I got a call from a Fidelity rep recently. He explained that my old financial advisor left the firm and he wanted to introduce himself, just in case I needed assistance. It’s too bad we never know when our contact leaves before the split happens, but at least they called me to let me know there will be a change.
On the call, he mentioned how he’s a financial planner. But he kept referring to the person he replaced as a financial advisor. I asked him why he chose to use a different title to refer to his predecessor. He explained that it was because he went through the pain to obtain a Certified Financial Planner (CFP) certification.
I didn’t press further, but I did look it up afterward. What does it mean to be an financial advisor? What does it mean when someone calls themselves a financial planner? Are they different? Here’s what I found out.