Gap in the market for a kind of 'Financial Therapist, K.I.S.S.' "advisor"?

[WillSnow]

Hey Folks

Just thinking out loud about ... stuff.

Let's remember that we here are probably the minority, so not the target audience for what I'm thinking of.

Do we think there's enough of a market to support someone who kind of ... helps people to get on the road to simple investing?

I'm thinking about just the basic nuts and bolts of:

• grow your income
• live well within your means
• simple budgeting
• invest in low cost ETF

Of-course there's no 'active management' to make a business from, so it would have to be a business based around one-off charges.

I think there's lots of people (that I speak with, anyway) who aren't investing, even though they know they should be.

I think it needs more than 'read the books! here's the links!' ... it's a little bit of psychology and ... life stuff.

I have no idea of the legally obligated requirements though - would this need a full accounting, financial advisory schooling etc.?

Perhaps it would have to be tied in to helping out with tax returns etc.

Just wondering - what do we all think?

 

[Baptiste Wicht]

Hi @WillSnow

Seeing how many people ask me about personal consulting for this and all the general questions I receive, I would say there is a definite gap.

I think many people are looking for truly independent financial advisors. The problem is that there are very few (if any) of them.

It's also entirely true that many people need more than blogs to reach their goals. And many people are more comfortable when validated through a 1:1 discussion.

I have no idea of the legal requirements. I would say that if you do not manage any money, you are likely to be fine. However, you would be telling people how to invest directly, which may be close to true financial advice. And in this case, you should be reading about financial advisor requirements in Switzerland.

 

[WillSnow]

Thanks for the speedy reply @Baptiste Wicht !

Would you have any pointers for 'extra curricular' courses that may offer a sort of 'introduction to finance / tax ... STUFF'?

I have a very generous education reimbursement policy at my work and am thinking perhaps learning a bit more about this could be a good way to spend it.

 

[Baptiste Wicht]

Would you have any pointers for 'extra curricular' courses that may offer a sort of 'introduction to finance / tax ... STUFF'?

I am afraid I don't.

Hopefully, some people in the forum know more about courses. This was discussed a little in this forum post:

Education

I'm looking for a "foundational" course to learn about investing, managing calculators, selecting the right platform for my portfolio and expanding my financial knowledge. Does anyone have recommendations for a practical, step-by-step modularized program with audio-lectured visual curriculum...

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