Tags: Financial planning, Investment, volatility, Stocks market,  Insurance, Money , Oil

What is the difference between a financial planner and a financial advisor?

30 July 2020

Retirement Planning and Custom Financial Planning are important for your WEALTH!!

 

 

Creating a financial plan is an important part of every adult’s life. If you have decided that you would like some help managing your financial situation (money, stock market investments, insurance plans). You may find that there is a broad spectrum of financial professionals ready to leap at the opportunity to offer you their services. And These professionals may call themselves either ‘financial advisor’ or ‘financial planner’.

The Boracchia Wiviott Wealth Partners experience,

through our  financial planning masterclass & custom plans are a complete package to manage your personal finance.

There is a number of different licenses a financial planner needs to possess in order to do their job effectively. These may include: Series 6, which is commonly referred to as the securities license. Series 63 and series 65 licenses. Long-term care insurance certificate, a real estate license and more.

 

All financial planners are in essence financial advisors. They need to study and pass exams to obtain their licenses. However a person who calls himself a financial advisor may not necessarily be a financial planner.

 

They may not possess the necessary licenses and are more focused on investment rather then helping you create a comprehensive plan which takes into consideration your long- term needs.

 

So, you would be better off going with the individual who calls themselves a financial planner. That being said, a consumer should always perform their due diligence before they entrust the management of their money to any kind of financial advisor to make sure that they have the necessary expertise and a trustworthy track record.

 

 

Differences between Financial Planning Professionals 

Retirement Planning and Custom Financial Planning are important for your WEALTH!!

  • A financial planner is a type of financial advisor. Planners help individuals and companies meet their long-term goals by creating customized programs. Financial planners usually hold various licenses. To obtain these licenses they must study for and pass various exams and have relevant work history. Financial planners usually specialize in various areas such as: taxes, retirement, stock market and other investments, estate planning, long-term care insurance and more.
  • Financial advisor is a broader term for an individual who helps you manage your money. They mostly focus on helping people with investments as well as purchasing and selling in the stock market. This broad term includes various groups of people whose work is connected to managing money.

Boracchia Wiviott Wealth Partners offers both subscription - based financial plans

and DIY investment subscription services.

We have the perfect financial plan for you and investment portfolio!

Some of these groups are: stock brokers, insurance agents, bankers, money managers and others. Imagine a metaphorical funnel. In this funnel financial advisors would be at the top in the broader category, whereas financial planners would be closer to the neck of the funnel in the specialized category.

 

Due to the proliferation within the financial industry. Nowadays some professionals who call themselves financial planners and financial advisors may do the same things.

However if we had to narrow down the differences between these professionals to just a few key aspects this is what we would end up with

 

So before you hire one do your research and make sure that your financial advisor or preferably financial planner has enough experience in the field of your interest. Your finance professional must  have the right track - record or team to help you meet your specific long-term goals. According to experts, individuals who call themselves financial advisers and financial planners may come from different backgrounds, hold many different kinds of licenses and have a varying work experience.

 

 

Is there a difference in the cost? 

Before you hire a planner make sure to understand exactly what you are paying for. Since the services planners provide differ from customer to customer it is logical that the fees they charge vary as well.

 

Fee-only planners charge you based solely on the services they provide. There are also those who are paid by commission based on the sale of specific services or products. Some advisors may earn money through the combination of these two.

 

There are planners who charge a percentage of the assets that they manage. This happens when they provide an ongoing service. Some may also charge an hourly fee. Whatever the case, make sure to discuss the payment structure and the amount with your potential planner in advance.

 

To conclude, there are many professionals who work in the financial industry and choosing the right one for you may seem like an overwhelming task. But, overall, if you decide that you need help with managing your money and meeting your goals it is better to do your research. Enlist an experienced and qualified financial planner. Because they hold various useful licenses and can help you make a detailed financial plan taking into consideration all of your long-term needs.

 

Start your DIY Stock Market Investment Portfolios Today! 

 

We have lot’s more resources. 

Begin the investment subscriptions today that can help you achieve your most precious goals, with your Boracchia Wiviott Wealth Partners.

Share this post on:

Lea Wiviott Boracchia, Co-Founder, FinancialPlans.Info and InvestingProfits.Pro, both apart of the renowned Boracchia Wiviott Wealth Partners

We are a registered investment advisory focused on accessible wealth planning for everyone. Our mission is to help women, men and people of all ages, races, locations, and anyone plan and secure their most successful future. We were originally established in 2005 by way of 3 firms before my husband Marc and I registered our independent advisory in California.

RELATED BLOG POSTS

  • Why a Financial Plan is important?

    Why Is Having a Financial Plan Important?

    30 July 2020

  • Tax Planing:  Optimize your Savings for Retirement!

    Tax Planning:

    Optimize your Savings for Retirement!

    03 August 2020

  • Frugal Living: Stop Money Waste and Save for Retirement

    Frugal Living: Stop Money Waste and Save for Retirement

    29 August 2020

  • Wealth Management: Investment Options and Careers

    Wealth Management: Investment Options and Careers

    31 August  2020

  • What Is Long-Term Care Insurance and How Does It Work?

    What Is Long-Term Care Insurance and How Does It Work?

    21 August  2020

CATEGORY

SUBSCRIBE

FEATURED ARTICLE


Stay focused on your goals with Boracchia Wiviott Wealth Partners through our 

eBooks, financial planning, newsletter subscription services, segment expertise, private wealth management, fee based planning, and industry leadership!

This site is protected by U.S. and International Copyright Laws. It can be used only as agreed with the Terms of Use, and any replicating, copying or redistribution entirely or partially, is prohibited without the strict consent of Boracchia Wiviott Wealth Partners, LLC. 12655 W Jefferson Blvd 4th Fl, Los Angeles, CA 90066. 

Copyright © 2020 by Boracchia Wiviott Wealth Partners.  All Rights Reserved.

Past performance is not a predictor of future results. Individual investment results may vary. All investing involves risk of loss. Due to the robust nature of the internet, we cannot be responsible for any information provided, you must verify the accuracy and feasibility of it all. For our full list of policies you agree to in using our site please click on policies.


Investment Portfolio Subscriptions, Classes & Resources

Commodities & Material Investing Stock Market Portfolio  

 

Communication Services, Consumer Discretionary, & Marijuana Investing Stock Market Portfolio  

 

Consumer Staple, Real Estate, & Utilities Investing Stock Market Portfolio   

 

Energy, Financial, & Industrial Investing Stock Market Portfolio

 

ETF Stock Investment Portfolio to Buy

 

Fixed Income Investment Bond Portfolio

 

Forex and Currency Investment


Global Developed & Emerging Investing Stock Market Portfolio

 

Gold and Silver Portfolio of these Best Stocks to Buy Right Now

 

Healthcare, Biotechnology, & Pharmaceutical Portfolio of Best Stocks to Buy Today

 

Software, Information Technology & Semiconductor Investing Stock Market Portfolio

 

Investing Profits Pros, Unique Do It Yourself Investment Ideas for Everyone!

 

All Wealth, Stock Market & Real Estate Master Classes 


Risk Management, Annuities & Insurance Ideas including Whole Life Insurance

 

Residential & Commercial Real Estate Agent Expertise

 

Fee - Based Private Wealth Management for Individuals, Families and Businesses

 

Start Your Custom Financial Plan Today!

 

How to Save Money for Retirement Planning, Compute the Proper Retirement Age & More BLOG - Financial Plans Information 

 

The Best Stocks to Buy Right Now in the Stock Market & Cryptocurrency BLOG - Investing ProfitsPros

 

Work at Home Jobs for Moms, How to Make Money Online & Investing in Real Estate BLOG - My Best Lifestyle Experts

 

Growth Mindset & More on the Stock Market & How to Make Money Online BLOG - Success Striver

 

Qualified Tax Planning

 

Investments, Wealth and Financial Planning Resources 

 

 

 

About

Lifestyle Experts and Financial Planners, $1mil + by 30, Trailblazer of Minorities & Women in Real Estate & Investing in the Stock Market. Mompreneur. Dadpreneur. Private wealth meets your favorite motivational speaker with actionable items you can make money online from efficiently! I look forward to connecting with more badass women and men, ;) to your your best life with us as your leaders to which are the best stocks to buy right now, Lea, Marc & Team

 

Customer Service Center

Contact Your Boracchia Wiviott Wealth Partners

M – F | 9 AM – 5 PM PST

Team@MyBestLifestyle.Pro

 

Within the United States: (424) 625 - 8943                

                                              

If you are outside of the U.S. please dial +001 (424) 625 - 8943  



Policies

Terms of Use

 

Accessibility Policy

 

Disclosure Policy

 

Privacy Policy

 

Affiliate Program - We have one,  it is run through Kartra! Please join others in helping build wealth for you & your community. If it's easier, please email Team@MyBestLifestyle.Pro and we'll send you the link, we look forward to hearing from you! Thanks!

Boracchia Wiviott Wealth Partners LLC, your best Financial Advisors!!