Virtual fee-only financial planner

Individuals, couples and young families who want unbiased guidance but don't have enough assets for a large wealth manager.

Flat fee per plan, hourly rate, or a monthly subscription for ongoing check-ins. Fees are paid by the client, so you don't earn product commissions.

• Solid knowledge of investing, taxes and retirement accounts
• Clear, jargon-free explaining
• Building trust with people over video
• Organized record keeping

• Giving investment advice for pay usually requires registration with your state or the SEC, so check which applies and what exams are needed
• Professional liability (errors and omissions) insurance, plus general liability, is worth checking
• Rules on client data security, record keeping and written disclosures
• Using titles like 'CFP' only if you hold the credential
• Income can be slow to build because clients need time to trust you

Startup costs are typically around $3,000 to $15,000, depending on your software, security tools and insurance. Professional liability (errors and omissions) and general liability cover are worth checking.

Monthly revenue is typically around $1,500 to $7,500, depending on how many clients you have and your fees. Income can be slow to build because clients need time to trust you.

Check whether you must register with your state or the SEC to give paid investment advice, and which exams apply. Also check client data security, record keeping and disclosure rules, and only use titles like CFP if you hold the credential.