Licensed financial adviser (investments or insurance)

Families, small business owners and pre-retirees who want advice and products arranged in one place. Product providers pay commission, and some clients pay fees.

Commission on insurance and investment products, ongoing trailing fees or asset-based fees, and sometimes planning fees. Income often builds slowly as your client base grows.

• Talking to people and building trust
• Self-discipline for prospecting and follow-up
• Comfortable studying for licensing exams
• Explaining products honestly and clearly

• Licensing and exams are required to sell investments and insurance, and rules differ by province, check with your provincial regulators
• Commission can create conflicts of interest, and you must disclose it and put client needs first
• Errors and omissions insurance, usually arranged through your dealer or agency
• Irregular income early on, so keep savings or another income while you build up

Estimates typically run around $3,000 to $15,000 CAD, depending on your licensing route, exams and setup. Your dealer or agency arrangement may affect what you pay, so compare your options.

Check that licensing and exams are required to sell investments and insurance, and that rules differ by province, so contact your provincial regulators. Also check errors and omissions insurance, usually arranged through your dealer or agency, and how to disclose commission.

Monthly revenue is typically estimated at around $1,500 to $7,500, depending on your clients and how you are paid. Income may be irregular early on, so keep savings or another income while you build up. Expect at least about 20 hours a week.