{"id":522,"date":"2014-11-13T00:00:14","date_gmt":"2014-11-13T08:00:14","guid":{"rendered":"http:\/\/staging-prblog.paladinregistry.com\/blog\/?p=522"},"modified":"2014-11-13T08:35:23","modified_gmt":"2014-11-13T16:35:23","slug":"are-financial-planners-also-financial-advisors-updated-nov-2014","status":"publish","type":"post","link":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/","title":{"rendered":"Are Financial Planners also Financial Advisors? &#8211; updated Nov 2014"},"content":{"rendered":"<p><a href=\"http:\/\/blog.paladinregistry.com\/wp-content\/uploads\/2013\/03\/financial-planners.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"174\" class=\"alignleft size-medium wp-image-5035\" src=\"http:\/\/blog.paladinregistry.com\/wp-content\/uploads\/2013\/03\/financial-planners-300x174.jpg\" alt=\"financial planning\" srcset=\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners-300x174.jpg 300w, https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners.jpg 620w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"http:\/\/blog.paladinregistry.com\/advisors-2\/why-select-a-certified-financial-planner\/\" target=\"_blank\">Financial planners provide various types of planning services <\/a>(personal, college, retirement, estate, charitable). The combination of services varies by financial planner expertise.<\/p>\n<p>Financial advisors are focused on investment services such as strategy, asset allocation, manager selection and performance measurement. Or, the financial advisor is actually a money manager because he makes investment decisions for clients without their approval in advance.<\/p>\n<p><strong>Planning Services<\/strong><strong>\u00a0<\/strong><\/p>\n<p>Planning is an essential financial service because it is provides a roadmap for your financial future. Once you have a plan it should be updated annually for any changes that impact the achievement of your financial goals.<\/p>\n<p><strong>Investment Services<\/strong><\/p>\n<p>Most investment plans are built around two core concepts: Accumulate money during your working years and preserve money during your retirement years. This means you need investment advice that will help you accomplish both goals while minimizing your exposure to risk and expenses that are deducted from your accounts.<\/p>\n<p><strong>Overlap<\/strong><\/p>\n<p>Financial planners may also provide investment advisory services and <a href=\"http:\/\/blog.paladinregistry.com\/advisors-2\/5-tips-help-you-select-the-best-investment-advisors\/\" target=\"_blank\">investment advisors may also provide planning services<\/a> for three reasons:<\/p>\n<ul>\n<li>They want to provide an integrated package of services to their clients<\/li>\n<li>They want to control as many revenue streams as possible<\/li>\n<li>They want to keep competitors away from their clients<\/li>\n<\/ul>\n<p>Note, only one of the reasons benefits you and it creates a new form of risk. The financial planner or financial advisor may be offering a package of services to protect his interests, but he is not an expert in all of the disciplines. Therefore, you may be impacted by bad advice.<\/p>\n<p><strong>Maximum Revenue<\/strong><\/p>\n<p>Most financial planners and financial advisors want to control as many revenue streams as possible. It is time-consuming and expensive to win new clients so maximizing revenue per client makes sense if you are an advisor. However, it is a major source of risk if you are an investor. The advisor makes a great pitch to control all of the revenue streams and you buy the pitch because you like the advisor. What\u2019s the risk? The advisor provides good advice in one discipline and bad advice in another. And, you act on the bad advice because you do not know the difference between good financial advice and bad advice.<\/p>\n<p><strong>Insurance Services<\/strong><\/p>\n<p>Financial planners and investment advisors <a href=\"http:\/\/www.paladinregistry.com\/resources\/facts\/financial-advisor-licenses\" target=\"_blank\">can hold insurance licenses <\/a>that permit them to sell fixed and variable insurance products. The licenses are popular with planners and advisors because the sale of insurance products generates the biggest commissions in the financial service industry.<\/p>\n<p>Planners and advisors ask one simple question that works 90% of the time: \u201cDo you want me to handle your insurance requirements or do you want me to refer you to an insurance that I think is reliable.\u201d It makes sense to leave insurance with the planners and advisors because they know what you need.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial planners provide various types of planning services (personal, college, retirement, estate, charitable). The combination of services varies by financial planner expertise. Financial advisors are focused on investment services such as strategy, asset allocation, manager selection and performance measurement. Or, the financial advisor is actually a money manager because he makes investment decisions for clients without their approval in advance. Planning Services\u00a0 Planning is an essential financial service because it<\/p>\n","protected":false},"author":2,"featured_media":5035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[325],"tags":[],"class_list":["post-522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advisors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are Financial Planners also Financial Advisors?<\/title>\n<meta name=\"description\" content=\"Most financial planners and financial advisors want to control as many revenue streams as possible. It can be a major source of risk if you are an investor.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are Financial Planners also Financial Advisors?\" \/>\n<meta property=\"og:description\" content=\"Most financial planners and financial advisors want to control as many revenue streams as possible. It can be a major source of risk if you are an investor.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/\" \/>\n<meta property=\"og:site_name\" content=\"Paladin Registry Blog\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/PaladinRegistry\" \/>\n<meta property=\"article:published_time\" content=\"2014-11-13T08:00:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-11-13T16:35:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jack Waymire\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@PaladinRegistry\" \/>\n<meta name=\"twitter:site\" content=\"@PaladinRegistry\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jack Waymire\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/\",\"name\":\"Are Financial Planners also Financial Advisors?\",\"isPartOf\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners.jpg\",\"datePublished\":\"2014-11-13T08:00:14+00:00\",\"dateModified\":\"2014-11-13T16:35:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0\"},\"description\":\"Most financial planners and financial advisors want to control as many revenue streams as possible. It can be a major source of risk if you are an investor.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#primaryimage\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners.jpg\",\"contentUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners.jpg\",\"width\":620,\"height\":360},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.paladinregistry.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Advisors\",\"item\":\"https:\/\/www.paladinregistry.com\/blog\/category\/advisors\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Are Financial Planners also Financial Advisors? &#8211; updated Nov 2014\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#website\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/\",\"name\":\"Paladin Registry Blog\",\"description\":\"Helping You Make Better Financial Decisions\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.paladinregistry.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0\",\"name\":\"Jack Waymire\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png\",\"contentUrl\":\"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png\",\"caption\":\"Jack Waymire\"},\"description\":\"Jack Waymire worked in the financial services industry for 28 years before he left to found the Paladin Registry (www.PaladinRegistry.com) in 2004. This investor education website was based on the Principles in Jack\u2019s first book: \\\"Who\u2019s Watching Your Money?\u00a0The 17 Paladin Principles for Selecting a Financial Advisor.\\\" Jack is also the co-author of \\\"5 Steps for Selecting the Best Financial Advisor (How the Internet has changed the game for investors and advisors)\\\". Beginning in 2004,\u00a0Paladin began vetting and documenting advisor credentials, ethics, business practices and services for investors. The Registry also has a free service that matches investors to advisors who meet Paladin\u2019s minimum requirements for competence and trustworthiness.\",\"sameAs\":[\"https:\/\/www.paladinregistry.com\",\"https:\/\/www.facebook.com\/PaladinRegistry\",\"http:\/\/www.linkedin.com\/in\/jackwaymire\",\"https:\/\/x.com\/PaladinRegistry\"],\"url\":\"https:\/\/www.paladinregistry.com\/blog\/author\/jack-waymire\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Are Financial Planners also Financial Advisors?","description":"Most financial planners and financial advisors want to control as many revenue streams as possible. It can be a major source of risk if you are an investor.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/","og_locale":"en_US","og_type":"article","og_title":"Are Financial Planners also Financial Advisors?","og_description":"Most financial planners and financial advisors want to control as many revenue streams as possible. It can be a major source of risk if you are an investor.","og_url":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/","og_site_name":"Paladin Registry Blog","article_author":"https:\/\/www.facebook.com\/PaladinRegistry","article_published_time":"2014-11-13T08:00:14+00:00","article_modified_time":"2014-11-13T16:35:23+00:00","og_image":[{"width":620,"height":360,"url":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners.jpg","type":"image\/jpeg"}],"author":"Jack Waymire","twitter_card":"summary_large_image","twitter_creator":"@PaladinRegistry","twitter_site":"@PaladinRegistry","twitter_misc":{"Written by":"Jack Waymire","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/","url":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/","name":"Are Financial Planners also Financial Advisors?","isPartOf":{"@id":"https:\/\/www.paladinregistry.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#primaryimage"},"image":{"@id":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#primaryimage"},"thumbnailUrl":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners.jpg","datePublished":"2014-11-13T08:00:14+00:00","dateModified":"2014-11-13T16:35:23+00:00","author":{"@id":"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0"},"description":"Most financial planners and financial advisors want to control as many revenue streams as possible. It can be a major source of risk if you are an investor.","breadcrumb":{"@id":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#primaryimage","url":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners.jpg","contentUrl":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2013\/03\/financial-planners.jpg","width":620,"height":360},{"@type":"BreadcrumbList","@id":"https:\/\/www.paladinregistry.com\/blog\/advisors\/are-financial-planners-also-financial-advisors-updated-nov-2014\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.paladinregistry.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Advisors","item":"https:\/\/www.paladinregistry.com\/blog\/category\/advisors\/"},{"@type":"ListItem","position":3,"name":"Are Financial Planners also Financial Advisors? &#8211; updated Nov 2014"}]},{"@type":"WebSite","@id":"https:\/\/www.paladinregistry.com\/blog\/#website","url":"https:\/\/www.paladinregistry.com\/blog\/","name":"Paladin Registry Blog","description":"Helping You Make Better Financial Decisions","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.paladinregistry.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/4f94af521e23212d5ffd08618ecb46c0","name":"Jack Waymire","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.paladinregistry.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png","contentUrl":"https:\/\/www.paladinregistry.com\/blog\/wp-content\/uploads\/2017\/05\/Screen-Shot-2017-05-16-at-8.06.55-AM-96x96.png","caption":"Jack Waymire"},"description":"Jack Waymire worked in the financial services industry for 28 years before he left to found the Paladin Registry (www.PaladinRegistry.com) in 2004. This investor education website was based on the Principles in Jack\u2019s first book: \"Who\u2019s Watching Your Money?\u00a0The 17 Paladin Principles for Selecting a Financial Advisor.\" Jack is also the co-author of \"5 Steps for Selecting the Best Financial Advisor (How the Internet has changed the game for investors and advisors)\". Beginning in 2004,\u00a0Paladin began vetting and documenting advisor credentials, ethics, business practices and services for investors. The Registry also has a free service that matches investors to advisors who meet Paladin\u2019s minimum requirements for competence and trustworthiness.","sameAs":["https:\/\/www.paladinregistry.com","https:\/\/www.facebook.com\/PaladinRegistry","http:\/\/www.linkedin.com\/in\/jackwaymire","https:\/\/x.com\/PaladinRegistry"],"url":"https:\/\/www.paladinregistry.com\/blog\/author\/jack-waymire\/"}]}},"_links":{"self":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts\/522"}],"collection":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/comments?post=522"}],"version-history":[{"count":8,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts\/522\/revisions"}],"predecessor-version":[{"id":5281,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/posts\/522\/revisions\/5281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/media\/5035"}],"wp:attachment":[{"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/media?parent=522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/categories?post=522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paladinregistry.com\/blog\/wp-json\/wp\/v2\/tags?post=522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}