FINANCIAL SERVICE OPPORTUNITIES: Regulatory and Other Dangers

The regulatory aspects of operating a practice that not only provides financial planning services but also has the capability of bringing a financial plan into fruition through the purchase of securities and insurance products are examined in detail. This article removes the mystery from what it takes to be able to earn commissions while providing professional services to clients. It is also a reality check - the ability to earn commissions and similar fees comes with a price. The special rules and requirements of conducting a securities advisory business, the unique aspects of commission sharing with insurance policies, the form of entity to use in providing new services, and the need for risk management are examined.