A financial advisor or financial adviser is an independent professional that offers financial advisory services to clients depending on their current financial circumstance. In most countries, financial advisers must obtain pre-finance approval to offer advice, and must complete certain regulatory training and be licensed by a regulatory body. Financial advisers can advise their clients about various investment options, as well as offering investment advice. Some advisers also provide additional services such as market analysis and advice on cashflow. They are often relied upon by family or friends to help them manage their finances.

There are a number of different types of financial advisors, including self-employed advisors, sole proprietors, global or hedge fund investment consultants, pension or savings plan management advisors, and family financial advisors. Most financial advisors work independently or as partners with other professionals, rather than working for a single firm. Most work with portfolios composed of mutual funds, asset allocation funds, and/or bond funds, though some may work exclusively with one or two types of assets.

Choosing the right fit between a financial advisor and your own needs requires research and due diligence. It is important to consider the advisor’s record and education, his or her qualifications, and how he or she fits into your team, your overall financial planning process, your goals, and your overall strategy. Choosing the right fit ensures your best interests are protected and that your goals are met. The right advisor can make the difference between financial success and financial failure.