Make no mistake about it; getting accredited to render any sort of service in the financial sector is an extremely arduous process, but once you’ve stuck it out and your determination to jump through all the required fire-rings pays off in the form of getting accreditation, what you’ll have in your hands is effectively a licence to print money.
I mean why do you think insurance companies are ready and willing to pay so much for the leads they get from affiliates? Why are the commissions paid to brokers so high? It’s because the financial sector has a direct pipeline to a very rich vein of income-generation channels, many of which are nothing short of effectively creating money out of thin air.
Think about the small community bank, for instance. They make the bulk of their money through the creation of loans and then charge interest on the loaned out money, money which isn’t even theirs to start off with. In addition, by mere virtue of money coming in and reflecting on the balance sheets as a deposit, they can literally, and I mean literally create money and then loan that money out and charge interest on it. This is called fractional reserve banking and the gearing allowed worldwide varies from country to country, but in some countries you can create and loan out up to twelve times the amount you have in your reserves which came in as bank deposits.
It’s totally insane, I know, but hey, I don’t make the rules but I do know that there’s a way to work these rules to your favour and if you get it right, you can really become insanely rich. As mentioned however, it’s really hard to get the proper accreditation to start trading in the financial services sector. In addition to getting an experienced team of qualified professionals on board, you’ll need a lot of capital, a lot of which will be in reserve as a means through which to protect consumers against any failures in the proposed financial services offer.
It perhaps all begins with getting a business plan drawn up by a reputable auditing firm (I’m talking one of the biggest four such firms in the world). They model everything from the required financial marketing to its costs and impact, after which time the model is exhausted from all possible angles to demonstrate what the best way forward is.
Once you have this very costly business plan drawn up, accreditation is as good as yours and you’ll be well on your way to getting your slice of the lucrative financial sector.