Financial adviser business ideas

Financial adviser business idea


Financial advisory business ideas

Financial planning is necessary at every stage of our lives. The moment we start earning we must start strategizing the spending, saving and investment of it. The much crucial the financial planning is for us, the much it is often ignored. Robert T Kiyosaki in his bestseller Rich Dad Poor Dad has emphasized on financial education for all. He has rightly said in the book that due to the lack of the same, people often end up making wrong financial decisions. Decisions which lead them nowhere but towards heavy debt. But is it necessary for us to study medicine because we often get ill or is it necessary for us to learn to farm because we need food? No, right? We can hire a professional for financial planning just like we do for our other necessities.

If you have the qualification in the field of finance or if you have done any such course related to knowledge in the financial sector, you can choose to be a financial adviser as your business. Especially those who due to their qualification and knowledge are already doing a job in the finance industry. If they are feeling stuck in their job and wishing to be their own boss, this is the easiest business option for them. For those with an experience of working in the industry, this would be a cake-walk.

There are various categories of financial advising. You take one or a few of the following categories or you can choose them all. But you must have the complete knowledge of whichever category you take to advise others.

1. Personal Loans Advisory business ideas

The loan with the widest scope is the personal loan. It is a collateral-free loan and both employed and self-employed can apply for it. The role of an adviser is to guide its client throughout the procedure. There are numerous lending institutions around us each one of which claims to be better than the rest. An adviser can tell which one is better for its client. As personal loan adviser, you are expected to provide hand-held service to your clients i.e. from documentation till disbursement.

2. Business Loans Advisory business ideas

The category of loan which demands a lot of knowledge about the financial sector and also the rules and regulations of your state. There are different sub-categories of business loan. Some businesses require credit to meet its regular working capital requirement and some need a lumpsum investment to pump money into the business. The business loan adviser is supposed to take care of the documentation and find the right lending institute for their clients. As an adviser, you are also expected to stimulate routinely repayment of the loan of your clients. It becomes your responsibility that your client has a good loan repayment track record.

3. Car Loans Advisory business ideas

Everyone has a dream car which they wish to buy some day or the other. The easy car loan facilities through various financing companies have made this easier for all.  As an adviser of the car loan, you are expected to help your clients to obtain the loan in a way which is best suitable for them. On the basis of the income of your clients, you have to guide them about which lending institution is best for them, what tenure should they choose and how much loan amount they should opt for. You should provide the entire A to Z service for them to make it convenient for them.

4. Home Loans Advisory business ideas

Who doesn’t want to own a house? There is hardly anyone. The biggest achievement of a person’s life is to have one’s own shelter. However, it is one of the most expensive loans in many states. That is why it usually has a tenure as long as 30 years. This is something where an individual requires the right guidance which a home loan adviser can provide. As an adviser, you must have the entire knowledge of all the lending institutions because there are various factors which matter a lot. They are the rate of interest, processing fee, prepayment charges and many more. Your client is supposed to pay a fixed amount out of his/her income for a long period of time in the form of EMI. You must make sure that it truly worths it.

If you want to stand out in this profession then equip yourself with the knowledge of housing projects, property on sale or housing construction sites around you. Through this knowledge, you can also assist your clients in buying a right and affordable property.

5. Credit card advisory business ideas

The financial market is flooded with various types of credit cards. Each one has something lucrative to offer. People often get confused about which is more beneficial for them. There are different categories of credit cards for different categories of people. They are travel cards, dining cards, and shopping cards. One can choose a credit card depending on one’s lifestyle. Each individual has different preferences and way of spending. Therefore, choosing a card which would suit one requires a lot of research. People must, therefore, leave those worries to their credit card advisers.

6. Debt recovery advisory business ideas

Debt recovery is a bit of a herculean task for many businesses. Whether the organizations which are in the core business of lending or the ones where lending is a part of the business. An adviser is expected to guide those businesses in taking a proper step to recover those debts. As a debt recovery adviser, you are expected to have knowledge about the law related to debt-recovery in your state.

7. Financial audit advisory business ideas

If you have good knowledge of accounts as well as the business laws of your state, financial audit advisory is your thing. Most of the times many businesses lose their grip from the compliance while focusing on their core task. But this is something which any business cannot neglect because it hinders its survival. Therefore, in such a situation the help of an advisor is always appreciated.

8. Financial cost management advisory business ideas

Cost management requires special skill. If you have it then go for this business idea. And if you have only interest but not the qualification then there are special courses available for that. Businesses which requires stock management, such as trading and manufacturing units, often need advice on cost management. It is so because there are two aspects of the costs in a business, one is the cost of stock and another is of daily management. Therefore, an adviser’s help and guidance can ease their task to a major extent.

9. Financial forecasting advisory business ideas for business

Many a time a business has some future plans, such as expansion, diversification or alteration. They aren’t sure about the financial needs which may arise in future while executing their plan. A financial forecasting adviser can assist a business unit to develop a proper blueprint for future plans. You as an adviser are expected to work on various aspects, such as total fund required, what are all the government policies relevant to the plan, how much contingency fund must be kept aside and many more.

10. Business financial checkup advisory business ideas

Many a time a business firm fails to understand that why despite doing everything correctly, they are failing to reap enough profit. The reason behind it is usually that companies could spare time to revise their expenses or categorize them on the basis of their priority. You as an adviser must study the business activities closely and figure out for your clients what they are doing wrong. Guide them on what all expenses they can avoid to reduce their cost.

11. Personal finance advisory business ideas

Become a personal finance adviser for an individual or an entire family. Guide them for every financial decision of their life. Whether it is a loan, insurance or investment, you must have the knowledge of everything to execute this business idea properly.

12. Personal finance portfolio management business advisory

Portfolio management refers to dividing your investments into different instruments so as to get the best returns. There are various options for one to invest, such as equities, debentures, corporate bonds, government bonds, commodities and many other. Investing your entire investment in any one of these may prove fatal or less profitable. Some of the instruments have high returns but are subject to market risk. And some are risk-free but generate fixed returns. Therefore, a balanced division of investment is required. You, as a personal finance portfolio manager, can do the same for your clients.

13. Business plan finance advisory

Make use of your financial qualification and grip on the statistical representation of data to become a business plan adviser. Many of the upcoming entrepreneurs have a business idea but not the skill of business planning. You can help them.

14. Business finance management advisor

We have discussed cost advising business idea but there are several other aspects as well for the financial management of a business. Aspects such as bookkeeping, accounting, business funding, and others. You can do that entire job for your clients.

15. Investment banker advisory business ideas

Investment banks are those banks which provide financing to the businesses. You, as an investment banker adviser, can provide hand-held service to your clients. You can suggest them on choosing the right investment banker for them and can guide them throughout the procedure.

16. Mutual Fund Advisory business ideas

This is more or less like a portfolio management but the catch here is that the job for you as an adviser becomes much easier. The mutual funds are already diversified into different sectors. They are differentiated on the basis of the risk factor. You can do the analysis to find out the risk appetite of your client and his or her financial goals to suggest the right mutual fund.

17. Fixed Deposit Recurring Deposit business ideas

You can also choose to be an adviser on bank fixed deposits and recurring deposits. You have to suggest your clients the right bank where they can get maximum interest for their savings.

18. General Insurance advisory business ideas

It is a vast category to work on. General insurance includes house insurance, health insurance, factory insurance, vehicle insurance and other insurances of tangible property. As an adviser, you have to, first of all, advise your client to get the insurance if he/she is taking it as an unnecessary expenditure. Then you have to understand their requirement and choose the right policy from the right insurance companies. You must equip yourself with complete knowledge about each type of insurance and also with the knowledge of the features of the provider companies.

19. Life insurance advisory business ideas

Life is uncertain and we all know that. For a sole bread-earner of a family, it is a matter of huge concern that what will happen if something happens to his/her life. Insurance relieves people from this sort of worries. But which company has the most beneficial life insurance product? How much life cover one should avail for? What are all the hidden terms and conditions? These all questions come to one’s mind while planning to get a life insurance. You as an adviser can provide answers to all these questions to your clients.

20. Share trading advisory business idea

Many retail investors want to learn share trading or at least need the advice to buy the right equities. If you have good knowledge about the share market and a great understanding of market trends, you can be a share trading adviser. This is an area where you have to be really good and confident in your knowledge.


21. Commodities trading business ideas

It is another area of investment which requires a lot of knowledge because the lack of the same may prove highly risky. The number of investors who are willing to invest in commodity exchange is limited. You will have a small client-base to work on but they are the creamy layers of the investors’ group. Therefore, you can earn a good profit with your less number of clients itself.

22. Insurance Advisory business ideas

You can combine both types of insurance viz, life and general insurance by expanding your area of knowledge. And consequently, can serve as a full-fledged insurance advisor.

23. Financial compliance business ideas

As a financial compliance adviser, you need the knowledge of finance plus the financial law of your state. As an adviser, you have to make sure your clients are not breaking any rule in order to reduce their expenses or increase their profit.

24. Financial documentation advisory business ideas

There are different financial documents which a business must maintain depending on the rules and regulations of the state it is operating in. The business firms can leave all those worries to their financial adviser who is specialized in preparing and maintaining the important financial documents.


About the author


Business Updater is that one website which ardently supports business habits across the globe. We highly appreciate all types of business ideas whether it is big or small, tried-and-tested one or an innovative one, whether it runs on online medium or offline. Each business idea worth praises and the brain behind it is even more laudable. The growth which the world has been experiencing so far is only the outcome of the efforts of several innovative minds. It takes plenty of intellectual skills to understand the need of the people and a lot of creativity to offer them the right solution or product. Therefore, we can conclude that a successful business is a combination of intelligence and creativity.

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