Financial planner vs adviser: Know the difference

There is a real confusion among investors over who a financial planner is and who an investment adviser is. These terms are used very loosely, so it is necessary that one understands the function of each of these professionals and approach the right people.
A few decades ago, there was confusion between what comprises sales and marketing. People thought they were very much the same. But it is to be understood that sales is just an important ingredient of the functions of marketing. Sales lies in persuading and convincing a person to buy a product that is suitable. Marketing involves all the activities right from the conception of the product, to branding, advertising and retailing.
It is an all-pervasive function from the product being ready to reach the market and ultimately being sold to the customer.
There prevails a similar confusion with who is an investment adviser and who is a financial planner. It is quite common to find these terms used interchangeably, but it is necessary to understand that an investment adviser and a financial planner have vast differences as between sales and marketing.
The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the director and chief financial planner of Holistic Investment Planners (www.holisticinvestment.in) a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.
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