Courses for brokers and investment advisers

The Bulgarian Association of Asset Management Companies (BAAMC) together with the Bulgarian Association of Licensed Investment Intermediaries (BALII) organize training courses for candidates wishing to take exams before the Financial Supervision Commission (FSC) for obtaining certificates and respectively legal capacity as brokers and investment advisers. This tradition of the Associations has been maintained for twelve consecutive years.

Specific Features of the Courses

One of the main goals is the future brokers and investment advisers to be not only theoretically but also practically prepared for all aspects of their work, so that their competence and skills are adequate and meet the applicable market requirements. Brokers and investment advisers are the professionals whose efforts are instrumental in restoring investor confidence in the capital market.

The courses are held under the motto “The business in the service of business” and they are the result of the joint efforts of both professional organizations.

The topics within the courses are in accordance with the syllabuses of the Financial Supervision Commission (FSC) for both exams. The FSC is obliged to publish the syllabuses and the procedure for conducting the examinations at least three months prior to the dates of the examinations. The training schedule for investment advisers comprises 80 hours, and for brokers – 60 hours.


The training is conducted by the following lecturers:

  • Prof. Dr. Stefan Petranov – Faculty of Economics, Sofia University “St. Kliment Ohridski ”(Sofia University);
  • Vasil Karaivanov – Assistant Professor, Faculty of Economics, Sofia University, PhD candidate;
  • Ivan Dimitrov, CFA – Portfolio Manager, “KBC ASSET MANAGEMENT” HV – BRANCH;
  • Petar Radkov – Head of the Risk Assessment and Analysis Department of the Bank Deposit Guarantee Fund (BDGF);
  • Georgi Malinov – Procurator of Elana Fund Management AD, Chairman of the Legal Committee of BAAMC.

If the trainees desire, outside the form of the course and  for an additional fee, a trial exam is held, in which all interested trainees can take part. The trial exam is a scaled-down copy of the exams before the FSC and is an important stage in the preparation of trainees for the real exams. Within the course, some additional classes (exercises) can be conducted, as well as consultations can be provided.

For the candidates who have successfully passed the broker exam before the examination commission appointed by the FSC, it is possible to enroll in a practical training organized by the Bulgarian Stock Exchange AD for working with the Xetra ©, RTS and for the practical application of the rules of trading.

Tradition of BAAMC and BALII

BAAMC and BALII have held courses for brokers and investment advisers every year since the summer of 2010. There is already a tradition for those who have passed the courses of the Association to perform very well at the exams before the FSC, with success rates ranging from 80 to 100% in both specialties.