#108: What do I need to do to legally give basic investment advice?

Season #1

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.

Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: