The Difference Between A Financial Advisor And A Financial Planner In Mississauga

We often use the terms financial advisor and financial planner interchangeably; however, there are distinct differences between these two natures of professionals. It would be wise to know the difference between them before you hire a financial planner in Mississauga.

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Who is a financial advisor? 

A financial advisor is one who has passed the licensure and certification exams which is necessary to offer guidance about investment and financial matters. They can help you with various monetary decisions, like saving for retirement, purchasing a house or investing funds in a business. They may also help you to have insurance coverage and help you to have the best strategy for estate planning.

Who is a financial planner? 

A financial planner is a distinct type of financial professional who has access to advanced knowledge and tools to develop customized financial plans for you. Their services can include various aspects like saving for retirement or arranging late-life planning to planning on asset transfers.

The key differences between a financial advisor and a planner

Both the financial planner and advisor will work by providing pertinent advice, there are some key differences between them. A financial advisor may help you for a long period while some may offer help for certain transactions or investments.

Financial planners will adopt a much more holistic approach toward your finances and advance long-term plans that will address every aspect of your financial life. It is necessary to visit them each year to have better investments and adjust strategies as there are updates in the plans.

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Another key difference is in the nature of the certification they have. They may be having the same nature of licenses; however, there is a difference in certifications.

When to approach a financial planner and when to be with an advisor

Now the question arises when to be with whom. If you require financial assistance, both a planner and an advisor can help. However, your options depend on the circumstances you are in.

If you are in a position where you need short-term help or require assistance with a specific issue it would be ideal to be with a financial advisor. However, if you desire to develop a comprehensive long-term plan a financial planner can offer better help.

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How might a financial planner help you?

A financial planner in Mississauga can help you in various aspects. Let us have a look at some of those.

  • He can help you to develop a long-term financial plan
  • If you desire to know how your finances are going to evolve with time, it is wise to be with a planner.
  • If you are facing a major life change, like marriage or having a baby, a planner can help you with your finances.
  • If you are on the verge of retiring and need to assure that you have saved enough, it is wise to be with a financial planner.
  • If you desire to have help managing debt, saving for college or developing a budget, it is wise to have help from a financial planner.
  • If you desire to plan asset transfers you need to have assistance from financial planners.

It is wise to be with Haunn Landers & Co. if you desire to have professional services from a financial planner in Mississauga. You can contact them at their toll-free number 1-877-523-4437.

Disclaimer

This content is created and provided by a third-party online content writer on behalf of Haunn Landers & Co. and is for promotional purposes only. Haunn Landers & Co. does not take any responsibility for the accuracy of this article.

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