Which of the following best describes the role of a financial advisor?

The role of a financial advisor is best described as providing tailored advice based on client needs. This means understanding the unique financial situation, goals, and preferences of each client and offering customized guidance to help them make informed decisions about their money. Financial advisors assess their clients' current financial positions, evaluate future goals, and create strategies that align with those ambitions, which might include investment planning, retirement planning, or budgeting.

A financial advisor does not handle all personal finances without client input, as collaboration and transparency are essential aspects of their role. They also do more than just execute trades on behalf of the client; their primary focus is on overall financial planning rather than just transaction execution. While some financial advisors may provide assistance with tax-related matters, preparing tax returns is typically not a central aspect of their responsibilities, so they focus on broader financial strategies and advisory roles.