How would you like to command an income of more than $500,000 per year? An established financial adviser managing $50m from 50 high net worth individuals (HNWI) can easily accomplish that. A more average financial adviser managing 100 client accounts each $200,000, manages $40m, and can earn $200,000 per year from wrap fees.
Of the three segments of the financial services market: mass market, mass affluent (between $80,000 to $300,000 per year income) and accredited investors or High Net Worth Individuals (personal net worth above S$2m or income above $300,000 per year), the last two represent great opportunities for you to build a profitable financial advisory career and business. Read it all..
Unless you are an employed Financial Planner, being a Financial Adviser is like running a small business. And like all businesses, there is the sales/marketing, finance, operations, personnel and customer relationship management aspects in running a profitable Financial Advisory Practice. Therefore having a good business plan/strategy and being able to execute it well, is the difference between a good and an excellent financial adviser.
