When it comes to managing your personal finances, you need the right financial professional on your team. Knowing the differences between the various professional designations will help.
CPA (Certified Public Accountant):
One of the more widely recognized certifications. These professionals are tax and accounting specialists who can help with reducing taxes, preparing tax returns, and organizing investments.
CFP (Certified Financial Planner):
These experts can help with investment, estate and retirement planning. And they have a fiduciary duty to make decisions with their client’s best interest in mind.
IA (Investment Advisers):
They are regulated by either the Securities and Exchange Commission or a state regulator and are able to give advice or recommendations about specific investments. An investment adviser may also be a CFP.