What Registrations/Licenses Do I Need

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dase's picture
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Joined: 2013-03-25

I'm thinking about becoming a fee-only Financial Advisor and would initially begin with offering several services I feel confident in, and then adding more as I go along.

Beyond offering Insurance, the role I would initially play would be as an Investment Consultant. (My background is in evaluating Mutual Fund managers, Portfolio analysis,  and I've passed the three CFA exams.)

As I first start out, my primary service would be essentially a Second-Opinion service.  I would take a look at the client's current mutual funds, etc., and if beneficial, talk to them about some other funds that look more attractive from a strategy and/or fund cost perspective.

I would also educate them about the fund's strategies and other general investing topics. (Behavioral biases, Pressures Fund Managers face to engage in Indexing, etc.)

Of course I would need Insurance licenses, but I'm uncertain of what kind of Security Registrations/Licenses and back-end compliance requirements I would need.  Best guesses? ...or recommendations for a compliance consultant firm?

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