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Do You Need A Financial Advisor?

Is There A Difference Between A Financial Planner And A Financial Advisor?

The difference between a financial planner and a financial advisor is that the former is typically an industry specific planner (such as someone who deals in financial planning after divorce or separation) who also does wealth management whereas the latter is usually qualified to offer advice on investments, retirement planning including pension plans and savings, taxation planning, mortgages and insurance.


A financial planner may specialize in one of the following:

  • Investments;
  • Taxes;
  • Retirement; and/or
  • estate planning.

A financial advisor is an expert advisor who offers professional expertise on a variety of issues related to your finances and investing. A financial advisor can help manage your investments by analyzing your portfolio, providing recommendations, and implementing strategies for growth. They might also help you invest money, implement tax reduction strategies, develop a comprehensive estate plan or help with individual retirement accounts.


After Divorce – Could A Financial Advisor Be Beneficial?

A divorce can lead to a whole host of new questions and dilemmas for both spouses. One of the most common topics of discussion when going through a divorce is keeping up with family finances. There are often concerns about the level of income required to maintain an acceptable standard of living for their children, and still have enough available to invest in the future. This can often be difficult after divorce due to most investments being jointly held assets.


A good financial adviser with a proven track record of success can be an important ally when going through a divorce. By utilizing a professional to help negotiate the waters of divorce, you can be assured that some of the details involved are handled properly and in your best interest.


A good adviser will be very familiar with this process and will know how to guide you through it all.


Financial Tax Planning – The Benefits Of Using A Professional

Tax planning is a huge part of managing your own finances, and even bigger for running your own business. While it is possible to handle the task yourself, this will be overwhelming to many, especially if you have already set your mind on achieving a different goal. A professional tax planner can take away the burden of dealing with CRA (Canada Revenue Agency) paperwork and will know how to invest your money in the right way to gain the most profit.


Tax planning is a serious matter and should be part of your overall financial strategy. It is important to have expert advice to assist you. If you are unsure about what steps you need to take, it is best to seek advice from a tax planner. A tax preparation or tax planning service professional can provide you with information that will help boost your income and increase your savings, allowing you to pay less in taxes and create an even more secure financial future.


Understand Why You Need A Financial Planner And When You Actually Do.

Many people claim they don’t need a financial advisor. They can do it on their own. The thing is, it’s not as easy as it sounds. There’s more to money than just making sure you have plenty to spend. There are precautions to take, things that can go wrong or might be holding you back from growing your wealth and achieving your goals.