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Financial Management vs Financial Planning

Both financial managers and financial planners are skilled in professionals that assess income and fundamental expenditures, instruct on applicable taxes/laws, and also contribute a reasonable plan that can assists clients achieve their desired goals. Although the foundation of the occupations are essentially the same, the skills required and the manner in which they carry out their duties are quite different.

Continue reading below for more information on the difference between financial managers and financial planners.

Financial Planner:

A financial planner is an individual who is a qualified  investment professional. As an investment professional, these planners assists others and on a large scale – corporations in meeting their long-term financial goals through the examination of their present financial status and  creating a program that will allow the client to reach their goals. Financial professionals have many areas of specialization which include risk management, investment analysis, retirement, estate planning, tax planning, and asset allocation.

Financial Manager:

Financial managers financial managers work exclusively with companies instead of individuals or families. These financial professionals are obligated to track various organizational factors in order to maintain fluidity throughout  companies they work with.

Professionals in this field have seen a decrease in their workload as there have been many recent advances in technology in this area. Managers must now work with expectation to  With advances in technology rendering direct account management less and less of their daily workload, managers are now expected to recommend progressive data analysis regularly to advise senior leadership of the companies they work with.

Hopefully, this information made the ability to distinguish between the two financial professions a little bit easier.

Stay tuned for more information!