Financial Advisor in Anchorage, AK. Your hard-earned money deserves attention, and you want to be secure about how it's being managed and how it's being used. Numerous Anchorage residents do not have the financial literacy to feel confident they're making the right decisions with their money, while others are too busy or interest to stay informed on market trends along with new laws, regulations, and global events. That's when you should consider hiring a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Anchorage, AK will help your finances grow. We utilize in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Anchorage, AK and beyond. Call us today at 877-930-4015 or contact us through our website to learn how Correct Capital can help you.
Uncertain if you're ready to hire a financial advisor in Anchorage, AK? Check out our process page to find out how easy we make it to determine if you're a good fit.
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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 reported that 53 percent of American adults are anxious about their finances. A source of that anxiety is frequently simply not being sure they're managing their money correctly. After our Anchorage, AK financial advisor team gets to know you, your finances and your financial ambitions, we'll build a road map to help you realize 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 put forward. Our financial advisors in Anchorage, AK have certifications that can only be obtained through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who helps individuals oversee their money, plan their finances, save, and prepare for their financial future. This broad definition includes a spectrum of services, from investment 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 call themselves a financial advisor or financial planner, trustworthy and professional advisors will have qualifications from regulatory bodies such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.
Types of Financial Advisors in Anchorage, AK
Financial advisors can operate under different titles:
- Investment Advisors or Portfolio Managers: These professionals offer advice on securities and manage investment portfolios. They often work in RIAs and are required to serve as fiduciaries, putting their clients' interests above their own. Portfolio managers are certified with either the Securities and Exchange Commission (SEC) or state regulators, based on the size of the assets they manage.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds on behalf of their clients or for their own accounts. They must register with the SEC and are usually members of FINRA. The financial products they can sell are determined by their specific licenses, such as Series 6 or Series 7. For example, someone who holds a Series 7 license is qualified to sell general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP certification have undergone extensive education and adhere to high ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs offer a wide array of financial advisory services, such as debt management to retirement planning, and estate planning. Their methodology is comprehensive, intended to address all aspects of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed education similar to CFPs and also adhere to a fiduciary duty. They specialize in offering comprehensive financial advice, covering areas such as investment management to retirement strategies, guaranteeing that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Focus on enhancing clients' financial literacy, guiding with fundamentals such as saving money and creating budgets. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching delivers a strong basis for managing personal finances wisely, particularly for those in the early stages of financial planning.
- Wealth Managers: Cater to high-net-worth individuals, offering comprehensive services that encompass estate planning, tax help, and investment management. They partner closely with their clients to handle complex financial situations and develop wealth preservation strategies. Their expertise is geared towards enhancing the financial health and future of affluent clients, ensuring that all investments and planning strategies meet customized advice and approaches.
Each type of financial advisor serves different needs, and the best choice depends on an individual's or organization's specific financial situation and goals. At Correct Capital, our group of advisors features CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, ensuring that we act solely in the best interest of our clients in all of our advice and dealings.
What Does a Financial Advisor Do?
A financial advisor will examine your current finances, pinpoint methods to enhance it, and help you accomplish your long-term financial goals. A lot of Anchorage, AK residents frequently immediately think of investing when they think of wealth management services and financial advisors. While that is a crucial component of any financial plan, a qualified financial advisor will be able to give you all-encompassing financial advice that takes into consideration the whole of your finances. Below are some of the services your Correct Capital financial advisor in Anchorage, AK will implement in order to help you meet your objectives.
- Financial Planning
Our finances are involved in almost anything we do, from making sure we're prepared for retirement, to paying for college, buying and/or selling a home, picking insurance policies, and putting food on the table each night. The best financial advisors in Anchorage, AK offer all-encompassing services and bespoke advice by evaluating your entire financial situation.
- Tax Planning
Taxes are involved almost any time money is exchanged or used. According to the IRS's own data, more than 7 out of 10 of Americans overpay in taxes every year. The United States tax code is notoriously complex, yet it allows for perfectly legal means to lower your taxes. A skilled and ethical Anchorage, AK financial advisor will help you navigate your tax implications in the interest of keeping more money in your own account.
- Portfolio Management and Asset Management
Your financial portfolio is the assembly 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 Anchorage, AK will help in allocating and diversify your assets in order to mitigate risk and strategically position your money for long-term success.
- Retirement Planning
Depending on where you currently are in life and your aspired lifestyle when you retire, your Anchorage, AK financial advisor will help with tax implications, evaluating the best age to retire, when to withdraw money and how much to take out. A financial advisor will assist in formulating a budget and plan for source of income in retirement so you can enjoy your golden years just how you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Anchorage, AK businesses and business owners. Setting up a 401(k) plan is a superb way to maintain your best employees and keep them productive and happy. Our retirement consultants represent over $218 million in plan assets and hundreds of plan participants nationwide. Our Anchorage, AK financial advisor team offers extensive 401(k) planning for companies as well as customized benefits for their employees.
- 401(k) Rollover
When transitioning to a new job, it can be difficult to know the best way to handle the money you've accumulated in a previous Anchorage, AK employer's 401(k) plan. You have several options, such as keeping the money in the account it is in now, moving it to a new 401(k), or putting the money in one of a selection of IRA accounts. A financial advisor will have the knowledge how to best navigate handling your 401(k) funds.
- Generational Wealth Transfers
You earn your money, and it's common to desire to leave a legacy and leave some wealth to the people you care about the most. Wealth transfers are distinct from simply leaving gifts behind in estate planning. A financial advisor in Anchorage, AK can strategically plan your money for not only 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 imperative to pick one who has earned accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Anchorage, AK financial advisor at Correct Capital is bound by 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 tailored debt management plans that focus on managing debt, securing lower interest rates if feasible, and structuring repayments. The goal is to create a manageable path forward that suits your financial situation and goals, ultimately leading to stability.
- Budgeting
Creating and staying compliant with a budget is fundamental to achieving financial health and goals. Financial advisors in Anchorage, AK can help clients comprehend your income level, spot areas for savings, and set realistic spending limits that facilitate growing your wealth. By providing resources and strategies for efficient budgeting, advisors make sure that clients can satisfy their current financial obligations while also saving for future goals.
When you hire a Anchorage, AK financial advisor at Correct Capital, we start by getting to know you and your objectives. We will assess your current income, assets, investments, debts, and expenses. Then we've accomplished that, we'll work in tandem with you to determine your preferred risk tolerance and how we can best help you grow your wealth. As an independent advisory firm, our only priority is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can propose, 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 Anchorage, AK?
Seeking the advice of a financial advisor can be a vital step towards achieving financial well-being, peace of mind, and wealth. While the ideal moment can vary widely from person to person, certain life events and circumstances often suggest the need for expert financial advice.
- Major Life Changes: Life is a series of changes, and many of them have significant financial implications. Whether you're starting a family or facing retirement, these milestones can profoundly affect your financial landscape. A financial advisor can assist you through these changes, ensuring that your financial plan grows to meet your new situation and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances By Yourself: Managing personal finances can be complicated, demanding, and, frankly, overwhelming for many. If you don't have the knowledge to effectively manage your investments, or simply choose to spend your energy on other pursuits, a financial advisor can be crucial. They bring insight and objectivity to your financial decisions, aiding to enhance your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
- Getting Close to Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can help you assess your current financial situation, determine your retirement needs, and formulate a plan to ensure you can enjoy 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 wide array of investment options, many of which come with their own challenges. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's knowledge can be essential. They can help 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 especially so when it comes to your hard-earned money. In addition to finding a reliable advisor, you need one whose specialties align with your needs. It's important to inquire properly during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's background, including their years in the industry, the kinds of clients they've worked with, and their specializations, can provide you a sense of their skills and whether they're prepared to manage your financial needs.
- What are your qualifications and certifications?
Ask about any certifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require fulfilling rigorous educational, experience, and ethical standards, signifying a high level of expertise and expertise.
- Can you describe 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 dynamic strategy, their philosophy should resonate with your aspirations and expectations.
- How do you prefer to communicate with clients?
Communication style and frequency are vital to a fruitful client-advisor relationship. Inquire about how often you'll have meetings, whether they'll be in person or virtual, and how the advisor plans to keep you informed about your investments and financial plan.
- How are you compensated for your services?
Advisors can be either get money from fees/a percentage of your assets, commission from selling financial products, or a mixture thereof. Grasping how an advisor is compensated will enable you to discern potential biases and make certain that their recommendations are offered with your best interests in mind.
- Are you a fiduciary financial advisor?
Confirming that an advisor acts as a fiduciary is vital. This means they are legally required to put your interests ahead of their own, providing advice that best serves 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. Knowing 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 address them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must make known conflicts of interest, and are required to 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 assist you in determining 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 Anchorage, AK?
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 other financial products. This fee structure can lead to a possible conflict, as the advisor could be motivated to recommend products that generate higher commissions instead of those that are most suited to your financial goals. These advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to advise on 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 directly by their clients for the guidance and assistance they provide and do not receive any commissions from product sales. This compensation can take various shapes, including a percentage of the assets under management (AUM). This model is frequently regarded as more clear and aligned with the client's best interests, as it minimizes conflicts of interest related to product sales.
- Fee-Based: Advisors with a fee-based approach use a combination of fees paid by the client and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, such advisors generally also have a fiduciary duty, which means that although they get commission from certain products, they must disclose that information 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 Anchorage, AK
Correct Capital is distinguished in the Anchorage, AK financial advisory landscape for its customized approach to wealth management and financial planning. Understanding that not all clients have the same starting point or the same goals, we offer a variety of service models to our clients in Anchorage, AK:
One-Time Financial Plan (best for validators)
This service model is ideal for those who are seeking the guidance and recommendations a financial advisor can offer without the continuous oversight. This service is great for individuals who are largely confident in managing their finances but seek professional insight to ensure they're doing things the right way. Our team conducts a thorough review of your financial landscape, providing you with a detailed plan that tackles your specific goals, concerns, and opportunities for growth.
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 taxes, investments, or other aspects of their finances. This model offers monthly insights from our financial advisors, regular check-ins every quarter, and open availability if the need ever arises. While we won't be managing your portfolio, we'll strive to look for opportunities to help you flourish financially.
Wealth Management (best for delegators)
Our wealth management service model is for clients who choose to hand over the management of their investments and financial planning to professionals. This includes active investment management, strategic financial planning, and forward-looking guidance on a wide range of financial matters — from tax planning and preparing for retirement to estate considerations 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 Anchorage, AK Financial Advisor?
Correct Capital is a leading choice for individuals and families in Anchorage, AK looking for trusted, professional 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 is legally obligated to act in your best interests. This commitment guarantees that each piece of advice, each investment recommendation, and each strategic move 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.
- Professional Credentials: 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 in-depth research and analytics, we prepare the most appropriate strategy for your needs.
- Continuous Learning Opportunities: Correct Capital offers quarterly webinars and workshops to keep you informed and engaged with your financial health. Our commitment to client education ensures that you are fully prepared to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Anchorage, AK means joining forces with a team committed to your financial success. Our experience, fiduciary commitment, and personalized approach to financial planning and investment management make us the ideal partner for individuals and families seeking to achieve their financial goals and secure their future.
Other services we offer in Anchorage, AK include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
Call Correct Capital's Anchorage, AK Financial Advisor Team Today
Your money and the decisions you make with it are inherently personal. At Correct Capital, we strongly believe in the relationship between a person, family, or entrepreneur in Anchorage, AK and their financial advisor is founded on mutual trust. Committed to helping 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 in retirement. Contact our Anchorage, AK financial advisor team today at 877-930-4015 or start a conversation with us online to take the first step towards building your wealth how you've always wanted.