There are so many ways to make money as a financial advisor, I want to break down some of the more popular models to make money as a financial advisor.
Previously, you might have wondered do all financial advisors, planners, coaches get paid the same?
Is it from products sold?
How does that AUM thing work? Let's tackle all of that today.
- For traditional financial professionals that are regulated by the 1940 Act, just find the ADV. Within that, you will see the various compensation models.
Here's a video I've done describing this with my own ADV down below.
- Once you find that ADV, you'll likely come across a few different models...
- Flat Fee
- Products/Commissions (life insurance, 12b-1 fees)
- If no ADV, this would be a more non-traditional route and means that you could see a different variety...
- subscription - probably the most popular (i.e. Financial gym)
- Ultimately what you charge for and how much that will be up to: (1) your expertise and the (2) of client you will serve. But keep in mind flexibility and fit.
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