The jobs of both seem similar to an outsider, online investment advisor and financial advisor perform very different roles in financial services. We have stated some differences between an online investment advisor and a financial advisor. Online investment advisors work on a fee-based system of dispensing investment advice catered towards individual client needs, manage investment account. Investment advisors are also known as asset managers, investment managers, and wealth managers. Financial advisors are in the business of giving financial advice and managing money on behalf of the client. This may be through portfolio management or the selection of mutual funds. These are some differences between an online investment advisor and financial advisor.