How is Financial Advisor different from Financial Planner?

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by Aarisha
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RE: How is Financial Advisor different from Financial Planner?

Alok Agrawal
Alok Agrawal
Verified Career Expert
Mananger at Etoe Group/Career Counselor
  • Bangalore


Financial Planning is about taking a introspection view on financial situation of the company and laying out a strategic plan for the company. The person doing the same is known as financial planner.
A Financial Planner is a person who helps you to create a lay out map for the financial future of the company.All plans laid are in accordance of the need and objective of the company. He advise client on how best they can save, invest and grow their money

The Financial advisor is a person who is mainly concerned about the investment decisions of the company which is small part of financial planning but done in full perfection and specification.It is mostly to do with where you put your money and what should be the return.Financial advisor deals specifically with Investment needs of the company and designs a plan for the same. Financial advisor guides you how to invest your money in the best way in accordance with financial plan created by financial planner.

The work of financial planner is not only confined to investment advise but also to all the areas related to money inflow and outflow.It involves as mentioned below:

  • Strategic plan for future
  • Portfolio management
  • Income tax knowledge
  • Internal and external audit
  • investment advice
  • Risk management

Just if some one is doing financial planning it does not means he is giving financial advise also or vice verse. Make sure about the difference between both financial planning and financial advising.
Both areas requires huge amounts of knowledge and understanding. There are many people who are offering both planning and advising providing both type of services in one but two in one approach not always works.
If you see some big companies they will be be having one financial planner and one financial advisor for both the roles done perfectly and specifically without diluting the scope and importance of the area.

It depends on how much is your budget and how much you can afford for your company's growth and future.
If you can put more money into it than you should hire separately financial advisor and financial planner foa more sophisticated approach and results.

Always people look for financial advisor and planners who are certified as they are licensed and have different aspect of financial planning and advising.

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