Children's Education Funds Inc. is the nation's leading marketer of Registered Education Savings Plans (RESP), a special registered account that allows children to collect bonds and grants (free money) from the Federal Government of Canada (and provincial government in some provinces) to help cover the costs of their post-secondary education. Children's Education Funds Inc. is the marketing arm and distributor for the not-for-profit foundation Children's Education Trust.
According to EducationPlans.org, the CEFI RESP is the number one ranked Registered Education Savings Plan. The CEFI RESP is managed by Franklin Templeton Investments (nearly $2 trillion AUM), Guardian Capital, and Fiera Capital Corporation. The plan is audited by KPMG. The Bank of Nova Scotia is the acting Trustee and Custodian. A complete review of the CEFI RESP is available here. (link pending)
Founded: ?
RESP Assets Under Management (AUM): $1,000,000,000+
Number of Children Assisted: ?
National Presence: Yes
Industry Product Ranking: 1st (RESP.education) (link pending)
Compensation Rating: A- (high up-front earnings)
Clients Provided By The Firm: Yes
Up-Front Cost for Professional License: A- (heavily subsidized by the firm)
Opportunities Available: Part-time, Full-time, Transitional
The Opportunity
CEF is currently expanding their operations in the Greater Toronto Area (GTA) and the Lower Mainland in British Columbia.
Qualified individuals receive comprehensive training and development. Client service experience is helpful, but not necessary.
Requirements
Candidates must have strong oral and written skills. English is required, with a second language being advantageous.
As CEFI is a financial services firm, provincial securities regulators require all applicants to have a clean criminal record and no bankruptcies.
Applicants with pleasant personalities tend to do well with the organization.
The Interview Process
Careers Canada interviews potential candidates before they are referred to a Hiring Manager of a national financial institution. Should a candidate prove to be a good fit for the CEFI opportunity we will refer the candidate, along with the appropriate hiring recommendations, to the local Hiring Manager.
Follow-up interviews are done locally, in person or via Zoom. CEFI offers a very relaxed work setting, with a strong focus on a healthy work/life balance. This is reflected in the interview process. Candidates who prefer a more rigid workplace would be advised to explore other options in financial services.
Licensing
The CEFI opportunity requires all individuals to hold an RESP License.
The RESP License is issued by the residing provincial securities commission (for example, the British Columbia Securities Commission or Ontario Securities Commission).
Training and study material (to pass the RESP exam) is provided by the local branch offices through online courses and in-house workshops.
The RESP License is the least difficult financial license to obtain, as the information is straight-forward and easy-to-understand. Most candidates receive their RESP License within 30 days of being accepted into the program.
The total cost of an RESP License (registered with the provincial regulatory body) is approximately $1,800. The company will cover the majority of this cost up-front, and has a bonus system in place to reimburse associates for the remainder of the licensing fee.
Responsibilities
CEFI RESP Representatives work closely with new parents to open special registered accounts (Registered Education Savings Plans) that allow children to capture their government entitlements - up to $10,800 in provincial and federal bonds/grants (free money).
Compensation
The average compensation is just over $550 per account that is opened. The amount varies depending on a number of factors (for example, the age of the child). An average CEFI RESP Representative will open 2-3 registered accounts during the course of the week. A part-time associate will typically open 1-2 registered accounts per week.
There are no quotas - qualified CEFI Representatives are encouraged to work at their own pace, promoting a healthy work/life balance.
Next Step
If you are interested in learning more about this opportunity, please complete the online form at the bottom of this page.
You will hear from a Hiring Manager via phone and/or email to arrange an online interview. Please direct any future questions about the opportunity to the Hiring Manager that connects with you.