European Financial Advisor (EFA™)
This credential certifies one’s professional suitability to provide financial advising, management, and consulting to individuals on personal or private banking, financial services aimed at individual customers, and any professional banking, insurance, or independent functions that entail offering integrated asset and financial consulting.
This certificate may be obtained with a single exam on all of the required material or with two exams corresponding to each of the levels.
DAF – Financial Agent Certificate (Level I). Spanish certificate including 50-60% of EFA content. It is valid towards part of the EFA certificate for a period of three years starting from the time it is received. People who receive this Spanish certificate are not part of the EFPA European Register and therefore are not members of the EFPA and do not need to be recertified, i.e., this certificate does not prove that the professional holding it is always up-to-date, as is the case with the EFA.
EFA – European Financial Advisor (Level II). This provides access to the European Certificate and entails the holder’s incorporation as a full member of EFPA Spain and EFPA Europe. All of the information on the certification and the corresponding exam can be found here.
MiFID II: The second Directive 2014/65/EU will enter into force on 3 January 2018 (more information here and here) and will require all professionals who provide financial advice in any country within the European Union to have a minimum qualification proving their knowledge as financial advisers.
Why did I decide to comply with MiFID II even though I’m not a financial adviser?
I love investing and, although my university and professional training is technical and scientific, I wanted to undergo training in an area that interests me in order to learn about financial agents, instruments, and markets.
My EFA certification serves to demonstrate that I have the basic knowledge necessary to offer services in the financial sector, that I am at the same level of certification as many private and investment banking employees, and that I’m staying up-to-date for the yearly EFA recertification.
Moreover, I’m currently preparing for the level I exam of the Chartered Financial Analyst (CFA) programme in order to deepen my understanding and to have an official credential in English that is recognised worldwide.