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How Much MONEY I Make in 2020 as a Financial Advisor

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  • Апублікавана 9 Ліс 2020
  • Today we go over the amount of revenue that I generate running my own financial advisory company and how much I pay myself each month from my various revenue streams.
    Instagram: josh_olfert
    Twitter: josholfert
    Haven Wealth Management: www.havenwealthmgmt.com/
    Josh Olfert is a professional CFP financial advisor and the Founder of Haven Wealth Management investment fund based out of Winnipeg Canada. Through this channel Josh shares his knowledge of wealth accumulation and personal investing to the world, in an effort to improve financial literacy and help everyone achieve their financial goals.
    All numbers and figures discussed in this video are purely for illustrative purposes and are not to be taken as financial advice.

Каментарыі • 219

  • Josh Lucarelli
    Josh Lucarelli Год таму +19

    Great video Josh! I’ve been a financial advisor for alittle under a year now and it’s definitely a tough career to start in but I’m starting to generate some reoccurring revenue through portfolio management and I’m loving it. What was the most effective way to generate new clientele for your practice?

    • Nick San Souci
      Nick San Souci 9 месяцаў таму

      @Josh Olfert you can’t make online content if you work for a brokerage.

    • Josh Olfert
      Josh Olfert  Год таму +8

      That’s awesome Josh!! If you’re almost one year in and you’re still genuinely loving it the right answer on how to get more prospects is to just keep doing what you’re doing but for three more years. Patience plays a massive role. Other than that - online content. If you want to expedite the process create or curate two pieces of content per week for two years. Then engage with the community of people that appear interested. Best of luck 👊🏽

  • Camilo Rodriguez
    Camilo Rodriguez Год таму +19

    Thanks for sharing this brother. I just got my bachelors in business management and I’m trying to figure out which path to take, being in a pandemic isn’t helpful but I know sooner than later doors will start to open up. Keep it up!

    • Firas A
      Firas A 11 месяцаў таму +1

      Is a bachelors in business management needed for becoming a financial advisor? I’m just starting my research about this field

    • Josh Olfert
      Josh Olfert  Год таму +2

      Hey Camilo! Thanks for the comment! Yeah. Things are certainly tough right now. I wouldn’t want to be a brand new financial advisor in late 2020. It’s hard enough to get started in the good years! Keep working towards what you want day by day and progress is guaranteed in the long run. Even if that means reaching outside the norm (blogging, putting yourself out there, developing your skills and ideas) Stay safe!

  • Tobi Aminu
    Tobi Aminu Год таму +6

    Great Content Josh! I am a recent college finance grad and honestly I've been interested in becoming an advisor, but the idea of commission and building my own net worth is sort of discouraging because I hear of many people who gets burnt out within the industry. This video definitely helped me in gaining an understanding of how an advisor gets paid, however how was the career during your beginning years, were you able to maintain a lifestyle apart from just advising and searching for clientele. Or did advising become your "life", I def understand that hard work is an essential no matter what career I am in. But was advising overly demanding during your rook years?

    • Josh Olfert
      Josh Olfert  Год таму +7

      Hey Tobi! Great questions. I totally understand this. It’s certainly a career where you’re voluntarily agreeing to front load your suffering. The first 2-4 years are an absolute grind. You’re overworked and underpaid to a massive extent. Typically, after year 4 you should have some semblance of stability and even work life balance. It’s very okay to be uncomfortable with this. I’ve never personally met an advisor who was comfortable in the job in their first few years. I would say the job HAS to become your life for 18 months minimum or you’re just dragging your feet. I went from being a very social person to not seeing my closest group of friends more than once in a 12 month stretch. It was hard. But I look back and it was EASILY worth it. I’m here to help when you need me.

  • SeanClips
    SeanClips 6 месяцаў таму +5

    Hi, I’m in school for financial advisory, my first year I am 20 years old I am really glad that I have your videos to look up to! I’m praying that it all works out. I also am a self taught barber and have started getting my own clients to come to my house to cut their hair like building a business. So I think that helps me understand a little but more. Thank you for this video❤️

    • Josh Olfert
      Josh Olfert  6 месяцаў таму +2

      Hey Sean!! So glad you're finding these helpful. Let me know what kind of video you'd like to see. Best of luck with everything.

  • Liridon Fetahu
    Liridon Fetahu Год таму +3

    Hi Josh, I appreciate you sharing your income. I am considering becoming a financial/investment adviser and currently just doing research on different aspects of the business. Can you share how much AUM you need to get to the level of income just from your investment advisory services (excluding mortgages, rental income). Thank you.

    • Josh Olfert
      Josh Olfert  Год таму

      Thanks for taking the time to watch Liridon! I appreciate it!
      I wished other advisors had shared their figures with me when I was getting started. There’s so much uncertainty at the start.
      It all depends on the model you’re operating under. If you’re an independent, you’re probably earning 0.75-1.00% of assets.
      If you’re at a big bank or brokerage, you’re likely working underneath a senior advisor and getting referred business from them or the branch level. In this case you’re probably getting 0.50-0.60%
      So in that case, $5,000,000 AUM = $25,000-$50,000/Year in revenue.
      Hope this helps!

  • Carlos Mejia
    Carlos Mejia Год таму +4

    Great video, Josh! As someone who is sitting for his CFP in July, I can attest to the amount of years put into studying to earn the various licenses!

    • Josh Olfert
      Josh Olfert  Год таму

      @Carlos Mejia Thanks again!

    • Josh Olfert
      Josh Olfert  Год таму

      Best of luck Carlos! You'll kill it.

    • Thomas Knight
      Thomas Knight Год таму

      @Carlos Mejia ah thx

    • Carlos Mejia
      Carlos Mejia Год таму +1

      @Thomas Knight He shows up in the FP Canada registry

    • Thomas Knight
      Thomas Knight Год таму +1

      Carlos, look up Josh Olfert on the CFP registry. He doesn't show up

  • Inesan Pillay
    Inesan Pillay 10 месяцаў таму +2

    Great video Josh, I was contemplating relocating to Canada in 2 years, I've already got my CFP and I'm in the process of doing my MBA, are there any specific area's/territories in Canada i should be looking at in terms of career potential?

    • Josh Olfert
      Josh Olfert  10 месяцаў таму

      From West to East:
      BC: One of the best places in the world. Extremely expensive.
      AB: Bustling Cities with Big Oil Money.
      SK: Flat. Nothing going on.
      MB: Dirt Cheap to Live. Kinda weird.
      ON: The New York of Canada
      QC: French Province with a completely different legal system

  • Hammy G
    Hammy G Год таму +1

    Good video. You have the model right and assuming you never get better at your work in terms of new client acquisition, your income will grow each year. Personally, I don't take any calls when I am off ( which is most of the time at this point) , however I do have other people that can field those calls. Once you get to the point that you can hire an assistant ( even if part time) I would- since as your business grows, the amount of service required grows. When I was in my 30's my business was doing very well, however I found I was spending most of my time servicing the business which in turn took away from doing any new business which you need to grow at a faster pace. You have a good outlook and I have no doubt of your continued success.

    • Josh Olfert
      Josh Olfert  Год таму

      Thank you! I appreciate the kind words.
      The advice is sincerely helpful. Trying to work towards working ON the business rather than IN the business 👊🏽

  • Patrick Montgomery
    Patrick Montgomery 10 месяцаў таму +1

    Very constructive video - thank you. So you have a few "partners" who pay you "commission", for want of a better word.
    How do you feel about "encouraging" a prospective client to change their current investment-platform/pension-provider just to ensure you get the commission from one of your "partners"?
    How do you cope mentally when you walk away from a prospective client without getting a commission?

    • Daniel
      Daniel 8 месяцаў таму

      It’s so funny how people think all financial advisors are Bernie Madoff or The Wolf of Wall Street.
      Patty stop watching movies and American Greed and realize advisors help people EVERY SINGLE DAY, not only making them money but protecting their families financial future.
      ….but you keeping snapping those photos and charging people for your “artistic” skills, at the end of the day we both don’t work for free….buddy

    • Josh Olfert
      Josh Olfert  10 месяцаў таму

      Thanks Patrick! In my mind “commission” typically means a transaction was made and a slice of the profit was taken by the facilitator. In the case of us selling insurance, this is definitely the case. But when it comes to investment management we charge a “fee for service” as we’re not paid anything upfront. We’re only paid to service that client in the future and if the client isn’t being serviced they’ll leave. Commission feels like “one-and-done”, fee for service feels like there’s an expectation that continuous value will be provided.
      If we can create a win-win and the client is excited to work with us enough to transfer from an existing relationship I feel we deserve to earn that fee in the future. Coping with losing out on compensation is definitely difficult in the early years but as the business grows it becomes easier and easier to just “move onto the next one”.
      Hope this clarifies my perspective!

  • The Adzad
    The Adzad 11 месяцаў таму +1

    Great Vid - however I think it’s also very important that you inform the viewers that the monthly income figures you’ve provided are PRE TAX and expense dollars. FA’s are responsible for garnishing their own wages for 1) Fed taxes 2) Provincial taxes 3) CPP (both employee & employer portions) 4) EI deductions and 5) benefits are usually out of pocket expenses as well - please correct me if I’m wrong

    • Josh Olfert
      Josh Olfert  11 месяцаў таму +1

      Oh totally! These are pre-tax, pre-expense figures. I’m fully responsible for paying ALL of those things. And its a total hassle lol!

  • priccostein
    priccostein Год таму +3

    I’m currently an undergrad in Broadcasting and Media with a minor in Business, but I know that I want to go to grad school and get an MBA in finance. Being a financial advisor (whether being a private advisor or working for a firm) is what I’m aiming for career-wise. Will the unrelated bachelor’s degree hurt me in any way?

    • Josh Olfert
      Josh Olfert  Год таму +8

      Absolutely not! For instance, I didn’t even get a degree at all. I think the *best* thing you can do it just get into the workforce. Get experience in or near the industry you want to be in. You won’t really realize what options are out there or what you might like/dislike without actually being around it. Who knows what door open up when you start knocking as opposed to spending years planning on which one to knock, and whether or not something will open. Wishing you all the success! Hope this helps

  • Diego Baca
    Diego Baca 10 месяцаў таму +3

    Hey Josh, thanks for all the amazing content. Would love a "Day in the life of a Financial Advisor" video. Cheers!

    • Josh Olfert
      Josh Olfert  10 месяцаў таму +1

      Thanks Diego! Its in the works! Not overly exciting because I can't film actual client conversations for privacy reasons and there's still a ton of pandemic restrictions in my city. We'll do our best though!

  • N Ino
    N Ino 10 месяцаў таму +1

    Hey josh awesome video. I just wanted to get your thoughts as a personal banking associate for a bank as a stepping stone into a financial advisor? I currently have a background in sales and only finished highschool. Would this be a good route? Thanks

    • Josh Olfert
      Josh Olfert  10 месяцаў таму +1

      That’s a great stepping stone in my view! If you’d like to get experience before going out on your own that’s a great role because you’ll learn a lot about the financial decision and where people’s struggles are. You can learn to provide value from there!

  • Richard Jones
    Richard Jones 8 месяцаў таму +12

    Keep it up my friend. When you said “I wish I were farther along by now” I get that. About 5 years ago I was about where you are now. I ended up hiring an Operations Manager, then I out grew 1 full time assistant, and hired a second, and then a 3rd. I now have offices across a couple states and my income this year should be around $1.2M (It’s Sept and I’m over $800k so far). Literally 5 years ago I sat where you are at $120k per year, over worked and feeling a lot of stress. My phone, like yours, never stopped. Hiring an assistant was the best decision I ever made. Today I bring in about $2M/month in new dollars, plus reoccurring contributions from existing accounts. If you ever want to chat about the industry or share any tips, drop me a line some time. Otherwise- keep up the great work!!

    • Josh Olfert
      Josh Olfert  8 месяцаў таму +4

      That's amazing. Thanks for the encouragement Richard! I'm coming up on this transition from working "in the business" versus "on the business". I appreciate you sharing your story!

  • Jayce Schomaker
    Jayce Schomaker Год таму +16

    I’d love more videos about the steps you took to get where you are. (Series 7 prep, courses you used etc)

    • Niyosha Ataollahzadeh
      Niyosha Ataollahzadeh Год таму

      I am just about to start with this career please share the job description thanks

    • Josh Olfert
      Josh Olfert  Год таму +6

      Thanks for the feedback Jayce! I’m in Canada so the courses might be different (other than the international ones like CFP, CFA, etc) but I can talk all about the principles and experience of getting them. Thanks!

  • 69FOV
    69FOV 10 месяцаў таму +3

    Thank you for this super in depth video! can you tell me the real differences between financial manager and financial advisor? thanks!

    • Josh Olfert
      Josh Olfert  10 месяцаў таму +2

      No, thank you for watching! The difference really depends on the context. The title "financial manager" is a little vague. That could mean a lot of things. I imagine its typically a corporate/managerial role that exists in a wide variety of institutions. A financial advisor on the other hand works personally with individuals and families to sort out their household wealth.

  • Harpreet Singh
    Harpreet Singh Год таму +1

    Was wondering for a college student who is majoring finance what is best thing for me to do rn like looking for a job that will look good on my resume.
    what skills should I know and finally what job do you think I would probably get after I graduate?
    P:S I'm doing my bachelors and I'm in my second year.

  • Terri Elle
    Terri Elle Год таму +9

    I love your energy and movement with your hands as you talk, I do the same 😁 great, informational video! I want to study finance for my Master's.

    • Josh Olfert
      Josh Olfert  Год таму +3

      Hahah! Thank you! I appreciate your support and feedback on the video. Best of luck!!

  • Kadrea Dawkins
    Kadrea Dawkins Год таму +2

    Love your videos! I trade and invest in stocks for myself and I want to start trading for others, while charging them a fee. Do I need to become a financial advisor?

    • Josh Olfert
      Josh Olfert  8 месяцаў таму

      @andrew john Sure thing Andrew. This is actually how Warren Buffett started his career managing money.
      Most business structures (corporation, partnership, etc) are really just fancy ways of defining who has the liability if the business collapses or if people get sued. A limited partnership is one of these structures where the business has many different partners (limited partners, or in this case your investors) but with one primary leader (general partner, you/the investment manager). In this structure the limited partners are only liable for losses of their initial investment. If the company fails they can't lose more than that, or go into debt, get sued or be forced into bankruptcy. HOWEVER, the general partner can.
      The general partner would go out and prospect investors and convince them to sign on as limited partners. When they do this, they would effectively be agreeing to risk their money with your investment strategy. If you do well, your earn fees and profits. If you do poorly, your investors will leave. If you go bankrupt, the companies creditors and enemies can come after you personally (lawsuits).
      If you're a talented investor, this would be an effective way to run your own boutique investment company without being regulated by securities commissions. But you bear substantially more risk personally.
      Hope this helps!

    • andrew john
      andrew john 8 месяцаў таму

      @Josh Olfert could you explain how a limited partnership works?

    • Kadrea Dawkins
      Kadrea Dawkins Год таму +1

      @Josh Olfert This helps a lot thank you! I appreciate it!

    • Josh Olfert
      Josh Olfert  Год таму +2

      Hey Kadrea! There’s a few ways you could do this but it’s certainly a touchy area. The industry is riddled with complex regulations. You could become a registered securities advisor which would take you a couple years of study and designations. Or if you have a big circle of people who trust you with their money you could explore a limited partnership with you as the general partner and your other investors as limited partners. There is a ton of risk here, so be careful! You’ll certainly want legal counsel. Hope this helps!

  • Chris Dick
    Chris Dick Год таму +1

    Awesome content! Late rent is a no-go, need to ask for post-dated cheques at the beginning of the lease!

    • Chris Dick
      Chris Dick Год таму

      @Josh Olfert not to date, although I’ve only had one set of tenants to try it with. I think it’ll be one of my requirements going forward with future tenants!

    • Josh Olfert
      Josh Olfert  Год таму

      That’s a great idea! Ever get pushback?

  • Roland Cheng
    Roland Cheng 7 месяцаў таму +1

    Thanks for the financial advisory guidance. I was planning to go that route but I ended up something else.

    • Josh Olfert
      Josh Olfert  7 месяцаў таму

      A big part of life is figuring out what NOT to do. Kudos!

  • ItsJimmyTimeee
    ItsJimmyTimeee Год таму +2

    So glad to stumble across this channel! I have one more year till I get my degree in Finance and then looking to get those CFP letters!!!

    • Josh Olfert
      Josh Olfert  Год таму

      Love that! Congrats James. Thanks for supporting the channel. 👊🏽

  • Monica Hodgson
    Monica Hodgson 4 месяцы таму +1

    Hello Your videos are really helping me. I only have my series 6 and 63 since 2008, )I never had clear direction but now I am with a company that has a great platform as my broker dealer. My goal this year is to learn grow and obtain my series 65 I own a tax and accounting office I want to hire another Enrolled Agent so I can focus on Financial Services business. Also how do you help clients in regards to their mortgages. Hope this comment finds you well. Jan 1st 2022!!!

    • Josh Olfert
      Josh Olfert  4 месяцы таму

      No, thank YOU for watching.

    • Monica Hodgson
      Monica Hodgson 4 месяцы таму +1

      @Josh Olfert AWESOME Thank you for your response!!

    • Josh Olfert
      Josh Olfert  4 месяцы таму

      Thanks for the comment Monica! That's fantastic. I wish you all the success.
      As for mortgages, we have a different regulatory system up here in Canada. For us it came down to getting partnered with a mortgage company that would allow us to run deals through them or refer. It might be very different where you are.

  • Juan “D.” Ace
    Juan “D.” Ace Год таму +1

    Great vid! I am currently getting my licenses and would love to follow your footsteps 💯

    • Josh Olfert
      Josh Olfert  Год таму

      @Andrew Vij Actually didn’t go! Decided for me personally it wasn’t the best use of my time and money. More here: by-clips.com/video/9dy_qhHGVXk/відэа.html

    • Andrew Vij
      Andrew Vij Год таму

      @Josh Olfert what college did you go to?

    • Josh Olfert
      Josh Olfert  Год таму +1

      That’s awesome Juan! I’m hoping the best for you. I’m here if you need help or have questions!

  • 2000chevy4x4
    2000chevy4x4 Год таму +1

    What a great instructional video! Thank you!

  • I am Simran
    I am Simran 8 месяцаў таму +1

    Accounting vs finance degree what would u advise?? For undergrad degree in Canada

  • Gabriel Velloso
    Gabriel Velloso Год таму +1

    Nice video!
    What is the difference between Financial Advisor and Financial Professional?

    • Josh Olfert
      Josh Olfert  Год таму +2

      Good question! I’m not sure there’s an official one (and there’s certainly a healthy dose of confusion around Titles - they aren’t regulated well). In my view:
      Financial professional = Anyone who’s a credentialed person working in the finance industry (CPA, CA, CFP, CFA)
      Financial Advisor = A job title for mostly anyone that works with the public selling or advising on financial products.

  • A Lone Pizza
    A Lone Pizza Год таму +4

    What would your advice be for a yound cable technician looking to get into this field? I'm making decent money for my age (23) but don't plan on crawling in attics for the rest of my life lol. I'm going to be going back to school for Finance soon, and will likely go into a firm but I do hear that entrepreneurship is 10x better then being with a firm, but I would be extremely nervous handling clients finances as a noob! Any advice? Thanks and great video!

    • Josh Olfert
      Josh Olfert  Год таму +1

      Thanks for supporting the channel! I started with a larger firm for about 1 year and then built my own practice. With all of the regulation and compliance its very difficult to start on your own in this business on day 1. You will almost always need some sort of supervision or sponsor in your first few years.

  • Jared Hendren
    Jared Hendren 9 месяцаў таму +2

    Love this video and it is definitely helping guide me on my path in finance, but can I recommend one thing?
    Equalize your microphone audio in your videos. I can only hear you with my right ear and I'm partially deaf in that one 😅

    • Josh Olfert
      Josh Olfert  9 месяцаў таму +1

      Audio was blown in this video. Not happy about it. Thanks for sticking around anyways.

  • theduckgoesmoo
    theduckgoesmoo Год таму +3

    Great video! I relate to a lot of the things you said, so it's nice to know I'm not the only one.

    • Josh Olfert
      Josh Olfert  Год таму

      You sure aren’t! Thank for watching 🙏🏽

  • RADHE KALAMKAAR
    RADHE KALAMKAAR Год таму +2

    Love from India ❤
    I'm also going to opt the course of Finance very soon❤
    Wish me luck My big brother✌✌☺☺

  • KizoKlapz
    KizoKlapz Год таму +4

    Hey question, do i have to start my own business? Or can i work for somebody else?

    • Josh Olfert
      Josh Olfert  Год таму +1

      The opposite! I think it’s MUCH easier to start with an established firm. If you’re in the USA look for a good independent RIA in your area. In Canada find an independent (Non-Bank) broker/dealer and it’ll be a great start. The career is never easy at the start, but you can make it easier by leveraging an existing brand and platform. Hope this helps!

  • tylah
    tylah Год таму +6

    great video! i was surprised when i saw that this video had less than 10k views. im studying to become a financial advisor right now

    • Josh Olfert
      Josh Olfert  Год таму +2

      Thank you for the vote of confidence! Sorry for the terrible audio. That’s awesome! All the best to you. Let me know if you have any big questions I can build content around. Cheers!

  • Shona Bertrand
    Shona Bertrand Год таму +7

    Josh you're a CFP! Start charging what you're worth for planning and advice. 250 is a lot of clients, imagine if 100 of them paid you a few hundred bucks a month for your expertise!!!

    • Josh Olfert
      Josh Olfert  Год таму +4

      Thanks for the encouragement Shona! My median client is under $100K investable assets. More often than not “a couple hundred a month” would be pretty detrimental from a fee perspective.

  • Blake Jacques
    Blake Jacques Год таму +2

    hey josh! love this channel and these types of videos, im currently in university and wondeirng what school you went to and what degree you acheived if so? thx man!

    • Josh Olfert
      Josh Olfert  Год таму +1

      @Thomas Knight Hey Thomas! Good detective work. I use my real name, but I'm in Canada! Check here instead: fpcanada.ca/findaplanner

    • Thomas Knight
      Thomas Knight Год таму +1

      @Josh Olfert You need a bachelors to get a CFP. I looked up your last name on the CFP directory and nothing came up. Do you use a different name on your YT than your legal name?

    • Josh Olfert
      Josh Olfert  Год таму

      @Blake Jacques Love it!! Cheers my man

    • Blake Jacques
      Blake Jacques Год таму +1

      @Josh Olfert solid man! good for you! creating your own business is a job inside of a job itself, love the grind. can’t wait to see where you will take haven 🚀 definitely will be in the same field when i’m qualified! probably will cross paths !

    • Josh Olfert
      Josh Olfert  Год таму

      Thank you Blake!!
      I never went to university. I was lucky that in high school I knew exactly what I wanted to do and how I could get there without a degree. So I took the risk and built all this up in the 5 years I would have spent in school, and got my CFP in lieu. Cheers! Thanks for your support.

  • We Wives Life Chats
    We Wives Life Chats 9 месяцаў таму +1

    Thanks for your honesty
    Great video and information

  • Rhyan DeVanno
    Rhyan DeVanno Год таму +1

    Hi Josh I know this is not about the video at hand but i think you'll be best to answer: I'm 19 I have a credit score of 716. (im an authorized user on a few of my parents accounts) I have 1 boscovs credit card i opened a little over a year ago. I would like to open up more credit cards of my own so when I decide to hop off my parents cards I have good credit. Any idea for a good first card for myself.

    • Josh Olfert
      Josh Olfert  Год таму

      Always!

    • Rhyan DeVanno
      Rhyan DeVanno Год таму +1

      @Josh Olfert Ok thanks Josh! I appreciate your quick replies, and very helpful information I appreciate you taking the time to talk to me!

    • Josh Olfert
      Josh Olfert  Год таму +2

      @Rhyan DeVanno I would say 19 is certainly old enough to take responsibility over your own credit cards! Just be smart. Never carry a balance and pick a card that is the best option for the rewards you want. That’s 90% of the battle. Then always pay it early. If you have trouble paying it, cut it up! Credit cards are only ever a bad thing if you hold a balance. Establish your credit early! 👊🏽

    • Rhyan DeVanno
      Rhyan DeVanno Год таму

      @Josh Olfert I'm from America, lol I just used that picture when I was probably 15 because I couldn't think of anything else.
      Also my parents just spent good portion of there credit card limit and my score dropped 70 points do you think its smart to stay on with them? Or start fresh on my own?

    • Josh Olfert
      Josh Olfert  Год таму

      Hey Rhyan! Thanks for the comment.
      What country are you in?
      (PS. I love rhinos)

  • Valerio Di Francesco
    Valerio Di Francesco 10 месяцаў таму +1

    what are the best degrees of financial planning in Australia (online and offline)???

    • Josh Olfert
      Josh Olfert  10 месяцаў таму

      Degrees are overrated in my view! Deep Self-learning by reading the foundational books in personal financed with a CFP for credibility is more than enough. For the CFP part, go here: fpa.com.au/education/cfp-certification/

  • Theresha C
    Theresha C Год таму +1

    Great video! Next Graham Stephan. I'm looking forward to start my finance course :)

  • MVTHAJEWELER
    MVTHAJEWELER 8 месяцаў таму

    What is the difference between investment representative and investment advisor?

  • Thomas Knight
    Thomas Knight Год таму +1

    Calls himself a "registered certified financial planner" when CFP is not a registration, an individual is not registered, an entity is, and the only proper use of CFP is to say you are a certified financial planning professional, not that you are a cfp, since a cfp is a designation not a license. It was literally on the test

    • Josh Olfert
      Josh Olfert  Год таму +5

      Lol you're really giving me a hard time here Thomas! I operate in Canada. That's where the misunderstanding is.

  • nervousn1nja
    nervousn1nja 6 месяцаў таму +1

    You do not show up on FINRA's BrokerCheck, the SEC's IAPD search, or the CFP Board's verification search. What exactly makes you a "financial advisor"?

    • Josh Olfert
      Josh Olfert  6 месяцаў таму

      Nice work diving deeper! Given all the terrible financial advice on the internet, I respect that. What makes me a "financial advisor" is that I'm a registered CFP -- in Canada. I believe you're on the wrong site.

  • Brian Morton Jr
    Brian Morton Jr Год таму +1

    Glad to see you are making income from online source!

  • Wendy Anyango
    Wendy Anyango Год таму +1

    This is so helpful, thank you. I'm so gonna be the female version of you 💯

    • Josh Olfert
      Josh Olfert  Год таму +1

      Flattering!! Thank you! Feel free to set the bar higher. You can FAR surpass me.

  • King Christophis
    King Christophis Год таму +4

    How would you describe the sales experience? Is it a huge component in your eyes?

    • King Christophis
      King Christophis Год таму

      @Josh Olfert well, darn.

    • Josh Olfert
      Josh Olfert  Год таму +2

      I think getting into large ticket sales for experience and self development is one of the best things you can do for your career! You learn that sales isn’t about making people do what they want to do, it’s about getting them involved in a process that makes them excited and ultimately creates a win-win. Other than being an extremely competent software programmer, there is no skill more valuable to your career than sales in my view.

  • Khalil Jones
    Khalil Jones Год таму +3

    So 10 million in assets only bring 8k a month? Well that’s not to bad just thought it would be at least 11

    • Josh Olfert
      Josh Olfert  Год таму +1

      Close! But it’s typically less for most advisors who’s firm offers them everything. If you’re self employed and run your own firm it’s about this.
      You’re right - and the public still complains about fees. I’d ask them to try and survive for 3 years as an FA 😂

  • MD8694
    MD8694 2 месяцы таму +1

    Hey Josh! New subscriber here. Quick Q - $10,948, and not factoring any SEP/SIMPLE contributions you still need to deduct from your total gross income, correct?
    Thank you in advance!

    • Josh Olfert
      Josh Olfert  2 месяцы таму

      Thank you for the encouragement! Its definitely difficult to start something from zero and build it up. Best of luck! Let me know if you have any content ideas.

    • MD8694
      MD8694 2 месяцы таму +1

      @Josh Olfert hey man, I really do love your content. You’re gonna kill it in BY-clips as well it’s only a matter of time before your channel takes off just like your business did (first 3 years are always the hardest, right)
      I’m also a FA and currently really unhappy with my firm. I don’t have my CFP (yet, going to go back to school to get it) but I appreciate the work you do and show how fun our job can really be if done correctly!!
      Love from Cali.

    • Josh Olfert
      Josh Olfert  2 месяцы таму

      Thank you for the sub!! Glad you've found some of the videos helpful. I might have to do an update on this as these numbers have all changed by 20-30% or so since I filmed this (and maybe I'll make sure the mic is plugged in this time). So its no longer accurate.
      As for your question, things change once you earn revenue through a corporation. For me, I simply max out my registered accounts each year and invest the rest inside the corp.

  • BenDover
    BenDover 7 месяцаў таму +1

    Do you have to build ur own business or can u work for a large business ?

    • Josh Olfert
      Josh Olfert  7 месяцаў таму

      Both are possible! In fact it’s much simpler to build within an existing business but I was far too passionate and foolish to heed that.

  • SeanClips
    SeanClips 6 месяцаў таму +1

    Do you have any beginner book recommendations while I’m still in school leading or any advise for me to help better prepare myself? I would be so thankful to be in a position you are one day

    • Josh Olfert
      Josh Olfert  6 месяцаў таму +1

      Here you go! by-clips.com/video/KlaeuB-3qx0/відэа.html
      And if you want more: jolfert.com/reading-list/

  • I Kalam
    I Kalam 10 месяцаў таму +1

    Great content!

    • Josh Olfert
      Josh Olfert  10 месяцаў таму +1

      Thanks Imran! I appreciate you looking past the audio quality 😬🙏🏽

  • Anthony Navarro
    Anthony Navarro 5 месяцаў таму

    I’d love to connect and pick your brain and learn something from you I. I am currently in this role running my own firm as well.

  • Aleeka shorts
    Aleeka shorts Год таму +1

    Please make a video on how you became a qualified financial advisor🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺🥺

    • Josh Olfert
      Josh Olfert  Год таму

      Here you go: by-clips.com/video/LBq9qQZbc4w/відэа.html

  • broken glasses
    broken glasses 9 месяцаў таму +1

    The suggestion I would give to your video is to make some graph or break down like numbers just stay on the screen as you read and do the math. Since you're already sharing the numbers and screenshots, might as well just do some more visuals so we don't have to listen to the numbers and do math in our own head, just my opinion, you might choose pasta over my opinion but there you go.

    • Josh Olfert
      Josh Olfert  9 месяцаў таму

      Nope! I love it. In addition to making sure the mic is on next time …

  • Andrea Arce
    Andrea Arce 9 месяцаў таму +1

    Ty for this Im becoming a vp fc this sept and I’m nervous!

  • Emely Morales Varona
    Emely Morales Varona Год таму +3

    I want to become a Financial Advisor.What is the best way to start ?

    • Josh Olfert
      Josh Olfert  Год таму

      Right on! That’s fantastic. I’d start here:
      by-clips.com/video/LBq9qQZbc4w/відэа.html

  • angel Garcia
    angel Garcia Год таму +2

    Do or can financial advisors get payed a salary?

    • angel Garcia
      angel Garcia Год таму

      @Josh Olfert Thanks for the advice.

    • Josh Olfert
      Josh Olfert  Год таму

      Aboslutely! But that usually comes along with trading away your freedom. The two primary models are:
      1) Work for yourself (no salary)
      2) Work for someone else (salary)
      If you’re fascinated with financial planning and investing either can be a great fit. But if you value freedom over security you’d want to opt for a role with no salary. These roles are typically structured in a way that allows you to be your own boss.

  • Daniel Rodriguez
    Daniel Rodriguez Год таму +1

    how did you go about building clientele?

    • Josh Olfert
      Josh Olfert  Год таму +1

      Hey Daniel! Here's my take:
      1) Provide value to as many people as possible, for free
      2) Get on the internet and broadcast your message (IG, FB, YT, blog, etc)
      3) Treat every new client you get like gold
      4) Do that over and over again for many years
      But a ton more on that here: by-clips.com/video/LBq9qQZbc4w/відэа.html

  • Jyoti kasturi
    Jyoti kasturi 10 месяцаў таму +1

    How to become financial advisor? Can you make a video about that please

    • Jyoti kasturi
      Jyoti kasturi 10 месяцаў таму

      @Josh Olfert thank you 😊😊

    • Josh Olfert
      Josh Olfert  10 месяцаў таму +1

      Try some of these!
      by-clips.com/video/LBq9qQZbc4w/відэа.html
      by-clips.com/video/NehsumXKDl0/відэа.html
      by-clips.com/video/KlaeuB-3qx0/відэа.html

  • Samuel Lee
    Samuel Lee Год таму +1

    good job!

  • Brandon Glover
    Brandon Glover Год таму

    Good video and content. Your voice audio only comes out of 1 speaker BTW. But Im sure you've been made aware of that by now. Cheers!

  • Dr Vinson
    Dr Vinson Год таму +3

    What’s your average ROI?

    • Josh Olfert
      Josh Olfert  Год таму

      Tough to answer. 250+ Clients and they’re all slightly different in some way.
      Some of our strategies will outperform the market by a couple percentage points in a year, while some will lag in certain years.
      Probably ends up being pretty close to the average market return, maybe slightly higher.
      Assume 8-9% on Equities and 2-4% on Fixed Income but those are by no means stable.

  • FeloniousC
    FeloniousC Год таму +4

    Could you be a Firefighter and a Financial Advisor at the same time?

    • Josh Olfert
      Josh Olfert  Год таму

      Bang on. Case in point.

    • Josh Olfert
      Josh Olfert  Год таму +1

      Yeah absolutely! That would be a killer combo. Provided your clients know that 2 weeks out of the month you’re probably MIA. That’s the challenge I see. And lastly, you’d need to find a dealer firm that it willing to have you working 2 jobs.

    • Powerfully Motivated Entertainment
      Powerfully Motivated Entertainment Год таму +2

      I live in Ontario and just starting for Sun Life they don't allow you to have outside work as they want you to be committed to your work 100%

  • Jason Signor
    Jason Signor Год таму +1

    Good video but I thought I went deaf in my left ear at first. lol. Okay... So, you make $10K a month and you say IN SOME WAYS you are extremely grateful!? IN SOME WAYS?? You make more than most people will ever make!!! You should be EXTREMELY GRATEFUL! Just remember... it can all go away. No-one is immune from difficulty. Proceed with humility and you'll do well.

    • LENNON
      LENNON  10 месяцаў таму

      @Josh Olfert what’s your social circle like? Who should I be targeting? Start Monday.

    • Josh Olfert
      Josh Olfert  Год таму +2

      Thank you for the reminder Jason! You’re absolutely right. The nature of my work and social circle makes for a massive selection bias. I have friends who are 10x better off and it’s hard not to compare upwards. Thanks again!

  • Ralph Morgan
    Ralph Morgan 11 месяцаў таму

    You listed your monthly income streams (about $100K pa if you ignore the rental investment income, which isn't really related to your FP work), but didn't say what your expenses are.

  • A Font
    A Font Год таму

    How do you become a financial advisor

  • ethan murdoch
    ethan murdoch Год таму +1

    You are living my dream

    • Josh Olfert
      Josh Olfert  Год таму +1

      Why thank you! 🙏🏽 And someone else is living mine! The dreams never end.

  • Emely Morales Varona
    Emely Morales Varona Год таму +1

    definitely interested

  • Ash AA
    Ash AA Год таму +2

    You might want to consider to use a mic for a better audio... great video

    • Josh Olfert
      Josh Olfert  Год таму +1

      I know!! All the other videos do. Audio crapped out on this one 🥴
      Thanks for the support

  • Rousky Regny
    Rousky Regny Год таму

    Hi. What are the licence you have ? Could you name number

  • h l
    h l 4 месяцы таму +1

    Dude … stop click& bait title, just say straight forward how much you make at the BEGINNING of the video as your title PROMISED… and leave all other whatever not title direct information later

    • Josh Olfert
      Josh Olfert  4 месяцы таму

      So what you're saying is the audio was fine?

  • Living With Dean Summers
    Living With Dean Summers 7 месяцаў таму +2

    This must be the most fake video and the guy really loves himself.. 1 minute of my life i will not get back

    • Josh Olfert
      Josh Olfert  7 месяцаў таму

      I'm so happy you liked it!

  • erikaaxj
    erikaaxj Год таму +1

    I feel like financial advisors are just sales people

    • Josh Olfert
      Josh Olfert  11 месяцаў таму +1

      That assumption will render you correct probably +90% of the time!! 🤣

  • Taylor Z
    Taylor Z Год таму

    Josh what are your thoughtd on the score stock? $scr

  • Fredrick
    Fredrick 6 месяцаў таму

    If you are new, what are some good companies to partner with to build a book?

  • Aaron Wojnowski
    Aaron Wojnowski Год таму +7

    Why didn’t you disclose your OnlyFans income?

    • Alana Schlichting
      Alana Schlichting Год таму

      coming soon to a channel near you

    • TomStefaniuk
      TomStefaniuk Год таму +1

      That’s what I wanted to know too!!

    • Josh Olfert
      Josh Olfert  Год таму +3

      Waiting for the day that the mic is working

  • Brandon Yanchus
    Brandon Yanchus Год таму +1

    Getting that trailing commission up - build that annuity!

    • Josh Olfert
      Josh Olfert  Год таму +3

      Yessir! Just doing my best not to get spread too thin 👊🏽 Thanks for the encouragement

  • Michael Coleman
    Michael Coleman Год таму +2

    I’m a broke 24yr old, hire me 😭

  • Nick Peterson
    Nick Peterson Год таму +2

    You should get a mic. I think it'd make your vids even better.

    • Nick Peterson
      Nick Peterson Год таму +1

      @Josh Olfert ​ @Josh Olfert ​ @Josh Olfert lmao I'm sorry that's really unfortunate. Although, if you did make an updated vid it'd likely do even better.
      I just discovered your channel today and I think you've got the job I want. I'm 18 now and I've really gotten into the idea of investing and building one's wealth. I'm now watching your vid about how you became a financial advisor and I have a few questions for you.
      1. What books should I read? (I went to your website but it seems to be down atm)
      2. Also since I think you do have the job I want, do you mentor people lol? :)
      3. And finally, what made the first few years so difficult? finding clients?
      I know this probably seems like a really long response I'm just really interested in your career and lifestyle so thanks for making videos about it

    • Josh Olfert
      Josh Olfert  Год таму +1

      I’ll forever be plagued by my top video on BY-clips having terrible audio 😂 It’s like perpetual punishment.
      Maybe we’ll just have to do a 2021 Update? 🤷🏽‍♂️

  • King Bobb
    King Bobb 11 месяцаў таму

    Bro love the vid but invest into a mic. The audio is not good.

  • just_another_guy
    just_another_guy Год таму +14

    That fade made me fade away from the content. Nice job!!

    • Cruzn2Victory
      Cruzn2Victory 11 месяцаў таму +1

      Just watched but for real need your barbers number!!!

    • Josh Olfert
      Josh Olfert  Год таму +3

      Hahahaha. Thanks 🙏🏽 It was the audio for me ...

  • Sumit Sharma
    Sumit Sharma 11 месяцаў таму

    Can you tell something about financial planner and analyst. I am just confused.

  • john ohm
    john ohm Год таму

    What song is that in the intro?

  • Bob Simpson
    Bob Simpson 9 месяцаў таму

    My right ear loved this.

  • Devon Inman
    Devon Inman Год таму

    Can you work remotely

    • Josh Olfert
      Josh Olfert  Год таму

      @Devon Inman Thats legit not a problem whatsoever unless you find yourself in an extremely unlikely scenario like a global lockdown with an associated quarantine and international travel ban.

    • Devon Inman
      Devon Inman Год таму +1

      @Josh Olfert yea I feel that, in person relationship building, but like I general if you wanted to take a slightly extended vacation it wouldn’t be an issue to handle some things remotely ?

    • Josh Olfert
      Josh Olfert  Год таму +1

      Yes and no! I can work remotely because most of my work would be in an office anyways. But its really nice to meet clients in person.

  • ALPHAFPSTTV
    ALPHAFPSTTV Год таму +20

    That hair cut is so fresh damn!!!!!!!! I like y’a cut G!!!!!

    • LENNON
      LENNON  10 месяцаў таму

      @Josh Olfert facts

    • ALPHAFPSTTV
      ALPHAFPSTTV Год таму +1

      @Josh Olfert ayy no problem 😉 keep up the great videos keep on the grind 🇨🇦

    • Josh Olfert
      Josh Olfert  Год таму +4

      Eyy!! Thanks brother 😂

  • Clever Name Here
    Clever Name Here Год таму +1

    Ahh this video is mono through the right side channel for his voice and the music is through the left. 😔

  • Tyler
    Tyler Год таму +1

    My right ear enjoyed this

  • Salma Jahan Lipi
    Salma Jahan Lipi 3 месяцы таму

    Plz make vdos on cryptocurrency

  • Shathabdhi R
    Shathabdhi R Год таму +33

    My right ear is giving beep sound 😭🔊

  • Nadyaa M.
    Nadyaa M. Год таму +8

    Nice fade. I have my interview tmrw :P

    • Josh Olfert
      Josh Olfert  Год таму +2

      Thank you! hahaha. Best of luck!!

  • YouTubeBest
    YouTubeBest 5 месяцаў таму +1

    my right ear enjoyed this

    • Josh Olfert
      Josh Olfert  5 месяцаў таму

      Biggest mistake in history of the channel...

  • Angel Rodriguez
    Angel Rodriguez Год таму +2

    I would like to

  • Marwin Clark
    Marwin Clark Год таму

    My right ear enjoyed this

  • iCharlesdesu
    iCharlesdesu Год таму

    i thought my headphones are broken

  • TeaBone 123
    TeaBone 123 Год таму

    IRS watching this like 🥵🥵

  • Lebron James
    Lebron James 11 месяцаў таму +1

    Get a mic

    • Josh Olfert
      Josh Olfert  11 месяцаў таму +1

      I can’t believe I even failed Lebron James

  • one after another
    one after another Год таму

    My left ear is lonley

    • Josh Olfert
      Josh Olfert  Год таму

      I know ... my top video ever has trash audio...