Insurance Agent As Registered Investment Advisers


If you aren’t familiar with investments, you might feel intimidated by managing investment accounts for clients. You don’t have to be worried because everything can now be done online or through sub-contractors. You will only need to maintain the relationship with clients and someone else will take care of the investing.

Fixed products such as annuities can be taken out by customers who are selling variable products like stocks, bonds, mutual funds and other securities. You are usually open to being charged that you advised the customer to liquidate the variable product and that they did not have a license to provide investment guidance. You can become a registered investment advisor to avoid any legal problems.

Do not waste any more time on getting paid
Your advice has been free for many years. Is that what your lawyer does? Your CPA Your doctor? Why should you charge for your time? It is a good idea to charge for your guidance and time. Once you have a registered investment advisor certificate, you can start getting paid for your guidance and time.

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The simplest way to get annual service fees is to become a registered investment advisor
The money manager will manage your client’s accounts, but you still get a portion of the fee each year for maintaining client relationships. You probably got into this industry because you enjoy people. Maintaining relationships is something you are good at and get paid every year for it.

Make money by reviewing annually
You can charge a fee to do retirement planning. As people redo their old retirement plans, incomes may rise. You can also maintain a healthy cash flow by providing the services your clients desire, whether you are doing estate planning, college funding planning or any other type of advice-based planning.

Similar, there are many workers reaching retirement age in the US. They might be looking to acquire real estate, or move to a different location. How do you plan to help them? What about small-business owners who lost their business? Do you have any financial projects that you can offer (e.g. the $5,000 financial makeover), where you might provide planning and advice services.

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The point is that the more you provide value to clients and prospects, the better you will be able to withstand economic uncertainty. If you only do one thing, such as selling insurance, then money will slip through your fingers. If you offer so many products and services that are not differentiated, such as the purchase of insurance, it is necessary to provide additional services in order to maintain your importance to the buyer. The more services you offer, the more valuable you will be. To be a true advisor, you need to get a certificate as a registered investment advisor.

Steps to becoming a RIA:

1. Contact your state’s office of securities, or any other department that regulates RIAs.
2. Download the application. Send it back with the payment.
3. You must pass the series FINRA 7 exam in most states.