#108: What do I need to do to legally give basic investment advice?

Join Josh and Amelie to discuss investment advice and what you need to do to legally/ethically give investment advice. Top takeaways: You do not need a CFP to give investment advice; you need to register as an investment advisor with your state. There are licenses to sell and earn commissions, sell insurance, give investment advice, etc. Series 65 is license to give advice as an investment advisor (you cannot sell products). In order to get a sales license, you need to be sponsored by a company. You are not being licensed as a financial advisor or investment advisor, you are a sales rep (title on license is “registered representative”). To get the series 65, you can be sponsored by a company or start your own RIA firm. If you are going to sell products, you generally cannot charge for your coaching services. Your regulation requirements skyrocket with any of these options. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow