The phrase Money Manager is often used interchangeably with terms such as “Financial Advisor” or “Money Advisor”.
In general, Money Managers are individuals who manage money on behalf of others. However, their role is not just limited to managing money. They also provide advice on investing, financial planning, budgeting, saving, using credit cards, and ways you can reduce your taxes.
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A Money Manager first assesses the client’s financial situation, and then presents a series of recommendations to help the client reach his or her financial goals.
When providing financial recommendations, Money Managers are expected to provide an objective viewpoint on the benefits and risks of any particular financial product.
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