Hot Home Business: Financial Planner

Want to work from home but not sure what you can do? The Hot Home Business Directory helps you find a business to run out of your home, lists the skills you need to do it and tells how to get started and where to get more information. Read on to find out if this Hot Home Biz is for you!

What you'll do:
Work with individuals, families and small businesses to help them analyze, set and achieve financial goals.

Skills you'll need:
Expertise in accounting, taxation, finance and business law. A good sense of ethics also helps.

Equipment you'll need:
A good computer with spreadsheet, word processing and database software. Depending on the services you will offer, you may also need sophisticated financial modeling or investment analysis software.

Start-up costs:
$2,000 and up for a computer and software. Anywhere from $100 to $5,000 to market yourself via advertisements in local publications and through direct-mail campaigns. Fees for application ($100), courses ($300 and up) and exams ($450) to gain accreditation if you choose to become a Certified Financial Planner. (Courses may or may not be necessary, depending on prior work experience.)

How much you can make:
Anywhere from $20,000 to $200,000 a year, depending on your experience and client base.

How to break in:
Network, network, network! This is a business that's built on personal relationships. If you're any good, you'll be able to get testimonials and word-of-mouth support from your clients, which will, in turn, help you attract more clients.

For more information:

  • "Best Practices for Financial Advisors," by Mary Rowland, introduction by Michael R. Bloomberg. Irwin Professional Publishing, $40.

  • "How to Become a Successful Financial Consultant: How to Make a Living Investing Other People's Money," by Jim H. Ainsworth. John Wiley & Sons, $24.95.

Organizations:


Interested in other home businesses? Browse the hottest ones right now!

Find companies that are looking for work-from-home'ers on the Home Business Opportunities board.

Watch out for home business scams.

Then get a jump on your business with help from other iVillagers on the Getting Started board.

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