Asset Management in St. Louis, MO. Financial planning and asset management can be complicated endeavors. Even the most financially literate St. Louis residents may find it hard to stay on top of market trends and know exactly how to best position their money for growth. At Correct Capital, our financial advisors and asset management team have every resource and capability to help you meet your financial goals. Call us today at 314-930-401K or contact us online to learn more about what Correct Capital's St. Louis asset management team can do for you.
Our company was founded on the principle of giving honest and unbiased advice to St. Louis individuals and families. Our approach to asset management serves the client and only the client. We use our decades of experience and in-depth research and analytics to help you build for your ideal future, however near or far that may be.
What Is Asset Management? | St. Louis, MO Financial Planning
The term asset management refers to the practice of managing a client's money and other financial resources in an effort to meet their financial goals. Asset management clients can be either St. Louis individuals and families or companies. An asset may be cash or cash equivalents, stocks, bonds, real estate, master limited partnerships, or private equity.
When managing a client's assets, a good and reliable asset manager will look at their client's unique risk tolerance and preferences and combine them with their experience and research to find the best investment options for them personally. The fiduciary mindset of Correct Capital's asset management team along with our experience and research capabilities allows us to bridge the gap between our St. Louis clients' current financial situation and their ultimate financial goals.
Creating a Financial Asset Management Plan
A financial asset management plan is a roadmap that can help you make informed decisions about your money. It's a blueprint for managing your assets and creating a diversified portfolio that aligns with your long-term financial goals. However, creating a plan on your own can be overwhelming and time-consuming for many who don't have the expertise or interest to manage their assets themselves. That's where your St. Louis financial advisor comes in. Correct Capital's wealth management team can provide experienced asset management by:
Assessing Your Current Financial Situation
The first step in building a financial roadmap is understanding where we're starting from. This involves looking at your income, expenses, debts, and assets. Here are some key questions for you and your financial advisor consider:
- What is your current income?
- What are your monthly expenses?
- How much debt do you have, and what are the interest rates on your debts?
- What assets do you have, and what are their values?
Once you and your St. Louis financial advisor have a clear understanding of your current financial situation, you can start to look at where you want your roadmap to take you.
Setting Goals and Objective
Once you have assessed your financial situation, the next step is to set specific, measurable, and achievable goals and objectives. These goals should be aligned with your personal values and long-term financial objectives. Those goals may include:
- Saving for retirement
- Saving for your childrens' education
- Building an emergency fund
- Paying off debt
- Leaving a financial legacy for the next generation
- Greater travel and leisure
If you're saving for retirement, would you prefer to spend your golden years in luxury or in your garden? If you want to build an inheritance, how many beneficiaries are there, and how much do you want each to receive? The more your financial advisor understands your goals, the more detailed and precise your plan will be.
Building a Diversified Portfolio
Once you've set your goals and objectives, it's time to start building a diversified portfolio. A diversified portfolio is a collection of investments that includes a mix of asset classes. Diversification helps to reduce risk by spreading your investments across different asset classes and sectors, so that if one part of your portfolio doesn't do well, they don't all suffer. Strategies for portfolio diversification include:
- Asset allocation into a range of investment options, including stocks, bonds, mutual funds, EFTs, and/or limited partnerships.
- Geographic diversification into different countries and regions to reduce your exposure to local economic events.
- Sector diversification to reduce industry-specific risk.
- Time diversification, meaning investing in assets with different time horizons, to minimize volatility.
- Tax diversification to account for the different ways different investments are taxed and limit your tax liability.
- Alternate investments such as real estate, private equity, and commodities to diversify your portfolio beyond traditional asset classes.
Reviewing, Monitoring, and Rebalancing
Finally, it's important to work with a St. Louis financial advisor who will review, monitor, and rebalance your portfolio regularly. This involves checking your investments regularly to ensure that they are performing as expected and making adjustments as necessary. Rebalancing and risk assessment should be done regularly to ensure your plan still aligns with your goals. Our monitoring meetings can occur once a year or after major life changes.
Life happens – and changes – fast. With Correct Capital, your financial advisor and wealth management team will adapt with it to ensure your roadmap still leads to your financial goals.
Correct Capital's Approach to Asset Management in St. Louis
Every St. Louis resident's financial needs are as unique as they are themselves. When you choose Correct Capital's financial advisors for your asset management, the first step we take is getting to know you personally. Wherever you are in life and wherever you want to go, we are here to act as your financial advocate. We offer each client a bespoke experience that prioritizes finding the best solutions for growing their wealth. Our asset management team can assist you in:
- 401(k) services and 401(k) rollover
- Retirement planning
- Tax Planning
- Generational wealth transfers
- Education savings for future generations
- Real estate transactions
- Investing your savings
- Insurance policies
At Correct Capital, we operate knowing that trust is the foundation of our relationships with our clients. When you trust us with your money, you are also trusting us with your future. We strive to build a relationship with you in order to understand your short and long-term goals and risk tolerance. We offer unbiased advice to find your preferred asset allocation and help anticipate your future tax implications.
Why You Should Choose Correct Capital's St. Louis Financial Advisors for Your Asset Management
There are a lot of "financial planning" advertisements around, and it can be hard to know who to trust. Anyone can call themselves a "financial advisor," but our asset management team at Correct Capital holds titles that can only be earned through years of education and experience and strict legal compliance. Below are just a few of the aspects that help our company stand out among other financial advisors and asset managers.
Being a fiduciary advisor requires the highest standard of care. A fiduciary advisor is legally obligated to provide you with:
- A duty of care, in which the financial advisor acts with the competence, diligence, skill and, knowledge that a prudent professional normally would; and
- A duty of loyalty, in which your financial advisor must strive to avoid conflicts of interest, disclose them when they are unavoidable, and manage them in your best interest.
As a fiduciary advisor, our St. Louis asset management team works for you and only you. When you hire us, you can trust that your assets will be placed in the trustworthy hands of experienced professionals who understand the keys to growing wealth.
Our I.O.U. Promise
At Correct Capital our financial advisors offer financial advice that is independent, objective, and unbiased. Even experienced St. Louis investors often find the full scope of asset management complicated and draining. When you put your financial future in our trustworthy hands, we do what's best for you and only you. As we are not bound to any large institution, we are not limited in the offerings and products we have access to and recommend.
We Are a Registered Investment Advisor
Registered Investment Advisors (RIA) can only earn their title through the certification of a regulatory body overseeing the firm. Additionally, being an RIA allows us access to a wide range of investment tools, research, and in-depth analytics. You want to be sure your hard-earned money is being managed by people who know what they're doing and have your best interest at heart. In addition to being a fiduciary, and RIA, and having experienced retirement counselors, our St. Louis Asset Management team includes CERTIFIED FINANCIAL PLANNER™ professionals and an Accredited Investment Fiduciary; titles that can only be gained through experience, knowledge, and compliance to regulatory oversight.
We Are Proactive
We don't simply put your money in the S&P 500 and trust in the market to grow your wealth for you. We look at a variety of investment options including ETFs, mutual funds, alternative investments and more to put you in position to meet your financial goals. We stay up-to-date on market trends and seek to anticipate movements in an effort to stay ahead of the curve. We are active and driven in our efforts to help our St. Louis clients get the most out of our asset management.
Call Correct Capital Today for Personalized Asset Management Services in St. Louis
Your money is the result of your hard work and the vision you have for yourself and your St. Louis family. Smart, active, and customized asset management is a key part of planning for your future and making sure you get the most out of your hard work. Correct Capital's financial advisors and asset management team are legally and ethically bound to act in your best interest. Additionally, we are genuinely invested in seeing St. Louis residents achieve their dreams. We utilize our experience, knowledge and in-depth research to best position our clients to meet their financial goals. Call us today 314-930-401K or contact us online to take the first step toward realizing your financial dreams.