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.

Any opinions are those of Middlebrook Wealth and not necessarily those of Raymond James. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected.