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Financial advising
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Financial advising

What is financial advisory? Click to read

Financial advisory services are provided by a team of qualified professionals that provide advice on how to manage money and assets efficiently. Financial advisory services can include a whole range of individuals such as certified financial planners, wealth managers, investment advisors, and certified public accountants.

Specialised companies usually offer different types of advisory services:

  • Investment management
  • Risk management
  • Retirement planning
  • Estate planning
  • Financial planning


What is the role of a financial advisor and why you need one? Click to read

  • A financial advisor provides financial advice or guidance to customers for compensation.
  • A financial advisor can be a useful profile to contact in case you need advice about how to reach your financial goals, or simply need support to manage your finances. 
  • An advisor can also inform about financial products, tax advantages, and insurance options.
  • When looking for an advisor, it is important to make sure that he/she carries certified licences to conduct business with the public. Check for information about licences and certifications in your country!
Financial advisors vs Financial planners Click to read

  • The role of a financial planner is slightly different from the one of the financial advisor.
  • The financial planner is one particular type of financial advisor who specializes in helping companies and individuals create a program to meet long-term financial goals (Investopedia).

The main areas of expertise of a financial planner are: retirement, allocations, investments, estate planning and taxes. Also in this case, you should check that the planner has the right certifications.

Types of Financial advisors Click to read

There are 2 main kinds of financial advisors:

  • independent financial advisors give unbiased advice about the whole range of financial products from all the different companies available;
  • restricted advisors give advice on a limited range of products. They may specialise in one area, for example pensions, or they may only offer advice on products offered by a limited number of companies (Citizens Advice).
Getting the right advice Click to read

Tips to understand if the services that the advisor recommends you are suitable for you:

  • First think about your resources and then choose the product that is affordable for you.
  • Take account of whether you want to save for the long or short term; planning in advance helps you to have realistic objectives.
  • You should think about the risks linked to the financial operation you are going to choose, if you will be able to overcome them.
  • Take account of whether you pay tax.