Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts.

A financial planner’s job is to help people better manage their money and achieve their financial objectives, whether paying off debt, saving for retirement, investing for education, protecting against risk, minimizing taxes, or managing estate distribution. The term is used loosely for a range of financial jobs, but the most reliable are certified financial planners (CFPs), a designation given by an independent board.

« With all the designations and acronyms in the financial services industry, it’s not surprising [people] can be confused by these similar-sounding terms, » said Scott Bishop, who has his own list of acronyms to follows his name—CPA, PFS, CFP—for his work at Presidio Wealth Partners in Houston. « CFPs mainly give advice to individuals, but some advise small business owners as well. CFPs also help with retirement planning, investing, and other financial planning. »

Financial planners may work independently or be employed by financial planning firms, banks, wealth management companies, or nonprofit organizations. They might cover all aspects of personal finance or specialize in specific areas. While most have years of education and experience, there are no universal minimum requirements to use this title.