Portfolio managers create and manage investment portfolios, whereas an investment adviser markets one particular product. Investment advisor has a significant role to play in financial markets, but they are ill-equipped to support a client's longer-term financial goals. The choice between a stockbroker and investment adviser is highly personalized, depending on a client's unique financial needs for managing their money. Like an investment adviser, a stockbroker must tailor their investment recommendations based on the client's unique financial circumstances, such as long-term financial goals, risk tolerance, age, and budget. Once the investment adviser has established a client's goals and needs, one has to investigate and analyze investments, strategies, and market conditions to determine what options are the best fit.