Financial Adviser

Finance a la shmoop what's the difference between a financial adviser

and a financial planner? well here's the Venn diagram of a financial adviser in a [Venn diagram appears]

financial planner and yes you can see that the financial planner is kind of a

subset of the advisor but well you know pours better coffee in other words all

financial planners are financial advisors but not all financial advisors

are financial planners okay so the financial planner what do they do they

plan financially what does that mean? while the planner looks at your budget

your rent your insurance your likely taxes and a whole bunch of other little [Financial planner duties appear]

detailing things that you could probably do entirely on your own if you thought

about it for five minutes but whatever trauma happened to you and [Man with injuries laying on couch]

your childhood rendered you somehow incapable of doing so and you called in

Mommy financial planner who held your hand and help you fill out whatever

forms establish whatever goals and create whatever programs you needed to

create whether you're an individual pediatrician, a small business or

something bigger well financial planners come in a bunch

of certificated flavors like certified financial planner yeah that's a big

catchy one and then there's corollary sidebar ones like chartered financial

consultant and for the really heavy hitter investment planning people well

there's a chartered financial analyst levels one two and three which is the

full contact x-rated version of being a hardcore financial planner so then [Types of financial planner appear]

what's a financial advisor or FA? or FAH as the Dolphins like to call them well

essentially they are your investment whisperer

they sit on your left shoulder and your right shoulder whispering about greed [Angel financial planner whispering on mans shoulder]

and fear and have nothing to do with that scene in Animal House and if you

don't know what we're talking about go ask your parents right now hit pause go

ask them.... greatest college movie in history thank you

specifically a financial advisor is typically a broker in one form or

another who directly helps execute purchases and sales of securities while

knowing a thing or three about estate and tax planning, insurance and other

financial adventures like the joys of owning real estate so a FA must have a

series 65 license or more the good ones have all passed the series

seven exam which is the granddaddy and a few are also CPAs i.e hardcore

accountants if you like not just counting beans but swimming in them well [Man jumps into pool of beans]

then these are both probably good gigs for you