Financial Consulting Business

Business Idea: Start A Financial Consulting Business in 2024

Updated: October 2nd, 2024

Avg Monthly Revenue
$453K
Avg Startup Costs
$11.7K
Score
75
Market Size
Avg Revenue
Min Revenue
$12K/month
Max Revenue
$2M/month
Avg Days To Build
150 days

Financial consulting is a business that helps individuals and businesses manage their financial affairs. Managing financial affairs include creating financial plans, analyzing financial data, and advising investment and financial decision-making.

To start a financial consulting business, you will need a strong understanding of financial principles and practices and excellent communication and problem-solving skills. You may also need to obtain necessary licenses or certifications, such as a Certified Financial Planner (CFP) designation.

To start the business, you must create a business plan, establish a business structure (such as a sole proprietorship or LLC), and identify your target market. You may also need to secure financing and create a marketing plan to attract clients. It is also important to network with other professionals in the financial industry and stay up-to-date on the latest trends and developments in the field.

Revenue & Profitability

How much do financial consulting businesses make?

Startup Costs

How much does it cost to start a financial consulting business?

  • It can cost as low as $1,000 to start a financial consulting business.
  • It can cost as high as $600,000 to start a financial consulting business.

Learn more about the costs of a financial consulting business.

Examples Of Successful Financial Consulting Businesses

Successful financial consulting business businesses and case studies

How one financial services company, Good Life Companies, went from a multi-faceted service organization to a nationally recognized brand with $25 million in revenue, averaging 50-75% growth per year, by providing independent financial advisors with the support, infrastructure, and real estate necessary to operate their practices and meet all needs, along with investing in marketing strategies and expanding their offering to multiple broker-dealer channels.

$2M Monthly Revenue
$500K Startup Costs
Read by 6,396 founders

ConnectionPoint's founder and CEO, Daryl Hatton, shares his experience of launching an enterprise-class crowdfunding-as-a-service platform that has helped almost 200,000 projects in 40+ countries raise over $200 million, and offers valuable insights on taking a focused approach to growth and pivoting the business to solve customer problems.

$150K Monthly Revenue
$600K Startup Costs
Read by 6,430 founders

See full list of successful financial consulting businesses.