Asset Management in Columbia, IL. Financial planning and asset management can be complex ventures. Even the most financially literate Columbia, IL residents may find it demanding to follow market trends and recognize exactly how to best position. 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 877-930-4015 or contact us online to learn more about what Correct Capital's Columbia, IL asset management team can do for you.
Our company was founded on the concept of offering truthful and unbiased counsel to Columbia, IL individuals and families. Our asset management philosophy is to serve the client and only the client. We utilize our decades of experience and in-depth research and analytics to help you build for your ideal future, no matter how near or far that may be.
What Is Asset Management? | St. Louis, MO Financial Planning
The phrase asset management refers to the operation of managing a client's money and other financial resources in order to realize their financial goals. Asset management clients can be either Columbia, IL individuals and families or companies. An asset can be cash or cash equivalents, stocks, bonds, real estate, master limited partnerships, or private equity.
When managing a client's assets, a professional and dependable asset manager will evaluate their client's unique risk tolerance and preferences and combine them with their knowledge 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 helps us eliminate the gap between our Columbia, IL clients' extant financial situation and their ultimate financial goals.
Establishing a Plan to Effectively Manage Your Assets
A financial asset management plan will help you make informed decisions about your income and savings. However, creating a plan by yourself is a risky endeavor many who don't have the time or knowledge to actively build their wealth on their own. That's where your financial advisor in Columbia, IL comes in. Correct Capital's wealth management team can assist you by:
Evaluating Your Current Financial Situation
The first step in building a financial roadmap is having a good sense of where you are now. To do this, you need to look at your assets, cashflow, and debts. Here are some essential 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 existing financial situation, you can start to look at destinations.
Setting Goals and Objective
After you have assessed where you are now, the following step is to make specific objectives. These aims should be aligned with the vision you have for your life. Those aims may include:
- Saving for retirement
- Saving for your childrens' education
- Building an emergency fund
- Reducing debt
- Leaving an inheritance for the next generation
- Greater travel and leisure
- Philanthropy
If you're prioritizing your retirement funds, would you rather spend your golden years in luxury or on your porch? 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 what you want to do with your money, the more detailed and precise your plan will be.
Creating a Diversified Portfolio
Once you've established where you want to go, the next part of the process is to start creating a diversified portfolio. A diversified portfolio is a group of investments that consists of a combination of traditional or alternative assets. Diversification decreases how much risk you take on by investing in a variety of different assets or securities, so that one poor-performing asset doesn't put the rest of your plan at risk. 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 the impact of industry-specific losses.
- 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.
- Alternate investments such as real estate, private equity, and commodities to diversify your portfolio beyond traditional asset classes.
Reviewing, Monitoring, and Rebalancing
Lastly, it's essential to partner with a St. Louis financial advisor who will review, monitor, and rebalance your portfolio regularly. This involves checking your investments consistently to ensure that they are performing as expected and making adjustments as necessary. Rebalancing and risk assessment should be done every year to ensure your strategy still aims towards your goals. Our check-up meetings can occur once a year or after major life events.
Life comes at you – 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 Columbia, IL
Every Columbia, IL resident's financial situation is as unique as they are themselves. When you decide on Correct Capital's financial advisors for your asset management, our first step is to get to know you as an individual. Wherever you are now and wherever you want to go, we are here to be your financial advocate. We offer every client with a bespoke financial gameplan that prioritizes finding the best options for growing their wealth. Our asset management team offers advice with:
- 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 under the belief that trust is foundational to our relationships with our Columbia, IL clients. When you trust us with your wealth, you are also trusting us with your future. We aim to build a relationship with you in order to recognize your short and long-term goals and risk tolerance. We offer honest advice to find your preferred asset allocation and help anticipate your future tax implications.
Why You Should Choose Correct Capital's Columbia, IL Financial Advisors for Your Asset Management
There are innumerable "financial planning" advertisements all over Columbia, IL, and figuring out who to trust is hard difficult. Anyone is allowed to advertise as a "financial advisor," but our asset management team at Correct Capital has titles that can only be earned through years of education and experience and by conforming to strict legal regulations. Below are just a few of the aspects that make our company stand out among other financial advisors and asset managers.
Fiduciary Advisors
Fiduciary advisors must give their Columbia, IL clients the highest standard of care. A fiduciary advisor is legally compelled to provide you with:
- A duty of care, in which the financial advisor serves the client with the competence, diligence, skill and, knowledge that a prudent professional typically would; and
- A duty of loyalty, in which your financial advisor must strive to avoid conflicts of interest, reveal them when they are unpreventable, and manage them in your best interest.
As a fiduciary advisor, our Columbia, IL asset management team only works for you. When you hire us, you can be confident that your assets will be managed by experienced professionals who know the solutions for growing wealth.
Our I.O.U. Promise
At Correct Capital our financial advisors offer financial advice that is independent, objective, and unbiased. Even accomplished Columbia, IL investors often find the full extent of asset management convoluted and fatiguing. When you put your financial future in our trustworthy hands, we do what's best for you and only you. As we are not pledged to any large institution, we are not constrained in the offerings and products we have access to and advise.
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. Moreover, being an RIA gives us access to a wide range of investment tools, research, and in-depth analytics. You want to be confident that your hard-earned money is being managed by financial advisors who know what they're doing and have your best interest at heart. In addition to being a fiduciary, an RIA, and having experienced retirement counselors, our Columbia, IL Asset Management team is comprised of 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 won't just invest your wealth in the S&P 500 and assume that the market will grow your wealth for you. We look at a full scope of investment options including ETFs, mutual funds, alternative investments and more to put you in position to realize your financial goals. We follow the latest market trends and aim to foresee movements in order to stay ahead of the curve. We are active and driven in our efforts to help our Columbia, IL clients get the most out of our asset management.
Clink on the links below to see what other financial services we offer:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
- 401(k) For Small Business
- Small Business Retirement Plans
- Tax Planning
Call Correct Capital Today for Personalized Asset Management Services in Columbia, IL
Your money is the outcome of your hard work and the vision you have for yourself and your Columbia, IL family. Savvy, active, and bespoke asset management is an essential aspect of planning for your future and ensuring you get the most out of your hard work. Correct Capital's financial advisors and asset management team are legally and ethically compelled to manage your assets in your best interest. Furthermore, we are sincerely invested in seeing Columbia, IL residents realize their dreams. We utilize our experience, knowledge and in-depth research to best assist our clients fulfill their financial goals. Call us today 877-930-4015 or contact us online to get started on achieving your financial dreams.
