In addition to these tasks, financial planners also often offer guidance on reducing debt, college savings, and estate planning. This includes creating budgets, helping to invest money wisely, and recommending appropriate insurance policies. What Does a Planner Do?įinancial planners are responsible for developing comprehensive financial plans for their clients. Financial planners typically have a degree in finance or economics, or relative experience and many also have certification from the Certified Financial Planner Board of Standards (CFP) or other designation groups. They can provide advice on investments, insurance, retirement planning, and more. What is a Financial Planner?Ī financial planner is a professional who helps people create and manage their financial plans. One key difference between these two professions is that financial planners if operating in a fiduciary capacity must act in the best interest of their clients at all times, whereas financial advisors do not have such a legal obligation. A financial planner typically has a degree in financial planning, relevant experience, or operated in a related field, while a financial advisor can have any number of degrees or designations. For those who may be unsure about which type of professional they should consult with, this article can help you make an informed decision before hiring one.Ī financial planner is also considered a financial advisor, but not necessarily the other way around. In this article, we will discuss the different responsibilities of each as well as their roles in helping clients reach their financial goals. Many people are not sure what the difference is between a financial advisor and a financial planner.
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