Financial Advisor Business Plan

Q: What Is a Financial Advisor Business Plan?

A financial advisor business plan is a plan to start and/or grow your financial advisor business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections. You can easily complete your financial advisor business plan using our Financial Advisor Business Plan Template here.

Q: What Are the Main Types of Financial Advisor Companies?

There are different types of financial advisor businesses. The most common kinds are the investment advisors, broker-dealers and brokers, certified financial planners, financial consultants, wealth advisors, and portfolio, investment, and asset managers. There are also digital platforms that provide automated, algorithm-driven investment services with little to no human supervision called robo-advisors.

Q: What Are the Main Sources of Revenues and Expenses for a Financial Advisor Company?

The primary source of revenue for financial advisor companies are client fees that are usually charged on an hourly basis or as a percentage of client assets under management. Another source of income are commissions for certain financial transactions, such as the sale of insurance products or the buying and selling of securities. The key expenses for financial advisor companies are salaries and wages, and office space rent.

Q: How to Start a Financial Advisor Business?

Acquire the necessary licenses required to provide financial advisor services Choose a business structure for your financial advisor business and register with the state. Create a financial advisor business plan. Secure office space and equipment. Market your new financial advisor business.

You’ve come to the right place to create your financial advisor business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their financial advisor businesses. Our financial advisor business plan template will help you create your business plan, ensuring that you have all the necessary elements to make your financial advisor business a success.

You can download the Financial Advisor business plan (including a full, customizable financial model) to your computer here

To write a successful financial advisor business plan, you will first need to decide what type of financial advisor services you will offer. Will you be working with small businesses? Or are your target customers individuals saving for retirement?

You will need to gather information about your business and the financial advisor industry. This type of information includes business goals, customer demographics, market research, and financial statements.

Financial Advisor Business Plan Template

Below are links to each section of a financial advisor business plan example:

1. Executive Summary
2. Company Overview
3. Industry Analysis
4. Customer Analysis
5. Competitive Analysis
6. Marketing Plan
7. Operations Plan
8. Management Team
9. Financial Plan

Financial Advisor Business Plan FAQs

What Is a Financial Advisor Business Plan?

A financial advisor business plan is a plan to start and/or grow your financial advisor business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your financial advisor business plan using our Financial Advisor Business Plan Template here.

What Are the Main Types of Financial Advisor Companies?

There are different types of financial advisor firms. The most common kinds are the investment advisors, broker-dealers and brokers, certified financial planners, financial consultants, wealth advisors, and portfolio, investment, and asset managers. There are also digital platforms that provide automated, algorithm-driven investment services with little to no human supervision called robo-advisors.

What Are the Main Sources of Revenues & Expenses for Financial Advisors?

Financial advisors make money on client fees for financial planning services. These are usually charged on an hourly basis or as a percentage of client assets under management. Another source of income are commissions for certain financial transactions, such as the sale of insurance products or the buying and selling of securities.

The key expenses are salaries and wages, and office space rent.

How to Start a Financial Advisor Business?

Starting a financial advisor business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

Write A Financial Advisor Business Plan - The first step in starting a business is to create a detailed business plan that outlines all aspects of the venture. This should include market research on the financial industry and potential target market size, information on the services and/or products you will offer, marketing strategies, pricing details, competitive analysis and a solid financial forecast.
Choose Your Legal Structure - It's important to select an appropriate legal entity for your business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your financial advisor business is in compliance with local laws.
Register Your Business - Once you have chosen a legal structure, the next step is to register your financial advisor business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
Identify Financing Options - It’s likely that you’ll need some capital to start your business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
Hire Employees - There are several ways to find qualified employees and a top notch management team, including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your business. Marketing efforts includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising to reach your target audience.

Learn more about how to start a Financial Advisor business:

How Do You Get Funding for Your Financial Advisor Business Plan?

Financial advisor businesses are typically funded through small business loans, personal savings, credit card financing and angel investors.

A financial advisor's business plan should include a detailed financial plan to secure any type of potential investor. This is true for all types of financial advisor business plans including a financial planner business plan and a wealth management business plan.

Where Can I Get a Financial Advisor Business Plan PDF?

You can download our free financial advisor business plan template PDF here. This is a sample financial advisor business plan template you can use in PDF format.