What is a CFP vs. a FA?
A CERTIFIED FINANCIAL PLANNER™ (CFP®) is a professional designation granted by the Certified Financial Planner Board of Standards, Inc. (CFP Board). To become a CFP®, professionals must meet specific education requirements. This includes completing a comprehensive CFP Board-approved educational program and passing the CFP Certification Examination, which rigorously tests their knowledge in areas such as financial planning, retirement planning, tax planning, and estate planning.
CFPs® take a holistic approach to financial planning. CFPs® work to understand the client’s entire financial situation, not just their investment needs. This includes assessing liabilities, insurance coverage, and other factors that impact overall financial health. CFPs often provide education and guidance on investment decisions. They explain the implications of different investment options and help clients make choices aligned with their financial objectives.
Financial Advisors (FAs) may specialize in specific areas such as investment management, retirement planning, estate planning, or insurance. The scope of services can vary based on their expertise and the licenses they hold. They actively manage investment portfolios for advisory clients. They may recommend specific investments, make adjustments based on market conditions, and provide ongoing monitoring on advisory accounts to ensure the portfolio aligns with the client’s objectives. They may also recommend specific financial products, such as mutual funds, stocks, bonds, or other investment vehicles. They consider the client’s goals, risk tolerance, and investment preferences when making these recommendations. At Middlebrook Wealth, we recognize the importance of having both Financial Advisors and CERTIFIED FINANCIAL PLANNER™ professionals on our team.
Advisory services provided by NewEdge Advisors, LLC doing business as Middlebrook Wealth, as a registered investment adviser. Securities offered through NewEdge Securities, LLC, Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC. are wholly owned subsidiaries of NewEdge Capital Group, LLC.
The information in this material is not intended as tax or legal advice. Please consult your legal or tax professionals for specific information regarding your individual situation. This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.