The Difference Between a Financial Advisor and Financial Planner - Money Tip Tuesday

<p style="text-align:left;">It’s quite common to use the terms financial advisor and financial planner interchangeably, but did you know that there are differences between the two? Both can guide you on your financial journey, but there are some key differences between them. </p> <p style="text-align:left;">If you’re looking for someone to take a look at your finances, but are not sure if you want a financial advisor or a financial planner, here’s what you need to know. </p> <p style="text-align:left;">Links:</p> <ul style="text-align:left;"><li>Learn more about Triangle's <a href='https://www.trianglefinancialgroup.com/'>wealth management services</a></li> <li>Follow our <a href='https://www.facebook.com/pg/MakingMoneyPersonalPodcast/posts/?ref=page_internal'>Facebook</a>, <a href='https://www.instagram.com/makingmoneypersonal/'>Instagram</a> and <a href='https://twitter.com/TCUpodcastMMP'>Twitter</a> pages!</li> <li>Learn more about <a href='https://www.trianglecu.org/home/home'>Triangle Credit Union</a></li> </ul> <p style="text-align:left;">Transcript: </p> <p style="text-align:left;">Welcome to Money Tip Tuesday from the Making Money Personal podcast. </p> <p style="text-align:left;">First, let’s take a look at what a financial advisor is and what a financial planner is. A financial advisor usually helps clients with one-off investment planning and other financial matters. They evaluate your financial situation, where you want to be in the future, and give advice to help you build wealth. Financial advisors are usually required to have passed licensure and certification exams to give advice. Financial advisors usually charge an annual fee for their services which can range from 0.5% to 1% of your assets that they manage. Some financial advisors may also charge commissions on products they sell, like mutual funds or annuities.  These commissions can be as high as 6%. </p> <p style="text-align:left;">A financial planner typically creates a holistic plan that will help you and your finances in the future. They