What is the main role of a financial advisor?

The main role of a financial advisor is to provide guidance on financial management and planning. Financial advisors help individuals and businesses develop comprehensive strategies for managing their finances, which can include investment advice, retirement planning, estate planning, tax strategies, and risk management. They assess their clients' financial situations, set goals, and create actionable steps to achieve those goals. This holistic approach enables clients to make informed decisions about their money and investments to reach long-term financial security.

While preparing personal tax returns, auditing financial statements, and managing household budgets are all important financial tasks, they represent more specialized or narrower functions compared to the broader role of a financial advisor. The advisor's focus is on creating overall financial strategies and guiding clients toward effective financial decision-making, rather than just performing specific financial tasks.