Start by learning what the different designations mean. You may have noted that there are three popular financial designations that most financial planners hold. You’ll want to choose one with one of these designations.

A Certified Financial Planner (CFP) must attend about two years of training and pass a rigorous test, like many CPA’s. This designation is given by the Certified Financial Planning Board of Standards, a national organization. A Certified Financial Planner must earn a passing grade on a ten-hour test given during the course of two days after two years of preparatory courses. The Financial Planning Association can provide you with a listing of Certified Financial Planners.

You may have also encountered some Chartered Financial Consultants. These graduates of American College in Pennsylvania have completed a number of exams and obtained real life experience before earning their designation. However, the program is geared more toward the insurance profession than broad based financial planning. The Society of Financial Professionals can provide you with a list of these consultants.

The American Institute of Certified Public Accountants offers its own designation, a Personal Financial Specialist (PFS). Certified Public Accountants can earn this additional designation by completing a series of comprehensive tests and demonstrate experience in fiscal planning. Most of these designates are members of the National Association of Personal Financial Advisors. They can refer you to a PFS in your area.

All of the above certifying agencies require at least three years of experience prior to certification. Other designations do exist. However, these three are the most reliable. Since many unscrupulous individuals decide to call themselves ‘financial planners,’ you would be wise to search for one with a certification from a nationally recognized organization.

Since the Securities and Exchange Commission does not regulate smaller financial advisors (those with under $25 Million under advisement), it is up to you to screen your financial planner carefully.

Ask your planner for a copy of Form ADV, Part II. If you are not familiar with the form, they’ll be. This form is prescribed by the Securities and Exchange Commission from every financial planner and should spell out how and what the planner will be provided and any incentives they may earn. Sometimes they’ll provide such information in booklet or pamphlet form. However, you will know up front what your fees will be.

Finally, check references. A reputable planner will not mind giving you a few references to call. Find out if they handle portfolios similar to yours and if the customer is satisfied with their services. Ask about fees.

It’s your future, so doing a little homework up front and making sure that you are getting what you pay for is well worth it in the long run. Make sure that your financial planner holds a nationally recognized designation and check him out before you hand over your hard earned money. Your time and effort is a wise investment when shopping for a financial planner.

Independent Financial Advisers (or IFAs) help clients to choose the most appropriate financial products and services, such as investments, savings, pensions, mortgages or Insurance. Financial advisers can work in one of three ways-‘tied ‘, ‘multi-tied’ or independent: tied advisers usually work for banks, building societies or Insurance companies, and only offer that company’s financial products multi-tied advisers deal with a certain number of companies and sell products from only those companies independent financial advisers (IFAs) offer whole-of-market advice.

The financial planning graduates can also find employment with financial institutions such as, banks, financial planning companies, credit unions, investment dealers, life insurance companies, and mutual fund companies.

Just when you thought there wasn’t any more…

IFAs have to follow strict standards and guidelines from the Financial Services Authority (FSA), to make sure that you act fairly and are properly qualified to give appropriate financial advice.

There are no set entry requirements for becoming a financial adviser. Many employers consider ‘people skills’ and a solid background in customer service, sales or financial services to become more important than formal qualifications. You will often start as a tied adviser in a bank, Insurance company, or building society, after being promoted from a customer service role and working towards a Financial Services Authority-approved qualification.

You could also start as a paraplanner, providing administrative support and the quest for independent financial advisers. If you’re not already working in financial services, you could take an FSA-approved qualification for trainee financial advisers before you join the industry. Some banks, building societies and large enterprises of IFAs offer graduate training schemes for new advisers with degrees or similar qualifications.

Chartered Insurance Institute (CII) Certificate in Financial Planning ifs School of Finance Certificate for Financial Advisers (CeFA).

You can achieve Chartered Financial Planner status with the CII when you have the CII Advanced Diploma in Financial Planning and at least five years’ expertise in the industry. See the CII and Personal Finance Society websites for more details.

There are so many different qualifications an IFA can have, we have set them place in a table on our website. In a nutshell, there are several levels of adviser, and there have been attempts to work out the extent of each. To Level A and Level B.

Degrees in Finance have always been quite popular, as well as with the advancement in technology, more business schools are offering business finance courses completely online. While an Online Bachelor’s Degree in Finance helps in developing a basis for a career in finance, advanced degrees can help you to develop leadership roles.

Most organizations give preference to normal graduates over graduates with financial planner certificate as the former is cheap. They de-emphasise the importance of periodically re-evaluating their strategies and do not realize until they face a capital crisis by doing this.

Moving Forward With This

To be your own boss and not working for somebody is the best that can happen to you. If you’re investigating the feasibility of starting your own set up from home then choose the one which has minimum entry roadblocks and requires little initial investment. This will have more competition because of low initial investment however the point is that it will allow you to start quick and fast.

The most important step is to remember that the creation of a business is an art and not a science. There are no specific formulas of how to do things. All you got to do is gather knowledge to support and reduce risk in your every move. A business requires innovation, with a view to differentiate yourself from your competitors and to establish a competitive advantage. Think out of the box, learn the basics and then use them in any manner you thing it is fair to do so. Instead of paying attention on the means to do things pay attention on how things work. If you know how something works you can spot problems and fix them, learn from your mistakes and never give up.

Continuing The Start Bookkeeping Business Discussion

In conclusion, you need to give attention to your customers, base your products on their needs, promote them and as you grow try to find more persons to enter your business. After all, a business depends mainly on people, with a view to function properly, thus choose them wisely. And remember to be innovative in your every step to create a competitive edge over your competitors.

One such business is the bookkeeping business which meets the basic criteria of low technical know how as well as requires just an investment in a desktop computer. That said the low entry barrier means that there will be extremely tough competition and you’ll have to use all your marketing skills to drum up business.

Many smaller scale bookkeeping businesses begin as ‘home businesses’ and this needs to be not viewed as a negative in the company plan. If you have devised a strong business plan, growth of the firm will be the key and then you can plan to move into an office space when your bookkeeping business becomes financially viable and turning a profit. It is worth considering the requirements of your potential clientele, and in which location you’ll be better able to serve them via your bookkeeping business. Further to these needs you should likely decided on the required technology to effectively manage your bookkeeping business. Again your needs will most probably develop as your business develops, so starting small is a good idea.

As was touched on earlier in this article, the net can serve a lot of use in developing your bookkeeping business plan. Firstly it can provide thorough research on your competitors, your target market, and the requirements of your potential clientele. Further to research it will be clear to view the most effective form of internet advertising. This will be more than likely localized pay per click marketing campaigns.

The most important part of a successful bookkeeping business plan, is to be thorough in everything you set out to accomplish. With proper research, understanding potential clientele, and knowing your competition you’ll have the greatest chance of not only developing the strongest business plan, but also creating he basis for a successful bookkeeping business.

Enroll yourself in the online bookkeeping classes and that will allow you to get some good knowledge about the bookkeeping. You don’t need an advanced degree however you should be proficient enough to fully understand the technicalities involved.

The next stage is to have the accounting business cards printed and also make sure that you’ve got the business registered with the local chamber of commerce. To gain a few clients you may be required to reduce your bookkeeping rates initially. That said there may be some difficulty and it’s your persistence that will pay off. You need to gain some head start in marketing so that you will be able to gain good clients.

Once you have few clients then the next logical step is to hire freelance bookkeepers to work the business for you and you should focus on getting more business. The bookkeeping business is really volume business. The more the volume the more profits you’ll make.