04.18.2025 By Amy Miller, AFC®

Choosing the Right Financial Professional

When it comes to managing your money, it’s easy to feel overwhelmed. Should you talk to a financial counselor? A financial advisor? And how do you know if they’re actually qualified to help?

 

At America Saves, we believe that access to trustworthy, unbiased, and qualified financial professionals should be clear and accessible. That’s why we’re breaking down the differences between common financial professionals—and giving you the tools to choose one who’s right for you.

Financial Counselor vs. Financial Advisor: What’s the Difference?

*Financial Counselors (like an AFC® – Accredited Financial Counselor):
Financial counselors help individuals and families with day-to-day money management. This includes budgeting, building savings, reducing debt, and creating a financial plan for life’s goals.
They are trained to support people who may be struggling financially or looking to build a more stable foundation. AFCs often work in nonprofit organizations, the military, schools, and financial institutions.

Key focus areas:

  • Budgeting
  • Debt management
  • Credit education
  • Emergency savings
  • Navigating financial hardship

Best for: Individuals who want to build better habits, reduce debt, or are new to personal finance.

*Financial Advisors:
A financial advisor typically focuses on managing wealth, investing, and long-term financial planning. They may offer retirement planning, estate planning, insurance strategies, and portfolio management.
Some advisors are commission-based, while others charge fees. It’s essential to understand their compensation model before working with them.

Key focus areas:

  • Investment strategies
  • Retirement planning
  • Tax-efficient wealth management
  • Estate and insurance planning

Best for: Individuals who have built savings and are ready to plan for long-term goals like retirement or investing.

 Why Credentials Matter

Not all financial professionals are created equal, and many have no credentials at all and lack the experience or knowledge to give sound advice. Therefore, it’s very important to be sure to look for credentials that prove they’ve had the proper training and experience. Here are a few to keep in mind:

  • AFC® (Accredited Financial Counselor): Trained to provide practical financial guidance and education.
  • CFP® (Certified Financial Planner): A widely recognized certification for financial planners that requires extensive education, exams, and experience.
  • CPA (Certified Public Accountant): Often provides tax and accounting services, but may also offer financial planning.
  • ChFC® (Chartered Financial Consultant): Offers advanced knowledge in financial planning and insurance.

What is a Fiduciary and Why It Matters

A fiduciary is someone who is legally and ethically obligated to put your interests ahead of their own. That means they must recommend what’s best for you, not what earns them a commission.

Not all financial advisors are fiduciaries. If you’re seeking investment advice, be sure to ask, “Are you a fiduciary?” If they aren’t, proceed with caution and ask more questions about how they’re compensated.

How to Find a Trusted Professional

  • To Find an AFC® (Accredited Financial Counselor):
    Visit AFCPE’s Find an AFC tool to connect with a certified financial counselor.
  • To Find a Fiduciary Financial Advisor:
    Use NAPFA’s (National Association of Personal Financial Advisors) search tool for fee-only, fiduciary advisors.
  • For Free or Low-Cost Financial Help:
    • Look for local nonprofit organizations or VITA (Volunteer Income Tax Assistance) programs
    • Visit your community’s housing counseling agency
    • Check out resources through America Saves and take the America Saves Pledge to get guidance tailored to your goals.

Finding the right financial professional is a big step toward improving your financial well-being. Whether you need help getting out of debt or building wealth for retirement, the right support makes a difference.

Understand your needs and be sure to:
- Ask about credentials
- Confirm fiduciary status
- Make sure they’re aligned with your goals

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If you’re ready to take control of your financial life, start by taking the America Saves Pledge and commit to a simple goal—whether it’s saving for emergencies, paying down debt, or planning for the future. We’ll support you with resources, tips, and tools to help you succeed.

Have a success story or experience working with a financial professional? Share your Saver Story with us! We’ll send you a $50 gift card if we use your submission!

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