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What is the difference between financial planning and financial advice?
Finance

What is the difference between financial planning and financial advice?

Introduction At the heart of financial advice is a product or service. It is generally centred around the product, and may be for a specific purpose such as making a will or buying insurance. Advice can also relate to investments like shares or bonds and often includes various products that have been preselected by an adviser. Read Also: Making Payments To Synchrony Bank Financial planning focuses on helping you achieve your goals and meet your objectives, which may involve spending less than you earn but could also include saving for something specific like your children’s education or retirement. Your adviser will take time to understand what is most important and help you create strategies to achieve those objectives in order to give them peace of mind while they plan their fi...