What does a financial planner do?

A financial planner is a professional who takes inventory of your finances, then creates a plan to help you meet your current financial needs and long-term goals. That typically means assessing your financial situation, understanding what you want your money to do for you (both now and in the future) and helping create a plan to get you there.

What makes a good financial planner?

The best financial planner is the one who can help you chart a course for all your financial needs. This can cover investment advice for retirement plans, debt repayment, insurance product suggestions to protect yourself, your family and estate planning. Depending on where you are in life, you may not need comprehensive financial planning.

What is the difference between financial advisor and financial planner?

Financial advisor (or financial consultant) is a broad term that encompasses many different professionals who help people with their money. A financial planner is a type of financial advisor who typically focuses on offering holistic financial guidance in addition to services such as investment management.