slow board, bumping.

/biz/ having a good christmas?

>>1012945
>Hey /biz/ OP here from the /personalfinancehorrorstories/ thread.
>I really want to become a financial advisor. So far i've been studying for the series 65, along with reading a few books on personal finance, investing, and economics.
>Ideally i'd like to open my own firm, helping people get their personal finances on track and helping them plan for the future. I see a >>1012945

I have 150k in cash. Low risk tolerance. What should I do?

>>1013026
what are you looking to do with that 150k? save for retirement? a house? that's a respectable sum of money

>>1013026
if you're looking to invest, I'd suggest a few index etf funds, as well as a some dividend yielding stocks. bond rates are on the rise too, and are overall a safer investment vehicle than stocks, but the returns tend to be smaller. a few bond funds would be a nice avenue, especially for a low risk tolerance. a solid collection of REITs would round out the portfolio nicely, allowing for dividend growth while still keeping the risk and volatility at a minimum

bump

>>1000000
>>999999

>>1013049
ty kind anon

>>1013026
then again, it depends on your financial situation. do you have any debt at all? a mortgage, student loans, CC debts? that 150k should go towards that first, and then we can talk investments.

basically i need more information other than I have 150k

>>1013050
i'm actually looking to do the same thing you are, but a few years behind to be able to take the S65. Hopefully we won't have to compete against each other.

>>1013055
that's awesome anon! good for you!
im gonna get a ton of shit for this on this board, but i'm trying to teach myself all this information. I've got a college degree in an unrelated field, but this is a career where having some life experience helps. I've turned my life around financially, and i want to help others do the same.

maybe we can work together sometime :)

>>1013053
>>>1013026 (You)
>then again, it depends on your financial situation. do you have any debt at all? a mortgage, student loans, CC debts? that 150k should go towards that first, and then we can talk investments.
>basically i need more information other than I have 150k
>>1013053
0 debt, mid twenties and want to buy a house in 2 years. Currently living rent free and traveling for my job 80 percent of the time.

>>1012945
>Ideally i'd like to open my own firm, helping people get their personal finances on track and helping them plan for the future. I see a market here, because many people are really clueless
This is the problem buddy. I have the same visions - delusions of grandeur - but the reality is, when you really think about it, those kind of people don't have a spare dollar to pay you to sort their shit out.

I work at an RIA, training to become an advisor. My bosses started it up a couple of years ago. I'm probably going to go find a different career, because I can't stand finding clients, but here's what I've figured out.

1. Compliance is your #1 worry. You absolutely need to register with both FINRA and the state before you can do anything. One fuck up can end your career prematurely. You also need a LOT of money for surety bonds and other things.
2. 99% of the job is sales. Nobody will want to trust you with their money because you're young and independent, which is ironic because older advisors tend not to care about their clients and the big companies are stealing their money anyways. They won't believe you when you tell them this.

Also note: Any form of marketing that does not involve you personally and physically interacting with the client is utterly worthless. We spent thousands of dollars on radio and newspaper advertising, didn't get a single incoming call.