The following is an excerpt from the book The Five Years Before You Retire by Emily Guy Birken.
There are many different types of financial planners and advisers—and only some of the titles that various financial advisers can use are regulated. Meeting someone who calls himself a financial planner could mean you’ve shaken hands with an insurance agent, a stockbroker, an investment adviser, or a Certified Financial Planner (CFP).
If that’s not confusing enough, different types of advisers are paid in different ways, which can seriously affect your bottom line. Even those with a good understanding of the financial can be excused for feeling a little overwhelmed.