Planner or advisor?

Q – What is the function of a financial planner and a financial advisor? – B.W.

A – The two terms are often used interchangeably. However, a financial planner is usually thought of as someone who is capable of preparing a comprehensive financial program for you. This would encompass retirement planning, tax strategy, estate planning, an asset allocation model, etc.

A financial advisor is a person who assists in the selection of securities that are suitable for your specific needs. A broker is a typical example.

There are people who can and do function in both capacities, of course. – G.P.