Today’s sluggish economy has left millions of people struggling to financially make ends meet. Lou Dobb’s coined phrase “Assault on Middle Class” continues. Virtually every corner you turn screams inflation and rising expenses. The sky-high cost of fuel and other commodities is ultimately passed to us weary consumers. Salaries once adequate for providing comfortable family living are now stretched to limits, leaving many people in search of additional income sources to help bridge gap.

LIVING EXPENSES:

If you look at major expenses in average person’s life, it's easy to identify mortgage or rent obligations at top of list. Home ownership is one of biggest living expenses and frequently hardest to obtain.

According to the Federal Housing Finance Board, and data analyzed from over 23,000 home loans from over 75 lenders, U.S. national average purchase price for a single-family home reached $264,540 in October 2004. This average is up from $243,756 average for October 2003.

Becoming a financial consultant takes time and money. It is not a get-rich-quick business, but it does lead to an unlimited income potential. Before you do anything else, you need to decide if you are committed to making time to become a finance consultant. If you decide you are, then delve deeper and learn more.

Financial consultants are also called investment consultants, because they help you plan financially through investments. The best thing to do when you decide to become an investment consultant is to contact one of many financial planning organizations such as Financial Planning Association.

You will need to become a member of many of these financial consultant associations. You are also required to take class and an exam, before you can provide financial consultant services. Each association has its own credentialing system. While it is not necessary to have all certifications, it is best to have several for professionalism and credibility.

Until you receive certification, you should get requirements from Securities and Exchange Commission as well as your State regulatory Authority for financial consultants. It is also required that you register with these agencies as well as NASD and obtain licenses from them.

Once you are certified and licensed you are ready to open your investment consultant company. However, a few things need to be done before seeking clients. You will need to decide how you will be compensated for your services, and if you will specialize in a type of planning, such as estate planning, or generalize. You will also want to begin networking with other local people in industry, such as accountants and lawyers.