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gmbproject
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Khalid Adam, post: 102358 wrote:
After my real estate career in 2003, i moved into finance specifically mortgage reduction on the gold coast. the one that charge like crazy to help people reduce their loans within 3-7 years with a tracking software and ongoing coaching.

3 months later i started my own finance broking business. people would ask me to help them with the exact same stuff you asked below and were willing to pay me.

could not give “advice” at that time. did not have accreditation, etc and wasn’t interested because my area of interest was creative financing in real estate.

so yes, people will pay you as long as you make it clear that it’s not advice. focus more on saving money, budgeting but not on investing, wealth creation, etc. for that you need your rg 146 and what not.

what you can do is send a letter to your existing and past clients as well as anyone you have contact details and offer the “budgeting” service.

let me tell you, budgeting is a major problem. people need someone to watch their expense, credit card statement. i once had a client who confessed to having a secret credit card because he was obsessed with toys. the guy is a tradie. go figure.

help people control their budgets. show them a bigger future. people start saving when they have a major plan (world trip, car, first home, marriage, etc) then get in touch with genuine wealth creation experts and do a deal and ofcourse disclose the compensation.

i know of an insurance broker who teaches her clients how to leverage premium payments to fund the purchase of their car using spreads and arbitrage. maybe this is a different topic.

ultimately, you are a broker and smart brokers make the most money because they leverage other people’s time, expertise, money, products, staff, systems, operations, resources and pool them together.

Thanks Khalid, I think it is a very interesting conversation. It would appear that there is a gap where people actually don’t get to here about general strategies to improve their financial situation on a day to day basis, which is often what affects everyone’s bottom line to make bigger investment and financial decisions (through a financial planner).

Thank you for your thoughts, its definitely given me more food for thought.

Bernadette