Financial Advisor in Aurora, CO. You work hard for your money, and you need to feel confident about how it's being managed and how it's being used. Numerous Aurora residents lack the financial literacy to feel confident they're making the best decisions with their money, while others are too busy or inclination to stay up to date 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 Aurora, CO will make your money work for you. We use in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Aurora, CO and beyond. Speak to a team member today at 877-930-4015 or contact us online to learn how Correct Capital can help you.
Uncertain if you're ready to hire a financial advisor in Aurora, CO? Explore our process page to see how straightforward we make it to determine if we would make a good 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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A 2018 study by FINRA reported that 53 percent of American adults are anxious about their finances. The root of that concern is often simply not being sure they're putting their money in the right places. Once our Aurora, CO financial advisor team gets to know you, your finances and your financial goals, we'll build a road map to help you realize them. As a fiduciary and an independent firm, every Correct Capital financial advisor is obligated to act in your best interest and we are not limited in the plans we can offer you. Our financial advisors in Aurora, CO have certifications that can only be obtained through exhaustive testing and by meeting stringent 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 estate planning. Financial advisors take a thorough view of your financial situation to recommend strategies that match your goals, risk tolerance, and time horizon. While technically anyone can be called a financial advisor or financial planner, credible and professional advisors will have qualifications from organizations such as FINRA and the CFP Board that indicate their experience and education.
Types of Financial Advisors in Aurora, CO
Financial advisors can operate under different titles:
- Investment Advisors or Portfolio Managers: These professionals provide advice on securities and manage investment portfolios. They often work in RIAs and are required to serve as fiduciaries, prioritizing their clients' interests above their own. Portfolio managers are certified with either the Securities and Exchange Commission (SEC) or state regulators, depending on the size of the assets they manage.
- Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds on behalf of their clients or for their own accounts. They must be registered by 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, a broker who has a Series 7 license represents general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals holding the CFP designation have completed rigorous training and adhere to high ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs provide a vast spectrum of financial planning services, including managing debt to retirement planning, and tax optimization strategies. Their methodology is holistic, designed 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 comparable with CFPs and also adhere to a fiduciary duty. They focus on offering comprehensive financial advice, encompassing everything from estate planning to retirement strategies, ensuring that customers' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Concentrate on boosting clients' financial literacy, assisting with fundamentals such as saving money and budgeting. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching delivers a solid foundation for handling personal finances wisely, particularly for those in the early stages of financial planning.
- Wealth Managers: Cater to high-net-worth individuals, offering a broad array of services that include estate planning, tax assistance, and investment management. They partner closely with their clients to manage complex financial situations and develop wealth preservation strategies. Their expertise is geared towards optimizing the financial health and future of those with substantial assets, ensuring that their clients' goals and aspirations are met through tailored advice and approaches.
Each type of financial advisor provides unique expertise and services to the table. 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 exclusively 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 present financial situation, determine methods to enhance it, and help you reach your future financial goals. A lot of Aurora, CO residents often immediately think of investing when they consider wealth management services and financial advisors. While that is a key aspect of any financial plan, a qualified financial advisor will be able to provide you with overarching financial advice that considers the whole of your finances. The following are some of the services your Correct Capital financial advisor in Aurora, CO will utilize to help you achieve your objectives.
- Financial Planning
Our money is a part of almost everything we do, from making sure we're set up in retirement, to education, buying and/or selling a house, choosing insurance policies, and making sure we have enough to eat every night. The best financial advisors in Aurora, CO offer holistic services and tailored guidance by taking into account your entire financial situation.
- Tax Planning
Taxes are involved almost any time money is exchanged or used. According to the IRS's own data, over 7 out of 10 of Americans overpay in taxes each year. The United States tax code is notoriously complex, yet it allows for perfectly legal ways to minimize taxes owed. A skilled and ethical Aurora, CO financial advisor will guide you through your tax implications to ensure keeping more money in your pocket.
- Portfolio Management and Asset Management
Your financial portfolio is the aggregation of your financial assets. They can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as art. A financial advisor in Aurora, CO will help to allocate and diversify your assets in order to mitigate risk and strategically position your money for long-term success.
- Retirement Planning
Depending on where you stand in life and the kind of life you want to live when you retire, your Aurora, CO financial advisor will assist with tax implications, considering the best age to retire, when to withdraw money and how much to withdraw. A financial advisor will help you formulate a budget and plan for source of income in retirement so you can enjoy your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Aurora, CO businesses and business owners. Setting up a 401(k) plan is a superb way to keep your best employees and keep them satisfied and happy. Our retirement consultants manage over $218 million in plan assets and numerous of plan participants nationwide. Our Aurora, CO financial advisor team offers extensive 401(k) planning for companies as well as personalized 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 Aurora, CO employer's 401(k) plan. You have a number of options, including leaving the money in the account it is currently in, moving it to a new 401(k), or investing the money in one of a range 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 normal to wish to leave a legacy and bequeath some wealth to the people you care about the dearly. Wealth transfers are different from simply leaving gifts behind in estate planning. A financial advisor in Aurora, CO can best position your money for both 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 pick one who has earned accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Aurora, CO 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, securing lower interest rates if feasible, and structuring repayments. The goal is to create a workable 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 Aurora, CO can assist clients grasp their cash flow, find areas for savings, and set realistic spending limits that encourage growing your wealth. By providing resources and strategies for efficient budgeting, advisors guarantee that clients can meet their current financial obligations while also planning for future goals.
When you hire a Aurora, CO financial advisor at Correct Capital, we start by getting to know you and your goals. We will evaluate your current income, assets, investments, debts, and expenses. After we've completed that, we'll work with you to ascertain 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 offer you, and we will never try to sell you on something we do not believe in ourselves.
When Should I Speak to a Financial Advisor in Aurora, CO?
Seeking the assistance of a financial advisor can be a vital step towards getting the life and financial security you want. 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 how your money should be used and invested. A financial advisor can assist you manage these changes, ensuring that your financial plan adapts to meet your evolving situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complicated, demanding, and, frankly, overwhelming for many. If you aren't confident to effectively handle your investments, or simply prefer to focus your energy elsewhere, a financial advisor can be essential. They bring experience and wisdom to your financial decisions, helping to optimize your portfolio, avoid costly mistakes, and set up your investments for long-term growth.
- Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can aid you assess your current financial situation, calculate your retirement needs, and devise a plan to ensure you can live comfortably during 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 complexities. 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 understand 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 comes to your finances. In addition to finding a reliable advisor, you need one who ideally suits your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's track record, including their time spent in the industry, the kinds of clients they've assisted, and their areas of expertise, can offer you a sense of their proficiency and whether they're equipped to handle your financial situation.
- What are your qualifications and certifications?
Ask about any certifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require meeting rigorous education, experience, and ethical standards, signifying a high level of competence and expertise.
- What is your investment philosophy?
An advisor's investment philosophy should complement your risk tolerance and financial goals. Whether they favor a conservative approach with a focus on long-term growth or a more dynamic strategy, their philosophy should be in harmony with your expectations and expectations.
- How do you usually communicate with clients?
Communication style and frequency are vital to a productive client-advisor relationship. Ask about how often you'll have meetings, whether they'll be face-to-face 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.
- 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. Knowing how an advisor is compensated will assist you in identifying potential conflicts of interest and ensure that their recommendations are offered 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 bound by law 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 holistic 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. Grasping the full scope of services offered can assist you in determining 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 harm their clients' financial plans. Fiduciary advisors must make known 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 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 Aurora, CO?
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 create a possible conflict, as the advisor could be motivated to suggest 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 aid in achieving your goals, but not necessarily the ones best suited to your needs.
- Fee-Only: Advisors on a fee-only basis 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 transparent and aligned with the client's best interests, as it reduces conflicts of interest related to product sales.
- 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, fee-based advisors typically also have a fiduciary duty, which means that although they get commission from certain products, they must reveal this 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 Aurora, CO
Correct Capital is distinguished in the Aurora, CO financial advisory landscape for its customized approach to wealth management and financial planning. Understanding that not all clients have the same starting point or identical goals, we offer a variety of service models to our clients in Aurora, CO:
One-Time Financial Plan (best for validators)
This service model is best for those who are seeking the insights and advice a financial advisor can offer without the ongoing management. This service is excellent for individuals who are largely confident in managing their finances but seek professional validation to confirm they're doing things the right way. Our team conducts a thorough review of your current financial situation, supplying you with a detailed plan that tackles your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service caters to people who value consistent 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 will not 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, comprehensive financial strategizing, and forward-looking guidance on a wide range of financial matters — from tax strategies 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 dedicated to maximizing their wealth and achieving their long-term goals.
Why Choose Correct Capital as Your Aurora, CO Financial Advisor?
Correct Capital is a premier choice for individuals and families in Aurora, CO 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 is legally obligated to put your interests first. This commitment guarantees that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is done 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. Being independent signifies we are not tied to any specific 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 two 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: Our advisors believe that the most valuable way to create long-term financial security is to anticipate trends and lead, rather than follow. Leveraging the latest data and software to analyze trends, our aim is to craft 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 Aurora, CO 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 perfect choice for individuals and families seeking to achieve their financial goals and safeguard their future.
Other services we offer in Aurora, CO include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
- Self-Employed Retirement Plans
Call Correct Capital's Aurora, CO Financial Advisor Team Today
The decisions you make about your finances and the decisions you make with it are inherently personal. At Correct Capital, we firmly believe that the relationship between a person, family, or business owner in Aurora, CO and their financial advisor is based on trust. Dedicating our lives to helping our clients achieve their personal and financial goals, be it sending your children to college or making the dream purchase of that dream car in retirement. Contact our Aurora, CO financial advisor team today at 877-930-4015 or get in touch with us online to begin building your wealth in the manner you desire.
