Financial Planner vs Financial Advisor – What’s the Difference?
A Financial Planner and a Financial Advisor are not the same thing.
Let me try to illustrate the difference with a short story.
I met with a couple last week who told me that they had gone to see a financial planner before coming to see me.
Out of curiosity, I asked them what planning services were offered.
“Advice on how to invest our money,” they told me.
“No planning what the money is for?” I asked.
“No…?” came their response, a confused look on their face.
Financial advisors often call themselves financial planners. But financial advice and financial planning are not the same things:
– Financial Advisors invest your money to help you meet your goals.
– Financial Planners helps you define your goals.
– Financial Advisors works out how to invest.
– Financial Planners works out if you need to invest.
– Financial Advisors invests your money so that you should have enough.
– Financial Planners works out how much is enough.
Both are necessary to achieve long-term success.
However, the plan comes first, then the investments.
Second Opinion Service
If you want to get a second opinion on your finances, I’m here to help. I have a professional obligation to help as many people as I can. I’m happy to provide an initial consultation free of charge.
All the best,
James Mackay, Independent Financial Adviser in Bristol
P.s if you liked this, you’ll probably like my article on the key differences between a financial adviser and a financial planner.
Financial Advisor Bristol and Pension Advisor Clifton
About us: Frazer James Financial Advisers is a financial advisor, based in Clifton, Bristol. As an independent financial adviser, we’re able to provide independent and unbiased financial advice. We provide independent financial advice, pension advice, investment advice, inheritance tax planning and insurance advice.
Frazer James Financial Advisers is located at Square Works, 17 – 18 Berkeley Square, Bristol, BS8 1HB.
This article provides information about investing, but not personal advice. If you’re not sure which investments are right for you, please request advice.
Remember that investments can go up and down in value, you may get back less than you put in.