#108: What do I need to do to legally give basic investment advice?
Join Josh and Amelie to discuss investment advice and what you need to do to legally/ethically give investment advice.
Top takeaways:
- You do not need a CFP to give investment advice; you need to register as an investment advisor with your state.
- There are licenses to sell and earn commissions, sell insurance, give investment advice, etc.
- Series 65 is license to give advice as an investment advisor (you cannot sell products).
- In order to get a sales license, you need to be sponsored by a company. You are not being licensed as a financial advisor or investment advisor, you are a sales rep (title on license is “registered representative”).
- To get the series 65, you can be sponsored by a company or start your own RIA firm.
- If you are going to sell products, you generally cannot charge for your coaching services.
- Your regulation requirements skyrocket with any of these options.
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- Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
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