There are several terms for someone who looks after your money, depending on the specific context:
Financial Advisor
A financial advisor provides professional advice and guidance on managing your finances. They can help you with:
- Investing: Choosing the right investments for your goals and risk tolerance.
- Retirement planning: Creating a plan to ensure you have enough money for retirement.
- Estate planning: Preparing for the distribution of your assets after you pass away.
- Tax planning: Minimizing your tax liability.
Financial Manager
A financial manager takes a more hands-on approach to managing your money. They can:
- Develop a budget: Create a plan for how you spend your money.
- Track your expenses: Monitor your spending and identify areas where you can save.
- Pay your bills: Ensure your bills are paid on time.
- Invest your money: Make investment decisions on your behalf.
Trustee
A trustee manages assets held in a trust for the benefit of another person or organization. They are responsible for:
- Protecting the assets: Ensuring the assets are managed responsibly and ethically.
- Distributing the assets: Making sure the assets are distributed according to the terms of the trust.
Executor
An executor is responsible for managing the estate of a deceased person. They:
- Gather assets: Collect the deceased person's assets.
- Pay debts: Settle any outstanding debts.
- Distribute assets: Distribute the remaining assets to the beneficiaries according to the will.
The specific term used to describe someone who looks after your money will depend on the nature of the relationship and the services they provide.
