Financial Avice is advice given in relation to financial matters such as investing, insurance, borrowing, saving and retirement planning. Professionally, the advice is given only after the financial situation of the client is unveiled through a thorough fact-finding and analysis exercise. Many financial advisers also double-up as financial planners because their function is crossed in many areas. This principle of understanding the client's situation before advice are given is known as the 'know your client' rule. Once the client's actual financial situation is known, a set of prescriptions are provided by the financial adviser to solve those client's problems that are uncovered.