Fiduciary Financial Advisor in Anaheim, CA

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Fiduciary financial advisor in Anaheim, CA. For Anaheim, CA residents who don't have the free time, skill, or inclination to oversee their assets and retirement accounts themselves, working with a financial advisor is a great way to help meet their financial goals. Trust is paramount in that partnership, and whether you're planning for retirement, seeking to grow your wealth, or ensuring a safe financial future for your family, you need a financial advisor who you know will be an honest steward of your assets. By working with a fiduciary financial advisor in Anaheim, CA, you'll gain a partner who has a legal and ethical obligation to put your own best interests first.

At Correct Capital Wealth Management, our Anaheim, CA fiduciary financial advisors won't ever recommend a solution, investment, or plan that we don't truly believe in ourselves. For financial advisors that adhere to the fiduciary standard and operate with your best interest in mind, reach out to Correct Capital today at 314-930-401(k), contact us online, or schedule an appointment with a member of our advisor 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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What Is a Fiduciary?

A fiduciary is a individual or organization that occupies a position of trust and responsibility when managing assets, monetary matters, or legal matters for another person. Fiduciaries are legally and ethically bound to act in the best interests of the person or organization they are serving, often known as their "principal" or "beneficiary". This duty of loyalty and duty of care is referred to as the fiduciary standard.

Frequent examples of fiduciaries are:

  • Trustees — Individuals or organizations charged with handling and monitoring assets held in a trust for the advantage of beneficiaries.
  • Executors — Individuals appointed to manage the estate and assets of a decedent as per their will or the law.
  • Financial advisors — Professionals who give financial advice and handle investments for clients, with an responsibility to prioritize the client's financial well-being.
  • Corporate directors — Representatives of a company's board of directors who are bound to shareholders to try and increase their profit.
  • Guardians — Individuals designated by the court to make decisions on behalf of people under 18 or persons who are not able to make decisions for themselves.
  • Attorneys — Legal professionals who are obligated by a fiduciary duty to act in the best interests of their clients when managing their legal affairs.
  • Real estate agents — Experts who help clients in purchasing, selling, or renting properties and are required to act in the best interests of their clients in real estate transactions.

Good Faith, Duty of Loyalty, and Duty of Care

There are three important aspects to understanding fiduciary duty:

1. Good Faith

Fiduciaries are obligated to act in "good faith," which means they interact with their clients or beneficiaries with integrity, with genuine intention, and without any intention to mislead or harm the interests of their beneficiaries. They must consistently act honestly and with the best interests of the clients at the forefront.

2. Duty of Loyalty

Fiduciaries owe a "duty of loyalty" to the beneficiary, which means they must prioritize the beneficiary's interests ahead of their own. They should eschew any conflicts of interest that might compromise their capability to act only in the client's best interests. Every conflicts of interest must be disclosed to the client and the advisor has to still act with the client/beneficiary's interest above their own.

3. Duty of Care

Fiduciaries have a "duty of care" to apply the level of care, skill, and diligence that a prudent person would use in the same or similar situations. They must make well-informed and careful decisions when overseeing assets or making decisions on behalf of their client or beneficiary. This duty confirms that they do their best to safeguard and increase the assets within their care while minimizing risks.

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What Is a Fiduciary Financial Advisor in Anaheim, CA?

Financial advisors help Anaheim, CA individuals, families, and business owners achieve their life goals as they relate to their finances. These services comprise investment recommendations, retirement consulting, tax planning, estate planning, asset management and others.

Anyone in Anaheim, CA can call themselves a "financial advisor," but to say that they're a fiduciary, an advisor must be registered with the SEC, and is legally required to abide by fiduciary duty, and as a result, must put clients’ interests ahead of their own. They have to have accreditations and certifications from industry organizations such as the CFP Board and Fi360. Obtaining and retaining these certifications necessitate persistent education and a strict moral standard.

As an example, fiduciary financial advisors with a CERTIFIED FINANCIAL PLANNER™ certification must adhere to the CFP Board's Code of Ethics and Standards of Conduct to:

  • Act with honesty, integrity, competence, and diligence
  • Act in the client’s best interests
  • Exercise due care
  • Avoid or disclose and manage conflicts of interest
  • Maintain the confidentiality and protect the privacy of client information
  • Act in a manner that reflects positively on the financial planning profession and CFP® certification

Are All Financial Advisors in Anaheim, CA Fiduciaries?

Not all financial advisor in Anaheim, CA are fiduciaries. The key reason is that financial advisors can function under different regulatory frameworks and compensation structures, leading to varying standards of care:

  • Regulatory framework — Financial advisors might be subject to various regulatory oversight based on their business model. For example, Registered Investment Advisors (RIAs) are usually fiduciaries. Conversely, some advisors (for example, those falling under a broker-dealer model) function under the suitability standard, which demands advice to be appropriate for clients but doesn't require the same duties of loyalty and care.
  • Compensation structure — The manner financial advisors are compensated can affect their fiduciary status. Fiduciary advisors typically charge a percentage fee for their services, rendering their compensation transparent and minimizing conflicts of interest. Non-fiduciary advisors typically receive commissions or other forms of compensation linked to product sales, which means they may make recommendations that are more in their interest than yours.

The Prudent-Person Rule

Fiduciary financial advisors are required to abide by the Prudent-Person Rule, commonly known as the prudent investor rule. The rule acknowledges that financial advisors cannot predict the future or know which investments will be profitable with 100% certainty, but mandates that a fiduciary financial advisor purchase investments that a reasonable person would purchase considering an acceptable risk in light of the client's goals and investment objective.

The prudent person rule is an early common law principle, and was eventually unified with the Uniform Prudent Investor Act. Each state can apply their own particular laws. Missouri law, for example, stipulates that fiduciary financial advisors must consider:

  • Overall economic conditions
  • Potential inflation or deflation
  • Expected tax consequences of investments
  • The role that each investment or approach plays within your portfolio
  • Expected return and appreciation of capital
  • Additional assets and resources you have
  • Your needs for liquidity, income, and preservation of capital
  • An asset's unique relationship or value to you, if any
  • The size and nature of your portfolio, its distribution requirements, and the expected duration of your relationship with the fiduciary financial advisor

Fiduciary Duty vs. Suitability Standard: What’s the Difference?

Advisors who operate under the “suitability rule” are only required to recommend investment products or financial products that match your objectives, while advisors with a fiduciary duty must operate in your best interest. Here are some key differences:

Fiduciary Duty

  • Legal Responsibility: Fiduciary financial advisors are legally and ethically obligated to act in their clients' best interests at all times.
  • Client's Best Interest: Financial advisors must focus on the client's financial health over their own profit.
  • Full Disclosure: They must disclose all conflicts of interest, ensure transparency, and deliver the highest level of care in their recommendations and actions.
  • Oversight: Regulated by the Investment Advisers Act of 1940, which mandates that investment advisors have a fiduciary duty to their clients.
  • ExamplesInstances: Registered Investment Advisors (RIAs) and CERTIFIED FINANCIAL PLANNER™ professionals.

Suitability Standard

  • Suitability: Advisors only need to ensure that their suggestions are appropriate for the client’s financial needs and objectives at the time of the transaction.
  • Reduced Care Standard: Financial advisors can take into account their own interests as long as the recommendations are suitable.
  • Potential Conflicts: Financial advisors may earn commissions from the sale of investment products, which can create conflicts of interest.
  • Governance: Governed by the Financial Industry Regulatory Authority (FINRA), which requires a “reasonable basis” that an investment is appropriate for the client.
  • Examples: Some broker-dealers and insurance agents.

Best Interest vs. Reasonable Basis

The Investment Advisers Act of 1940 requires that fiduciary advisors must act in their clients' "best interest," while FINRA Rule 2111 requires that dealer-brokers and other non-fiduciaries only have a "reasonable basis" for their suggestions. Here's a summary of what those terms mean in relation to managing a client's investments and financial planning:


Best Interest Reasonable Belief
Definition Requires financial advisors to act in the client's optimal financial interest. Demands advisors to recommend suitable products or strategies based on provided information.
Standard of Care Superior level of care ensuring every action matches with the client's best outcome. Makes certain recommendations are appropriate and make sense for the client's circumstances.
Client-Centric Approach Financial advisors focus on client's goals, needs, and preferences above their own. Financial advisors base suggestions on the client's stated financial situation, objectives, and risk tolerance.
Transparency Full disclosure of potential conflicts of interest is necessary. More relaxed disclosure requirements, as long as the suggestion is proper.
Due Diligence Suggestions based on a comprehensive evaluation of the client's financial situation. Recommendations based on reasonable research and analysis.
Ongoing Duty Unceasing duty to act in the client's best interest, necessitating regular reviews and updates. Focuses on the appropriateness of advice at the time of the recommendation, with reduced focus on ongoing oversight.
Conflict of Interest Must disclose and handle conflicts openly, ensuring clients are aware of potential biases. Conflicts are more loosely governed, as long as the suggestion remains suitable.
Long-Term Commitment Advisors have a continuous obligation to monitor and adjust the client's financial plan. Periodic reviews are suggested, but the focus is on the suitability of initial recommendations.

Benefits of Working with a Fiduciary Financial Advisor in Anaheim, CA

Opting to collaborate with a fiduciary financial advisor in Anaheim, CA provides an array of advantages that can significantly influence your financial health:

  • Fiduciary financial advisers must act in your best interest and maintain ethical standards
  • Full disclosure of essential materials and facts and full transparency with issues like risks, fees, and potential conflicts of interest, permitting you to make the best decisions for you and your Anaheim, CA family
  • Handle investments on your behalf by leveraging their expertise to craft and handle a diversified portfolio that resonates with your goals and strategies
  • Thorough financial planning and a full approach to your financial well-being, considering all facets of your financial life to create a personalized approach
  • Continuous monitoring and guidance to ensure your financial plans and investments continue to be in line and that you can adjust to any surprises the market or life gives your way
  • Diminished risk with sensible and responsible investment choices made by carefully assessing the risk tied to each investment and tailoring your portfolio to match your risk tolerance
  • Peace of mind that your best interests are being watched over by knowledgeable financial advisors
  • A long-term relationship with a fiduciary financial advisor that grasps your financial goals evolve over time, and life scenarios change

What Financial Planning Services Do Fiduciary Advisors Offer?

At Correct Capital Wealth Management, our all-encompassing financial planning services are crafted to offer you with a holistic approach to meeting your financial goals. Our team of fiduciary financial advisors in St. Louis works diligently to comprehend your unique financial situation and adapt strategies that match your life aspirations.


Tailored Financial Roadmap

We begin by performing a thorough analysis of your current financial status, including income, expenses, assets, and liabilities. This helps us create a personalized financial roadmap that meets your short-term needs and long-term objectives.


Investment Portfolio Management

We develop personalized strategies to balance your portfolio, making sure your risk tolerance aligns with your time horizon. Our team consistently monitors and adjusts your investments to meet your financial goals, making sure that your portfolio remains robust and adaptable to changing market conditions.


Retirement Planning

Planning for retirement is a foundation of our comprehensive financial planning. We help you navigate the complexities of retirement accounts, social security benefits, and income strategies to make certain you can retire with ease and safely.


Tax Planning

Effective tax planning ensures more of your hard-earned money out of Uncle Sam's hands. Our advisors are well-versed in tax laws and strategies that can reduce your tax liability and improve your overall financial health.


Estate Planning

We also provide informed guidance on estate planning to help you preserving your legacy. From wills and trusts to estate tax strategies, we make certain your assets are passed on according to your wishes while lowering tax burdens.


Continuous Oversight

Financial planning is not a one-time event but a ongoing process. We provide ongoing monitoring and periodic reviews to adapt your financial plan to any changes in your life circumstances or economic environment.


Client-Centric Approach

At Correct Capital, our approach is highly client-centric. We take pride in building lasting relationships based on trust, transparency, and personalized service. Your financial well-being is our top priority, and we are dedicated to helping you reach your financial goals with integrity and excellence.

Other services we offer in Anaheim, CA include:


Choose Correct Capital as Your Anaheim, CA Fiduciary Financial Advisor

Choosing a financial advisor in Anaheim, CA with a fiduciary duty is vital to guarantee your long-term interests remain protected. At Correct Capital Wealth Management, we are honored to be fiduciary financial advisors who prioritize the financial success and peace of mind of Anaheim, CA residents and business owners equally. Our team includes CERTIFIED FINANCIAL PLANNER™ (CFP®) professionals and we are a Registered Investment Advisor (RIA) with the expertise and qualifications needed to guide you on your financial journey. We provide all our clients our I.O.U promise: all of our advice will be independent, objective, and unbiased.

Get in touch with us today at 314-930-401(k) or contact us online to schedule an appointment and discover how we can assist you attain your financial goals in Anaheim, CA.

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