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How do I legally offer personal finance consultations without a formal (accounting) degree/background?

October 28th, 2012 Leave a comment Go to comments

I only want to provide debt payoff, timely bill payment, and budget adherence information, in which the first matter is customized to the client. The latter two matters are simply universally applicable processes to follow. I would provide NO information on investing. I just feel that such a 1:1 consultation would help so many people get their finances in order–but of course I would need to have them sign a document that says what I provide them are only guidelines and not a sure-fire formula for success.

Every state is different. You would need to check to ensure that you do not need a license to conduct such a business in your particular state.

If a license is not needed – I woule create a very detailed contract for your clients. Have EVERYTHING in writing.., every detail including pricing.

If a license is necessary – you will have to follow the guidelines for that. If you are just doing debt consulting – I do not believe a degree is necessary but again.. this may vary by state.

Either way ~ Do your home work. Know every detail of your possible venture. You will need some accounting and business experience to conduct this type of venture. Without it – you may fail strictly because of lack of experience.

Good Luck!

  1. chasetwins05
    October 28th, 2012 at 05:17 | #1

    Every state is different. You would need to check to ensure that you do not need a license to conduct such a business in your particular state.

    If a license is not needed – I woule create a very detailed contract for your clients. Have EVERYTHING in writing.., every detail including pricing.

    If a license is necessary – you will have to follow the guidelines for that. If you are just doing debt consulting – I do not believe a degree is necessary but again.. this may vary by state.

    Either way ~ Do your home work. Know every detail of your possible venture. You will need some accounting and business experience to conduct this type of venture. Without it – you may fail strictly because of lack of experience.

    Good Luck!
    References :

  2. MVD34
    October 28th, 2012 at 05:53 | #2

    AIM for a C.F.P.

    Certified Financial Planner

    You may note need it to do what you want, but checking out the details in your state will help you better understand the requirements for pay-for-service financial advice in your area.
    References :

  3. Formerly known as Frank Castle
    October 28th, 2012 at 06:15 | #3

    Community College.
    References :

  4. stan c
    October 28th, 2012 at 07:03 | #4

    Take the H&R Block accounting course.
    References :

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