CFPs often call themselves financials advisors but it’s important to point out that not all financial advisors are CFPs.
There isn’t a specific license or certification process required to become a financial advisor. Usually the financial adivsor would have passed a licensing exam to buy and sell you a securities or an insurance product. Regardless, anyone can become a financial advisor and help you manage your money.
Most important, financial advisors may or may not be a fiduciary depending on the product they are discussing with you. In other words, they might be a fiduciary one minute and the next minute, they might not be.
A CERTIFIED FINANCIAL PLANNER™ must undergo years of training, coursework and pass an examination. Additionally, a CFP® continues their education even after receiving their certification. A CFP® provides comprehensive financial planning services and may also provide investment advice and recommendations. They also must act as fiduciaries when providing financial advice to their clients…not some of the time, but ALL of the time.