Financial advisory refers to providing comprehensive guidance on a client's financial situation and differs from asset management and investment advice.
Asset management holds the authority to manage a client's assets, while investment advice focuses on capital investments.
In contrast, financial advisory does not have the authority to act independently on behalf of the client, as asset management does. It offers all-encompassing advice on the client's financial situation, covering not only capital investments but also financing, debt, insurance, and the client's financial risks.