Financial consultants

Financial consultants work with their clients to better understand their assets and what they want those assets to do for them in the future. For example, if a client wants to save for retirement, but isn’t sure how, a financial consultant can recommend the type of retirement account to use, suggest specific investments and answer questions about how much to save.

Depending on their training, background and certification level, financial consultants may be able to assist clients with more specialized needs like tax preparation and insurance.

The terms “financial consultant” and “financial advisor” are often used interchangeably, but some financial consultants hold a designation called chartered financial consultant, or ChFC. ChFCs may offer more specialized financial planning than other financial advisors, such as business or divorce planning. To be clear, not all professionals who call themselves financial consultants hold a ChFC. Always ask any potential financial advisor about the specific certificates they hold.

Financial consultant do
Financial consultants look at the whole picture of a client’s financial life, including debts, assets, expenses and income, to help clients determine what those goals should be. Financial consultants who have the proper licenses may also manage their client's investments.

The kinds of services you receive from a financial consultant will also depend on the type of consultant you work with.

They may include:
- Estate planning.
- Tax planning and tax strategy.
- Gifts and inheritances.
- Retirement planning.
- Business and financial strategy.