How To Become A Part-Time Independent Financial Advisor

Nowadays, many individuals are engaged in providing part-time services to their clients. An individual is not required to leave his/her permanent job in order to provide part-time services. Such services can be provided after office hours or even on weekends. Part-time services enable an individual to earn some extra income.

Part-time services can be provided in any field such as software development, management of books of accounts, personal tax planning and so on. An individual can also provide financial planning services to his/her clients. Financial planning generally involves wealth/portfolio management of the clients. A good financial advisor is expected to advise and invest money in those instruments (on behalf of the client) that generate optimum returns (with minimum risks) for the client.

How To Become A Part-Time Independent Financial Advisor

Steps In Becoming A Part-Time Independent Financial Advisor

Develop Confidence And Negotiation Skills

A financial advisor is required to communicate very frequently with the clients. Therefore, it is important for the financial advisor to develop confidence. Such confidence can be developed by gaining strong understanding of various financial planning aspects. A financial advisor should also develop effective communication and negotiation skills to handle client issues and queries.

Obtain Necessary Qualification

Without obtaining a recognized qualification in the field of financial planning, it may become difficult for an individual (intending to become a part-time financial advisor) to offer financial planning services.  An individual can complete Certified Financial Planning course and earn Certified Financial Planner designation in order to attract more clients and offer expert financial planning services.

Obtain Relevant Experience

Nowadays, many individuals working in banks/insurance companies have also started providing financial planning services. These officials have knowledge on various investment instruments available in the market. Therefore, they are in a better position to offer financial planning services to different types of clients.

How To Become A Part-Time Independent Financial Advisor

An individual can also join a company engaged in providing financial planning services to high net worth individuals. Such exposure can help the individual in understanding various aspects of financial planning services.

Fix Reasonable Charges

It is important for the financial advisor to charge a reasonable fee from his/her clients. Companies engaged in providing financial planning services generally charge exorbitant fees from their clients. Therefore, many individuals may prefer to consult independent financial advisors for obtaining financial planning services.

Manage Work Schedule

Part-time financial advisors are required to manage their working hours more efficiently. In case, it is not possible to offer such services on normal working days, a financial advisor should plan meetings with his/her clients on weekends. All these meetings should be fixed in advance in order to avoid last minute changes. Such a professional approach can help the financial advisor in saving his/her time and effort involved in dealing with multiple clients on a single day.

Keep Clients Informed

An essential part of financial planning process is to keep the clients informed on the status of their investments. Financial advisor can send regular emails (with details on return on investment) or forward investment statements to his/her clients. This approach can help the financial advisor in building long term relationships with his/her clients.

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