A financial advisor (or financial adviser in some countries) is typically an individual, with some defined professional certifications and qualifications, who provides financial advice in individuals, foundations, endowments and corporate entities. The term is also occasionally used to reference businesses comprised of individual financial advisors. The scope of advice varies based on the training and professional qualifications of the Advisor. Most commonly, Financial Advisors are involved with investment management, retirement planning, financial planning, trust and estate advice and and risk management/insurance. Advisors are compensated by both direct and in-direct fees paid by their clients.