Differentiate the roles of the financial counsellor and the financial planner.

Question

Question

Differentiate the roles of the financial counsellor and the financial planner.

Answer 1

Answer #1

Financial counsellor:

Generally, acts as a financial mentor to clients.

Provides counseling services to low-income people.

Helps in maximizing tax benefits and get tax refunds.

Financial planner:

Helps in planning for financial goals such as retirement, buying a house, higher education, etc.

Helps in comparing the various investment products to achieve goals.

Helps in lowering tax liability.

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Answer 2

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