Finance Training Programs
Guide To The Different Types Of Finance Training Programs
The financial landscape is shifting, and as lending companies and individuals drill down to explore niche opportunities, the need for specialization and certification arises. We have seen finance training go from Certified Public Accountants and loan brokers to position with niche foci such as financial planning, risk management, securities analysts, commercial finance specialists, and much more.
As we look ahead, the need for certifications and industry specialization will become more necessary to ensure honest and fair business practices with qualified firms and individuals. However, simply because there is a proliferation of licenses and certifications does not mean everyone is useful. It all depends on the expertise of the individual, and their particular field in the world of finance.
Finance training covers a wide array of specialties. There are board certified courses for everything from small business accounting, wealth management, and risk assessment all the way up to securities, large commercial real estate ventures, and commercial finance.
Of Licensure And Certification
Before going any further, we need to differentiate getting a license and attaining certification. A license is granted by the public sector, such as a local, state, or federal body of government. Much like one would get a driver’s license from the state of residence; there are similar licenses for operating businesses. In the realm of finance, licenses are needed when dealing with client accounts when the IRS is involved to any degree (such as submitting taxes on behalf of an estate or corporation). Certification and charters, on the other hand, may be offered through a number of independent courses for professional specialization. Certification may range from small business accounting on up to portfolio management. To move things up a few levels, dealing with stock, bonds, and other financial securities require a license from FINRA (Financial Industry Regulatory Authority) – an independent organization operating out of New York and Washington, DC. They issue a battery of tests and require prospective brokers who pass a background check, as well as sponsorship by an existing dealer.
A Few Words About Ethics
When discussing specialized financial training courses, most require that applicants adhere to and understand professional procedures and ethics standards. Whether you are studying to become a Certified Public Accountant, or if you are handling securities, or if you are acting as a liaison between a large lender and a client – there are specific standards to adhere to. Each type of certification has its own variation on the “Code of Ethics,” but the foundation is universal. One never betrays trust, privacy, and one never acts in a manner that will intentionally do harm to clients, estates, businesses, or breach the law.
Retail Financial Services
These financial service providers usually work directly with individual clients. Examples of retail financial services are tax professional, advisors, and even registered financial representatives. Currently, the landscape is awash in retail financial service providers who all have the same licenses (usually Certified Public Accountant, or something similar). These professionals are all struggling to stand out from the crowd, and natural talent does play a big part. However, there are two major certifications which can mean the difference between competing over the same clients as everyone else, and landing the big accounts:
Becoming a Certified Financial Planner (CFP) covers a wide range of disciplines. Asset managements, estate planning, insurance, business taxes, employee benefits and more fall under this title. The basic requirements for financial training courses to become a CFP are as follows:
- College graduate
- Financial planning coursework
- Three years of work experience in a relevant field
- Meet professional conduct/ethics standards
- Pass a two-day, 10-hour CFP board exam
Financial training courses to become a CFP come from the Certified Financial Planner Board of Standards.
The title of Chartered Financial Analyst (CFA) used to be only found in major financial institutions, such as national bank chains. Today, private wealth managers who are looking to attract more advanced clients seek this title. The minimum financial training course requirements to qualify for a CFA are:
- Meet ethics standards
- Four years of work experience in higher finances
- Pass three examinations in portfolio management and securities analysis
Financial training courses to become a CFA are always evolving, as wealth managements becomes more diverse and specialized.
The financial training involved to become a certified public accountant (CPA) are unique. Using the word “certified” may seem a bit misleading, as a CPA is a licensed individual. CPAs can specialize in tax preparation, financial analysis, and even business planning. Additionally, CPAs are the only people apart from attorneys and enrolled agents who can represent people in dealings with the IRS.
Financial Training For Institutional Services
When we speak in terms of “institutions,” we mean things like pension funds and endowments. Training for institutional services is focused more on the larger picture of selecting securities, risk management, investment policies, and performance measurement. Over the past few years, the realm of institutional services has given rise to two very integral and specialized positions.
To become a Financial Risk Manager, one must take financial training courses provided by the Global Association of Risk Professionals (GARP). This organization offers certification at two levels:
- Level I – The focus is on the basics of quantitative analysis valuation, markets, products, and more.
- Level II – This training course builds upon Level I by introducing operational risks, investment management, and credit risks.
The reason for the two level program was a response to the economic downturn of 2008, which most financial historians place at the feet of poor risk management.
Financial training courses for a Chartered Alternative Investment Analyst (CAIA) are given by the CAIA Association. Qualifying candidates do coursework in understanding hedge funds, private equity, managed futures, real estate, ad derivatives. A good portion of the charter exam covers ethics, standards, and professional conduct. CAIA training courses take around two years to finish, and work experience does apply.
Commercial finance covers a lot of territory from small business loans to leveraging large investment portfolios and retirement accounts. At its heart, commercial finance is about bringing two parties together that cannot normally communicate directly with one another. Entrepreneurs need commercial capital. Lenders and private investors are always on the lookout for investments with great potential. As a commercial finance professional, specializing in one or many disciplines, a person can get these parties to work out a mutually beneficial agreement, and take home a substantial slice of the pie in the process. Commercial finance is also about building residual revenue to maintain a strong cash flow in between the larger financial agreements. However, there is really only one organization, which is truly qualified to provide the financial training necessary to handle all facets and specializations: The Commercial Capital Training Group.
Commercial Finance Training Program From CCTG
The Commercial Capital Training Group (CCTG) provides the financial courses to prepare people for the world of commercial finance. Our intense course gives people the freedom to specialize in everything from SBA loans, commercial real estate, and cash flow products, on up to 401(k) rollovers, luxury financing products, and much more. At CCTG, we understand the need for a specialized, recession-proof business model, and our training provides the knowledge people need to strike out on their own. We will also introduce you our network of lenders, who will help you overcome obstacles and ensure you are getting a fair share of the deal. Our finance training programs give you the opportunity to start and run your own commercial finance business with low overhead, a flexible schedule, and the support of a team of finance professionals with decades of experience.
Our training courses will teach you how to set up your own business and achieve financial independence – earning more from a few deals than most people earn in a full year. Our finance-intensive training not only give you nearly unlimited earning potential, but we provide 24-hour support to help you well beyond the initial training. Whether you have a strong background in finance, and are looking for something more challenging and rewarding, or if you want to own a business where you can set your own hours, work from home, and reap the benefits of helping entrepreneurs and investors close potentially large deals – The Commercial Capital Training Group has the training courses you need. In every economic climate, there are small business owners and commercial real estate investors looking for capital to take their operations to the next level. CCTG specializes in training commercial finance professionals to get these people the capital they are seeking, while earning a healthy revenue in the process. If you have wanted to own your own business, and have the financial training and support to achieve financial independence, The Commercial Capital Training Group is the right move. To find out more about our various training courses, contact us today.