Difference between Financial Planner and Financial Advisor

Financial management is a still gobbledegook for a majority of people, and they more often than not enlist the services of professionals to help them manage their money. It is a safer option as by paying a certain amount to the professional you ensure that your financial condition is secured and your money is safely invested, all your taxes paid and you can live without the stress.

A finance professional helps you in every aspect of your wealth and more often than not will help you create and achieve your financial goals. While hiring a professional people often get confused with regards to what they are looking for. A financial planner and financial advisor being the professions people get confused about a lot. We are here to help you understand the difference between the two.

Financial Advisor

A financial advisor is a general term used for any and all professionals who help you in managing your finances. The term financial advisor is an umbrella term for a multitude of professionals including stockbrokers, bankers, investment bankers, estate planners, insurance agents, etc. A financial advisor is a classification for a number of jobs related to money management, and it is a general term which also encompasses specialized professionals like Financial Planners.

Financial Planner

A financial planner is a specialized professional who helps companies and individuals meet their long term or short term financial goals through carefully planned programs. Financial planners are specialised individuals with possible specializations in investments, taxes, retirement, estate planning or stocks. Financial planners may hold a number of licenses and designations.

Some of the designations a financial planner may hold are Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Chartered Financial Consultant (ChFC) and Certified Investment Management Analyst (CIMA), etc. All these licenses can be obtained through a set course and examination giving financial planner expertise over a number of subjects and increasing his employability.

Double Checking

When looking for financial planners one has to be informed about the kind of services he wants to acquire and whether the planners he’s approaching or employing have expertise in the said field. A certified financial planner who is experienced enough to understand your needs and suggest the best possible plans is hard to find species and you must be vigilant in your search. SNPFP checks all boxes when it comes to reliability and quality of services and is the go-to destination of all your financial management and planning needs.