What is the difference between a financial planner and a financial advisor?

Some people use the terms “financial planner” and “financial advisor” interchangeably to describe professionals who help people manage their finances. But there are some differences. 

“Financial advisor” is a more broad, general term than “financial planner,” according to Investopedia.  Financial planners create plans to help you meet your long-term goals, and financial advisors help manage your finances, investments and/or accounts. You can consider a financial planner as a type of financial advisor.

You should always research a potential financial planner or advisor before you hire them. Get details on their areas of expertise, credentials, certifications, education, fees and more to ensure you're hiring the best professional for your needs.