When it comes to managing your money—especially as you prepare for or settle into retirement—it’s important to know exactly what kind of guidance you’re receiving.

One of the biggest sources of confusion we come across is the difference between a financial adviser and a financial planner. While the titles may sound interchangeable, they often reflect two very different approaches to supporting your financial wellbeing.

Advisers: Focused on the Products

Many financial advisers focus primarily on your investments. Their role is typically to recommend financial products—such as shares, bonds, or managed funds—based on your appetite for risk and your investment goals.

Typically they don’t provide guidance across the full spectrum of your financial life. They often won’t help with planning for major life transitions—like retirement lifestyle changes, aged care decisions, or passing wealth to the next generation. Advice on tax efficiency, insurance, KiwiSaver strategies, and estate planning is usually outside their scope. Nor do they tend to offer a long-term plan built around your personal goals and values.

That’s the key difference: where advisers manage money, financial planners help you manage your life.

Planners: Focused on Your Whole Life

By contrast, financial planners begin with a very different set of questions:

• What matters most to you in life?
• What does your ideal retirement look like?
• Do you want to keep working, travel more, support your family, or leave a lasting legacy?

These questions aren’t about markets or money—they’re about you.

A financial planner's role is to help you define what success looks like on your terms, and then design a long-term plan to help you achieve it.

That holistic plan includes everything from retirement income strategies to insurance protection, estate and succession planning, tax efficiency, KiwiSaver, and more—along with investments tailored to your specific goals.

Evidence-Based Investment Approach

Combining long-term planning with an evidence-based investment philosophy is crucial.

Stock picking and market timing are not reliable long-term strategies. A disciplined, evidence- based approach—grounded in broad diversification and long-term consistency—has been shown to deliver more dependable outcomes over time.

Working with respected fund managers, a financial planner will build highly diversified portfolios and tilt towards investment factors that research has shown can improve long-term outcomes:

• Small companies – which historically offer higher growth potential.
• Value stocks – those priced more attractively compared to their fundamentals.
• High profitability – favouring businesses with strong and consistent earnings.

These are not just theories—they’re backed by decades of academic research and real-world results. These principles help build reliable, resilient portfolios that support your broader life goals.

Planning Is a Relationship—Not a Transaction

Another key difference? A financial planner walks with you over time. When markets get choppy, or life throws you a curveball, your planner helps you stay grounded adjusting your plan as needed and keeping you focused on what matters most.

A good planner also takes time to understand your behavioural tendencies, helping you avoid decisions that could put your plan at risk during periods of uncertainty.

Can You Manage Without a Financial Planner?

Yes, you can. But many of our clients tell us they wish they’d come to see us sooner—from a narrow investment-based approach to a comprehensive planning relationship that supports their life in a meaningful way.

Before you settle for investment advice, make sure you're getting guidance that truly supports your whole financial life.

Here are five questions that can help you find out:

1. Do you advise on more than just my investments? Look for a planner who helps with retirement income, estate planning, insurances, tax, and KiwiSaver too.
2. Will you help me plan for lifestyle changes or long-term goals? A good plan starts with your values—not just your portfolio.
3. Do you offer an evidence-based investment approach? Ask if your adviser uses academic research and diversified strategies—not predictions.
4. How will you help me stay on track during market volatility? Ongoing guidance matters just as much as the initial plan.
5. Do you take time to get to know my personal circumstances and goals? You deserve a plan that fits your life, not a one-size-fits-all solution.

Want to Know If You’re Getting the Full Picture?

If you're not sure whether your current adviser is giving you the full picture, ask the questions above. Or — have a conversation with our team.

At Central Financial Planning, we’re here to provide clarity, confidence, and a strategy that reflects your life—not just your portfolio.

We’d love to help you plan with purpose.