Making Money as a MSE

Kimitatsu

MrsTine wrote: »

I believe (and I may be wrong!) that as soon as you charge for your service and class it as financial advice - which you would - then you need to be registered and actually have formal training... this is not only for your protection but your "customers" too... there is a world of difference between listening to the advice of a mate and paying someone to advise you... what if 6 months down the line it turned out you had mis advised them and they came asking you to compensate them?

You do You have to be registered with the OFT and comply with the terms of having a consumer credit licence in order to be able to give financial advice.

You also have to have third party insurance in case of mis selling or poor advice.