Understanding Financial Professionals <em>The key differences between advisors, planners, coaches, and insurance professionals.</em>
If you’ve ever searched for financial support, you’ve probably come across a lot of titles: financial advisor, financial planner, financial coach, financial professional, wealth manager… the list goes on.
And here’s the honest truth: there’s no universal rule for how these titles are used. It can be confusing, frustrating, and often leaves people unsure who they actually need—or who they can trust.
So let’s break it down in plain English.
Financial Advisor
A financial advisor is someone who has passed the Series 65 or Series 66 exam and is registered to work with a Registered Investment Advisor (RIA) as an Investment Adviser Representative (IAR).
Financial advisors are legally permitted to provide investment advice and are typically held to a fiduciary standard, meaning they are required to act in their clients’ best interests.
Depending on the firm, a financial advisor may:
Provide investment advice or manage portfolios
Offer financial planning (comprehensive or limited)
Charge fees (hourly, flat, or a percentage of assets under management)
While all IARs are licensed financial advisors, the scope of services they provide can differ significantly. Some include financial planning as part of their work, but the licensing exams themselves are centered on investments and regulations rather than holistic financial planning. Additional education and credentials often determine how planning-focused an advisor truly is.
Key takeaway: A financial advisor is a licensed professional who can legally give investment advice, but the scope of planning and level of personalization depends on the advisor and the firm. They often charge a fee as a percentage of assets that you hold with them.
Financial Planner
A financial planner focuses on your entire financial picture, not just investments.
This usually includes:
Cash flow and budgeting
Goals (short‑ and long‑term)
Retirement planning
Tax and estate planning coordination
Employee benefits
Insurance review
Some financial planners hold the CFP® (Certified Financial PlannerTM) designation, which requires education, exams, experience, and a fiduciary obligation to act in clients’ best interests.
Financial planners may or may not manage investments. What matters most is that planning—not products—is at the center of the relationship.
Key takeaway: Financial planners help you connect the dots across all areas of your financial life. They often charge a flat fee for their services.
Financial Coach
A financial coach typically focuses on behavior, habits, and short‑term decision‑making.
This often includes:
Budgeting and cash flow support
Debt payoff strategies
Accountability and mindset work
Building confidence around money
Financial coaches generally do not provide investment advice and are often unlicensed. That’s not a bad thing—it just means their role is different.
Coaching can be especially helpful if you’re looking to change money habits, get out of debt, or feel more confident managing day‑to‑day finances.
Key takeaway: Financial coaching is about behavior, accountability, and momentum. Coaches often charge a flat fee or an hourly rate.
Insurance Professionals
Insurance professionals are licensed to sell insurance products such as life insurance, disability insurance, long-term care insurance, health insurance, and annuities
They may refer to themselves as financial professionals, which isn’t incorrect—but it’s important to understand that their role is typically product-focused. They can also be financial advisors, but it is not always the case.
Insurance professionals usually:
Specialize in specific insurance products
Earn commissions based on the products sold
Focus on risk management rather than holistic financial planning
Some insurance professionals are very knowledgeable and play an important role in a client’s financial life—especially when it comes to protecting income, families, and assets. However, their recommendations are often tied to the products they’re licensed to sell.
Key takeaway: Insurance professionals focus on protection and specific products, not comprehensive financial planning. Their compensation is commission from the products they sell.
Financial Professional / Wealth Manager / Other Titles
Terms like financial professional, wealth manager, or financial consultant are mostly marketing titles. They aren’t regulated and don’t guarantee a specific set of services or credentials.
People using these titles may:
Sell financial or insurance products
Manage investments
Offer planning—or not
Again, the title itself matters far less than:
What services are offered
How the person is compensated
Whether they act as a fiduciary
Why This Feels So Confusing (And It’s Not Your Fault)
The financial industry isn’t great at being clear.
Titles are inconsistent, rules vary, and many firms use similar language to describe very different relationships. That’s why it’s so important to ask questions and understand what you actually need.
Some helpful questions to ask:
What services do you provide?
How are you paid?
Do you act as a fiduciary at all times?
Do you manage investments, offer planning, or both?
Where Kekoa Capital Fits In
At Kekoa Capital, we focus on financial planning and guidance.
That means:
Planning comes first
No product sales or investment management
Clear, flat-fee pricing
A conversational, supportive approach
I work with people who want clarity, structure, and confidence—without pressure or jargon. Think of it as a partnership focused on helping your money support your real life.
The Bottom Line
There’s no single “right” title—only the right fit for your goals,
Understanding the differences can help you choose support that aligns with your goals, values, and comfort level. And if you ever feel confused or overwhelmed, that’s not a failure—it’s a sign you’re asking the right questions.
Money should feel understandable, manageable, and empowering. The right kind of help can make all the difference.
