What does a self-employed financial planner spend most of his time doing?
1) Meeting and planning with existing clients?
2) Cold calling or networking for new clients?
3) Executing trades online?
4) Planning investing strategies for specific clients?
5) Filling out tax forms and other dull paperwork?
6) Catching up on the latest revisions to tax rules, etc.?
Please let me know what you spend the MOST time doing. I’m considering becoming a CFP, but I’m not a very procedure-oriented person. I enjoy exploring strategies for clients, and meeting with clients, but I’m not much of a “fill out papers all day” kind of guys.
Thanks in advance for your help!
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about 1 year ago
7) Goofing off, surfing the internet.
A friend of mine is a self-employed CFA and she does all of the above. #2 is probably the most important and takes the most time until you build up a client base, which could take many years. She runs her stuff through Fidelity so I think that takes care of most of the back office stuff.
about 1 year ago
pray
about 1 year ago
Filling out paperwork will become part of the day to day job after gathering you clients but will not take up most of your time. Closing the deals will take up the most of your time/filling out the paperwork to get paid for your services will also take up your time. 10% for each will be directed to number 1-6 and the other 40% will be directed to closing the deal and getting paid so that one can survive in today’s harsh world.
about 1 year ago
It depends, if you are just starting out, alot of cold calling, meeting people and trying to network.
Later on when you are established most of your time is spent meeting with clients, showing them how the money is doing, and actually investing the money and making decisions.
about 1 year ago
7) Watching “Lost”