The definition of an advisor

A financial advisor is a general term that can be applied to anybody who helps you manage your money. This could include an employee of your financial institution, an investment advisor or an insurance agent.

Financial Coach

Money coaches are financial professionals who offer objective financial advice without selling financial products.

They typically are able to address a variety of financial challenges and questions, ranging from budgeting and debt management, to retirement planning and investment education. Money Coaches provide strong accountability and motivation for those looking to take control of their personal finances.

Financial Planner

A financial planner works with you to create a financial plan in order to reach your goals. They may advise you on financial planning, risk management, investment planning, tax planning, retirement planning and estate planning.

Financial planners can be paid in different ways. Be sure to ask your planner how they’re paid.

Insurance Advisor

Insurance advisors are trained and licensed to provide advice about and sell insurance. Some specialize in certain products, such as property or life insurance.

Some insurance advisors may also be registered to sell investments and are generally paid by the companies whose products they sell.

Investment Advisor

This is an adviser who manages your investments for you and can provide investment advice on any type of security. They work for firms that are typically registered as portfolio managers. These firms can be independent or owned by banks. Investment advisors/firms may charge a flat fee for their services or an annual fee based on the size of your portfolio.

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