April 21st, 2020

Get Ready for Better Possibilities

In a time where homestay, job loss and financial difficulties are the current reality for many Canadians, one may wonder how to proactively respond to this negative situation. The answer may lay in the acquisition of new financial skills that could minimize the risks that you may already be exposed to as a result of these recent and unfortunate societal circumstances.

Developing financial skills and improving one’s financial literacy will assist in navigating the challenges of the current economic environment with greater ease. The recent crisis is a reality which is also a unique experience. Having the wherewithal to know how to effectively manage your financial circumstances and investments is proving to be essential. Understanding how to manage current cash flows can alleviate the tension that you may be feeling and be the key to minimizing lifestyle disruptions.

There is no time like the present to acquire financial knowledge; especially while facing financial difficulty and unemployment. Enrolling in courses that the IFSE Institute provides can have many benefits. They can provide a greater understanding of how investments work and why certain investments are appropriate for a given personal situation. Other courses also address risks related to illness and morbidity. By completing a respective course, you can fulfill licensing requirements and exploit available employment opportunities. If already employed with a financial institution, then depending on your current position, completing a given course may lead to a promotion. The government has recognized the financial industry as essential. Due to the Covid-19 virus, it has become increasingly difficult to be employed and so it is even more vital to find ways to be marketable. This classification makes the financial industry in Canada one of the safest in terms of job security.

The IFSE Institute offers online, financial industry related courses and programs that anyone could take at home. All courses are designed by a panel of experts and experienced industry members ensuring theoretical and empirical aspects related to the financial industry are covered.

Joining the financial industry can be done through different paths. You could seek employment relating to investing, or insurance or a combination of both! If your interests are more specifically focused on investing and capital markets, then there are courses regarding investing you can choose to enroll. If professional interests lean towards addressing financial risk and vulnerabilities due to health-related issues, there are courses available to address that. The following courses in particular are applicable to those respective motivations:

  1. The Canadian Investment Funds Course (CIFC), which is about mutual funds. In addition to providing a great overview of the tools, stakeholders and processes of the different markets, this course helps fulfil the Mutual Funds Dealer Association (MFDA) licensing requirement. 
  2. The Exempt Market Proficiency Course (EMP), which is about private equity. This course introduces the complex financial instruments used in private capital markets and is a path to registration as an exempt market dealer.
  3. The Life License Qualification Program (LLQP) is about insurance. The course presents all there is to know about life insurance and is the path to a license as life insurance agent or an accident and sickness insurance agent.

So although you may have been compelled to self-quarantine or self-isolate by direction of the federal and provincial government, you can still turn a negative circumstance into a positive outcome. You will not only generate the benefit of acquiring knowledge to unlock the mystery of how to deal with your own personal financial interests but there is also the added benefit of learning professional, marketable skills from course completion.

Pessimism is a mindset that is easy to slip into during these troubling times. However, the more expertise and professional skills you possess will also make it easier for you to conquer these trials and tribulations. The courses offered could make your forced homestay a more productive and enjoyable experience. Enhancing your intelligence can lead to more practical and healthier financial habits. Yet, at the same time this can lead to a more fruitful professional life. Literally, it’s a win-win situation by taking this opportunity and making that effort!