Financial Advisor in Arlington, TX

Financial Advisor in Arlington, TX. You work hard for your money, and you want to feel confident about how it's expanding and how it's being used. A lot of Arlington residents lack the financial literacy to feel like they can handle their investments and finances by themselves, while others are too busy or interest to stay informed on financial markets along with new laws, regulations, and global events. That's when you should consider hiring a dependable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Arlington, TX will make your money work for you. We employ in-depth research along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Arlington, TX and beyond. Speak to a team member today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.

Uncertain if you're ready to hire a financial advisor in Arlington, TX? Check out our process page to discover how straightforward we make it to determine if we would make a good team.

A 2018 study by FINRA found that 53 percent of American adults are worried about their finances. A source of that concern is often simply not being sure they're managing their money correctly. After our Arlington, TX financial advisor team gets to know you, your finances and your financial objectives, we'll create a road map to help you reach them. As a fiduciary and an independent firm, every Correct Capital financial advisor is required to act in your best interest and we are not limited in the plans we can endorse. Our financial advisors in Arlington, TX have certifications that can only be awarded through rigorous testing and by meeting strict education requirements.

What Is a Financial Advisor?

A financial advisor is a specialist who provides advice on managing personal finances and investments. This comprehensive definition covers a wide range of services, from investment management and retirement planning to tax planning and generational wealth transfers. 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, trustworthy and professional advisors will have qualifications from organizations such as FINRA and the CFP Board that signify their experience and education.

Types of Financial Advisors in Arlington, 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 advisors 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. Portfolio managers are registered with either the Securities and Exchange Commission (SEC) or state regulators, based on the assets under management.
• Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds on behalf of their clients or for themselves. They must register with the SEC and are usually members of FINRA. The financial products they can sell depend on their specific licenses, such as Series 6 or Series 7. For instance, an advisor 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): Advisors holding the CFP certification have completed rigorous education and uphold high ethical standards, including a fiduciary duty to their customers. CFPs provide a vast spectrum of financial advisory services, such as debt management to retirement planning, and estate planning. Their methodology is all-encompassing, designed to satisfy every aspect of a client's financial life.
• Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed education comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and are also bound by a fiduciary duty. Like CFPs, ChFCs specialize in offering holistic financial advice, encompassing areas such as investment management to tax advice, ensuring that customers' financial goals are met with the highest ethical standards.
• Financial Coaches: Focus on boosting clients' financial literacy, assisting with basics such as saving money and budgeting. They are ideal for clients who might not have the wealth to hire a financial advisor yet. Financial coaching provides a good starting point for managing personal finances effectively, especially for those in the early stages of financial planning.
• Wealth Managers: Cater to high-net-worth individuals, offering comprehensive services that include estate planning, tax assistance, and investment management. They partner closely with their clients to navigate complex financial situations and develop wealth preservation strategies. This expertise is tailored for optimizing the financial health and future of those with substantial assets, making sure that every financial decision is aligned with personalized 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 team of advisors features CFPs and other qualified professionals who embody the highest standards of fiduciary responsibility and personalized service, making sure that we act exclusively in the best interest of our clients across all our engagements.

What Does a Financial Advisor Do?

A financial advisor will analyze your current finances, determine methods to enhance it, and help you achieve your long-term financial goals. A lot of Arlington, TX residents often immediately think of investing when they consider wealth management services and financial advisors. While that is a fundamental element of any financial plan, a knowledgeable financial advisor will be able to provide you with holistic financial advice that takes into consideration the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Arlington, TX will utilize in order to help you realize your objectives.

• Financial Planning

  Our finances are involved in almost everything we do, from making sure we're set up in retirement, to paying for college, real estate transactions, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Arlington, TX offer comprehensive services and bespoke consulting by taking into account your entire financial situation.

• Tax Planning

  Tax considerations play a role almost any time money is exchanged or used. According to the IRS's own data, over 70 percent of Americans pay more than necessary in taxes every year. The United States tax code is incredibly complicated, yet it allows for perfectly legal ways to reduce your tax liability. A reliable and expert Arlington, TX financial advisor will assist you in navigating your tax implications in the interest of keeping more money in your pocket.

• 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 other investments such as real estate. A financial advisor in Arlington, 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 your aspired lifestyle when you retire, your Arlington, TX financial advisor will help with tax planning, considering the best age to retire, when to make withdrawals and how much to withdraw. A financial advisor will aid in creating a budget and plan for where your income will come from 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 Arlington, TX businesses and business owners. Introducing a 401(k) plan is a superb way to retain your best employees and keep them motivated and happy. Our retirement consultants manage over $218 million in plan assets and numerous of plan participants nationwide. Our Arlington, TX financial advisor team offers extensive 401(k) planning for companies as well as personalized benefits for their employees.

• 401(k) Rollover

  When starting a new job, it can be challenging to know the best way to manage the money you've already saved in a previous Arlington, TX employer's 401(k) plan. You have multiple options, such as leaving the money in the account it is currently in, transferring it to a new 401(k), or putting the money in one of a variety of IRA accounts. A financial advisor will be skilled in how to best approach managing your 401(k) funds.

• Generational Wealth Transfers

  You strive for your money, and it's normal to wish to leave a legacy and pass on some wealth to the people you care about the most. Wealth transfers are different from merely leaving gifts behind in estate planning. A financial advisor in Arlington, TX can strategically plan your money for both your children but for future generations to come, even ones you haven't met yet.

• Fiduciary Advising

  Anyone can give themselves the title of "financial advisor," so it's important to choose one who has obtained accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Arlington, TX financial advisor at Correct Capital is bound by a "Code of Ethics and Standards of Conduct" to:

1. Act with honesty, integrity, competence, and diligence.
2. Act in the client's best interest.
3. Exercise due care.
4. Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
5. Maintain confidentiality and protect the privacy of client information.
6. 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 structuring repayments. The goal is to create a practical path forward that aligns with your financial situation and goals, eventually leading to stability.

• Budgeting

  Creating and staying compliant with a budget is fundamental to having the financial health and life you want. Financial advisors in Arlington, TX can assist clients grasp your income level, identify areas for savings, and set realistic spending limits that facilitate wealth accumulation. By providing resources and strategies for successful budgeting, advisors guarantee that clients can fulfill their current financial obligations while also planning for future goals.

When you hire a Arlington, TX financial advisor at Correct Capital, we begin by getting to know you and your objectives. We will evaluate your current income, assets, investments, debts, and expenses. Once we've done that, we'll work in concert with you to establish your preferred risk tolerance and how we can best help you realize your goals. As an independent advisory firm, our only responsibility is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can offer you, 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 Arlington, TX?

Seeking the advice of a financial advisor can be a key step towards getting the life and financial health you want. While the optimal timing can differ greatly from person to person, certain life events and circumstances often suggest the need for expert financial advice.

• Major Life Transitions: Life is a long line of changes, and many of them have significant financial implications. Whether you're buying a home or changing careers, these milestones can dramatically affect your financial landscape. A financial advisor can help you through these changes, ensuring that your financial plan evolves to meet your changing circumstances and goals.
• Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complex, demanding, and, frankly, daunting for many. If you don't have the knowledge to effectively manage your investments, or simply choose to spend your time on other pursuits, a financial advisor can be essential. They bring expertise and wisdom to your financial decisions, helping to optimize your portfolio, prevent 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, calculate your retirement needs, and craft a plan to ensure you can enjoy your retirement years with peace of mind. 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 set of 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 essential. They can assist you comprehend the risks and benefits, ensuring that any investment fits your overall financial strategy and goals.

Questions to Ask a Financial Advisor Before Hiring Them

Trust is essential whenever you hire someone to do something, but especially so when it involves your finances. Beyond just finding a trustworthy advisor, you need one who perfectly matches your needs. It's important to ask the right questions during your initial meetings. Here are key questions to consider:

• What is your experience in the financial advisory field?

  Understanding an advisor's experience, including their years in the industry, the types of clients they've worked with, and their expert areas, can offer you a sense of their proficiency and whether they're prepared to tackle your financial situation.

• What are your qualifications and certifications?

  Inquire about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require fulfilling rigorous education, experience, and ethical standards, signifying a high level of professionalism and expertise.

• What is your investment philosophy?

  An advisor's investment philosophy should match 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 usually communicate with clients?

  Communication style and regularity are vital to a productive client-advisor relationship. Inquire about how often you'll be able to meet with your advisor, whether they'll be in person or virtual, and how the advisor intends to keep you informed about how your investments are going and if you need any updates to your plan.

• What's your fee structure?

  Advisors can be either get money from fees/a percentage of your assets, commission from selling financial products, or a combination thereof. Knowing how an advisor is compensated will help you identify potential conflicts of interest and ensure that their recommendations are given with your best interests in mind.

• Do you have a fiduciary duty to your clients?

  Confirming that an advisor acts as a fiduciary is essential. This means they are legally obligated to put your interests ahead of 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 educational resources and portfolio reviews. Knowing the full scope of services offered can enable you to assess whether the advisor can meet all your financial needs.

• How do you handle conflicts of interest?

  An honest advisor will openly discuss potential conflicts of interest and how they manage them to ensure they don't negatively impact their clients' financial plans. Fiduciary advisors must disclose conflicts of interest, and must manage them in their client's best interest.

Asking these questions will not only give essential information about the financial advisor's qualifications and approach but also help you gauge 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 Arlington, TX?

In general, there are three common ways for financial advisors to be compensated:

1. Commission-Based: Commission-based advisors earn their income through commissions on the financial products they offer, such as insurance policies. This fee structure can lead to a possible conflict, as the advisor might be incentivized to recommend products 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 advise on products that can help you achieve your goals, but not necessarily the ones most appropriate to your needs.
2. Fee-Only: Advisors on a fee-only basis 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 frequently regarded as more clear and aligned with the client's best interests, as it reduces conflicts of interest related to product sales.
3. Fee-Based: Fee-based advisors use a combination of fees paid by the client and commissions from selling financial products. While this model offers a mix 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 reveal this to the client and are not allowed to recommend those products unless they sincerely believe they are in the client's best interests.

Correct Capital's Financial Advisory Services in Arlington, TX

Correct Capital is distinguished in the Arlington, TX financial advisory landscape for its customized approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or the same goals, we offer a variety of service models to our clients in Arlington, TX:

One-Time Financial Plan (best for validators)

This service model is ideal for those who are looking for the insights and advice a financial advisor can offer without the ongoing management. This service is excellent for individuals who largely feel good about managing their finances but desire professional insight to confirm 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 is designed for individuals who value ongoing guidance and advice as their financial situation evolves, or when they have specific questions about something related to 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 will not manage your investments for you, 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 prefer to hand over the management of their investments and financial planning to professionals. This includes active investment management, strategic financial planning, and proactive advice on a wide range of financial matters — from tax planning and preparing for retirement 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 long-term goals.

Why Choose Correct Capital as Your Arlington, TX Financial Advisor?

Correct Capital is a premier choice for individuals and families in Arlington, TX looking for reliable, expert financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:

• We are Fiduciary Advisors: As fiduciaries, Correct Capital are legally obligated to put your interests first. This commitment ensures that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is carried out in a way that aligns most closely with your goals.
• Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Our independence signifies we are not tied to any financial institution or product, enabling us the freedom to choose the best investments and strategies for you.
• Our Qualifications: We are a Registered Investment Advisor (RIA), which gives us the ability 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 have 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. Utilizing the latest data and software to analyze trends, 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 dedication 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 Arlington, TX means partnering with a team dedicated to your financial success. Our expertise, 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 safeguard their future.

Other services we offer in Arlington, TX include:

• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor
• Small Business Retirement Plans

Call Correct Capital's Arlington, TX Financial Advisor Team Today

Your money and the choices you make with it are deeply personal. At Correct Capital, we strongly believe that the relationship between a person, household, or entrepreneur in Arlington, TX and their financial advisor is based on mutual trust. Committed to guiding our clients achieve their personal and financial goals, whether it's funding higher education for your children or making the dream purchase of that dream car during your retirement years. Contact our Arlington, 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 how you've always wanted.

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