Financial advisors help clients manage wealth and achieve financial goals. They assist with budgeting, investments, and tax planning. Advisors work at firms, banks, or as independent consultants
Wealth management focuses on protecting and growing wealth of high-net-worth clients. Services include investment advice, tax planning, estate planning, and retirement planning. Wealth managers develop personalized financial plans based on client's situation
Fidelity offers commission-free trading and extensive research for beginners. Charles Schwab provides zero commissions and customizable thinkorswim platform. Ally Invest specializes in low-cost trading for Ally Bank customers. E-Trade offers comprehensive trading across multiple securities. Firstrade excels in options trading with mobile app features
CFP® is a certification for financial planning expertise awarded by CFP Board. CFPs help individuals with retirement, investing, education, insurance, and taxes. CFPs act as fiduciaries, prioritizing client's best interests
Custodian banks safeguard customer securities for protection. They manage accounts, transactions, and ensure tax compliance. Custodians can hold assets in physical or electronic form
Financial advisors can be fiduciary or non-fiduciary, depending on their certification and regulations. Fiduciary advisors must prioritize client interests and charge fees only. Non-fiduciary advisors can recommend products with higher fees but may not be best