by Jay T. 22 May, 2012 Business 3 Comments

Financial Planning is something that everyone needs. Times are gone when people used to manage their own finance themselves. Financial Planning is getting complex and new rules and regulations are out of understandingly if you are not a commerce person. Investment options, retirement plans, deposits and other financial stuff are not matter of understanding for everyone. People need financial planners to manage their investments, design and manage portfolio, plan future finance, retirement, achieve short term financial goals etc.

Financial Advisers are the professional people with knowledge in finance and related domains. These are certified people having professional degrees in finance and investment People consult such financial advisers and pay them for their valuable advice.

Who Can Become Financial Adviser ?

Professionals having finance degrees like C.F.A. (Certified Financial Analyst), C.F.P. (Certified Financial Planner), C.A. (Chartered Accountants), M.B.A in Finance.  etc. can become financial advisers with the knowledge they have. If you want to become a financial advisor, you need to have a professional degree so that people trust you and your advice.

If you already have these degrees, all you need to have now is some experience. Studying in colleges and working on field are two different things. Experience makes a man perfect.

How To Start A Financial Planning Firm ?

If you have enough knowledge and experience, the market is open for you. Now you are ready to open your own financial planning firm. To start your own consultancy firm, you need to follow certain steps. Lets take a look of these steps which will make you an independent financial planner.

1. Registration With Local Authorities

Since you are starting a consultancy firm which will guide people on monetary stuff, affiliation with local authorities is very essential. Since we are targeting global audience, we can not name any of the authorities as it defers with places.

The bottom line here is that you need to make sure that you are registering your firm with the respective authority. Official affiliation of your firm makes it more potential and credible.

2. Decide The Portfolio Of Your Services

Financial Planning firms have many variants among themselves. One financial planning firm can not handle all aspects of finance. Every financial planner has his/her own specialities. Decide your area of work and specialities and offer service accordingly. You can offer Personal Finance Planning, Corporate Finance Advisory, SME Finance Planning, Consultancy For Loans, Investment Planning,  Portfolio Management, Internal Auditing, Statutory Audit, Certification, Forward Contracts Advisory, Hedge Fund Advisory, Retirement Planning, Over All Personal Finance Consultancy, Over All Corporate Finance Consultancy etc .

Once you are sure which service to provide, make it on blueprint and take actions.

3. Rent Or Purchase an Office

Third logical step of starting your financial consultancy firm is to get an office. You can rent an office or purchase one. Office plays an important role in your business. There are several steps to follow while selecting office place. Read this 10 Things To Take Care of While Selecting Your Office Place .

4. Create an Informative Website

This is a kind of compulsion now a days. You need to have a website depicting the services that you provide. Website gives information about your venture to clients who can not personally contact you. Make sure that your website contains all the information like your services, your work, portfolio, contact page and most importantly, a blog which will include latest updates and some free tips. This will increase user engagement on your website.

5. Hire Competent People

You need to have competent people to handle your day to day functions. Remember, people makes a company potential, so be very careful while choosing people for your venture. You can consult some HR agency to get people who meet your needs and requisites. Every person working for you represents your company, so make sure that your company is represented in right way.

These are the basic step that you need to take care while starting a Financial Planning Consultancy Firm. Feel free to ask questions, our experts will be more than happy to assist you.