Financial Advisor in Aurora, CO. You work hard for your money, and you need to be assured about how it's expanding and how it's being used. Many Aurora residents do not have the financial literacy to feel confident they're making the best decisions with their money, while others simply don't have the time or inclination to stay up to date on financial markets along with new laws, rules, 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 Aurora, CO will help your finances grow. We utilize in-depth research along with our extensive expertise 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 through our website to see if Correct Capital is a good fit for you.
Not sure if you're ready to work with a financial advisor in Aurora, CO? Explore our process page to see how simple we make it to determine if we would make a good team.
A 2018 study by FINRA revealed that 53 percent of American adults are nervous about their finances. The root of that concern is often just not being sure they're making the right decisions with their money. Once our Aurora, CO financial advisor team gets to know you, your finances and your financial ambitions, we'll implement a road map to help you reach 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 options we can offer you. Our financial advisors in Aurora, CO have certifications that can only be acquired through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a professional 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 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 Aurora, CO
Financial advisors can operate under different titles:
- Investment Advisors or Portfolio Managers: These advisors offer advice on securities and manage investment portfolios. They often work in RIAs and are required to serve as fiduciaries, meaning they must act within a client's best interest. Investment advisors are registered with either the Securities and Exchange Commission (SEC) or state regulators, depending 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 be registered by the SEC and are typically members of FINRA. The financial products they can sell are determined by their specific licenses, such as Series 6 or Series 7. For instance, an individual who holds a Series 7 license is qualified to sell general securities, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors holding the CFP certification have completed rigorous education and uphold the highest ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs offer a vast spectrum of financial planning services, such as debt management to planning for retirement, and tax optimization strategies. Their approach is all-encompassing, aiming to satisfy all aspects of a client's financial life.
- Financial Consultants: This term can be widely applied, 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 areas such as investment management to tax advice, ensuring that customers' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Are dedicated to enhancing clients' financial literacy, helping with fundamentals such as saving money and budgeting. They are suited for clients who might not have the wealth to hire a financial advisor yet. Financial coaching provides a solid foundation for managing personal finances wisely, particularly for those just starting out.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering extensive services that encompass estate planning, tax help, and investment management. They partner closely with their clients to navigate complex financial situations and formulate wealth preservation strategies. This expertise is focused on maximizing the financial health and future of those with substantial assets, ensuring that their clients' goals and aspirations are met through personalized 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 boasts CFPs and other qualified professionals who represent 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 asses your current financial situation, pinpoint methods to improve it, and help you realize your future financial goals. A lot of Aurora, CO residents frequently immediately think of investing when they think of wealth management services and financial advisors. While that is a central aspect of any financial plan, a qualified financial advisor will be able to give you overarching financial advice that gives consideration to the whole of your finances. Below are some of the services your Correct Capital financial advisor in Aurora, CO will use to help you realize your goals.
- Financial Planning
Our finances are involved in almost everything we do, from making sure we're prepared for retirement, to education, real estate transactions, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Aurora, CO offer holistic services and personalized consulting 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 every year. The United States tax code is incredibly complicated, yet it allows for perfectly legal ways to reduce your tax liability. A professional and trustworthy Aurora, CO financial advisor will help you navigate your tax implications to ensure 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 stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as real estate. A financial advisor in Aurora, CO will assist in allocating and diversify your assets to mitigate risk and optimally 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 hang up your cape, your Aurora, CO financial advisor will help with tax planning, evaluating the optimal time to retire, when to withdraw money and how much to withdraw. A financial advisor will assist in formulating a budget and strategy for source of income in retirement so you can live out 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. Introducing a 401(k) plan is a fantastic 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 Aurora, CO financial advisor team offers comprehensive 401(k) planning for companies as well as individualized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be difficult to know the best way to deal with the money you've already saved in a previous Aurora, CO 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 putting the money in one of a selection of IRA accounts. A financial advisor will know how to best approach 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 pass on some wealth behind the people you care about the most. Wealth transfers are distinct from just leaving gifts behind in estate planning. A financial advisor in Aurora, CO can strategically plan your money for both 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 crucial to choose 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 must obey 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, achieving lower interest rates if feasible, and prioritizing repayments. The goal is to create a workable path forward that matches your financial capabilities and goals, eventually leading to financial freedom.
- Budgeting
Creating and sticking to a budget is crucial to having the financial health and life you want. Financial advisors in Aurora, CO can help clients grasp how much money's coming in, find areas for savings, and set realistic spending limits that promote growing your wealth. By providing tools and strategies for efficient budgeting, advisors guarantee that clients can meet their current financial obligations while also preparing for future goals.
When you hire a Aurora, CO financial advisor at Correct Capital, we start by getting to know you personally and your aims. We will assess your current income, assets, investments, debts, and expenses. After we've completed 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 priority is to act in your best interest. There is no restrictions 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 Hire a Financial Advisor in Aurora, CO?
Seeking the guidance of a financial advisor can be a critical step towards achieving financial well-being, peace of mind, and wealth. While the optimal timing can differ greatly from person to person, certain life events and circumstances often indicate the need for professional financial advice.
- Major Life Transitions: Life is a long line of changes, and many of them have major financial implications. Whether you're starting a family or facing retirement, these milestones can significantly affect your financial landscape. A financial advisor can guide you manage these changes, ensuring that your financial plan evolves to meet your changing circumstances and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances Alone: Managing personal finances can be complicated, demanding, and, frankly, daunting for many. If you don't have the knowledge to effectively manage your investments, or simply choose to focus your time elsewhere, a financial advisor can be invaluable. They bring insight and objectivity to your financial decisions, assisting to enhance your portfolio, prevent costly mistakes, and set up your investments for future success.
- Nearing Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can help you review your current financial situation, calculate your retirement needs, and formulate a plan to ensure you can live comfortably during your retirement years comfortably. This includes strategies for Social Security benefits, pension management, and distribution strategies from retirement accounts.
- Complex Financial Products: The financial market offers a plethora 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 vital. They can guide you understand the risks and benefits, ensuring that any investment aligns with 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 comes to your finances. In addition to finding a dependable 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 track record, including their years in the industry, the varieties of clients they've collaborated with, and their areas of expertise, can offer you a sense of their skills and whether they're well-suited to tackle your specific financial circumstances.
- What are your qualifications and certifications?
Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require fulfilling demanding educational, experience, and ethical standards, demonstrating a high level of competence and expertise.
- Can you describe 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 method and frequency are vital to a productive client-advisor relationship. Discuss how often you'll have meetings, whether they'll be in person or online, 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 mixture thereof. Knowing how an advisor is compensated will assist you in identifying potential conflicts of interest and guarantee that their recommendations are offered with your best interests in mind.
- Are you a fiduciary financial advisor?
Confirming that an advisor is a fiduciary is essential. This means they are legally required to put your interests before their own, offering 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 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 manage them to ensure they don't adversely affect 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 provide you with 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 financial products they offer, such as other financial products. This fee structure can lead to a possible conflict, as the advisor might be incentivized to suggest products that generate higher commissions rather than those that best meet your needs. Commission-based advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to recommend 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 various shapes, including a percentage of the assets under management (AUM). This model is often seen as more clear and aligned with the client's best interests, as it reduces conflicts of interest related to product sales.
- Fee-Based: Advisors with a fee-based approach use a combination of client-paid fees 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 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 the same 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 ideal for those who are looking for the insights and advice a financial advisor can offer without the continuous oversight. This service is great for individuals who are largely confident in managing their finances but desire professional validation to confirm they're setting their money up for success in the best way. Our team performs a thorough review of your current financial situation, providing you with a detailed plan that tackles your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service caters to individuals who value consistent guidance and advice as their financial situation changes, or when they have specific questions about taxes, investments, or other aspects of their finances. This model offers monthly updates from our financial advisors, quarterly meetings, and availability on an as-needed basis. While we will not be managing your portfolio, we'll strive 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 prefer 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 planning and retirement planning 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 carefully managed by a dedicated team of professionals committed to maximizing their wealth and realizing their long-term goals.
Why Choose Correct Capital as Your Aurora, CO Financial Advisor?
Correct Capital is a leading choice for individuals and families in Aurora, CO seeking trusted, professional 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 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 aren't 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 allows us 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: 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: We offer at Correct Capital quarterly webinars and workshops aimed at keeping you up-to-date and engaged with your financial health. Our dedication to client education guarantees that you are well-equipped to make informed decisions alongside your advisor.
Choosing Correct Capital as your financial advisor in Aurora, CO means joining forces with a team committed 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 looking to achieve their financial goals and secure their future.
Other services we offer in Aurora, CO include:
Call Correct Capital's Aurora, CO Financial Advisor Team Today
The decisions you make about your finances and the choices you make with it are inherently personal. At Correct Capital, we strongly believe in the relationship between an individual, family, or entrepreneur in Aurora, CO and their financial advisor is founded on mutual trust. Dedicating our lives to helping our clients achieve their personal and financial 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 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.
