What is the Difference Between Financial Planner and Accountant?

Who Is an Accountant?

Who Is a Financial Planner?

What is the Difference Between Financial Planner and Accountant?

Like every business, every profession is also unique and has its challenges. If you want to know the difference between financial planner and accountant, then follow this tabular guide below.



Financial Planner

Qualification Required

A bachelor’s degree is preferable but not mandatory. Along with this, CPA or Certified Public Accountant certification is required.

A bachelor’s degree is preferable but not mandatory. Along with this, CFP or Certified Financial Planner certification is required.

Roles and Responsibilities

They maintain financial records, prepare budgets, and tax returns, provide advisory services for management, etc.

They help clients with money management and assist them in meeting long-term financial goals.

Duty of Care

They are considered to have a fiduciary duty to their clients.

For financial planners, it varies based on their licences.

When to Hire

For preparing a tax return, recording financial transactions, and preparing budget and financial reports.

For reducing your overall debt, pick any investment strategy or individual securities.

Work-Life Balance

For an accountant, the busiest months are from January to April, while the remaining months offer a decent work-life balance.

For the first few years, financial planners dedicate a lot of their time to find and sell clients.


It ranges between Rs. 0.6 lakhs to 6.0 lakhs with an average annual salary of Rs. 2.5 lakhs.

An average salary of a financial planner is 3.4 lakhs per year.

Required Skills

An accountant must possess accounting organisational skills, time management skills, the ability to analyse data, proficiency in accounting software, etc.

A financial planner must have a broad knowledge of banking, economics, and financial markets.

These are the main differences between accountant vs financial planner, and based on this you could easily decide which one to choose as a career or which one to select for your business.

Which One Is Better Accountant or Financial Planner?

FAQs About Accountant Vs Financial Planner

Can an accountant help with financial planning?

Yes, in practice, an accountant can help you with preparing your tax returns and financial statements. While a financial planner can guide you in various aspects of your financial journey, like estate planning, insurance planning, investment planning, and tax planning.

What are the four common types of financial planners?


The four most common types of financial planners are:

  • Certified Financial Planner
  • Investment and Wealth Advisors
  • Asset Managers
  • Financial Consultant

What are the three objectives of financial planning?


The three objectives of financial planning include:

  • Determining your future needs in terms of investment, funds, and resources
  • Determining the sources of the funds
  • Managing or utilising these funds efficiently