Independent Financial Advisor

i already have all my licenses ( Series 7&63) and life but i dont want to work for anyone e.g. Merrill Lynch, Citibank, Met-Life since their payout is smaller then what you can earn if you are independent. Is there any firms out there that have a program for independent advisors.

thanks

Edward Jones is semi-independent. You do get your own office and secretary and set how hard and often you work.

If you are trying to be truly independent, I do not think there are that many places that will give you a program for being independent.

Are you experienced? If so, consider becoming apart of the Fee-Only Financial Advisors or a CFP (Certified Financial Planner). If not, I would recommend getting some experience (for 3-4 years) from a firm like Merrill Lynch, Morgan Stanley, or Smith Barney. It will help you once you do go independent.

I was once an independent financial advisor, so please contact me at szulcc@gmail.com if you would like more information about the process and how I did it.

2007-03-30 13:25:24 by andrew p

www.mytalentplace.co.uk Experienced Independent Financial Advisor talks about the career. For more career advice go to www.mytalentplace.co.uk

I would like to become an IFA. How do I qualify and what is the name of the authority that sets the exams and gives the qualifications?

the cheapest and fastest way I know of is to join the CAB or do a CeMap course.

All that's required for the former, is for you to call your local CAB (Citizen's Advice Bureau) and they'll send you the appropriate form to fill in.

It starts off as voluntary work, with free travel and training in various areas, you'll pick the financial side of things, and I think you can even specialise intow what kind of financial advice you can do.

You'll have enough training and experience if you do this even part time within two years.
Another way of course is to register to do CeMap training (just google it)

it's relatively cheap compared to the benefits you'd get once you get a job or start business, the average person that gives mortgage advice for example gets an average £10,000 for every sale that results from a talk with him... and of course if you're employed, you don't have to make a sale to get paid, you just have to attend the interview and offer fairly average to good customer service!

2006-11-14 04:04:07 by jerjc99

Hounslow, Staines Ealing or even Hillingdon,Hayes ? Who pays his Salary and how?

FIRST: The best financial advisor is yourself. The greater your efforts and studying the greater the returns.

SECOND EQUAL: Online financial advisors and banks. Speak to few banks and see what they say.

2008-01-18 13:58:32 by Oswald W

Price: $39.95

Birmingham UK

Yes, there is such a thing, but they are expensive; if you don't take commissions on sales, you still have to make money somehow. So independent advisors either charge you an hourly fee for any consulting-type work they do for you or receive their compensation as a percentage of assets they manage for you and/or a percentage of profits they make for you. Advisors that charge management fees usually have a rather high minimum account value requirements (seven figures is the norm, eight figures is not unheard of).

As to whether there is one in Birmingham, which Birmingham are we talking about, the one in England or the one in Alabama?

2007-04-23 13:02:52 by six million euro man

I went to 3 banks for mortgage quotes, halifax, hsbc and alliance & leicester. Halifax could borrow me the most money, then hsbc, and then alliance & leicester.
I then looked around for some houses and the estate agent that i booked some viewings with had an independent financial advisor (IFA) working there.
He told me he could get me a better mortgage by carrying out a gifted deposit where no money would change hands, it is just a transfer of money and then i would avoid paying a higher lending charge and the monthly payments would be lower. He said he wouldnt charge me as a first time buyer, he just gets paid a fee by the bank (eg halifax).
Ive also seen a house i love, it is on the market for £110,000 but the couple are desperate to move out by september and received an offer for £95,000 a few months ago, considered it but declined.
So what i want to know is what would be a good offer, is an IFA better than a bank to arrange a mortgage and how does the gifted deposit work?
i got my offer accepted for 101grand, there was another offer at 100 but they accepted mine!
will see IFA sat morning and will not get information but not make a decision til im certain.
A few people i know recommend an IFA.

It is a common practice an you should go with the lower interest and the less money down...kr

Good Luck!

2007-06-16 13:43:38 by MysticMaiden2000