Why take the Canadian Securities Course?

To say that choosing a career in finance offers a wealth of opportunities is not a pun, nor is it an exaggeration. For one, you can build a network of industry contacts in Canada and gain enough knowledge and experience to attract high-net-worth clients or even set up your own business.

The only caveat with this career strategy is that this can take many years if you don’t obtain another certification or expand your knowledge on financial subjects. One way to fast-track this process and stand out from other financial planners is to take the Canadian Securities Course (CSC).

In this article, Wealth Professional explores the Canadian Securities Course and provides information for curious finance professionals. These are some of the questions we will tackle:

• How do you get the Canadian Securities Course?
• What are the Canadian Securities Course requirements?
• Is the Canadian Securities Course worth it?

Wealth Professional will share insights into these and more, so let’s get into it.

Introduction to the Canadian Securities Course (CSC)

The Canadian Securities Course (CSC) is a certification course for financial advisors or planners who wish to expand their knowledge and expertise on the Canadian financial industry. The CSC provides knowledge on a variety of financial products, the Canadian capital markets, and Canada’s regulatory environment.

The CSC is a foundational course and certification program for anyone who wishes to work in the Canadian finance industry. The main institution that offers the CSC is the Canadian Securities Institute (CSI).

The CSC curriculum offers broad knowledge on the Canadian financial services industry. Fresh graduates, career-changers, and established finance professionals can benefit from the course. Those seeking financial roles involving investments, securities, or financial advice can flourish with the CSC.

The CSC can also serve as a launchpad to more advanced certifications like:  

• Chartered Financial Analyst (CFA)
• Certified Financial Planner (CFP)
• Personal Financial Planner (PFP)
• Chartered Investment Manager (CIM)

Those aspiring to get these, or other certifications, can consult our guide on certified financial planning courses and prepare the requirements for their desired certifications.

Canadian Securities Course (CSC) requirements

The good news for aspiring finance professionals is that the CSC does not have any formal prerequisites or requirements. Most anyone can enroll in the course without worrying about having the right educational background or work experience. But there are testing fees to pay, and course schedules and testing schedules to follow.

Despite the absence of any prerequisites, it is recommended that participants are equipped with a basic understanding of mathematics, finance, and investment concepts. Having some knowledge of finance and financial concepts will help them grasp the course material more easily and effectively.

While there are many successful candidates who are investment managers or with backgrounds in finance, business, or related fields, these are not required to take or pass the CSC.

An overview of the Canadian Securities Course (CSC)

The Canadian Securities Institute will administer both the course and the exams. To obtain CSC certification, candidates must complete the course and pass two exams. The passing rate is a 60% score for each exam.

The CSC is intended mainly to train candidates on the Canadian securities market. The course also teaches you about mutual funds, trading stocks, ETFs, and fixed-income assets.

Candidates may take the exam to become a licensed and registered securities representative after finishing the course. After completing the course, you may book an exam date and take the exams, of which there are two parts:

CSC Exam Part 1

The first part of the CSC exam consists of 100 multiple-choice questions. Candidates can have a maximum of three attempts to pass with a score of 60%.

CSC Exam Part 2

As for part 2, this also consists of 100 multiple choice questions. Candidates also have three attempts to attain a passing score of 60% in this part as well.

Here’s a video that gives important tips on studying for the CSC. You can use the tips here from a CSC passer and (hopefully) ace the tests too. One of the crucial tips: do your best not to procrastinate and put off studying and taking the exams.

Career paths to consider with CSC certification

After finishing the CSC and passing the exam, those who have earned their CSC certification will discover the many job opportunities available to them. Passing the exam can also enhance the knowledge and skill set of some finance professionals. Some roles or careers that can benefit from the CSC include:

Portfolio Manager

A portfolio manager or supervisor looks after and invests their clients’ money wisely. It’s the portfolio manager’s job to keep a close eye on the markets and on their clients’ investment accounts.

Portfolio managers must also deliver regular, thorough reports on their clients’ investment portfolios, and monitor relevant market trends. A finance professional with CSC certification has a better understanding of securities and securities markets, putting them in a better position to manage clients’ investments.

A portfolio manager who has the right skills and certification would be difficult for clients to ignore.

Chief Financial Officer

As the highest-ranking financial officer in an organization, the CFO is tasked with planning, coordinating, and overseeing all operations necessary to maintain their financial stability.

The CFO must also partake in decision-making and business planning as a member of the executive team. CFOs also manage the funding of company objectives and come up with accurate financial projections. While the CSC certification is not necessary to become a CFO, the CSC has its benefits.

A CFO with the CSC certification would have good knowledge of how securities and markets operate. They can leverage this knowledge to make informed financial decisions.

Wondering where your #FinancialServices #Career can take you? 🔍Discover CSI's Career Map—a powerful tool to navigate your professional journey. Start exploring your path today! https://t.co/yfrMki2Rmu pic.twitter.com/2vMSA7UjTn

— Canadian Securities Institute (@CSIGlobalEd) August 13, 2024

Investment Advisor

These professionals give advice to individuals and businesses on investment options. Investment advisors inform clients about which assets to invest in, when, and how much to invest. Apart from these, their other duties include:

• monitoring the market
• giving clients information about assets and securities
• developing investment profiles for each client
• examining various securities
• maintaining accurate records on investments

With CSC certification, investment advisors may give their clients better recommendations on investments and make informed financial decisions.

Financial Advisor

Established financial advisors, also known as financial planners, give clients advice to help them achieve their financial and investment goals. This type of advisor also holds client consultation meetings, creates personalized financial plans, builds rapport with new clients, and stays informed about relevant insurance, tax, and finance laws.

The CSC certification empowers financial advisors to prescribe and sell financial goods to their clients, boosting their income.

History and development of the Canadian Securities Institute

First established in 1970, the Canadian Securities Institute (CSI) was put up to administer the Canadian Securities Course. The CSI still offers several licensing programs, advanced certifications, training programs, and continuing education programs. In 2010, Moody’s Corporation bought CSI for $155 million.

This institution now operates as a separate entity under Moody’s Analytics. At present, the new CSI enjoys the endorsement of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Securities Administrators (CSA). CSI has two main headquarters in Toronto and Montreal.

The CSI remains a dynamic financial services institution, as it keeps pace with industry trends and new markets. Currently, CSI offers almost 300 different courses to enrich the careers of finance professionals in varying fields.

Since 1999, CSI has worked to extend its reach beyond Canada’s borders. CSI has developed educational courses and content for emerging financial markets, including that of China, Europe, the Middle East, the Caribbean, and Central America. 

#NewToCanada and looking to kickstart your #Banking career? The Canadian Securities Course (CSC®) is your gateway to #Success. Learn more today! https://t.co/asmK3z7jVR pic.twitter.com/SuTyoSaCxU

— Canadian Securities Institute (@CSIGlobalEd) August 21, 2024

Is the Canadian Securities Course worth it?

Whether the CSC is worth it or not largely depends on the individual. Some finance professionals may not need to take the CSC due to their advanced knowledge and years of experience. The CSC is a basic program, providing the candidate with foundational knowledge about Canadian securities markets and the Canadian financial industry.

The CSC also provides a basic permit for you to work as a registered securities representative of a brokerage firm. While it may seem like a simple certification with limited use, the CSC still has its purposes. This can further your financial knowledge and skills in the securities industry as you gain more experience. A sound strategy would be to first consider your time horizon, career goals and the possible job or business opportunities before taking the CSC.

IFC Course is one of the several programs offered by the Canadian Securities Institute (CSI). Read more here.

Are you fresh out of college, a career-shifter, or a seasoned finance professional looking to take the Canadian Securities Course? Let us know in the comments below