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"Financial Planner Business": How to Get Started

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Almost every people's life goal involved looking for money. That's a fact we can't deny. But with most of us spending three-quarter of our lives looking for money, it will surprise you how very few of us understand what to do with it (the right way). But ignorance is bliss, and most of us won't realize that we made the wrong use of the money until it's too late.

However, the tides are changing, and more people are starting to realize the importance of investing, saving, and using money the right way, especially after the 2008 economic recession. The financial industry is rapidly on the rise and a lot of business opportunity are available.

Being a financial planner is one of the opportunities in the financial industry that is not only low in startup investment, but also promises great potential.

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If you're good with numbers, this business just might be for you.
Below we will learn about the business and how to get it started.

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1. Startup Investment
This business will require very minimal monetary investment. Most of your expense will go to compliance, office supplies, and a computer. You can start with below $5,000. However, if you have no prior experience, you might need to do some trial and error investments, and it will cost you money.

2. Getting your Knowledge
Many sources from DIY to formal and offline to online are available. Of course, getting a formal degree will be a major boost to your credibility and marketability, but it's not a certain necessity. Finance planning is more about the experience rather than technical expertise, with the need to hone instinct above technical precision. Getting an apprenticeship under an established financial firm or individual is certainly a great option.

3. Marketing
To succeed in this business, you will need to build a reputation. After all, your clients will give you control of their hard earned money, and they'll have to be sure you are honest,reliable, and most of all, can bring them profit. You can start by starting a finance blog or vlog, it will be a good platform to showcase yourself. Join financial communities and get yourself seen. At the start of your venture, you might need to do pro bono to enrich your portfolio.

4. Monetizing
You can charge by the hour or flat fee for each consultation. As your reputation grow, you can manage your client's fund. Here, you can get extra (huge) earning from the commission.

5. Licenses and Permit
Financial industry usually will require you special license and permit, so make sure you consult your local authorities to get information regarding it. You will also need to stay clean in your tax payments and other obligations, as they will be thoroughly checked before you can apply for a permit.

Earning Potential

The U.S. national average earning for financial planners is an astonishing $81,000 annually. Being independent, you certainly have the potential to score above average.

If you're managing hedge funds, your earning potential will rise significantly and can easily reach hundreds of thousands to millions annually. Wide, diverse portfolio, and reputation will be the key for a successful financial planner.