The Different Types of Personal Finance Planners

Did you know that people who write down a financial plan feel more financially stable than people who don’t?

Creating a plan for your finances can help you manage your money every month. Financial planning does not just mean drawing up budgets; it also includes creating a plan for the future.

Personal finance planners can help manage your finances and investments on your behalf. This can help you improve your overall financial health.

Want to learn more about financial planning? You’ve found the right blog. Here’s everything you need to know about the different kinds of personal financial planners.

Personal Finance Planners

Personal financial planners offer individuals advice to help them manage their investments. This can include simple cash investments but also financial products such as insurance policies. These professionals help individuals by lending their experience to improve their financial health.

Certified financial planners are regulated by an authority to ensure that the advice given is always reliable. These certifications give clients the reassurance they need to trust the guidance they receive. In some cases, financial advisors have to complete some form of training before they can recommend any particular product.

How Financial Planners Work

These financial planners will often start by asking you a few basic questions about your finances. This includes how much money you make, what debts you have, and what your goals are for the future. This gives them the information they need to start creating a financial plan for you.

Financial advisors will then present their plan to you and walk you through everything that you need to do to achieve your goals. In some cases, you can even ask your financial advisor to manage your finances for you. This means that they will set up transfers and ensure that your money is exactly where it’s supposed to be.

Insurance Policies

Insurance policies are some of the most popular financial products on the market. Insurance policies can range from medical insurance to complete life and disability cover. These financial products can get complicated. This is why it’s so important to partner with the right financial advisor to guide you through the entire process.

Investment Managers

Investment managers are financial advisors that specialize in investments. These advisors are industry professionals that can help craft a unique portfolio for your needs. Whether you want to invest in stocks or in general exchange-traded funds, investment managers can help you make the right choices.

Investment managers can give you important advice or take control of your portfolio. This means they can manage your portfolio for you, saving you time. Active management is important to ensure that investments are growing as expected.

Investment managers will let you know as soon as something goes wrong. If an investment takes a dip or something gets announced, they’ll let you know.

These kinds of financial planners can work individually or within a financial company. Most banks have an investment wing filled with investment managers. These managers are there to serve the bank’s top clients but push specific products only.

While most investment managers work within a financial institution, some are independent. These managers offer their services to individuals that want to build a portfolio for themselves. Many people prefer independent advisors as they are not linked to any particular bank or financial institution.

This helps reduce bias as most managers tend to recommend the products within their bank above outside investments. This limits the advice that they give you, making it less accurate than independent financial advisors.

It can help to meet with a few advisors before partnering with one.


When you tell your personal financial advisor to create an investment portfolio for you, they approach a broker to place these orders. Brokerages are firms that act as an intermediary between investors and the securities exchange. These firms play a vital role in helping you manage your investment portfolio.

Working with a broker directly can help you stay in control of your entire portfolio. This can help if you plan to take an active role in your investment portfolio and want the freedom to buy and sell securities whenever you want. While traditional financial advisors can still offer this service, working with a broker is a more direct and efficient route.

Personal Finance Company

Personal finance companies offer a wide range of services to help guide individuals and businesses. Also known as wealth management firms, they use financial advisors to help create financial plans for their clients. These companies are independent but can still have an affiliation with some banks and finance companies.

This connection can sometimes encourage the company to be biased with their advice. While these offers tend to come with discounts and promotions, partnering with an unbiased firm is always the better option. This is because they are incentivized to get you the best deal for you at all times.

Wealth management companies offer a wide range of services. This includes personal financial planning, portfolio management, and even estate services. While most wealth management companies deal with a few clients, there are options available for people that are still growing.

There are also a few boutique wealth management firms that offer guidance and support in specific areas. This includes financial assistance and advice to help with your debt or to help you invest in various ventures such as real estate. In this way, these firms offer services to help you manage and grow your money regardless of what you want to invest in.


Technology and artificial intelligence have created a few unique ways to invest in the market. Robo-advisors leverage large-scale data to help create the best portfolio for you. These programs ask you a few questions to determine what your specific goals are.

Once the program knows what your financial goals are, it can then go ahead and recommend the best options for you. These programs can then invest in the stock market on your behalf. Using complex algorithms, robo-advisors are able to manage and rebalance your portfolio in real time.

Estate Managers

An estate manager is tasked with the maintenance and upkeep of an entire estate. This is one of the most important aspects of financial planning as it includes the question of what happens to your portfolio after you pass away. These financial advisors will help you plan for your future and help you create a portfolio that can effortlessly be transferred.

Estate managers can also help you set up a trust to hold all of your assets after you’re gone. These managers can help manage the trust on your behalf and distribute funds to the right people as you’ve instructed in your will. These financial advisors work with lawyers and other professionals to provide you with a holistic solution.

Personal Finance Apps

Modern technology has made it easier than ever before to control your finances. Almost all major banks now have mobile apps, allowing you to quickly manage your finances with a few taps on your mobile device. These apps don’t just show you all your finances, they often allow you to manage your money as well.

These apps can use your financial data to suggest investments and will even let you open accounts with just a few clicks. You can even set up automatic payments so that money gets transferred to your savings accounts as soon as you get paid. This helps keep you on track with your personal financial goals.

Some apps are designed specifically for creating and maintaining an investment portfolio. These apps let you buy and sell stocks, bonds, and various other securities.

There are also a few apps that offer personalized financial advice. These apps connect you with certified financial advisors to help guide you in the right direction. This can help you manage your finances, create an investment portfolio, and plan for the future.

Take Control of Your Finances Today

Personal finance planners can help you take control of your finances and plan for the future. Whether you want help building a portfolio or setting up a trust, financial planners can help you every step of the way. Some certified financial planners can also help set up and manage investments on your behalf, making your life easier in the process.

If you need a quick loan to help boost your overall financial health, contact us at 24Cash. Our experienced staff will help explain the various loans available for Canadians.

Get your online loan, paperless & fast.

Quick Personal Loans for Canadians :

  • No credit investigation
  • No documents required
  • Repay in up to 90 to 120 days
  • $500 short-term loans

Get your online loan, paperless & fast.

Quick Personal Loans for Canadians :

  • No credit investigation
  • No documents required
  • Repay in up to 90 to 120 days
  • $500 short-term loans