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Financial Advisor vs Financial Planner

If you’re looking to find a financial professional who can help you manage your money, you’re probably wondering if you need a financial advisor or a financial planner in Saddle Brook, NJ. Although these popular titles are often interchanged, it’s important to note that they’re not exactly the same. While all financial planners are financial advisors, not all financial advisors are financial planners.

People who need help with money management can go to a financial advisor. However, when it comes to choosing a financial planner, understanding the financial planning landscape beforehand is a must. Financial planners can be investment advisors, brokers, accountants, insurance agents, or people who don’t have any financial credentials.

Before you decide to turn your money over to a financial professional, you should perform your due diligence. Let’s explore the key differences between a financial advisor and a financial planner.

What's The Difference? Financial Advisor vs Financial Planner

Financial Advisor

This is a broad term that’s usually used for someone who can help you manage your money-related tasks. Aside from offering guidance pertaining to investment management, they also broker the sale and purchase of your funds and stocks and come up with an estate and tax plan.

Depending on the services they provide, financial advisors must hold a Series 65 license and other credentials. Furthermore, financial advisors generally include stockbrokers, money managers, insurance agents, bankers, estate planners, and more.

Financial Planner

On the other hand, a financial planner is a more specific type of financial advisor who’s responsible for helping organizations and individuals come up with a program that allows them to meet their long-term financial goals. This professional may specialize in taxes, investments, retirement, and estate planning. After completing their education, examination, and work history requirements, they may hold the following designations or licenses:

  • Chartered Financial Analyst (CFA)

  • Certified Financial Planner (CFP)

  • Certified Investment Management Analyst (CIMA)

  • Chartered Financial Consultant (ChFC)

Do You Need the Help of a Financial Planner in Saddle Brook, NJ?

Before you enlist the help of a planner to help you with your money, be sure to know what you’re paying for. It’s best to ask the planner about their qualifications, the services they provide, and their free structure.

With the team of professionals at 1879 Advisors, you can expect to receive quality financial guidance. Contact us today to book your appointment.

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