Financial Advisor in Corpus Christi, TX. Your hard-earned money deserves attention, and you want to be confident about how it's being managed and how it's being used. A lot of Corpus Christi residents lack the financial literacy to feel confident they're making the optimal decisions with their money, while others simply don't have the time or interest to stay informed on financial markets along with new laws, regulations, and global events. That's when you should consider hiring a reliable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Corpus Christi, TX will make your money work for you. We use in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Corpus Christi, TX and beyond. Call us today at 877-930-4015 or contact us through our website to learn how Correct Capital can help you.
Wondering if you're ready to hire a financial advisor in Corpus Christi, TX? Check out our process page to find out how simple we make it to ascertain if we would make a good team.
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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.
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A 2018 study by FINRA found that 53 percent of American adults are nervous about their finances. A source of that apprehensiveness is often simply not being sure they're putting their money in the right places. Once our Corpus Christi, TX financial advisor team gets to know you, your present financial situation and your financial goals, we'll create a road map to help you reach them. As a fiduciary and an independent firm, your Correct Capital financial advisor is obligated to act in your best interest and we are not limited in the plans we can recommend. Our financial advisors in Corpus Christi, TX have certifications that can only be obtained through exhaustive testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who provides advice on managing personal finances and investments. This broad definition includes a variety of services, from portfolio management and retirement planning to tax planning and estate planning. The primary goal of a financial advisor is to help individuals and organizations reach their financial objectives by creating strategies that align with their risk tolerance, financial situation, and long-term goals. While technically anyone can be called a financial advisor or financial planner, reliable and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that denote their experience and education.
Types of Financial Advisors in Corpus Christi, TX
Financial advisors come in various forms, each with different areas of expertise, compensation models, and types of services offered:
- Investment Advisors or Portfolio Managers: These professionals offer advice on securities and oversee investment portfolios. They often work in RIAs and are required to serve as fiduciaries, meaning they must act within a client's best interest. Investment advisors are registered with either the Securities and Exchange Commission (SEC) or state regulators, depending on the amount of investments they manage.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds for their clients or for their own accounts. They must register with the SEC and are typically members of FINRA. The financial products they can sell depend on their specific licenses, such as Series 6 or Series 7. For instance, a broker who has a Series 7 license is qualified to sell general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals with the CFP certification have completed rigorous education and uphold the highest ethical standards, including a fiduciary duty to their customers. CFPs provide a vast spectrum of financial planning services, ranging from debt management to planning for retirement, and investment strategies. Their methodology is holistic, aiming to satisfy every facet of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed education comparable with CFPs and are also required to hold their clients' interests above their own. They focus on offering holistic financial advice, covering everything from investment management to tax advice, guaranteeing that clients' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on improving clients' financial literacy, guiding with basics such as saving money and creating budgets. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. This type of guidance delivers a good starting point for managing personal finances effectively, particularly for those looking to take the first step towards financial wellbeing.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering comprehensive services that encompass estate planning, tax help, and investment management. They work closely with their clients to navigate complex financial situations and develop wealth preservation strategies. Their expertise is geared towards optimizing the financial health and future of those with substantial assets, ensuring that every financial decision is aligned with personalized advice and solutions.
Each type of financial advisor brings unique expertise and services to the table. At Correct Capital, our team of advisors includes CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, ensuring that we act exclusively in the best interest of our clients in all of our advice and dealings.
What Does a Financial Advisor Do?
A financial advisor will analyze your present finances, determine means to enhance it, and help you accomplish your long-term financial goals. Many Corpus Christi, TX residents often immediately think of investing when they consider wealth management services and financial advisors. While that is a central facet of any financial plan, a certified financial advisor will be able to provide you with holistic financial advice that takes into account the whole of your finances. The following are some of the services your Correct Capital financial advisor in Corpus Christi, TX will utilize in order to help you accomplish your objectives.
- Financial Planning
Our money is integral to almost anything we do, from making sure we're set up in retirement, to education, real estate transactions, picking insurance policies, and putting food on the table each night. The best financial advisors in Corpus Christi, TX offer holistic services and tailored guidance by considering your entire financial situation.
- Tax Planning
Taxes are involved almost any time money is exchanged or used. According to the IRS's own data, over 7 out of 10 of Americans pay more than necessary in taxes every year. The United States tax code is incredibly complicated, yet it allows for perfectly legal means to minimize taxes owed. A professional and trustworthy Corpus Christi, TX financial advisor will help you navigate your tax implications to ensure keeping more money in your own account.
- Portfolio Management and Asset Management
Your financial portfolio is the aggregation of your financial assets. They can include equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as real estate. A financial advisor in Corpus Christi, TX will assist to allocate and diversify your assets to mitigate risk and best position your money for growth.
- Retirement Planning
Depending on where you stand in life and the kind of life you want to live when you retire, your Corpus Christi, TX financial advisor will help with tax implications, evaluating the best age to retire, when to withdraw money and how much to withdraw. A financial advisor will assist in formulating a budget and strategy for source of income in retirement so you can spend your golden years just how you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Corpus Christi, TX businesses and business owners. Introducing a 401(k) plan is a great way to retain your best employees and keep them motivated and happy. Our retirement consultants represent over $218 million in plan assets and thousands of plan participants nationwide. Our Corpus Christi, TX financial advisor team offers comprehensive 401(k) planning for companies as well as customized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be difficult to know the best way to handle the money you've accumulated in a previous Corpus Christi, TX employer's 401(k) plan. You have a number of options, including keeping the money in the account it is currently in, transferring it to a new 401(k), or investing the money in one of a selection of IRA accounts. A financial advisor will have the knowledge how to best manage managing your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's normal to desire to leave a legacy and bequeath some wealth behind the people you care about the dearly. Wealth transfers are distinct from just leaving gifts behind in estate planning. A financial advisor in Corpus Christi, TX can strategically plan your money for both your children but for generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can give themselves the title of "financial advisor," so it's necessary to pick one who has accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Corpus Christi, TX financial advisor at Correct Capital must act in accordance with a "Code of Ethics and Standards of Conduct" to:
- Act with honesty, integrity, competence, and diligence.
- Act in the client's best interest.
- Exercise due care.
- Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
- Maintain confidentiality and protect the privacy of client information.
- Act in a manner that reflects positively on the financial planning profession and CFP® certification.
- Debt Management
Financial advisors offer customized debt management plans that focus on managing debt, securing lower interest rates if feasible, and prioritizing repayments. The goal is to create a workable path forward that suits your financial situation and goals, ultimately leading to financial freedom.
- Budgeting
Creating and staying compliant with a budget is essential to achieving financial health and goals. Financial advisors in Corpus Christi, TX can help clients comprehend how much money's coming in, identify areas to spend less, and set realistic spending limits that facilitate growing your wealth. By providing tools and strategies for efficient budgeting, advisors guarantee that clients can meet their current financial obligations while also planning for future goals.
When you hire a Corpus Christi, TX financial advisor at Correct Capital, we begin by getting to know you and your goals. We will assess your current income, assets, investments, debts, and expenses. Next we've completed that, we'll work in concert with you to establish your preferred risk tolerance and how we can best help you grow your money. As an independent advisory firm, our only commitment is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can suggest, and we will never try to sell you on something we do not believe in ourselves.
When Should I Consider Hiring a Financial Advisor in Corpus Christi, TX?
Seeking the advice of a financial advisor can be a vital step towards achieving financial health, peace of mind, and wealth. While the right time can vary widely from person to person, certain life events and circumstances often signal the need for professional financial advice.
- Major Life Changes: Life is a long line of changes, and many of them have substantial financial implications. Whether you're starting a family or facing retirement, these milestones can dramatically affect how your money should be used and invested. A financial advisor can assist you manage these changes, ensuring that your financial plan evolves to meet your changing situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: Managing personal finances can be complicated, time-consuming, and, frankly, overwhelming for many. If you aren't confident to effectively manage your investments, or simply prefer to focus your time on other pursuits, a financial advisor can be invaluable. They bring expertise and objectivity to your financial decisions, aiding to improve your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
- Nearing Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can assist you review your current financial situation, estimate your retirement needs, and craft a plan to ensure you can experience your retirement years comfortably. This includes strategies for Social Security benefits, pension management, and withdrawal plans from retirement accounts.
- Complex Financial Products: The financial market offers a plethora of investment options, many of which come with their own complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's insight can be crucial. They can assist you grasp the risks and benefits, ensuring that any investment matches your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is paramount whenever you hire someone to do something, but particularly so when it comes to your finances. Beyond just finding a dependable advisor, you need one who best meets your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's track record, including their time spent in the industry, the types of clients they've collaborated with, and their specializations, can provide you a sense of their proficiency and whether they're well-suited to handle your financial needs.
- What are your qualifications and certifications?
Ask about any certifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require adhering to rigorous educational, experience, and ethical standards, indicating a high level of competence and expertise.
- What is your investment philosophy?
An advisor's investment philosophy should align with your risk tolerance and financial goals. Whether they favor a cautious approach with a focus on long-term growth or a more aggressive strategy, their philosophy should reflect your expectations and expectations.
- How do you prefer to communicate with clients?
Communication method and regularity are crucial to a productive client-advisor relationship. Inquire about how often you'll be able to meet with your advisor, whether they'll be face-to-face or virtual, and how the advisor expects to keep you informed about your investments and financial plan.
- What's your fee structure?
Advisors can be fee-only, commission-based, or a mixture thereof. Knowing how an advisor is compensated will help you identify potential biases and guarantee that their recommendations are made with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor serves as a fiduciary is crucial. This means they are legally required to put your interests before their own, giving advice that optimally benefits your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide comprehensive financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of client education and portfolio reviews. Grasping the full scope of services offered can help you gauge whether the advisor can meet all your financial needs.
- How do you handle conflicts of interest?
An honest advisor will transparently share potential conflicts of interest and how they deal with them to ensure they don't harm their clients' financial plans. Fiduciary advisors must reveal conflicts of interest, and must manage them in their client's best interest.
Asking these questions will not only offer essential information about the financial advisor's qualifications and approach but also enable you to assess whether there is a good personal fit. Remember, a strong relationship with your financial advisor is built on transparency, trust, and mutual understanding.
You can find many of these questions answered on our FAQ page.
How Much Does a Financial Advisor Cost in Corpus Christi, TX?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors make their earnings through commissions on the products they sell, such as insurance policies. This fee structure can create a potential conflict of interest, as the advisor could be motivated to suggest options that generate higher commissions instead of those that are most suited to your financial goals. Commission-based advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to recommend products that can aid in achieving your goals, but not necessarily the ones best suited to your needs.
- Fee-Only: Fee-only advisors are compensated straightforwardly by clients for the advice and services they provide and do not receive any commissions from product sales. This compensation can take several forms, including a percentage of the assets under management (AUM). This model is often seen as more transparent and aligned with the client's best interests, as it reduces conflicts of interest related to product sales.
- Fee-Based: Fee-based advisors use a combination of client-paid fees and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, such advisors typically also have a fiduciary duty, which means that even if they get commission from certain products, they must reveal this to the client and cannot recommend those products unless they sincerely believe they are in the client's best interests.
Correct Capital's Financial Advisory Services in Corpus Christi, TX
Correct Capital stands out in the Corpus Christi, TX financial advisory landscape for its customized approach to wealth management and financial planning. Understanding that not all clients have the same starting point or identical goals, we offer three different service models to our clients in Corpus Christi, TX:
One-Time Financial Plan (best for validators)
This service model is best for those who are looking for the guidance and recommendations a financial advisor can offer without the continuous oversight. This service is excellent for individuals who largely feel good about managing their finances but are looking for professional insight to ensure they're on the right track. Our team performs a thorough review of your financial landscape, supplying you with a detailed plan that tackles your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service caters to individuals who value consistent guidance and advice as their financial situation evolves, or when they have specific questions about something related to their finances. This model offers monthly updates from our financial advisors, quarterly meetings, and open availability if the need ever arises. While we will not be managing your portfolio, we'll strive to look for opportunities to help you grow and save your wealth.
Wealth Management (best for delegators)
Our wealth management service model is for clients who prefer to hand over the management of their investments and financial planning to professionals. This includes active portfolio management, comprehensive financial strategizing, and forward-looking guidance on a wide range of financial matters — from tax planning and retirement planning to estate planning and beyond. Our wealth management clients enjoy a sense of security, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals committed to maximizing their wealth and realizing their financial goals.
Why Choose Correct Capital as Your Corpus Christi, TX Financial Advisor?
Correct Capital is a leading choice for individuals and families in Corpus Christi, TX looking for reliable, expert financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:
- We are Fiduciary Advisors: As fiduciaries, Correct Capital are legally obligated to act in your best interests. This commitment guarantees that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is done with your best interests in mind.
- Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Our independence means we are not tied to any financial institution or product, enabling us the freedom to select the best investments and strategies for you.
- Our Qualifications: We are a Registered Investment Advisor (RIA), which allows us access to a wide variety of investment solutions and research. Our advisor team includes a couple of CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Moreover, our retirement consultants and financial portfolio managers boast over 100 years of combined experience.
- Proactivity is Our Approach: We hold the belief that the most valuable way to create long-term financial security is to stay ahead of trends and lead, rather than follow. Leveraging the latest data and software to analyze trends, our aim is to craft the most appropriate strategy for your needs.
- Ongoing Education and Resources: Correct Capital offers quarterly webinars and workshops aimed at keeping you up-to-date and engaged with your financial health. Our dedication to client education guarantees that you are fully prepared to make informed decisions alongside your advisor.
Choosing Correct Capital as your financial advisor in Corpus Christi, TX means partnering with a team dedicated to your financial success. Our experience, fiduciary commitment, and custom-tailored approach to financial planning and investment management make us the perfect choice for individuals and families looking to achieve their financial goals and secure their future.
Other services we offer in Corpus Christi, TX include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
- Self-Employed Retirement Plans
Call Correct Capital's Corpus Christi, TX Financial Advisor Team Today
Your money and the choices you make with it are inherently personal. At Correct Capital, we strongly believe in the relationship between a person, household, or business owner in Corpus Christi, TX and their financial advisor is based on trust. Dedicating our lives to guiding our clients achieve their financial and personal goals, be it funding higher education for your children or finally achieving the dream of owning that dream car during your retirement years. Reach out to our Corpus Christi, TX financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards growing your wealth in the manner you desire.
