Passive Income Ideas For Financial Advisors [2024]
Interested in earning passive income as a Financial advisor in 2024?
We put together a few of the best passive income ideas you can start as a Financial advisor today. These will help you increase your quality of life by bringing in more income for yourself or your business.
For each income idea, we’ll show you real-world examples, revenue expectations for each idea, plus some things you might need to know before you start your passive income journey as a Financial advisor.
Here's the full list:
1. Make passive income with a niche investment platform ($167K/month)
As a financial advisor, you could start a niche investment platform to supplement your income by leveraging your deep understanding of financial markets and client needs. Such a platform deals with alternative asset classes like collectibles, cryptocurrencies, real estate, or athletic prospects, making it a unique exchange that could attract specialized investors. By using modern technology, you could create a transparent trading ecosystem that is appealing and trustworthy.
This platform could provide flexibility around portfolio combinations, allowing you to build an exclusive user base interested in diversifying their assets. In return, you could earn recurring revenue through transaction fees and premium subscriptions, giving you a steady stream of passive income. For clients looking to move away from the volatility of stock markets, your niche platform could offer them new and exciting investment opportunities, bolstering both your income and your reputation as a forward-thinking advisor.
How much you can make: $2,000 — $600,000/month
How long does it take to build: 180 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
2. Make passive income with an online course sales business ($85K/month)
As a financial advisor, starting an online course sales business could be a great way to supplement your income. You could share your expertise on topics like personal finance, investment strategies, retirement planning, or budgeting. By breaking down complex financial concepts into easy-to-understand lessons, you have the potential to reach a wide audience who are eager to learn from a seasoned professional.
The process is straightforward: choose a target audience, create engaging course content, and then sell the course on platforms designed for online learning. Given the e-learning market's projected growth, this could be a lucrative opportunity to make money while helping others become financially literate. Plus, once your course is launched, it could generate passive income with minimal ongoing effort.
How much you can make: $100 — $300,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 180 days (?)
A multipreneur shares how she built a successful print on demand side hustle, generating $120,000 per year through multiple brands spread over various platforms.
3. Make passive income with a stock investing business ($30.3K/month)
Starting a stock investing business could be a natural fit if you're a financial advisor with a keen interest in the markets. Leveraging your existing knowledge about financial trends, you could build a business around buying and selling stocks for profit. This venture allows you to transform your passion for finance into a supplemental income stream.
Utilizing educational resources and trading platforms, you could continuously hone your skills and stay updated on market developments. While the potential for high returns exists, it's important to approach this with a strategy and focus on long-term growth. This could be a rewarding path if you're dedicated to learning and managing risk.
How much you can make: $4,000 — $160,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 90 days (?)
Ticker Nerd is a monthly subscription service for investors that surfaces and analyzes trending stocks before the hype train arrives, and now has $4.5k in monthly recurring revenue from its newsletter without spending a single dollar on advertising, having validated the business via subreddits and organic Product Hunt launch strategy.
4. Make passive income with a podcast ($97.9K/month)
Starting a podcast could be a solid way for a financial advisor to supplement their income and start earning passive income. By creating episodes focused on financial advice, market trends, and investment strategies, you could attract an audience interested in money management. This could lead to opportunities for sponsorships and advertising deals, as businesses in the financial sector often look for relevant platforms to reach potential clients.
You could start with a microphone and headphones, and choose a free or affordable hosting platform to publish your episodes. Promoting your podcast through social media and online communities would help you grow your audience. Over time, this side project could not only boost your reputation as an expert but also generate additional income through various monetization avenues.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
5. Make passive income with a YouTube channel ($72.1K/month)
As a financial advisor, you could start a YouTube channel to share your financial expertise and insights. This could include creating video content about budgeting, investment strategies, or retirement planning. By providing valuable information, you could build a following and eventually monetize your channel through ads, sponsorships, and even merchandise.
Consistently producing high-quality videos could help you establish yourself as an authority in your field, reaching a broader audience than ever before. Over time, this not only supplements your income but also enhances your professional reputation. If you are willing to put in the time and effort to plan, shoot, and engage with your viewers regularly, your YouTube channel could become a significant and rewarding venture.
How much you can make: $2,000 — $333,333/month
How much does it cost to start: $5,250 (?)
How long does it take to build: 30 days (?)
This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.
6. Make passive income with a niche blog ($31.5K/month)
As a financial advisor, starting a niche blog could help you share your financial expertise online and connect with a broader audience interested in financial advice and planning. By focusing on an underserved topic within finance, such as retirement planning, tax-saving strategies, or investment tips for specific demographics, you could establish yourself as a go-to expert in that area.
Creating content like how-to guides, insightful articles, and video interviews could not only help others but also attract a loyal readership. Over time, you could monetize your blog by incorporating affiliate links to financial products, collaborating with relevant brands, and expanding your reach through a YouTube channel or speaking engagements.
With passion and consistency, your niche blog could become a significant source of passive income, all while enhancing your professional reputation and offering valuable guidance to those seeking financial wisdom.
How much you can make: $100 — $650,000/month
How much does it cost to start: $650 (?)
How long does it take to build: 60 days (?)
Starter Story grew to 1.4 million monthly visitors and millions in annual revenue by sharing the stories of entrepreneurs. Pat breaks down the early days and how he grew the business into something that changed his life.
7. Make passive income with a real estate investment firm ($398K/month)
Starting a real estate investment firm offers a compelling way to supplement your income as a financial advisor. This venture involves buying, managing, and selling real estate assets to generate profit. The core activities include scouting lucrative properties, negotiating deals, handling renovations, and managing rentals or sales.
With your financial acumen, you could leverage your skills in market research, strategic planning, and cash flow management to identify and invest in valuable properties. The real estate market’s potential for significant appreciation and steady rental income makes it a promising avenue for building wealth.
If you're passionate about real estate and possess a keen eye for identifying good investments, this could be an ideal opportunity for you. While success requires diligent market analysis and effective management, your efforts could result in impressive financial returns, making real estate a lucrative and rewarding business venture.
How much you can make: $10,000 — $1,500,000/month
How long does it take to build: 210 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
8. Make passive income with a niche website ($107K/month)
As a financial advisor, starting a niche website could be a strategic way to supplement your income and share your expertise. You could create a website focused on personal finance tips, investment strategies, or retirement planning advice. By producing valuable and engaging content, you can attract a dedicated audience interested in your insights.
Once you have a steady stream of visitors, there are several ways to monetize your site. You could choose to place ads, promote financial products through affiliate marketing, or even sell your own digital products like eBooks or courses. Over time, with sufficient effort and commitment, your niche website could turn into a reliable source of passive income.
How much you can make: $400 — $250,000/month
How long does it take to build: 60 days (?)
DPW (Digital Procurement World) is a fast-growing conference and community in procurement that has more than tripled in revenue since launching in 2019, capping out the year at €1.8 million, with 95% of their growth coming from inbound traffic leveraging LinkedIn and applying social selling techniques.
9. Make passive income with an ai based business solution ($55.8K/month)
As a financial advisor, starting an AI-based business solution could open new streams of passive income by leveraging artificial intelligence to improve business processes. Imagine using AI tools to automate repetitive tasks like data entry, provide personalized investment advice, or predict market trends with impressive accuracy. This would not only enhance your efficiency but also allow you to offer unique, tech-savvy services to your clients.
You could also partner with companies that develop user-friendly AI platforms, making it accessible even if you don’t have a tech background. The demand for AI solutions is rapidly growing as businesses seek to gain a competitive edge. By integrating AI into your financial advising firm, you could tap into this expanding market, potentially boosting both your income and business performance.
How much you can make: $4,000 — $120,000/month
How long does it take to build: 125 days (?)
Mikkelsen Twins grew an online education company from scratch with over 800 students, making over 6-figures in profit every month thanks to their successful program, Audiobook Income Academy 2.0.
10. Make passive income with an AI writing tool ($255K/month)
As a financial advisor, you could leverage your analytical skills to start an AI writing tool that automates content creation, saving time and reducing errors. This could revolutionize the way educational content, financial reports, and market analyses are produced, making you a key player in simplifying these processes. By offering a tool that generates accurate, engaging content with a click, you could cater to businesses, bloggers, and students looking for efficient writing solutions.
This venture could ease the workload for many, allowing them to focus on more strategic aspects of their work. Plus, with the ever-growing demand for quality content, your AI writing tool could become an indispensable resource. It's an innovative way to expand your expertise and make a significant mark in the digital world.
How much you can make: $4,000 — $1,000,000/month
How long does it take to build: 52 days (?)
Rytr, a new AI writing assistant developed by a startup platform and business incubator, has become a market leader, serving over 300,000 customers across the world and doing seven figures in ARR.
11. Make passive income with a lead generation tool ($108K/month)
As a financial advisor, you could supplement your income by developing a lead generation tool to attract potential clients for your advisory services. This tool would identify and capture customer leads by integrating with websites, social media, and other digital channels, simplifying the often time-consuming process of finding new clients.
Automating lead generation lets businesses focus more on converting potential leads into actual clients, a service in high demand. If you have some tech skills and a knack for marketing, creating a lead generation platform could not only streamline your own marketing efforts but also provide a valuable service that many small to medium-sized businesses would be eager to use. This could turn into a profitable side venture, bringing in passive income while enhancing your advisory practice.
How much you can make: $1,000 — $400,000/month
How much does it cost to start: $600 (?)
How long does it take to build: 90 days (?)
Dux-Soup is a LinkedIn automation tool that helps business owners and sales & marketing professionals generate more leads, increase efficiency, and save time; with over 70,000 users and revenue of nearly $5 million, it offers automated top-of-the-funnel LinkedIn outreach activities, targeted LinkedIn campaigns and multi-touch & personalized LinkedIn drip campaigns for lead generation.
12. Make passive income with an affiliate marketing business ($77.5K/month)
As a financial advisor, you could explore affiliate marketing to generate passive income by leveraging your expertise and existing client base. By partnering with reputable financial products and services, such as investment platforms, financial planning tools, or educational courses, you could earn commissions for every sale made through your referral links.
To get started, identify products and services that align with your professional values and would genuinely benefit your clients. Sharing these recommendations through your website, social media channels, or client communications could become a natural extension of your advisory services. This way, you not only provide additional value to your clients but also create a new revenue stream that grows over time.
How much you can make: $500 — $773,000/month
How much does it cost to start: $700 (?)
How long does it take to build: 60 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
13. Make passive income with a social media automation business ($139K/month)
As a financial advisor, you could supplement your income by starting a social media automation business. Imagine offering tools and services that help small businesses and influencers schedule posts, automate interactions, and track data, all while saving them time and boosting their social media presence. The demand for consistent and strategic social media engagement is growing, meaning there’s a significant market for these services.
By integrating or developing the right software solutions, keeping up with social media trends, and customizing your offerings to meet client needs, you could create a steady stream of passive income. This venture could be particularly rewarding if you have an interest in technology or marketing. With some initial effort, you might find this not only a supplemental income source but also a satisfying entrepreneurial endeavor.
How much you can make: $4,000 — $400,000/month
How long does it take to build: 50 days (?)
MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search.
14. Make passive income with a SEO & lead generation service ($60K/month)
Starting an SEO and lead generation service could be a great supplement to your income as a financial advisor. With your expertise in understanding client needs and building relationships, you could help other businesses attract and convert potential customers. By learning the basics of lead generation and digital marketing, you could build a service that helps businesses collect information about potential clients and turn them into actual customers.
This approach not only leverages your existing skills but could also provide a steady stream of passive income. By setting up a system that attracts and nurtures leads, you could create recurring revenue while still focusing on your primary career. It's a practical and potentially lucrative way to expand your professional footprint into the digital marketing space.
How much you can make: $8,000 — $200,000/month
How much does it cost to start: $3,750 (?)
How long does it take to build: 90 days (?)
A link building company co-founded by Justas Markus has grown to make an average of $35k per month in recurring revenue with a focus on delivering high-quality services through manual processes and focusing on fewer markets.
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.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
