What Does A Financial Planner do? (Job Description)

A financial advisor or so-called financial planner is someone who assists in financial planning – working out irregularities and make the best use of money. A financial advisor is someone who makes the judicial use of your money. But still, a question is there? What does a financial planner (advisor) do?

Let’s discuss in detail about the financial planning job description. What do they do? How they do it? And what is the process of financial planning?

What does a financial planner (advisor) do?

what does a financial planner, advisor, adviser and consultant do

There is a list of things that financial advisors do. From money management to making money, there is a lot of stuff out there for financial planners!

The first and foremost task, as indicated by the name itself, is to plan about your finances i.e Money Planning.

Not all persons are sound enough to put their money into proper use and to plan everything according to one’s budget!

Here the role of the financial planner comes into play.

You hire a financial planner and the things go into six key components of financial planning:

  • Analyzing Problems
  • Total Finances
  • Making Solutions
  • Implementing Solutions
  • Working Out On Irregularities
  • Making Money Through Money

A Spherical Technique – Six Key Components of Financial Planning

So what is a spherical technique? It is the basic six components of a financial planning system that is used by most financial advisors or planners to do the all round development of their clients.

Here is a step by step guide to do the financial planning process. Let me add one more point here especially for you. This technique is so designed that you can use it at home too.

  1. Analyzing Problems

The first thing any financial planner and a financial advisor do is to analyze problems deeply and keenly.

The problems can be of different types like wasting a lot of money over one sector say food alone and ending up with empty pocket by the end of or by the middle of the month for other things, getting or saving less money for trips and spending more on household core items, hurting education and much more.

So a financial planner or advisor makes a list of all your issues in a diary. And mark the expenses that you usually spend in each sector.

This is a step that makes the base for all other steps.

  1. Total Finances

Next step is obviously looking at each and every income source that you have a make a total of it.

Your each and every penny matters. So knowing how much you earn and how much spend is a most important step too.

Are you curious to know:- How Much Do Financial Advisors Make In A Year?

  1. Making Solutions

Now a financial planner or advisor has detail about all your problems and also has an idea of your total money.

It is time to make healthy solutions.

Usually, it is done by making sectors into a list of priorities. The priorities are of three types:

  • High Priorities
  • Medium Priorities
  • Low Priorities

Now the three types of priorities can be different for different persons. It’s your duty to help him recognize your priority sectors.

(An example can be like this:

High Priority: Education, House Rent, Electricity Bill, Food, etc.

Medium Priorities: Saturday Outing, Dinner Date, Partying, Buying Clothes, etc

Low Priorities: A vacation, buying a car or home, A TV, etc )

You can make your own list of priorities and sort it out.

Now a financial planner will divide your money into these three priorities, giving more emphasis to high priorities and then to medium priorities and then to low priorities.

  1. Implementing Solutions

A full proof financial plan is ready and it is time to implement it in real. Financial Planner or Advisor will give you a plan and you are required to follow it for the next mentioned period of time.

  1. Working Out On Irregularities

Now the plan that is being followed can prove to be a flaw to a client. So a financial planner works out on irregularities and makes it smooth for their client.

A weekly review is taken up. If something goes against the plan, there is a need for modification. If it goes with the plan, then it is continued.

  1. Making Money Through Money

This is the best step that I personally like the most about financial planners!

They know how to make money through money. Yes, you read it right.

They will help you make more than you previously had. The steps can be either investment or getting into a more profitable business or something else. But surely it is going to be a beautiful ride.


Want to start from basic: Financial Advisor v/s Financial Adviser (Definitions and Difference)


It is not a bad idea to get into the job of a financial planner or advisor or to hire the same. A financial advisor is surely going to make your life smooth and easy and will definitely make your life more profitable and successful than before. The question is – Are you ready to hire a Financial Advisor?


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