Financial Advisor in Augusta-Richmond County, GA. You work hard for your money, and you need to feel confident about how it's expanding and how it's being used. Numerous Augusta-Richmond County residents lack the financial literacy to feel like they can handle their investments and finances by themselves, while others simply don't have the time or interest to stay informed on market trends along with new laws, regulations, and different events happening around the world. That's when you need a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Augusta-Richmond County, GA will make your money work for you. We use in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Augusta-Richmond County, GA and beyond. Speak to a team member 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 Augusta-Richmond County, GA? Explore our process page to find out how easy we make it to ascertain if you're a good fit.
A 2018 study by FINRA reported that 53 percent of American adults are nervous about their finances. A source of that anxiety is commonly simply not being sure they're putting their money in the right places. Once our Augusta-Richmond County, GA financial advisor team gets to know you, your extant financial situation and your financial aims, we'll build a road map to help you reach 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 options we can endorse. Our financial advisors in Augusta-Richmond County, GA have certifications that can only be obtained through exhaustive 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 role encompasses a variety 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 call themselves a financial advisor or financial planner, credible and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that can only be obtained through rigorous education and exams.
Types of Financial Advisors in Augusta-Richmond County, GA
Financial advisors can work and market themselves under different titles:
- Investment Advisors or Portfolio Managers: These advisors provide advice on securities and manage investment portfolios. They're often associated with RIAs and are required to act in a fiduciary capacity, prioritizing their clients' interests above their own. Portfolio managers are certified with either the Securities and Exchange Commission (SEC) or state regulators, based on the assets under management.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds for their clients or for their own accounts. They must be registered by the SEC and are typically members of FINRA. The financial products they can sell depend on their specific licenses, such as Series 6 or Series 7. For instance, someone who has a Series 7 license represents general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals with the CFP designation have undergone extensive training and uphold high ethical standards, including a fiduciary duty to their customers. CFPs provide a wide array of financial planning services, ranging from managing debt to planning for retirement, and investment strategies. This approach is holistic, designed to satisfy 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 CERTIFIED FINANCIAL PLANNER™ Professionals and are also required to hold their clients' interests above their own. They focus on providing comprehensive financial advice, covering everything from investment management to retirement strategies, guaranteeing that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on boosting clients' financial literacy, helping with basics such as saving money and creating budgets. They are ideal for clients who don't have the financial resources to hire a financial advisor yet. Their services offers a good starting point for handling personal finances wisely, particularly for those looking to take the first step towards financial wellbeing.
- Wealth Managers: Help high-net-worth individuals, offering extensive services that include estate planning, tax help, and investment management. They partner closely with their clients to handle complex financial situations and develop wealth preservation strategies. Their skill set is geared towards optimizing the financial health and legacy of wealthy individuals, ensuring that all investments and planning strategies meet tailored advice and strategies.
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, guaranteeing 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 look over your current financial situation, pinpoint methods to improve it, and help you realize your long-term financial goals. Many Augusta-Richmond County, GA residents frequently immediately think of investing when they think of wealth management services and financial advisors. While that is a principal part of any financial plan, a certified financial advisor will be able to offer you holistic financial advice that takes into account the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Augusta-Richmond County, GA will implement to help you meet your goals.
- Financial Planning
Our money is integral to almost anything we do, from making sure we're set up in retirement, to education, buying and/or selling a home, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Augusta-Richmond County, GA offer holistic services and personalized guidance by evaluating 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, more than 70 percent of Americans overpay in taxes each year. The United States tax code is incredibly complicated, yet it offers perfectly legal ways to reduce your tax liability. A professional and trustworthy Augusta-Richmond County, GA financial advisor will guide you through your tax implications to ensure keeping more money in your hands than in Uncle Sam's.
- Portfolio Management and Asset Management
Your financial portfolio is the collection 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 Augusta-Richmond County, GA will help 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 the kind of life you want to live when you retire, your Augusta-Richmond County, GA financial advisor will help with tax implications, considering the best age to retire, when to withdraw money 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 spend your golden years just how you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Augusta-Richmond County, GA businesses and business owners. Implementing a 401(k) plan is a superb way to maintain your best employees and keep them productive and happy. Our retirement consultants manage over $218 million in plan assets and thousands of plan participants nationwide. Our Augusta-Richmond County, GA financial advisor team offers thorough 401(k) planning for companies as well as individualized benefits for their employees.
- 401(k) Rollover
When transitioning to a new job, it can be challenging to know the best way to manage the money you've accumulated in a previous Augusta-Richmond County, GA employer's 401(k) plan. You have multiple options, such as leaving the money in the account it is in now, moving it to a new 401(k), or investing the money in one of a variety of IRA accounts. A financial advisor will have the knowledge how to best navigate managing your 401(k) funds.
- Generational Wealth Transfers
You work hard for your money, and it's natural to want to leave a legacy and leave some wealth to the people you care about the most. Wealth transfers are separate from simply leaving gifts behind in estate planning. A financial advisor in Augusta-Richmond County, GA can strategically plan your money for not only your children but for future generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's imperative to choose 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 Augusta-Richmond County, GA 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 personalized debt management plans that focus on consolidating debt, achieving lower interest rates where possible, and prioritizing repayments. The goal is to create a manageable path forward that matches your financial capabilities 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 Augusta-Richmond County, GA can assist clients comprehend your income level, find areas to spend less, and set realistic spending limits that facilitate wealth accumulation. By providing tools and strategies for effective budgeting, advisors ensure that clients can satisfy their current financial obligations while also planning for future goals.
When you hire a Augusta-Richmond County, GA financial advisor at Correct Capital, we start by getting to know you personally and your objectives. We will evaluate your current income, assets, investments, debts, and expenses. After we've accomplished that, we'll work with you to ascertain your preferred risk tolerance and how we can best help you reach your goals. As an independent advisory firm, our only job is to act in your best interest. There is no limitation to the services, products, and investment opportunities our financial advisor team can suggest, 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 Augusta-Richmond County, GA?
Seeking the guidance of a financial advisor can be a critical step towards achieving financial well-being, peace of mind, and wealth. While the right time can vary widely from person to person, certain life events and circumstances often signal the need for professional financial advice.
- Major Life Transitions: Life is a series of transitions, and many of them have significant financial implications. Whether you're buying a home or facing retirement, these milestones can significantly affect your financial landscape. A financial advisor can guide you navigate these changes, ensuring that your financial plan grows to meet your new circumstances and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complex, time-consuming, and, frankly, overwhelming for many. If you aren't confident to successfully handle your investments, or simply prefer to spend your energy on other pursuits, a financial advisor can be crucial. They bring experience and wisdom to your financial decisions, assisting to optimize your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
- Getting Close to Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can assist you review your current financial situation, estimate your retirement needs, and devise a plan to ensure you can experience 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 myriad 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 expertise can be vital. They can help you grasp 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 when you're hiring someone for any service, but especially so when it involves your finances. Beyond just finding a trustworthy advisor, you need one who ideally suits 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 varieties of clients they've assisted, and their specializations, can provide you a sense of their proficiency and whether they're equipped to handle your specific financial circumstances.
- What are your qualifications and certifications?
Ask about any certifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require fulfilling demanding education, experience, and ethical standards, demonstrating a high level of expertise 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 reflect your goals and expectations.
- How do you usually communicate with clients?
Communication method and regularity are vital to a successful client-advisor relationship. Discuss how often you'll be able to meet with your advisor, whether they'll be face-to-face or virtual, and how the advisor expects to keep you informed about your investments and financial plan.
- How are you compensated for your services?
Advisors can be fee-only, commission-based, or a combination thereof. Grasping how an advisor is compensated will enable you to discern potential conflicts of interest and make certain that their recommendations are given with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor serves as a fiduciary is vital. This means they are legally obligated to put your interests before their own, giving advice that is in the best interest of your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide extensive 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 clearly explain potential conflicts of interest and how they address them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must reveal conflicts of interest, and must 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 enable you to assess 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 Augusta-Richmond County, GA?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions earn their income through commissions on the products they sell, such as insurance policies. This fee structure can create a possible conflict, as the advisor could be motivated to recommend options 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 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 several forms, including hourly rates assets under management (AUM). This model is often seen as more clear and in line 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 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 Augusta-Richmond County, GA
Correct Capital is distinguished in the Augusta-Richmond County, GA financial advisory landscape for its bespoke approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or identical goals, we offer three different service models to our clients in Augusta-Richmond County, GA:
One-Time Financial Plan (best for validators)
This service model is ideal for those who are looking for 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 are looking for professional insight to confirm they're on the right track. Our team performs a thorough review of your current financial situation, 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 people who value ongoing guidance and advice as their financial situation changes, 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 won't be managing your portfolio, we'll work to look for opportunities to help you save and grow your wealth.
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 proactive advice on a wide range of financial matters — from tax strategies 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 dedicated to maximizing their wealth and achieving their long-term goals.
Why Choose Correct Capital as Your Augusta-Richmond County, GA Financial Advisor?
Correct Capital is a leading choice for individuals and families in Augusta-Richmond County, GA seeking reliable, expert financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:
- We're Fiduciary Advisors: As fiduciaries, Correct Capital is legally obligated to act in your best interests. 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: All the advice we offer is independent, objective, and unbiased. Being independent signifies we aren't tied to any financial institution or product, allowing us the freedom to choose the best investments and strategies for you.
- Professional Credentials: 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 boast over 100 years of combined experience.
- Proactivity is Our Approach: Our advisors believe that the most valuable way to create long-term financial security is to anticipate trends and lead, rather than follow. Leveraging in-depth research and analytics, our aim is to craft the most appropriate strategy for your needs.
- Ongoing Education and Resources: Correct Capital offers quarterly webinars and workshops aimed at keeping you up-to-date 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 Augusta-Richmond County, GA means partnering with a team dedicated to your financial success. Our experience, fiduciary commitment, and custom-tailored 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 Augusta-Richmond County, GA include:
Call Correct Capital's Augusta-Richmond County, GA Financial Advisor Team Today
The decisions you make about your finances and the decisions you make with it are deeply personal. At Correct Capital, we strongly believe in the relationship between an individual, family, or business owner in Augusta-Richmond County, GA and their financial advisor is founded on trust. Committed to helping our clients realize their financial and personal goals, whether it's funding higher education for your children or finally achieving the dream of owning that dream car in retirement. Reach out to our Augusta-Richmond County, GA 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.
