Financial Advisor in Cary, NC. You work hard for your money, and you need to be assured about how it's growing and how it's being used. Many Cary residents lack the financial literacy to feel sure they're making the best decisions with their money, while others simply don't have the time or interest to stay up to date on financial markets along with new laws, rules, and different events happening around the world. That's when you should consider hiring a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Cary, NC will make your money work for you. We utilize in-depth research along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Cary, NC 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 Cary, NC? Take a look at our process page to find out how simple we make it to find out if you're a good fit.
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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 revealed that 53 percent of American adults are anxious about their finances. A source of that apprehensiveness is commonly just not being sure they're making the right decisions with their money. Once our Cary, NC financial advisor team gets to know you, your finances and your financial aims, we'll create a road map to help you accomplish them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically compelled to act in your best interest and we are not limited in the solutions we can recommend. Our financial advisors in Cary, NC have certifications that can only be acquired through rigorous 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 broad definition covers a wide range 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, credible and professional advisors will have qualifications 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 Cary, NC
There are multiple types of advisors that differ based on the services they provide, their compensation models, their areas of expertise, and their legal obligations to customers:
- Investment Advisors or Portfolio Managers: These advisors offer advice on securities and manage investment portfolios. They often work in RIAs and are required to act in a fiduciary capacity, meaning they always have the client's best interest at heart. Portfolio managers are registered with either the Securities and Exchange Commission (SEC) or state regulators, based on the size of the assets they manage.
- 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, a broker who holds a Series 7 license is qualified to sell general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP designation 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 broad range of financial advisory services, such as managing debt to retirement planning, and estate planning. This approach is comprehensive, 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 undergone education comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and are also bound by a fiduciary duty. They specialize in providing comprehensive financial advice, encompassing everything from estate planning to retirement strategies, guaranteeing that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Focus on enhancing clients' financial literacy, assisting with fundamentals such as saving money and creating budgets. They are perfect for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching delivers a strong basis for handling personal finances wisely, especially for those in the early stages of financial planning.
- Wealth Managers: Serve high-net-worth individuals, offering comprehensive services that encompass estate planning, tax help, and investment management. They partner closely with their clients to handle complex financial situations and develop wealth preservation strategies. Their skill set is tailored for enhancing the financial health and legacy of affluent clients, guaranteeing that their clients' goals and aspirations are met through personalized advice and approaches.
Each type of financial advisor serves different needs, and the best choice depends on an individual's or organization's specific financial situation and goals. At Correct Capital, our team of advisors features CFPs and other qualified professionals who embody the highest standards of fiduciary responsibility and personalized service, making sure that we act only in the best interest of our clients in all of our advice and dealings.
What Does a Financial Advisor Do?
A financial advisor will evaluate your present finances, pinpoint means to enhance it, and help you reach your future financial goals. A lot of Cary, NC residents commonly immediately think of investing when they think of wealth management services and financial advisors. While that is a core part of any financial plan, a knowledgeable financial advisor will be able to provide you with holistic financial advice that takes into account the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Cary, NC will use in order to help you reach your objectives.
- Financial Planning
Our finances are integral to almost everything we do, from making sure we're set up in retirement, to education, real estate deals, choosing insurance policies, and putting food on the table each night. The best financial advisors in Cary, NC offer all-encompassing services and bespoke consulting by evaluating your entire financial situation.
- Tax Planning
Tax considerations play a role almost any time money is exchanged or used. According to the IRS's own data, more than 7 out of 10 of Americans overpay in taxes every year. The United States tax code is notoriously complex, yet it allows for perfectly legal ways to lower your taxes. A skilled and ethical Cary, NC financial advisor will help you navigate your tax implications in the interest of 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 equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as real estate. A financial advisor in Cary, NC will assist to allocate and diversify your assets to mitigate risk and optimally position your money for long-term success.
- Retirement Planning
Depending on where you stand in life and your desired lifestyle when you hang up your cape, your Cary, NC 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 assist in formulating a budget and strategy for where your income will come from in retirement so you can live out your golden years just how you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Cary, NC businesses and business owners. Introducing a 401(k) plan is a great way to retain your best employees and keep them motivated and happy. Our retirement consultants manage over $218 million in plan assets and thousands of plan participants nationwide. Our Cary, NC financial advisor team offers comprehensive 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 tough to know the best way to manage the money you've accumulated in a previous Cary, NC employer's 401(k) plan. You have a number of options, such as keeping the money in the account it is in now, transferring it to a new 401(k), or putting the money in one of a variety of IRA accounts. A financial advisor will have the knowledge how to best manage handling your 401(k) funds.
- Generational Wealth Transfers
You work hard for your money, and it's natural to desire to leave a legacy and leave some wealth behind the people you care about the most. Wealth transfers are different from merely leaving gifts behind in estate planning. A financial advisor in Cary, NC can optimize your money for not only 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 obtained accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Cary, NC 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 customized debt management plans that focus on consolidating debt, achieving lower interest rates where possible, and structuring repayments. The goal is to create a practical path forward that matches your financial capabilities and goals, ultimately leading to stability.
- Budgeting
Creating and staying compliant with a budget is crucial to having the financial health and life you want. Financial advisors in Cary, NC can help clients understand your income level, find areas to spend less, and set realistic spending limits that facilitate growing your wealth. By providing resources and strategies for efficient budgeting, advisors ensure that clients can satisfy their current financial obligations while also saving for future goals.
When you hire a Cary, NC financial advisor at Correct Capital, we begin by getting to know you personally and your goals. We will evaluate your current income, assets, investments, debts, and expenses. Once we've done that, we'll work with you to ascertain your preferred risk tolerance and how we can best help you meet your goals. As an independent advisory firm, our only priority is to act in your best interest. There is no limitation to the services, products, and investment opportunities our financial advisor team can recommend, and we will never try to sell you on something we do not believe in ourselves.
Do I Need to Hire a Financial Advisor in Cary, NC?
Seeking the guidance of a financial advisor can be a critical step towards achieving financial well-being, peace of mind, and wealth. While the ideal moment can differ greatly from person to person, certain life events and circumstances often indicate the need for expert financial advice.
- Major Life Transitions: Life is a series of transitions, and many of them have significant 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 navigate these changes, ensuring that your financial plan evolves to meet your new circumstances and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances By Yourself: Managing personal finances can be complicated, time-consuming, and, frankly, daunting for many. If you don't have the knowledge to successfully handle your investments, or simply choose to spend your energy on other pursuits, a financial advisor can be invaluable. They bring insight and perspective to your financial decisions, helping to improve your portfolio, prevent costly mistakes, and set up your investments for future success.
- Getting Close to Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can assist you assess your current financial situation, estimate your retirement needs, and formulate a plan to ensure you can enjoy your retirement years with peace of mind. This includes strategies for Social Security benefits, pension management, and distribution strategies from retirement accounts.
- Complex Financial Products: The financial market offers a myriad of investment options, many of which come with their own challenges. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's expertise can be essential. They can assist you comprehend the risks and benefits, ensuring that any investment matches 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. In addition to finding a dependable advisor, you need one who perfectly matches 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 background, including their time spent in the industry, the varieties of clients they've worked with, and their specializations, can provide you a sense of their expertise and whether they're prepared to handle your financial needs.
- What are your qualifications and certifications?
Ask about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require adhering to demanding educational, experience, and ethical standards, demonstrating a high level of expertise and expertise.
- What is your investment philosophy?
An advisor's investment philosophy should match your risk tolerance and financial goals. Whether they favor a conservative approach with a focus on long-term growth or a more aggressive strategy, their philosophy should resonate with your goals and expectations.
- How do you usually communicate with clients?
Communication style and regularity are crucial to a successful client-advisor relationship. Ask about how often you'll be able to meet with your advisor, whether they'll be face-to-face or virtual, and how the advisor expects to keep you updated about your investments and financial plan.
- What's your fee structure?
Advisors can be fee-only, commission-based, or a mixture thereof. Grasping how an advisor is compensated will help you identify potential conflicts of interest and make certain that their recommendations are offered with your best interests in mind.
- Are you a fiduciary financial advisor?
Confirming that an advisor serves as a fiduciary is vital. This means they are legally required to put your interests before their own, giving advice that is in the best interest of your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide 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. Knowing 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 deal with them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must reveal conflicts of interest, and are required to 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 Cary, NC?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions 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 might be incentivized to recommend products that generate higher commissions rather than 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 recommend products that can help you achieve your goals, but not necessarily the ones most appropriate to your needs.
- Fee-Only: Fee-only advisors are compensated straightforwardly by 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 frequently regarded as more clear and aligned with the client's best interests, as it minimizes conflicts of interest related to product sales.
- Fee-Based: Advisors with a fee-based approach use a combination of fees paid by the client and commissions from selling financial products. While this model offers a mix of the fee-only and commission-based structures, such advisors generally 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 are not allowed to recommend those products unless they sincerely believe they are in the client's best interests.
Correct Capital's Financial Advisory Services in Cary, NC
Correct Capital stands out in the Cary, NC 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 Cary, NC:
One-Time Financial Plan (best for validators)
This service model is ideal for those who are looking for the guidance and recommendations a financial advisor can offer without the continuous oversight. This service is excellent for individuals who are generally 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 financial landscape, providing you with a detailed plan that addresses your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service caters to people who value ongoing guidance and advice as their financial situation changes, or when they have specific questions about something related to their finances. This model offers monthly updates from our financial advisors, quarterly meetings, and open availability if the need ever arises. While we won't be managing your portfolio, we'll work to look for opportunities to help you 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 planning and beyond. Our wealth management clients enjoy peace of mind, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals committed to maximizing their wealth and achieving their long-term goals.
Why Choose Correct Capital as Your Cary, NC Financial Advisor?
Correct Capital is a leading choice for individuals and families in Cary, NC 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, we is legally obligated to put your interests first. This commitment ensures that each piece of advice, each investment recommendation, and each strategic move 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. Our independence means we are not tied to any specific financial institution or product, allowing us the freedom to select 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 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 stay ahead of trends and lead, rather than follow. Leveraging the latest data and software to analyze trends, we prepare the most appropriate strategy for your needs.
- Ongoing Education and Resources: We offer at Correct Capital quarterly webinars and workshops to keep you informed and engaged with your financial health. Our dedication 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 Cary, NC means joining forces with a team committed to your financial success. Our experience, 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 Cary, NC 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 Cary, NC Financial Advisor Team Today
Your money and the decisions you make with it are inherently personal. At Correct Capital, we firmly believe that the relationship between an individual, household, or business owner in Cary, NC and their financial advisor is founded on trust. Dedicating our lives to helping our clients achieve their financial and personal goals, be it sending your children to college or finally achieving the dream of owning that dream car in retirement. Reach out to our Cary, NC financial advisor team today at 877-930-4015 or get in touch with us online to begin building your wealth how you've always wanted.
