Starting Financial Planning Business

Starting Financial Planning Business-39
A career in financial advice can be busy but fulfilling. Thinking of starting your own financial planning business?

A career in financial advice can be busy but fulfilling. Thinking of starting your own financial planning business?

spoke with advisers who have set up alone about how it can be done, and whether it is worth it.

Step 1: Creating a business plan Red Circle Financial Planning director Darren Cooke says a prospective firm owner should expect to shell out about £25,000 in immediate start-up costs.

We asked successful financial planning business owners for the advice they would give to a start-up firm.

The keys to success when building a new business Apple co-founder Steve Jobs once said his model for a successful business was The Beatles: four parts that balanced each other so the total was greater than the sum of the parts.

Financial advice is a profession that can provide you with choices around where you take your career.

For example, you can choose to specialise in an area of advice you're passionate about, such as retirement incomes or corporate superannuation.

Because of all this, advisers say there is no guarantee the 2019 market will be a welcome one for new players.

But opportunities for fresh challengers are still there if start-up advice firms put the right building blocks in place.

In the financial advice world, most agree there is no such thing as the perfect planning firm, nor a textbook model for starting one from nothing.

The total number of advice firms registered with the FCA at the end of last year was 13,690, down from the 14,254 in December 2016.

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