For more leads, check the National Association of Personal Financial Advisors (NAPFA). These planners are fee-only, which means their only revenue comes from their clients. They accept no commissions at all and pledge to act in their clients’ best interests at all times. In many respects, NAPFA standards meet or surpass the requirements needed for a CFP credential.

This is a broad term for a professional who helps manage your money. You pay the advisor, and in exchange, they help with any number of money-related tasks. A financial advisor might help manage investments, broker the sale and purchase of stocks and funds, or create a comprehensive estate and tax plan. If the advisor is working with the public, they must hold a Series 65 license. In addition to that license, there are many other financial advisor credentials the advisor might hold, depending upon the services that are provided.
The protagonist of the novel, Margayya begins his career as petty money-lender doing his business under the Bunyan tree, in front of the Central Co-operative Land Mortgage Bank in Malgudi. He helps the shareholders of the bank to borrow money at a small interest and lends it to the needy at a higher interest. In the process, he makes money for himself.

Financial planners who explicitly provide financial advice and manage money for clients are considered fiduciaries. This means they are legally obligated to act in a client’s best interests, and they can’t personally benefit from the management of client assets. Instead, they are expected to manage these assets for the client’s benefit rather than their own. Fiduciary specifics can vary. Registered investment advisors (RIA), for example, are fiduciaries under the Investment Advisers Act of 1940 who advise high-net-worth individuals on investments. They are regulated by the Securities and Exchange Commission (SEC) or state securities regulators.
×