Planner or adviser? Why retirement demands careful planning

A more planning-oriented approach demonstrates the value of advice

clock • 4 min read

Richard Parkin looks at the differentiation between planners and advisers through the lens of retirement...

NextWealth's recent Financial Advice Business Benchmarks Report looks at the distinction between financial advisers and financial planners, asking respondents to identify whether they call their people advisers or planners. In the report, planners are defined as those that take a more holistic view of the client's financial and life objectives, compared to advisers who provide advice on a specific product or need. It found that firms that call their people ‘planners' advise clients with higher average portfolio values, more than double that of advisers, and are also able to command a fee...

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