Financial Adviser vs Financial Planner: What’s the difference and which is best for you?

It’s a situation many people will recognise: you decide to take a more proactive approach to managing your finances, and for a while, you may even manage comfortably on your own. Eventually, however, you realise your money could be working harder for you, prompting you to seek professional guidance. So, you begin your search for a financial planner… or is it a financial adviser you need? Or could it be an “advisor” with an ”o”? What seems like a straightforward question can quickly become surprisingly confusing. Let’s clarify, once and for all, the difference between a financial planner and a financial adviser.

What is a financial adviser?

A financial adviser is a broad term for professionals who help manage your money: providing advice on investments, pensions, savings, specialist insurance, mortgages, and other product-based solutions. Their focus can be transactional or product-led, and their relationship with clients may be short-term once the appropriate product is sourced.

Financial advisers must be authorised by the Financial Conduct Authority (FCA). They’re trained to assess your situation, understand your goals, and recommend suitable products from either the whole market or a restricted panel, depending on their authorisation.

A note on spelling: “adviser” with an “e” is generally preferred in British English, especially in formal writing while “advisor” with an “o” is more common in US English. While some countries lay out legal distinction on spelling, here in the UK, it has been recognised that both spellings are understood to mean the same.

What is a financial planner?

A financial planner takes a more holistic, long-term approach to your finances, looking at the “big picture” and designing a plan to help you achieve your life and financial goals.  A financial planner will consider any goals or plans that you have for both your finances and your life in relation to your current situation, and help lay out a road map of how to get there. Many clients work with a financial planner to create a structured plan to:

• Build wealth over time
• Save for retirement
• Provide security and pass on assets to future generations
• Fund education or major life events

Their strategy may involve advising you on suitable financial products, as a way of executing a broader plan, incorporating investments, pensions, estate planning, protection, and more.

Planners typically work in long-term partnerships, reviewing your plan regularly, collaborating with other professionals (e.g., tax advisers, solicitors), and adjusting as your circumstances evolve.

Which one is for me?

Use a financial adviser if you're looking for help with:

• A short-term situation – like investing a lump sum, setting up a pension, or arranging insurance
• Urgent or narrow financial needs – e.g., marriage/divorce, inheritance, debt, or quick reviews
• Complex financial products – if you need help understanding or sourcing insurance, mortgages, or savings plans

Opt for a financial planner if you:

• Want a holistic, long-term strategy – e.g., retirement planning, buying a home, starting a family, or career changes
• Are managing complex finances – such as multiple investments, tax planning, business transitions, or estate planning
• Need ongoing support and reviews – regular check-ins to align your plan with life changes and ambitions

Many people think they want a financial adviser, or might begin their financial journey with one, but often people decide that what they truly need is a financial planner. You're rarely investing simply for the sake of it – and a planner helps you connect financial decisions back to your life goals.

Making the right choice now – between an adviser or planner – can set you on a confident, clear path to your financial future.

If you would like to work with an expert, regulated, collaborative financial planner, we are happy to offer an initial no-obligation consultation – call 01732 449 799 to book your appointment.

Based in Tonbridge and West Sussex, Amanda Redman Financial Planning supports clients across Kent, Sussex, Surrey and Greater London.

Your home may be repossessed if you do not keep up repayments on your mortgage.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

Clicking a link will open a new window. Any external sites are not endorsed by St. James's Place.