If you are planning on hiring a financial advisor, you need to know the difference between an “investment plan” and “financial plan”. An investment plan maps out an investing strategy to help you meet your long and short term goals, such as retirement or buying a house. A financial plan is a more comprehensive evaluation of your financial situation that can address savings, budgeting, insurance, college planning, taxes, estate planning, and retirement, as well as investments. What services does your advisor provide?