26 Business Ideas For Financial Advisors [2024]

Interested in starting a business as a financial advisor in 2024?

If managed well, building a business as a financial advisor could be more lucrative than employment. So, which are the best business ideas for Financial advisors?

We put together 26 of some of the best financial advisor business ideas you can start in today.

For each business idea, we'll show you real-world examples of other financial advisor businesses to help you see what it takes.

Here's the full list:

1. Start a niche investment platform ($167K/month)

Starting a niche investment platform could be a highly lucrative venture for a financial advisor looking to supplement their income or establish a side business. By leveraging your expertise in finance, you could create a specialized online exchange focused on alternative asset classes like collectibles, real estate, or cryptocurrencies. This platform would cater to investors who seek asset diversification beyond traditional markets.

As the founder of such a platform, you could utilize modern technology to build transparent trading ecosystems, offering flexibility in portfolio combinations. This would help attract and retain an exclusive user base, generating recurring revenue through transaction fees and premium subscriptions. In volatile stock market conditions, a niche investment platform provides an opportunity to engage brokers and traders passionate about specific, non-traditional asset classes, ultimately tapping into a market that craves diversification.

2. Become a business coach ($55K/month)

Starting a side business as a business coach could be a lucrative way to supplement your income as a Financial Advisor. By leveraging your expertise in areas such as stress management, leadership, and marketing, you could guide aspiring entrepreneurs through the complexities of starting and growing their businesses.

Many small-business owners struggle to identify and capitalize on opportunities. As a business coach, you could help these entrepreneurs navigate these challenges, ultimately helping them succeed while diversifying your own income streams and enriching your professional experience.

With the demand for business coaching on the rise, your financial acuity paired with specialized business knowledge could set you apart as a highly sought-after coach. Exploring this avenue could not only provide a rewarding way to use your skills but also expand your professional network and open new doors.

3. Create an online course ($83.3K/month)

As a financial advisor, starting an online course could be a lucrative way to supplement your income or even launch a brand-new business. You could create digital classes covering specialized topics like retirement planning, investment strategies, or tax optimization, catering to individuals seeking in-depth financial advice. By identifying educational gaps in the financial landscape, you can develop engaging video lessons and supplementary materials that provide immense value to your students.

This online course business offers flexibility, allowing you to design self-paced or cohort-based learning experiences. Such a venture not only provides passive income potential through a growing student base but also allows you to monetize your instructional talents with minimal startup costs. For financial advisors who enjoy sharing their knowledge, an online course platform presents a practical and rewarding entrepreneurial opportunity to serve lifelong learners seeking convenient access to essential financial skills.

4. Start a bicycle company ($394K/month)

As a financial advisor, you could tap into the growing demand for bicycles, driven by heightened awareness of fitness and environmental sustainability. The Covid-19 pandemic has surged interest in biking as a healthy and eco-friendly alternative to public transportation. By starting a bicycle company, you could supplement your income by capturing a share of this expanding market and offering high-quality products that resonate with health-conscious and environmentally aware consumers.

Additionally, your financial acumen could provide a unique advantage in establishing a profitable bicycle business. You could leverage your skills to meticulously research the market, identify lucrative niches, and strategically position your brand. By carefully managing production costs and optimizing financial operations, your bicycle company could become a thriving venture, complementing your primary profession while allowing you to diversify and expand your financial portfolio.

5. Start a seafood sales business

Starting a seafood sales business could be a lucrative side venture for a financial advisor, leveraging your understanding of market trends and consumer demand. Given the anticipated doubling of global demand for aquatic foods by 2050, investing in a frozen seafood business could offer robust growth opportunities.

With your analytical skills, you could effectively conduct market research to identify the most in-demand products like salmon, cod, shrimp, and lobster. By sourcing from reputable suppliers or even considering food processing, you optimize costs and enhance business profitability. This entrepreneurial endeavor allows you to diversify your income streams and potentially establish a successful business parallel to your financial advisory career.

6. Start a data management software company ($18.3K/month)

Starting a data management software company could be a lucrative side business or full career shift for a financial advisor. Leveraging your expertise in financial data and analytics, you could develop software solutions that help businesses efficiently organize, store, and analyze their data. This venture would cater to the increasing need for robust data management tools amidst data-driven decision-making environments.

The profound knowledge you possess in data security protocols and financial analyses can translate into creating a product that businesses across various sectors find indispensable. Offering seamless data integration and reliable analytics aligns with your skill set, allowing you to cater to clients looking to gain a strategic advantage through actionable insights.

While it requires a solid technical background and continuous updates, the potential market demand presents substantial growth opportunities for entrepreneurial-minded professionals like yourself.

7. Start a home schooling business

As a financial advisor, starting a home-schooling business could be a strategic way to supplement your income or create a new revenue stream. Leveraging your analytical skills and commitment to client success, you could offer financial literacy courses for homeschooling curriculums, helping students understand critical concepts such as budgeting, investing, and financial planning from an early age. Your expertise in breaking down complex financial information into understandable lessons could set your business apart in a growing education sector.

Additionally, the organizational skills and structured environment you already employ in your financial advisory practice are directly transferable to creating a well-structured and comprehensive education platform. By offering both online and in-person tutoring, you could cater to a wide range of students and adapt to their individual learning styles. Building a network of educational resources and maintaining clear communication with parents will be key to your success in this endeavor.

Overall, combining your financial expertise with a passion for teaching, you could not only expand your income streams but also contribute meaningfully to the education sector, helping the next generation gain essential financial skills.

8. Start a marketing coaching business ($69.6K/month)

Starting a marketing coaching business could be a natural extension of your expertise as a financial advisor. Your knack for strategy and analysis would allow you to effectively guide businesses in sharpening their messaging, refining their strategies, and amplifying their voices. Imagine helping companies identify their unique selling points and develop tailored marketing plans that resonate with their target audiences, all while leveraging your financial acumen to ensure their strategies are also cost-effective.

The startup cost for a marketing coaching business is minimal—just your expertise and strategic insights. You could begin with one-on-one coaching sessions, group workshops, or even online courses, offering flexible ways to engage with clients. Analyzing market trends, crafting compelling content, and delivering actionable insights could drive significant growth not only for your clients but also for your burgeoning side venture.

If you're passionate about marketing and eager to help others succeed, a marketing coaching business could be highly rewarding both financially and emotionally. This venture could transform your marketing prowess into a profitable business while empowering others to achieve their marketing goals. Ready to make the leap? Start building your marketing coaching business today.

9. Start a potpourri sales business

Starting a potpourri sales business could be a fascinating and profitable venture for a financial advisor. Leveraging your understanding of market trends and consumer behavior, you might find it easy to identify target demographics and craft marketing strategies that appeal to them. Additionally, your financial acumen would allow you to manage production costs, set competitive pricing, and maximize profit margins effectively.

A potpourri business also allows for flexibility, as you could initially start small, perhaps through online sales or local craft fairs, requiring minimal initial investment. This side business could not only generate extra income but also serve as a creative outlet, offering a refreshing balance to your data-driven profession. Such an endeavor would provide an entrepreneurial experience, allowing you to diversify your income streams and potentially scale the business over time.

10. Start a school field trip business

As a financial advisor, you could leverage your organizational skills and network to start a school field trip business, offering a reliable and educational service that caters to local schools. Your expertise in planning and budgeting could ensure trips are both cost-effective and enriching, meeting the needs of educational institutions while providing exceptional value.

By understanding risk management and contract negotiation, you could secure partnerships with transportation services, venues, and other vendors to create seamless and safe experiences for students. This side business could complement your primary career by showcasing your holistic approach to financial planning, emphasizing a blend of trust and competence.

11. Start a breakdown welding service business

As a Financial Advisor, you could consider leveraging your analytical skills and network to start a breakdown welding service business. Your ability to manage finances and understand market trends will be invaluable in identifying lucrative opportunities, setting competitive rates, and ensuring operational efficiency. This business can start as a side hustle, allowing you to manage your primary career while building an additional income stream.

Moreover, your existing client base might include businesses that require welding services, providing a ready-made market for your new venture. With strategic planning and efficient resource management, you could establish a viable business that complements your financial expertise and offers a reliable, diversified income source.

12. Start an investment consulting business ($263K/month)

Starting an investment consulting business could be an excellent way to leverage your expertise as a financial advisor into a lucrative entrepreneurial venture. By offering tailored investment strategies and helping clients manage, grow, and protect their financial assets, you could create a service that is in high demand, especially as the demand for personalized financial advice continues to grow.

If you are passionate about finance and skilled at simplifying complex information for others, this could be a highly rewarding endeavor. Building strong client relationships and staying current with market trends could allow you to carve out a niche and establish a thriving consultancy, transforming your financial acumen into a successful business.

13. Start a cleaning business ($175K/month)

Starting a cleaning business could be a practical and profitable venture for a financial advisor looking to supplement their income or diversify their portfolio. This business is relatively easy to establish and requires minimal startup funds for essential equipment like vacuums, quality mops, and eco-friendly cleaning products.

With your analytical skills and experience in managing finances, you could efficiently plan and scale the cleaning services you offer, from residential home cleaning to specialized services like office cleaning. This flexibility allows you to decide which hours you are available, making it an ideal side business that can grow with your schedule.

Additionally, being your boss in this venture could provide valuable insights and firsthand experience in budgeting, business development, and customer relations—skills that will further enhance your primary career as a financial advisor.

14. Start a car ramps business

As a financial advisor, you could diversify your income by starting a car ramps business. With new car sales driving up the demand for garage and carwash services, there’s a promising market for specialized car ramps. By tapping into this demand, you could create a steady revenue stream, especially if you or a partner has welding and metal fabrication skills.

You could begin by researching the most popular and effective car ramp designs to ensure your products meet market needs. Subsequently, focusing on marketing and obtaining orders from local garages and carwashes would be crucial to growing your business. This venture could complement your financial advisory career, adding a practical, hands-on aspect to your professional portfolio.

15. Start a motorcycle dealership business

As a financial advisor, leveraging your financial acumen to start a motorcycle dealership business could be a lucrative side venture. Your expertise in investment strategies and market analysis could help you make informed decisions about inventory acquisition and pricing, maximizing your return on investment. Additionally, your established network of clients could serve as a valuable marketing base, providing initial traction for your dealership.

Furthermore, a motorcycle dealership offers diversified revenue streams such as bike sales, parts, and service, as well as financing options, which align well with your financial skills. This diversification could create a stable side income while allowing you to apply and showcase your financial expertise in a new and exciting industry.

16. Start an adventure clubs business

As a financial advisor, starting an adventure clubs business could offer a unique opportunity to diversify your income while indulging in your passion for the great outdoors. By organizing excursions such as hiking, kayaking, and rock climbing, you could cater to clients who value enriching experiences over material possessions, tapping into a growing market of adventure-seekers.

Your current skillset in planning, managing risks, and building relationships could translate effectively into this new venture. Partnering with local guide agencies and securing insurance would be crucial steps, but the payoff is the creation of a community-centered business that offers memorable experiences. This venture not only supplements your income but also allows you to enjoy a lifestyle filled with nature and camaraderie.

17. Start a comic entertainment business ($37K/month)

Starting a comic entertainment business could be an exciting and rewarding avenue for a financial advisor with an entrepreneurial spirit. With your analytical skills and expertise in financial planning, you could effectively manage the logistics and finances of sourcing a diverse collection of comics, from indie publications to mainstream hits. This venture would also enable you to leverage your networking capabilities to connect with artists and promote events.

Creating a space where comic enthusiasts gather could also open up opportunities for hosting events, like comic art exhibitions and drawing classes, which can generate additional revenue streams. By engaging the community through these activities, you'd not only boost sales but also build a vibrant and loyal customer base. If you possess a passion for comics and a desire to foster creativity within your community, this business idea could offer both personal fulfillment and financial gain.

18. Start a mobile phone business

If you're a financial advisor with an eye for tech and a knack for sales, starting a mobile phone business could be an intriguing side venture. This business involves selling mobile phones and related accessories both online and offline, tapping into the ever-growing demand for the latest smartphone models and accessories.

Given the surge in smartphone usage, people are constantly seeking upgrades and new accessories, providing a lucrative market for your entrepreneurial efforts. By leveraging your analytical skills and understanding of market trends, you could identify reliable suppliers and build a loyal customer base, ultimately boosting your income.

Starting small with manageable inventory and focusing on customer service and quality will be key to carving out a niche in this competitive sector. Dedication and quick adaptation to new tech trends will be essential, but the potential rewards could be substantial, making this venture worth considering.

19. Become a band manager

As a Financial Advisor with an entrepreneurial spirit, becoming a band manager could be an intriguing and profitable venture. Utilizing your negotiation skills and understanding of financial structures, you could help bands navigate contracts and build sustainable careers. Your expertise in financial planning would be invaluable in guiding artists through budgeting, investments, and long-term financial strategies.

Additionally, your established network and relationship-building prowess could open doors for bands to secure clients and gigs, enhancing their exposure and revenue streams. By starting with local choirs or music groups, you can gradually hone your band management skills and eventually move on to representing more established bands. This side business could not only diversify your income but also allow you to explore a passion for music and artist development.

20. Start a recruiting agency ($109K/month)

Starting a recruiting agency could be an excellent supplementary income stream or new business venture for a financial advisor. Leveraging your deep industry connections and understanding of the financial sector, you could successfully match qualified financial professionals with firms in need of their expertise. This niche focus could make your agency particularly attractive to clients seeking specialized talent.

With the global online recruitment market projected to grow from $29 billion in 2019 to $43 billion by 2027, the potential for substantial revenue is significant. Running a recruiting agency allows you to utilize your skills in networking, assessing talent, and understanding organizational needs. Real-world experience and client feedback are crucial for success, so be prepared to continually refine your business based on results and client satisfaction.

21. Become a juggler

As a financial advisor with an entrepreneurial mindset, starting a juggling business could offer a creative outlet and supplementary income stream. You could perform juggling acts at corporate events, birthday parties, street performances, and festivals, offering a unique blend of entertainment that sets you apart in the market. The flexibility of performing at events on your schedule makes it an excellent side venture that won’t interfere with your primary responsibilities.

With your background in financial advising, you could efficiently manage the financial aspects of a juggling business. Capitalizing on your networking and marketing skills, you could reach out to event planners, venues, and fellow entertainers to create a strong client base. By leveraging social media and a professional website, you could showcase your juggling expertise and attract a diverse range of clients, turning your passion for performing into a lucrative business opportunity.

22. Start a no code automation business ($23.5K/month)

As a financial advisor, you could start a no-code automation business as a side venture to supplement your income. Leveraging your knack for problem-solving and understanding of business processes, you could use no-code tools to automate repetitive tasks and workflows for other companies. For example, you could help businesses streamline their email marketing campaigns, integrate various apps, and manage customer data more efficiently—all without needing advanced programming skills.

With the rising demand for operational efficiency, companies are increasingly looking for ways to reduce costs and simplify processes. Your understanding of financial intricacies and business operations uniquely positions you to offer valuable, customized automation solutions. Exploring popular no-code platforms and earning relevant certifications could further enhance your credibility, making this an appealing and profitable entrepreneurial pursuit.

23. Start a jewelry design business

As a financial advisor, launching a jewelry design business could provide you with a unique creative outlet while supplementing your income. Your analytical skills and attention to detail will be invaluable in managing this venture, where designing, creating, and selling unique jewelry pieces demand precision and a keen eye for trends.

By sourcing quality materials and leveraging online platforms like Etsy or setting up your own e-commerce site, you could reach a broad audience and establish a distinct brand. While the artistic aspect is rewarding, the business also requires persistence, continuous skill refinement, and strong customer relationship management, aligning well with your existing client service expertise.

24. Start a calorie tracker app business

As a financial advisor with an entrepreneurial mindset, you could diversify your expertise by starting a calorie tracker app business. If you have an interest in health and technology, this venture blends your analytical skills with an opportunity to offer a valuable service that promotes overall wellness. You could develop an app that helps users monitor their daily food intake, offering insights into their diet, nutrition, and personal health goals.

By building a user-friendly interface and integrating a comprehensive database of nutritional information, you could provide a seamless and engaging user experience. Envisioning advanced features like personalized goals, real-time tracking, and integration with wearable devices for automatic calorie logging, you could attract a dedicated user base.

Moreover, introducing premium subscriptions for more tailored experiences could create a steady revenue stream. This business idea doesn’t just supplement your income but also leverages your planning skills and client-focused mindset, making it a fulfilling and innovative venture.

25. Start a scrap metal business

As a financial advisor with an entrepreneurial mindset, you could explore starting a scrap metal business to supplement your income or even create a new revenue stream. This venture involves collecting scrap metal, sorting it by type (like aluminum cans, discarded appliances, or construction waste), and selling it to recycling facilities or foundries. The business is appealing because it requires minimal capital to start, leveraging the discarded metal items readily available in your local community.

Given the increasing trend of eco-conscious consumers and industries favoring recycled materials, the demand for scrap metal is on the rise, making it a lucrative opportunity. Beyond financial gains, this hands-on and labor-intensive business can offer the rewarding experience of contributing positively to environmental conservation. Essentially, you turn "one man's trash into another man's treasure," tapping into both profits and eco-friendly practices.

26. Start a customer intelligence analytics business ($107K/month)

As a financial advisor, starting a customer intelligence analytics business could be a natural extension of your analytical and communication skills. By leveraging your expertise in data analysis, you could help companies understand their customer base better, leading to improved business decisions and increased profitability. Your ability to interpret complex financial data would be invaluable in turning raw customer interactions into actionable insights.

You could provide valuable services to a wide range of businesses, from small enterprises looking to enhance their marketing strategies to larger corporations aiming to improve customer retention rates. The growing demand for customer intelligence analytics, as evidenced by global leaders like Verint generating significant revenue, highlights the potential for successful ventures in this field. This side business could not only supplement your income but also offer you a dynamic and engaging way to utilize your financial acumen in new, impactful ways.

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163 Million Dollar Solopreneur Business Ideas

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

Get The Report

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

Get The Report

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

Get The Report

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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163 Million Dollar Solopreneur Business Ideas

Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.

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