Money Monday: Financial Advisor vs Financial Planner

Guest post by Vielka Burey-Jacas (@VielkaBurey)

As yet another tax season has passed,  it is also a wakeup call for all to plan smart for next tax season. Learn what type of savings programs are beneficial to you and your family, and what products in the market will make you save in your taxes.  For that, choose wisely who your financial advisor is. Nowadays anyone can call  themselves financial advisors, so let’s define.

Financial Advisor:

A financial advisor, who is generally concerned with the investments or life insurance, usually sell products and have licenses such as a Series 7 and Series 66. Financial planners are also known by the title financial advisor in some countries, although these two terms are technically not synonymous, and their roles have some functional differences.

The major difference is the fiduciary aspect of it. I am a CFP® therefore, I tend to be biased. Our emphasis is in the whole spectrum. Financial planning is usually a multi-step process, and involves considering the client’s situation from all relevant angles to produce integrated solutions.

Certified Financial Planner™ Practitioner:

A credential granted by the Certified Financial Planner Board of Standards, Inc., to individuals who complete a comprehensive curriculum (Investments, Taxation, Employee Benefits, Retirement, Insurance & Estate Planning) in financial planning and ethics.

As you start saving, empower yourself with knowledge and find the right fit for you.


ABOUT THE AUTHOR: Vielka Burey Jacas is a Certified Financial Planner and a volunteer expert at LifeTuner. Vielka has a passion for helping family, students, homeowners, businesspersons, employees and other Latino c ommunity members expand their opportunities through improved financial literacy, and has extensive experience in the private banking and investment planning sector, having spent many years with both domestic and international banks.




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