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

What is the difference between a financial advisor and a financial broker Introduction: Navigating the Financial Landscape Hello everyone! When it comes to managing our finances, we often seek professional guidance. In this quest, we come across terms like 'financial advisor' and 'financial broker.' But what do these roles entail? Let's dive in! Defining the Roles: Financial Advisor A financial advisor is a professional who provides comprehensive financial guidance. They assess your financial situation, goals, and risk tolerance to create a personalized plan. This plan covers various aspects like investments, retirement, insurance, and tax strategies. Advisors often have certifications like CFP (Certified Financial Planner) or ChFC (Chartered Financial Consultant). Their services can be fee-based, commission-based, or a combination. Defining the Roles: Financial Broker On the other hand, a financial broker, also known as a stockbroker or investment broker, primarily focuses on executing trades in the financial markets. They act as intermediaries, connecting buyers and sellers of securities.