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| How To Get Into Financial Planning Business? |
Question:
I've become known among my group of
friends and acquaintances as a person
who's fairly knowledgeable about financial
matters, and I often get asked for
advice. However, I realize that
a little bit of knowledge can be dangerous.
So before I give an opinion
I make it clear that I am strictly
an amateur, and the advice I give
should be treated as basic info to
get them started.
Well, it turns out that friends who
have then gone to professional planners
have gotten pretty much the same advice.
This got me to thinking that,
since I enjoy helping people with
their finances, I'd like to explore
the possibilities of going into financial
planning as a full-time profession
(selling advice, not products).
Obviously, I need formal training
to build on the knowledge I've gained
through personal experience. What
options are available to me for getting
this training, and what are the different
licenses that are available? Or
where can I go to get more info?
Answer:
There are some great books available
that focus on the fee only planning
aspect of this business.
The Excellent Investment Advisor
by Nick Murray is one of my favorites.
If you really want to get into this
line of work, I strongly encourage
you to seek out a firm that is established
and ask them about working with them.
There are some distinct advantages
of working with an established firm
if you have no experience with the
actual back office work required to
provide ongoing service and advice.
They should have all the tools
in place so that your primary function
will be to market yourself -- to solicit
new clients.
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