Can You Be a Part-Time Financial Advisor?

my check it’s time for a Mic Check is it go time let’s go let’s do this Zoom Zoom Zoom Zoom Zoom a boom boom what’s going on everybody Jeff Rhoads with good financial sense with another edition of dollars and cents what am I doing here I’m answering your question that’s right a reader question and I give you an answer that you may or may not like I hope you like it I hope you like this video hope you’re still listening you still here Mic Check ok today’s question comes from Derek Derek ass hey Jeff first thing I want to say great vlog there come on anybody give me the pound give me the pound give it give it all right cool so Derek ass I’m currently in the workforce and entertaining a new profession as a financial planner I really enjoy keeping up with the markets and many of my friends and co-workers come to me for advice on their investments some water-cooler twice oh look out for that I’ve been doing some research and getting in the business and it seems daunting as many of the big brokerage firms want you to work crazy hours the first couple of years I’m not ready to give up my day job quite yet and was considering giving it a go part-time what do you think about the likelihood of becoming a part-time financial planner all right Derek great question and bleed or not you’re probably the umpteen person that asked me the exact same question many people want to become a financial pioneer they want to get in the business they’re not quite sure if it’s right for them so they want to give it a go part-time the question is can you do it first let me say yes you can now all you have to do is get license you might want to get your series 65 license most states that’s what they require but the question really really is yes you can do it but imagine trying to approach your friends your family new people that don’t know you yet and say hey I want to manage your investors I want to help out with your investments with your financial planning goals but I’m only doing it part-time does that really work would you really trust somebody doing something for you part-time imagine that you needed heart surgery and you go to your local UPS Store and the guy misses you hey by the way not only do I do this but also a part-time heart surgeon how would that make you feel not only can I get your package delivered by Saturday morning Express but I can also open up your heart and clear that left ventricle ready to get started it probably wouldn’t make you feel that comfortable right and you have to think with people’s investments with their money with all their life savings this is really important to them so they won’t be able to trust the individuals that working with now you might build up a nice little small clientele with the people that know you but further than that it was going to be very very very challenging now I don’t want to prohibit you from trying because I love this profession I love helping people and if that’s in your blood if that’s in your nature then go for it so if you’re interested in being a part-time financial planner those are some of the things you have to take into consideration this is Jeff rose with another edition of dollars and cents we’ll see you next time