The terms financial advisor and financial planner are widely used throughout Canada and can refer to a number of levels of expertise, qualifications and accreditations. Because of this, the terms are often used and understood interchangeably. Legally speaking, outside the province of Quebec, the profession is unregulated. This means that in most of Canada anyone can call themselves a financial advisor or planner. With that said, you can think of a financial advisor as a person who manages money for you, possibly in the short term. A financial planner, on the other hand, connotes a long-term relationship with someone who will help you obtain long-term financial goals. When you find a financial advisor you want to work with, ask them about their qualifications and certifications. The best financial planners, and those with a fiduciary duty, are more likely to use the titles Certified Financial Planner, Personal Financial Planner or Registered Financial Planner. They will have a relevant educational background and certifications to share with you. Good to know In Quebec, the title financial planner is reserved exclusively for people who have received training in this profession. These individuals have several obligations, including: To have obtained a certificate from the AMF or Autorité des Marchés Financiers Be a member of a professional association with which the AMF has concluded an agreement.