Read all our latest articles


Financial Planner or Financial Advisor. What’s the difference?

Category: Blog
Financial planner or financial advisers, what is the difference.

Planning on some financial advice?

The difference between Financial Advising and Financial Planning

We’ll be honest, as an industry known for juggling jargon and technical terms, we know we don’t always make it easy.

But it’s important you get the most out of your financial partner. This means being really clear about what services are available and who can deliver what. So in an attempt to ditch the jargon and get totally transparent, here’s what you should know.

Financial Planning and Financial Advice are two separate but complementary services. They require different skill sets and qualifications but can be delivered by the same person.

In other words, some Financial Planners are qualified to give Financial Advice and some Financial Advisers also offer Financial Planning. And both are important. Here’s why…

What’s the plan?  Financial Planning

Got a plan? What are you planning? What’s the plan? Throw away things we say all the time. But when it comes to finances, many live in the here and now. And not everyone is a natural planner.

When it comes to your financial future though, Financial Planning can really help you get clear on your goals.

Think of Financial Planning as the design phase for your desired lifestyle. Financial Planning helps you work out what you need,in order to achieve what you want. It’s the plan that supports the goal. The ‘how’ that delivers the ‘what’.

Financial Planning is all about the bigger picture (although your Financial Planner will go to great lengths to understand the specifics).

They’ll help you explore your current financial position by taking a detailed look at your income, expenditure, assets and commitments. Then they’ll look at what you want to achieve and how much you need to get there. So that you feel in control of your finances.

Your Planner may also talk to you about what ‘enough’ looks like. They’ll do cash-flow modelling to help you to visualise different scenarios and outcomes so you can work out what’s important.

Ultimately, Financial Planning is all about you.

Finally, and the clue is in the title, your Financial Planner will create your personal financial plan. Whether your goals are to secure comfort in retirement or ensure the smooth transfer of your wealth, this blueprint shows you how best to meet your objectives.

We advise you to read this… Financial Advice

Whereas Financial Planning is about you and your goals, Financial Advice, on the other hand, is all about your money (your financial products, policies and services).

In an ideal world, Financial Advice is based on a solid financial protection plan. After all, you can’t build a house without detailed floor plans.

The planning stage helps you design the lifestyle you’d love and work out what you need to do to achieve it, and your Adviser can then help you make that happen.

Your Financial Adviser will carry out a detailed analysis of any existing products and services and make recommendations to deliver your financial plan and goals.

They will research and analyse your circumstances, policies, savings and investments and advise how to maximise and optimise your finances. So you stand the best chance of achieving the results you need.

It is true that Financial Advisers can advise you on stand-alone financial products and services in order to find better solutions to a given problem. For example, improving investment returns, reducing costs, or making something more tax-efficient.

Although at Hartsfield, we prefer to have a more meaningful relationship with our clients so that we can put this advice into the context of what matters most. This is where financial planning comes in and why it’s so important.

Financial Planning and Financial Advice are fundamentally different, they complement each other perfectly when it comes to delivering what matters most.

So, if you’d like to get clarity about your financial future or you think you may need financial advice, Hartsfield Financial Services can help.

Book a free financial consultation today.

Get in touch

Ready to take the next step towards your financial goals? Call or email your local office to book a free financial consultation. Better still, pop in and see us. And if you’re short on time, just leave us a message here and we’ll call you.

Bristol Office

Cheltenham Office

Wiltshire Office