What is the main difference between a stock broker, financial planner and investment advisor?
There are numerous differences depending on the firm with which the broker or financial planner is licensed. As an independent investment advisor we are registered and regulated by the U.S. Securities & Exchange Commission and place trades for clients through a variety of sources including electronic communication networks (ECN) that we feel can be executed in the client’s best interest. Most brokers or financial planners can be very limited as to when they can execute trades, share research or in some cases even offer products. The other big difference is that the majority of brokers and planners are compensated via commission dollars based on transactions (purchase & sales), and in doing so may have a more inherent conflict of interest. In attempts to avoid potential conflicts of interest, our money management services are based on fees so that we do not have quotas to fill or feel obligated to make trades to generate income for ourselves. Our entire focus is to build the best portfo
They are all different depending on the company. As far as i know, financial planning is the one who are make good decisions and who plans while financial advisor is the one who are experts in bankruptcy and liqudation etc.
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