Financial Advisor in Aurora, IL

Financial Advisor in Aurora, IL. You work hard for your money, and you want to feel confident about how it's expanding and how it's being used. Numerous Aurora 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 financial markets along with new laws, regulations, and global events. That's when you need a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Aurora, IL 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 Aurora, IL and beyond. Speak to a team member today at 877-930-4015 or contact us online 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, IL? Explore our process page to see how easy we make it to find out if we would make a good team.

---

Schedule a Meeting With an Advisor Today

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.

Schedule a 15-Minute Introductory Call

---

A 2018 study by FINRA reported that 53 percent of American adults are nervous about their finances. The cause of that apprehensiveness is commonly simply not being sure they're managing their money correctly. After our Aurora, IL financial advisor team gets to know you, your finances and your financial objectives, we'll implement a road map to help you achieve them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically required to act in your best interest and we are not limited in the plans we can endorse. Our financial advisors in Aurora, IL have certifications that can only be gained through rigorous testing and by meeting strict education requirements.

What Is a Financial Advisor?

A financial advisor is a specialist who assists individuals oversee their money, plan their finances, put enough money away, and prepare for their financial future. This role encompasses a spectrum of services, from portfolio 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, trustworthy and professional advisors will have accreditations from regulatory bodies such as FINRA and the CFP Board that can only be obtained through rigorous education and exams.

Types of Financial Advisors in Aurora, IL

There are various types of advisors that vary based on the services they offer, how they're paid, their areas of expertise, and their legal obligations to customers:

• Investment Advisors or Portfolio Managers: These advisors offer advice on securities and oversee 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 registered with either the Securities and Exchange Commission (SEC) or state regulators, based on the amount of investments they manage.
• 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 generally 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 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): Professionals with the CFP certification have completed rigorous training and adhere to high ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs provide a wide array of financial advisory services, ranging from debt management to retirement planning, and investment strategies. Their methodology is comprehensive, designed to meet 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. Like CFPs, ChFCs specialize in providing comprehensive financial advice, covering areas such as estate planning to tax advice, ensuring that customers' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Focus on enhancing clients' financial literacy, assisting with basics such as saving money and creating budgets. They are perfect for clients who don't have the wealth to hire a financial advisor yet. This type of guidance offers a solid foundation for managing personal finances effectively, particularly for those looking to take the first step towards financial wellbeing.
• Wealth Managers: Specialize in serving high-net-worth individuals, offering a broad array of services that include estate planning, tax help, and investment management. They collaborate intimately with their clients to handle complex financial situations and develop wealth preservation strategies. Their skill set is focused on optimizing the financial health and legacy of wealthy individuals, guaranteeing that all investments and planning strategies meet customized advice and solutions.

Each type of financial advisor provides unique expertise and services to the table. At Correct Capital, our team of advisors boasts 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 examine your present financial situation, ascertain methods to improve it, and help you meet your future financial goals. Many Aurora, IL residents commonly immediately think of investing when they hear wealth management services and financial advisors. While that is a crucial feature of any financial plan, an experienced financial advisor will be able to provide you with comprehensive financial advice that takes into account the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Aurora, IL will implement to help you reach your objectives.

• Financial Planning

  Our finances are integral to almost everything we do, from making sure we're prepared for retirement, to paying for college, buying and/or selling a house, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Aurora, IL offer holistic services and tailored consulting by taking into account your entire financial situation.

• Tax Planning

  Taxes are involved in nearly every financial transaction and transfer. According to the IRS's own data, over 70 percent of Americans overpay in taxes each year. The United States tax code is incredibly complicated, yet it allows for perfectly legal ways to minimize taxes owed. A professional and trustworthy Aurora, IL financial advisor will assist you in navigating your tax implications with the aim of keeping more money in your hands than in the government's.

• Portfolio Management and Asset Management

  Your financial portfolio is the assembly of your financial assets. They can include equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as art. A financial advisor in Aurora, IL will assist in allocating and diversify your assets in order to mitigate risk and optimally position your money for growth.

• Retirement Planning

  Depending on where you stand in life and your desired lifestyle when you retire, your Aurora, IL financial advisor will assist with tax implications, considering the optimal time to retire, when to make withdrawals and how much to take out. 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, IL businesses and business owners. Implementing a 401(k) plan is a fantastic way to keep your best employees and keep them motivated and happy. Our retirement consultants represent over $218 million in plan assets and numerous of plan participants nationwide. Our Aurora, IL financial advisor team offers thorough 401(k) planning for companies as well as individualized benefits for their employees.

• 401(k) Rollover

  When moving to a new job, it can be challenging to know the best way to manage the money you've already saved in a previous Aurora, IL employer's 401(k) plan. You have several options, such as leaving the money in the account it is in now, transferring it to a new 401(k), or putting the money in one of a selection of IRA accounts. A financial advisor will be skilled in how to best approach handling your 401(k) funds.

• Generational Wealth Transfers

  You work hard for your money, and it's common to want to leave a legacy and leave some wealth behind the people you care about the dearly. Wealth transfers are separate from just leaving gifts behind in estate planning. A financial advisor in Aurora, IL 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 vital to pick one who has obtained accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Aurora, IL financial advisor at Correct Capital must abide 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 consolidating debt, securing lower interest rates where possible, and structuring repayments. The goal is to create a manageable path forward that suits your financial situation and goals, eventually leading to financial freedom.

• Budgeting

  Creating and staying compliant with a budget is fundamental to achieving financial health and goals. Financial advisors in Aurora, IL can assist clients grasp your income level, spot areas for savings, and set realistic spending limits that encourage growing your wealth. By providing tools and strategies for effective budgeting, advisors ensure that clients can fulfill their current financial obligations while also preparing for future goals.

When you hire a Aurora, IL financial advisor at Correct Capital, we start by getting to know you and your aims. We will evaluate your current income, assets, investments, debts, and expenses. Next we've accomplished that, we'll work with you to determine your preferred risk tolerance and how we can best help you realize 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 put forward, 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 Aurora, IL?

Seeking the advice of a financial advisor can be a critical step towards getting the life and financial health you want. While the ideal moment can vary widely 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 transitions, and many of them have substantial financial implications. Whether you're starting a family or facing retirement, these milestones can dramatically affect how your money should be used and invested. A financial advisor can assist you through these changes, ensuring that your financial plan evolves to meet your new situation and goals.
• Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: Managing personal finances can be complex, demanding, and, frankly, daunting for many. If you aren't confident to effectively handle your investments, or simply choose to spend your energy on other pursuits, a financial advisor can be essential. They bring insight and objectivity to your financial decisions, aiding to improve your portfolio, prevent costly mistakes, and set up your investments for sustainable growth.
• Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can assist you evaluate your current financial situation, estimate your retirement needs, and formulate a plan to ensure you can live comfortably during your retirement years without worry. 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 set of complexities. 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 assist 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 particularly so when it involves your hard-earned money. Beyond just finding a dependable advisor, you need one who best meets 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 experience, including their years in the industry, the types of clients they've collaborated with, and their areas of expertise, can provide you a sense of their skills and whether they're prepared to tackle your specific financial circumstances.

• What are your qualifications and certifications?

  Ask about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require fulfilling strict educational, experience, and ethical standards, indicating a high level of expertise and expertise.

• Can you describe your investment philosophy?

  An advisor's investment philosophy should align with your risk tolerance and financial goals. Whether they favor a conservative approach with a focus on long-term growth or a more aggressive strategy, their philosophy should be in harmony with your expectations and expectations.

• How do you usually communicate with clients?

  Communication method and frequency are crucial 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 plans to keep you informed about your investments and financial plan.

• What's your fee structure?

  Advisors can be fee-only, commission-based, or a combination thereof. Grasping how an advisor is compensated will assist you in identifying potential biases and ensure that their advice is offered with your best interests in mind.

• Do you have a fiduciary duty to your clients?

  Confirming that an advisor is a fiduciary is crucial. This means they are legally obligated to put your interests before their own, providing 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 client education and portfolio reviews. Understanding the full scope of services offered can help you gauge whether the advisor can meet all your financial needs.

• How do you handle conflicts of interest?

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

Asking these questions will not only offer essential information about the financial advisor's qualifications and approach but also 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, IL?

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 mutual funds. This fee structure can lead to a potential conflict of interest, as the advisor might be incentivized to suggest options that generate higher commissions rather than 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 recommend products that can help you achieve your goals, but not necessarily the ones most appropriate to your needs.
2. Fee-Only: Fee-only advisors 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 various shapes, including fixed fees assets under management (AUM). This model is often seen as more transparent and in line with the client's best interests, as it reduces conflicts of interest related to product sales.
3. 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 typically also have a fiduciary duty, which means that even if 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, IL

Correct Capital is distinguished in the Aurora, IL 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 three different service models to our clients in Aurora, IL:

One-Time Financial Plan (best for validators)

This service model is ideal for those who are seeking the guidance and recommendations a financial advisor can offer without the ongoing management. This service is great for individuals who largely feel good about managing their finances but desire professional validation to confirm they're on the right track. Our team performs 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 is designed for individuals who appreciate 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, 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 grow and save your wealth.

Wealth Management (best for delegators)

Our wealth management service model is for clients who prefer to delegate the management of their investments and financial planning to professionals. This includes active portfolio management, strategic financial planning, and forward-looking guidance on a wide range of financial matters — from tax planning and preparing for retirement to estate considerations and beyond. Our wealth management clients enjoy a sense of security, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals dedicated to maximizing their wealth and realizing their long-term goals.

Why Choose Correct Capital as Your Aurora, IL Financial Advisor?

Correct Capital is a premier choice for individuals and families in Aurora, IL 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, we are 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 with your best interests at heart.
• 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 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 a couple of CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Additionally, our retirement consultants and financial portfolio managers boast over 100 years of combined experience.
• We Are Proactive: 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: We offer at Correct Capital 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 Aurora, IL means joining forces with a team committed 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 looking to achieve their financial goals and safeguard their future.

Other services we offer in Aurora, IL include:

• 401(k) Audit
• High-Net-Worth Wealth Management
• Retirement Planner
• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor

Call Correct Capital's Aurora, IL 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 firmly believe that the relationship between an individual, household, or entrepreneur in Aurora, IL and their financial advisor is founded on mutual trust. Committed to guiding our clients realize their financial and personal goals, whether it's sending your children to college or finally achieving the dream of owning that dream car in retirement. Reach out to our Aurora, IL 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.

---