How Much Does It Cost To Start An Investment Advisory Business? (In 2024)
Looking to start an investment advisory business?
But curious about:
- how much it costs to start an investment advisory business?
- what are the typical investment advisory business startup costs?
- or the actual cost of starting investment advisory businesses?
Well, we have the data to prove it, supported by real investment advisory businesses and how much they actually cost to start.
Let's go over it.
Learn more about starting an investment advisory business:
Where to start?
-> Pros and cons of an investment advisory business
Need inspiration?
-> Other investment advisory business success stories
-> Marketing ideas for an investment advisory business
-> Investment advisory business Instagram captions
Other resources
-> Profitability of an investment advisory business
-> Investment advisory business tips
Business Formation Fees
There are a few key costs associated with forming your business entity, such as setting up an LLC and getting trademarks, copyrights, and patents sorted.
Cost | Required? | Min Cost | Max Cost |
---|---|---|---|
Set up business: LLC & Corporations |
Required |
$50 |
$500 |
Small Business Insurance |
Recommended |
$500 |
$2,000 |
Permit and License Fees |
Optional |
$50 |
$700 |
Lawyer Fees |
Optional |
$0 |
$1,500 |
Software Expenses
Your investment advisory business needs software to run efficiently!
Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.
Cost | Required? | Min Cost | Max Cost |
---|---|---|---|
File Hosting Service |
Recommended |
$0 |
$299 |
Email marketing tool |
Recommended |
$0 |
$100 |
Accounting & Invoicing Software |
Recommended |
$0 |
$50 |
CRM Software ➜ |
Recommended |
$12 |
$300 |
Internal Communication Tool |
Recommended |
$0 |
$20 |
Design Programs & Software |
Optional |
$0 |
$50 |
IT Support ➜ |
Optional |
$150 |
$2,000 |
Social Media Management Tools |
Optional |
$0 |
$50 |
Payroll Software |
Optional |
$0 |
$200 |
Office Space Expenses
It will be your call to determine if you need office space. It is not a requirement but may be necessary as your investment advisory business grows.
Cost | Required? | Min Cost | Max Cost |
---|---|---|---|
Rent ➜ |
Optional |
$0 |
$5,750 |
Utility Costs For Office Space ➜ |
Optional |
$0 |
$1,150 |
WiFi & Internet ➜ |
Optional |
$0 |
$100 |
Employee & Freelancer Expenses
Cost | Required? | Min Cost | Max Cost |
---|---|---|---|
Payroll Costs & Fees ➜ |
Optional |
$150 |
$250 |
Employee Hiring Expenses |
Optional |
$1 |
$2 |
Employee Rewards ➜ |
Optional |
$0 |
$100 |
Website Costs
Every business should have a website, and it's worth spending a bit of money to set it up right.
Cost | Required? | Min Cost | Max Cost |
---|---|---|---|
Domain Name ➜ |
Required |
$12 |
$200 |
Website Hosting Costs ➜ |
Required |
$0 |
$300 |
Website Builder ➜ |
Recommended |
$10 |
$500 |
Business Email Hosting Service ➜ |
Recommended |
$1 |
$15 |
Website & Live Chat Tool |
Recommended |
$0 |
$200 |
Web Designer ➜ |
Optional |
$200 |
$6,000 |
Advertising & Marketing Costs
Cost | Required? | Min Cost | Max Cost |
---|---|---|---|
Business Cards ➜ |
Optional |
$0 |
$50 |
Customer Research & Surveys |
Optional |
$0 |
$300 |
Networking Membership Fees |
Optional |
$0 |
$250 |
Direct Campaigns, Printing and Mailing |
Optional |
$0 |
$300 |
Affiliate Marketing Commission & Fees |
Optional |
$0 |
$250 |
Influencer Marketing |
Optional |
$0 |
$750 |
Google Ads |
Optional |
$0 |
$300 |
Facebook & Instagram Ads |
Optional |
$0 |
$350 |
Training & Education Expenses
Cost | Required? | Min Cost | Max Cost |
---|---|---|---|
Consulting fees |
Optional |
$0 |
$1,000 |
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.