canadian securities course

[hattonlynch]

thinking of dropping out of school (currently a 2nd year at mru) and just taking the csc along with the cph courses and becoming a broker. i am an active investor (not big ballin by any means) and i have wanted to invest money for a career for a while now. however, the lack of education at mru is pissing me off. they have only like 2 finance classes (investment principles and intro to finance) and it just seems pointless to me to waste 2 yrs, put my life/career on hold, JUST to get some piece of paper from mru that says im smart.
on the other hand, u of c looks promising but I hear that the profs completely suck balls along with the teaching. i know you can actually major in finance which is solid but then again ill be going from a school where i know people to a school i know almost no one..will suck balls.

anyone just work as a broker or adviser? what do you guys reccommend? MRU is just frustrating the hell out of me.

[dezmarez]

what program were you in?

csc is good if you want to work your way up through a bank or what not...
if your looking at becoming a broker or what not you will need some sort of degree..


there are alot of finances courses at mru but they are geared more towards financial planning and attaining the cfp designation,
where u of c would prepare you better for cfa

[psi_klops]

You can certainly go that rout, CSC/ CPH and be a brokers assistant or an associate. Remember that in this industry a "salary" isn't the norm (but there is a really low base + bonus), they are a very performance-centric and as such is very competative. Approximatly 80+% of Brokers fail to be profitable.
Being an associate does not mean you will become a broker.
You do not automatically inherit you brokers book of business by being their associate...you buy it like everyone esle (potentially very expensive)
Very hight pressure and commission based sales.
Althought a degree is not necessary you are competing with people that have several. Customers will want to know why they should put their hard earned $$ with you vs. someone who looks better on paper.
People are very sensitive when it comes to people managing this money. clients can be very demanding.

Overall the industry is dynamic and very exciting. Everyday changes by the minute (markets). Its is hard work, but it definatly pays of if you succeed.

[hattonlynch]

Originally posted by dezmarez
what program were you in?

csc is good if you want to work your way up through a bank or what not...
if your looking at becoming a broker or what not you will need some sort of degree..


there are alot of finances courses at mru but they are geared more towards financial planning and attaining the cfp designation,
where u of c would prepare you better for cfa
im in the bba program. i like mru for their class sizes and tehres some okay proffs but theres a lot of bullshit classes. and i cant believe they only have 2 finance classes you can take. i was talking to him fisher and he told me they are slowly weeding out even the applied financial services major. 2 fnce classes just seems bullshit to me.

[hattonlynch]

Originally posted by psi_klops
You can certainly go that rout, CSC/ CPH and be a brokers assistant or an associate. Remember that in this industry a "salary" isn't the norm (but there is a really low base + bonus), they are a very performance-centric and as such is very competative. Approximatly 80+% of Brokers fail to be profitable.
Being an associate does not mean you will become a broker.
You do not automatically inherit you brokers book of business by being their associate...you buy it like everyone esle (potentially very expensive)
Very hight pressure and commission based sales.
Althought a degree is not necessary you are competing with people that have several. Customers will want to know why they should put their hard earned $$ with you vs. someone who looks better on paper.
People are very sensitive when it comes to people managing this money. clients can be very demanding.

Overall the industry is dynamic and very exciting. Everyday changes by the minute (markets). Its is hard work, but it definatly pays of if you succeed.
i feel ya there...sounds awesome. however, i hardly think anybody would trust their hard earned money wi th a 21 year old, lol

[dezmarez]

Originally posted by hattonlynch

im in the bba program. i like mru for their class sizes and tehres some okay proffs but theres a lot of bullshit classes. and i cant believe they only have 2 finance classes you can take. i was talking to him fisher and he told me they are slowly weeding out even the applied financial services major. 2 fnce classes just seems bullshit to me.


ya jim's a good guy and knows his stuff really well....

ya i feel ya.... are you not able to take the estate planning...risk management...tax planning....strategic investment planning....retirement planning courses? csc throught mount royal?

[psi_klops]

I have head the MRU program isn't a bad start. It will at least get you into the industry. From there have them sponsor you for all your additional academic endeavors..Ie, CFP/CFA/ CIM.
That way you are getting paid, they are paying for your courses, and what you learn is re-enforced with what you do.

Only catch is you will not have much "free time". :D

[Godfuader]

Its very easy to say that school sucks. I will just do one magical course, work hard, and become "big ballin". First of all, the only place that will look at you, if you are lucky, with just the certification will be companies like Investor's Group. You need that stupidwasteoftime degree not to say you are smart...but to show that you have the determination to sit through 4 years of formal education. Without a degree no sensible clients will trust you. The Applied financial services degree is the best option for you. You will be setup for CSC and CFP by the time you are done. Additionally all of fourth year is DFS (paid placements). What you want to do for that is to work as an assistant to a mainstream (Nesbitt Burns, Waterhouse, etc.) broker to learn the ropes. Just suck it up for the additional 3 semesters. Without the little piece of paper, you are really limiting your career options.

[Hakkola]

Originally posted by Godfuader
with just the certification will be companies like Investor's Group.

Is IG any good to work for/with?

[l/l/rX]

Originally posted by Hakkola


Is IG any good to work for/with?

In a lot of peoples eyes, NO. I still have friends who go and work for them and i do this :facepalm:. To get started with them, you have to pay for your own training and while training you get paid next to nothing.
IMHO I believe they are a sort of pyramid scheme except are legit because they actually do sell a product. But I say they seem like a pyramid scheme to me, is because they pretty much hire whoever. There also seems to be no structure within the company, again to me, it seems like everyone who works there is just some sort of try hard cfp. lol.

[Canmorite]

Get a diploma/degree and CSC/CPH. CSC alone isn't worth much.

[Godfuader]

Originally posted by Hakkola


Is IG any good to work for/with?
IG has its good and bad. It gets alot of negative rep because of its loose structure. Its good because you have a TON of potential. You build up your own book of clients and it comes down to how well you help your clients and will they refer you out to their friends. The bad is that no clients = no money...and when you have no clients you start to harass your friends and family. It is a fully legitimate organization with some very smart minds in its mix. I did a short project with one of the top reps in the company and I must say he is a smart man with an excellent marketing plan. His 5 member full time personal staff, which he pays out of pocket, payrolled over $135K/yr. So if this guy can payout $135K...figure out much his paycheck is. I have also known a couple guys who were step 1 entry level. They love the opportunities and the freedom to work at their own pace. Its a great company IF you are very self-driven.

[Kartelli]

Is the CSC course worth taking for a non finance individual who is looking for a starting point for self investing? Can anybody recommend other single courses to take such as the CSC or wealth management/portfolio management for continuing education?

[Canmorite]

Originally posted by Kartelli
Is the CSC course worth taking for a non finance individual who is looking for a starting point for self investing? Can anybody recommend other single courses to take such as the CSC or wealth management/portfolio management for continuing education?

CSC is a regulatory requirement for brokers and people who want to faciliatate trades. It will teach you about the industry, but not much on personal finance or investing. You could always pick up the books used and study them, instead of paying 900 for the course.

[Celica TVS3]

Originally posted by hattonlynch
i know you can actually major in finance which is solid but then again ill be going from a school where i know people to a school i know almost no one..will suck balls.
.

Really? You don't want to change schools because your buds are at another school? You realize, being a retail broker is 99% relationship building?

Finish your undergrad.

CSC+CPH = Sales Assistant (not what you're looking for).

[Mckenzie]

The problem is that credentials in this line of work will typically trump knowledge, especially at a young age getting into this very tough business. You will want to finish your undergrad if you are serious about making this a career. People will trust you more. The CSC will do nothing for your career compared to a finance degree at u of c, which has an excellent finance program and excellent teachers.

[91_Integz]

The CSC is just a 2 exams course that most people would expect you to have working in the finance industry in general.

Knowledge is key in this industry, and degrees/designations are the only way to get there.

Nothing is worse than an advisor with the bare minimum education spewing out things to clients when they have no idea what they are talking about, and you'd be surprised how many of those types of advisors there are out there.

The applied degree program in financial services at MRU is good because you learn about the industy, take your CFP courses, as well as your CSC.

As for Investors Group...high priced, underperforming funds are what you're gonna get. Sure if you work there and have a big book you can get paid big bucks because you're selling high priced DSC funds...that's where ethics come in for this line of work...so it really depends WHO'S interest you have in mind...yours or your clients.

[hattonlynch]

lol I actually got a call from IG the other day. Kind of surprising considering I have construction and landscaping on my resume, lol

Does anybody know how the Applied Financial Services degree compares to a regular Finance degree from the U? I was talking to Jim Fischer and he told me they are trying to make the applied financial part of the BBA as a concentration. He said I should just stay at MRU because, according to him, the same firms recruit at U of C and MRU and the BBA is just as good as the Bcomm.

I smell a little bullshit and its tough getting some real legit advice from unbiased sources. Does anyone here have anything they want to offer? I'm seriously considering the U of C again...even though all the friends are at MRU I'll grab my balls and go over to a school with more opportunity for my goals.

Also, how are the people in the business program at the u? A little more driven and ambitious? I feel I would fit in a lot more over there because I actually care about what I am going to do for a living, and aren't just in business because I have rich parents and/or have nothing better to do.


Fuck, so many decisions. If only I got better marks in high school then I could of went to the U straight out, haha

[ChappedLips]

I am in the Financial Services degree at MRU and I picked it because the courses seem way more direct and less options. I have no desire to be a financial planner, but there are several finance, accounting, CSC, and other investing type courses. The program seems to have much less useless material when compared to other degrees at MRU or U of C. It may not have the same clout as a full on finance degree from U of C, but it seems like it is just as useful. You also get 2 semesters of work so you can figure out what you like and where you want to work when you graduate (plus not paying tuition for another year :thumbsup: ). You may not get offers to be an investment banker but hopefully other companies recognize the value in the financial services degree. I also heard that within a few years they will add the program to the BBA stream like you said and you can go back and do the last year if you like.

[7thgenvic]

Originally posted by hattonlynch
l

I smell a little bullshit and its tough getting some real legit advice from unbiased sources. Does anyone here have anything they want to offer? I'm seriously considering the U of C again...even though all the friends are at MRU I'll grab my balls and go over to a school with more opportunity for my goals.

Also, how are the people in the business program at the u? A little more driven and ambitious? I feel I would fit in a lot more over there because I actually care about what I am going to do for a living, and aren't just in business because I have rich parents and/or have nothing better to do.


Fuck, so many decisions. If only I got better marks in high school then I could of went to the U straight out, haha

1) People are not in the Haskayne School of Business because their parents have money. I'm sure the tuition for MRC is just as much or slightly less than MRC.
2) I don't think you are focused with what you truly want to do. As a former Haskayne Grad & Copenhagen Business School grad, I do not think MRC could come close to matching a comparable finance program that U of C currently has. There are TONS of options available outside a finance designation that would make you a far more valuable asset. Energy Management, Strategy Petroleum Land.
3) I wouldn't call MRC students slackers by any means, but I truly believe that if you research classes and professors, you could receive the highest caliber experience for reaching your goals of landing a good gig in the finance industry, and not simply working for IG.
4) Get rid of that common stereo type that so many finance grads or ambition students have....It's not all about becoming a I-Banking analyst.
5) Get your BCOMM and do your designation. a CA or CMA or CFA will open a world of opportunities.