A fiduciary must put your best interest above their own. A financial advisor who's a fiduciary has an ethical duty to recommend the best investments for you.

What is a financial planner?

A financial planner takes inventory of your finances, then creates a plan to help you reach your goals. Some financial planners also provide investment management.

What is a robo-advisor?

These online services make it easier to get started planning for your financial goals by providing investment help at low cost and with low or no account minimums.

What is investment management?

Investment management is the process of building a portfolio of stocks, bonds and other investments based on your goals. You can hire an investment management service, or manage your own portfolio.

Financial Planning

Q: Advisor vs. adviser: Is there a difference?

Both "advisor" and "adviser" are accepted spellings for someone who offers advice, like a financial advisor.

A financial plan is a wealth-building roadmap that helps you achieve goals. Compare advisors to find the right one.

The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Getting started with financial planning

What is a financial advisor and what do they do?

A financial advisor offers assistance with managing your finances. The catch-all term "financial advisor" is used to describe a wide variety of people and services.

What is a financial plan?

A financial plan is a roadmap that helps you achieve your goals. Financial planning can be done on your own or with a professional.

What is wealth management?

Private wealth management firms offer investment management and comprehensive financial advice aimed at high-net-worth individuals with complex financial issues.

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How to find the right financial advisor

Finding the right financial advisor can be challenging, especially if you don't know what to look for. In this video, we discuss what financial advisors do, typical costs and fee structures, and ideas for vetting financial advisors.