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5 different types of financial planners, and which one might be right for you

According to 2020 data from the U.S. Bureau of Labor Statistics, there are more than 218,000 personal financial advisers, a profession that encompasses a broad range of skills including advising clients on financial plans, knowledge of tax and investment strategies, securities, insurance, pension plans and real estate. CFPs assist with creating and maintaining a financial plan and advise on selecting specific investments and helping their clients navigate divorce or prepare for retirement. To become a CFP, a bachelor’s degree is required along with university-level coursework through a CFP Board registered program, a board exam, and either 6,000 hours of professional experience related to financial planning or 4,000 hours of an apprenticeship.