Everything You Want to Know About Financial Planners

Everything You Want to Know About Financial Planners

Financial experts come in a wide variety, varying from accountants and insurance agents to brokers, financial advisors, and financial planners. Since a financial planner is a particular financial advisor, the phrase is typically used interchangeably. Financial planners may help you with retirement, investments, taxes, estate planning, and more.

Because of the position’s complexity, many people only use the term to describe those who have obtained specific qualifications like the CFP or Chartered Financial Planner accreditation. A financial advisor is a financial planner; however, not every financial advisor qualifies as a planner.

What is a financial advisor?

An expert who assists you in handling your finances is a financial advisor. They might create a comprehensive estate and tax plan, acquire or sell equities, or help with investment management. PMW advisors will frequently concentrate on a specific issue. However, they take a limited view of the issue and only offer advice about what you have asked for.

Financial advisors in your area may provide the following:

  • a tip on just how much cash to save
  • suggesting financial investments
  • giving tax assistance
  • purchasing and selling stocks on a client’s behalf

What is a financial planner?

A financial planner from a Surrey investment advice agency is a professional who approaches their client’s money more thoroughly. They’ll assist with developing a strategy for retirement planning, saving money, and investing. In addition to helping clients reach their financial objectives, the task may entail eventually managing investment portfolios. While many financial planners help one-on-one customers in their practices, they may also work for banks or wealth management firms.

Key Differences

A financial advisor is a person who manages preparation as well as other facets of money management or financial products, which is a more general phrase. They could provide financial services, life insurance, real estate, or accounting services, as well as short-term trade facilitation.

A financial planner relies on strategic portfolio appropriation for investments with relatively lengthy time horizons. CFPs are held to a high standard, but the term “financial advisor” can apply to a wide range of professionals who may or may not be held to the same standards.

Which one fits you best?

  • In some situations, both financial advisors and planners might be beneficial. Regardless of who you choose to work with on your finances, be sure to follow some simple guidelines to safeguard your interests and maximize your resources:
  • Request referrals from friends and family, but also do your unbiased assessment by speaking with them and asking plenty of inquiries.
  • Before hiring someone, validate their credentials, background, and whether they have ever been the subject of complaints.
  • Request a detailed explanation of their compensation from them, including how you will pay them and whether they will receive any other compensation for their work for you.
  • If you intend to use them to make investments, find out if they have the necessary authorization to offer you the investment before checking their claims.


Both financial advisors and financial planners assist customers with financial matters. Nonetheless, “financial planner” usually pertains to a Chartered Financial Planner. Finding the right financial expert will be vital when you need assistance with a particular financial concern.

A CFP will be a better choice if you have a more serious problem or want a professional who will manage your finances more actively. A Chartered Financial Planner is someone who understands financial planning and counseling. This accreditation characterizes global standards for financial management.