Advanced Diploma of Financial Planning (ADFP) Practice Test

While banks do offer some financial services, they are typically not considered a major provider of comprehensive financial planning services. Instead, the role of banks largely revolves around traditional banking functions such as accepting deposits, providing loans, and facilitating transactions.

In the context of financial planning, many individuals and businesses turn to specialized financial advisors or planning firms that offer a wider array of services. These may include investment management, retirement planning, estate planning, and tax strategy—all tailored specifically to achieve personal financial goals. Banks may provide basic investment options or financial products but usually do not offer the comprehensive planning and personalized strategy that dedicated financial planners provide.

The answer accurately represents the limited scope of financial planning services that banks typically provide compared to specialists in the field.