Financial Advisor in Boston, MA

Financial Advisor in Boston, MA. Your hard-earned money deserves attention, and you need to be secure about how it's growing and how it's being used. A lot of Boston 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, rules, and different events happening around the world. That's when you need a trustworthy, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Boston, MA will make your money work for you. We utilize in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Boston, MA and beyond. Reach out to us today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.

Uncertain if you're ready to hire a financial advisor in Boston, MA? Check out our process page to see how easy we make it to find out if we would make a good team.

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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

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A 2018 study by FINRA revealed that 53 percent of American adults are worried about their finances. A source of that concern is often simply not being sure they're making the right decisions with their money. After our Boston, MA financial advisor team gets to know you, your finances and your financial ambitions, we'll implement a road map to help you realize 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 plans we can recommend. Our financial advisors in Boston, MA have certifications that can only be gained through rigorous testing and by meeting stringent education requirements.

What Is a Financial Advisor?

A financial advisor is a specialist who helps individuals oversee their money, budget, save, and plan for their financial future. This broad definition encompasses a spectrum of services, from portfolio management and retirement planning to tax planning and estate planning. Financial advisors take a comprehensive view of your financial situation to recommend strategies that match your goals, risk tolerance, and time horizon. While technically anyone can call themselves a financial advisor or financial planner, reliable and professional advisors will have qualifications from regulatory bodies such as FINRA and the CFP Board that signify their experience and education.

Types of Financial Advisors in Boston, MA

There are multiple types of advisors that differ based on the services they provide, how they're paid, their areas of expertise, and their legal obligations to clients:

• Investment Advisors or Portfolio Managers: These professionals offer advice on securities and oversee investment portfolios. They're commonly associated with RIAs and are required to act in a fiduciary capacity, meaning they must act within a client's best interest. Portfolio managers are registered with either the Securities and Exchange Commission (SEC) or state regulators, depending on the assets under management.
• Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds for their clients or for their own accounts. They must register with the SEC and are usually members of FINRA. The financial products they can sell depend on their specific licenses, such as Series 6 or Series 7. For example, someone who holds a Series 7 license represents general securities, such as mutual funds and exchange-traded funds (ETFs).
• CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP certification have undergone extensive training and uphold high ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs provide a broad range of financial advisory services, ranging from managing debt to planning for retirement, and tax optimization strategies. This approach is comprehensive, aiming to satisfy every facet of a client's financial life.
• Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have undergone education similar to CFPs and are also required to hold their clients' interests above their own. They specialize in providing holistic financial advice, covering everything from estate planning to tax advice, guaranteeing that customers' financial goals are met with the highest ethical standards.
• Financial Coaches: Are dedicated to improving clients' financial literacy, helping with basics such as saving money and budgeting. They are suited for clients who might not have the financial resources to hire a financial advisor yet. Their services offers a strong basis for handling personal finances wisely, especially for those looking to take the first step towards financial wellbeing.
• Wealth Managers: Serve high-net-worth individuals, offering extensive services that include estate planning, tax help, and investment management. They collaborate intimately with their clients to manage complex financial situations and develop wealth preservation strategies. Their skill set is geared towards maximizing the financial health and future of those with substantial assets, ensuring that their clients' goals and aspirations are met through tailored advice and strategies.

Each type of financial advisor provides unique expertise and services to the table. At Correct Capital, our group of advisors boasts CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, making sure that we act exclusively in the best interest of our clients across all our engagements.

What Does a Financial Advisor Do?

A financial advisor will analyze your current finances, determine methods to improve it, and help you realize your long-term financial goals. Many Boston, MA residents commonly immediately think of investing when they hear wealth management services and financial advisors. While that is a principal facet of any financial plan, a qualified financial advisor will be able to give you 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 Boston, MA will utilize to help you reach your goals.

• Financial Planning

  Our money is integral to almost anything we do, from making sure we're set up in retirement, to paying for college, real estate transactions, choosing insurance policies, and putting food on the table each night. The best financial advisors in Boston, MA offer comprehensive services and tailored consulting by considering your entire financial situation.

• Tax Planning

  Tax considerations play a role almost any time money is exchanged or used. According to the IRS's own data, over 70 percent of Americans pay more than necessary in taxes each year. The United States tax code is notoriously complex, yet it allows for perfectly legal means to reduce your tax liability. A professional and trustworthy Boston, MA financial advisor will guide you through your tax implications in the interest of 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 stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as art. A financial advisor in Boston, MA will help in allocating and diversify your assets in order to mitigate risk and optimally position your money for long-term success.

• Retirement Planning

  Depending on where you currently are in life and your aspired lifestyle when you hang up your cape, your Boston, MA financial advisor will assist with tax planning, considering the best age to retire, when to make withdrawals and how much to withdraw. A financial advisor will help you formulate a budget and plan for where your income will come from in retirement so you can spend your golden years exactly the way you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Boston, MA businesses and business owners. Setting up a 401(k) plan is a superb way to maintain 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 Boston, MA financial advisor team offers thorough 401(k) planning for companies as well as customized 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 Boston, MA employer's 401(k) plan. You have several options, such as leaving the money in the account it is currently in, transferring it to a new 401(k), or putting the money in one of a range of IRA accounts. A financial advisor will have the knowledge how to best manage 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 different from simply leaving gifts behind in estate planning. A financial advisor in Boston, MA 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 call themselves a "financial advisor," so it's necessary to choose one who has accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Boston, MA financial advisor at Correct Capital is bound by a "Code of Ethics and Standards of Conduct" to:

1. Act with honesty, integrity, competence, and diligence.
2. Act in the client's best interest.
3. Exercise due care.
4. Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
5. Maintain confidentiality and protect the privacy of client information.
6. Act in a manner that reflects positively on the financial planning profession and CFP® certification.
• Debt Management

  Financial advisors offer tailored debt management plans that focus on consolidating debt, securing lower interest rates if feasible, and prioritizing repayments. The goal is to create a workable path forward that aligns with your financial situation and goals, ultimately leading to financial freedom.

• Budgeting

  Creating and staying compliant with a budget is crucial to achieving financial health and goals. Financial advisors in Boston, MA can assist clients comprehend your income level, identify areas to spend less, and set realistic spending limits that promote wealth accumulation. By providing resources 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 Boston, MA financial advisor at Correct Capital, we begin by getting to know you and your aims. We will evaluate your current income, assets, investments, debts, and expenses. Once we've accomplished that, we'll work in concert 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 commitment is to act in your best interest. There is no restrictions 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 Boston, MA?

Seeking the advice 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 suggest the need for professional financial advice.

• Major Life Changes: Life is a series of transitions, and many of them have significant financial implications. Whether you're starting a family or changing careers, these milestones can significantly affect your financial landscape. A financial advisor can help you manage these changes, ensuring that your financial plan grows to meet your changing situation and goals.
• Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: Managing personal finances can be complicated, demanding, and, frankly, overwhelming for many. If you aren't confident to successfully handle your investments, or simply prefer to focus your time elsewhere, a financial advisor can be essential. They bring insight and perspective to your financial decisions, assisting to improve 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 help you evaluate your current financial situation, estimate your retirement needs, and formulate a plan to ensure you can enjoy 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 wide array 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 crucial. They can guide you comprehend 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 when you're hiring someone for any service, but especially so when it comes to your hard-earned money. Beyond just finding a dependable advisor, you need one whose specialties align with 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 track record, including their years in the industry, the kinds of clients they've collaborated with, and their expert areas, can provide you a sense of their proficiency and whether they're well-suited to manage your financial needs.

• What are your qualifications and certifications?

  Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require fulfilling demanding education, 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 conservative approach with a focus on long-term growth or a more dynamic strategy, their philosophy should reflect your expectations and expectations.

• How do you usually communicate with clients?

  Communication style and regularity are essential to a fruitful client-advisor relationship. Discuss how often you'll have meetings, whether they'll be face-to-face or virtual, and how the advisor expects 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 fee-only, commission-based, or a combination thereof. Understanding how an advisor is compensated will assist you in identifying potential biases and guarantee that their advice is made 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 obligated to put your interests before their own, offering advice that optimally benefits 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 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 clearly explain potential conflicts of interest and how they manage them to ensure they don't negatively impact their clients' financial plans. Fiduciary advisors must disclose conflicts of interest, and must manage them in their client's best interest.

Asking these questions will not only give essential information about the financial advisor's qualifications and approach but also assist you in determining 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 Boston, MA?

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 recommend options that generate higher commissions instead of those that are most suited to your financial goals. These advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to advise on products that can help you achieve your goals, but not necessarily the ones most appropriate to your needs.
2. Fee-Only: Fee-only advisors are compensated directly by their clients for the advice and services 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 frequently regarded as more transparent and in line with the client's best interests, as it minimizes conflicts of interest related to product sales.
3. Fee-Based: Fee-based advisors use a combination of fees paid by the client and commissions from selling financial products. While this model offers a mix of the fee-only and commission-based structures, fee-based advisors typically also have a fiduciary duty, which means that even if 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 Boston, MA

Correct Capital stands out in the Boston, MA 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 Boston, MA:

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 ongoing management. This service is excellent for individuals who are largely confident in managing their finances but seek professional validation 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 addresses your specific goals, concerns, and growth opportunities.

Subscription (best for collaborators)

Our subscription service is designed for people who appreciate 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 insights from our financial advisors, regular check-ins every quarter, and open availability if the need ever arises. While we will not manage your investments for you, we'll work to look for opportunities to help you flourish financially.

Wealth Management (best for delegators)

Our wealth management service model is for clients who prefer to hand over the management of their investments and financial planning to professionals. This includes active portfolio management, strategic financial planning, 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 overseen by a dedicated team of professionals dedicated to maximizing their wealth and achieving their long-term goals.

Why Choose Correct Capital as Your Boston, MA Financial Advisor?

Correct Capital is a leading choice for individuals and families in Boston, MA looking for 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, we is legally obligated to act in your best interests. This commitment guarantees that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is done with your best interests at heart.
• 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.
• 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.
• We Are Proactive: Our advisors believe that the most valuable way to create long-term financial security is to stay ahead of trends and lead, rather than follow. Utilizing in-depth research and analytics, we prepare the most appropriate strategy for your needs.
• Ongoing Education and Resources: 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 guarantees that you are fully prepared to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Boston, MA 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 perfect choice for individuals and families looking to achieve their financial goals and safeguard their future.

Other services we offer in Boston, MA include:

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

Call Correct Capital's Boston, MA Financial Advisor Team Today

The decisions you make about your finances and the choices you make with it are deeply personal. At Correct Capital, we strongly believe that the relationship between a person, household, or business owner in Boston, MA and their financial advisor is founded on trust. Committed to helping 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 during your retirement years. Contact our Boston, MA financial advisor team today at 877-930-4015 or start a conversation with us online to begin building your wealth in the manner you desire.

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