What are some ideas for starting a finance business?


Quick Answer

Considering how important experience and expertise are in the financial service sector, it is important to obtain the necessary education and to seek advice from a successful and experienced financial expert, reports Forbes Magazine. Interested parties can contact potential mentors through local financial planning associations.

Continue Reading

Full Answer

Prospective financial entrepreneurs need to invest in continuing education. A college undergraduate degree is the minimum academic qualification required for one to succeed in the financial service sector, explains Forbes. A Certificate in Financial Planning is a valuable way to demonstrate technical expertise in the eyes of potential clients. Becoming a certified financial planner may not be mandatory for one interested in the business of financial services, but the qualification gives the entrepreneur a working knowledge of various aspects of the business, including estate planning and making financial investments, indicates Bankrate.

A prospective financial service provider also needs to come up with an effective strategy to establish a loyal client base for the business. Success in the financial service sector is largely dependent on personal referrals, observes the Houston Chronicle. Strategies for establishing a loyal client base for a finance business include the use of purchased mailing lists to reach individual and corporate clients, attending financial seminars, and making presentations at trade conferences.

Learn more about Managing a Business

Related Questions