The terms “financial advisor, investment advisor, and financial planner" are often used interchangeably so yeah that is confusing. (I actually wrote a more detailed post about this on my substack some of which is copied below)

The term "financial advisor" itself is largely unregulated. Anyone can essentially call themselves a "financial advisor" without needing to meet specific educational, ethical, or licensing requirements tied directly to that title. However, the activity of giving investment advice is indeed regulated. Essentially, if someone wants to legally give investment advice in the US, they need to be registered with either the Securities and Exchange Commission (SEC) or a relevant state securities regulator.

Unfortunately, the term Financial Planner is also not regulated, but I call myself a Financial Planner because I have met the requirements to become a CERTIFIED FINANCIAL PLANNER® professional and that’s more important.

The CFP® mark is arguably the most widely recognized and respected designation for financial planning. It signifies expertise in comprehensive financial planning, covering many areas like cash flow, investments, retirement planning, insurance, tax planning, estate planning, and (more recently) behavioral finance - to name a few. Being a CFP® professional means that I am a fiduciary who is legally obligated to act in my client’s best interest. (I wish this was a given across the industry but it’s not).

The reason I call myself a “financial planner” is because that most accurately describes what I do. I do give investment advice, but I also ask questions, listen, reflect, encourage, console, and yes, do a whole lot of planning.

I hate to give this answer but alas, it depends! People come to work with financial planners for many reasons and across a lot of different stages in life. Here are some common reasons:

• There is some event that sparks some sort of financial question or crossroads: a new job, a marriage, buying a home, starting a business, an inheritance etc. and it can be really helpful to hire someone who can assure you that you’re making the right choices that work best for you (and future you!)

• Money is stressing you out (or just makes you feel tense, avoidant, nauseous, neurotic, insert your word of choice here) then working with an advisor may help reduce some of those feelings and bring you some peace of mind. 

• You want a second opinion - am I making the right choices for me? Am I going to be okay? Am I saving enough? 

• Some couples like having a third person to help navigate hard money conversations and help get on the same page! 

Regardless of the reason there are many ways to work with a financial planner but if my services and model aren’t the right fit for you, I will do my best to find you another option and point you in the right direction. My larger hope for the financial planning industry is that more and more people have positive financial planning experiences with advisors even if that’s not with me! 

I believe that financial planning is an ongoing relational process, not a product. I customize that process so that it works for you. That said, when working on an initial comprehensive plan, all information I present to you (usually a deck) is sent to you afterwards as well as any checklists, templates, or action items. I also spend time helping you execute tasks (screensharing or making calls together) because it’s so much easier to actually get sh*t done that way. #BodyDoubling

I’m working on a blog post that goes through in detail a sample initial plan so keep your eye out for that. In the meantime, I am always happy to share relevant samples of what that looks like. If you’re interested in that please feel free to schedule a call here!

Yes and because there’s a lot of financial professionals who make a lot of money pushing products that aren’t actually a good fit for you.

A fiduciary is someone who is legally required to act in your best interests and I fully believe that’s the bare minimum. 

I am also a “fee-only” advisor which means I only get paid by my clients and don’t accept commissions.

All CFP® Professionals are required to act as fiduciaries so I recommend looking for that designation plus fee-only if you are speaking with other people.

While your life is full of creativity and adventure, your investment strategy shouldn’t be. I believe in using low-cost index funds that give you a slice of the entire market. It’s a strategy designed to let your money grow steadily over the long haul, without the stress of trying to outsmart anyone.

If you're looking for complicated strategies or want to actively trade stocks, we likely won't be a great fit. My job is to make this part of your life less complex so you have more energy to focus on the things you actually love.

Great question! Not only will I help create an allocation that’s appropriate for you but I will also help figure out an overall investment strategy that works for you. For the most part, it completely depends on how hands on or off you want to be. Have a robo-advisor you are happy with? Great, I’ll still take a look and make sure it’s in alignment with the big picture. Starting from scratch and want to DIY? Great! I’ll provide you with a target allocation and portfolio and help set up an ongoing strategy for you to self-manage your investments.

For those wanting more support, I am always happy to screenshare and walk through the steps and offer both one time and ongoing support.

You can totally do that and in fact, that’s my preferred way to work. If you’d like (or need ongoing) support we’ll talk about what that looks like after the initial plan is complete. Generally ongoing support costs less than the initial plan.

AdviceOnly is a super cool group of humans! It’s also what’s called a Corporate Registered Investment Advisor (RIA). A corporate RIA is a firm that provides a regulatory and operational framework for independent financial advisors like me! In essence, I operate my own practice under the legal umbrella of AdviceOnly. This arrangement allows me to focus on serving clients without the significant administrative and compliance burdens of establishing and maintaining my own separate RIA firm.