Financial Advisor in Charlotte, NC. Your hard-earned money deserves attention, and you need to be assured about how it's growing and how it's being used. Numerous Charlotte residents do not have the financial literacy to feel sure they're making the optimal decisions with their money, while others are too busy or inclination to stay informed on financial markets along with new laws, regulations, and global events. That's when you need a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Charlotte, NC will help your finances grow. We use in-depth research along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Charlotte, NC and beyond. Call us today at 877-930-4015 or contact us online to see if Correct Capital is a good fit for you.
Uncertain if you're ready to work with a financial advisor in Charlotte, NC? Check out our process page to find out how easy we make it to ascertain 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 worried about their finances. The cause of that apprehensiveness is often simply not being sure they're putting their money in the right places. Once our Charlotte, NC financial advisor team gets to know you, your finances and your financial goals, we'll implement a road map to help you accomplish them. As a fiduciary and an independent firm, your Correct Capital financial advisor is required to act in your best interest and we are not limited in the solutions we can suggest. Our financial advisors in Charlotte, NC 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 manage their money, budget, save, and plan for their financial future. This role includes a variety of services, from investment management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a comprehensive view of your financial situation to suggest strategies that suit your goals, risk tolerance, and time horizon. While technically anyone can be called a financial advisor or financial planner, credible and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that denote their experience and education.
Types of Financial Advisors in Charlotte, NC
Financial advisors can operate under different titles:
- Investment Advisors or Portfolio Managers: These professionals provide advice on securities and oversee investment portfolios. They often work in RIAs and are required to serve as fiduciaries, meaning they must act within a client's best interest. Portfolio managers are certified with either the Securities and Exchange Commission (SEC) or state regulators, depending on the amount of investments they manage.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds on behalf of their clients or for their own accounts. They must be registered by the SEC and are generally members of FINRA. The financial products they can sell depend on 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, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP certification have undergone extensive training and adhere to the highest ethical standards, particularly a fiduciary duty to their customers. CFPs offer a vast spectrum of financial advisory services, ranging from managing debt to retirement planning, and tax optimization strategies. This approach is holistic, aiming to satisfy every facet of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed education comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and are also required to hold their clients' interests above their own. They focus on offering comprehensive financial advice, encompassing areas such as estate planning to tax advice, guaranteeing that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on improving clients' financial literacy, helping with fundamentals such as saving money and creating budgets. They are perfect for clients who might not have the wealth to hire a financial advisor just yet. Their services provides a solid foundation for managing personal finances effectively, particularly for those looking to take the first step towards financial wellbeing.
- Wealth Managers: Cater to high-net-worth individuals, offering a broad array of services that include estate planning, tax assistance, and investment management. They work closely with their clients to handle complex financial situations and develop wealth preservation strategies. This expertise is focused on enhancing the financial health and legacy of those with substantial assets, guaranteeing that all investments and planning strategies meet 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 group of advisors includes CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, making sure 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 look over your extant financial situation, pinpoint ways to improve it, and help you accomplish your long-term financial goals. Many Charlotte, NC residents typically immediately think of investing when they hear wealth management services and financial advisors. While that is a key element of any financial plan, an accomplished financial advisor will be able to offer you holistic financial advice that takes into consideration the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Charlotte, NC will use to help you meet your objectives.
- Financial Planning
Our money is a part of almost anything we do, from making sure we're prepared for retirement, to education, real estate transactions, choosing insurance policies, and making sure we have enough to eat every night. The best financial advisors in Charlotte, NC offer all-encompassing services and bespoke consulting by taking into account your entire financial situation.
- Tax Planning
Tax considerations play a role in nearly every financial transaction and transfer. According to the IRS's own data, over 7 out of 10 of Americans pay more than necessary in taxes every year. The United States tax code is notoriously complex, yet it offers perfectly legal ways to minimize taxes owed. A professional and trustworthy Charlotte, NC financial advisor will help you navigate your tax implications to ensure keeping more money in your pocket.
- Portfolio Management and Asset Management
Your financial portfolio is the collection of your financial assets. They can include equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as real estate. A financial advisor in Charlotte, NC will assist to allocate and diversify your assets in order to mitigate risk and best position your money for growth.
- Retirement Planning
Depending on where you currently are in life and your aspired lifestyle when you retire, your Charlotte, NC financial advisor will help with tax planning, evaluating the optimal time to retire, when to make withdrawals and how much to withdraw. A financial advisor will aid in creating 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 Charlotte, NC businesses and business owners. Introducing a 401(k) plan is a great way to retain your best employees and keep them satisfied and happy. Our retirement consultants manage over $218 million in plan assets and thousands of plan participants nationwide. Our Charlotte, NC financial advisor team offers extensive 401(k) planning for companies as well as individualized benefits for their employees.
- 401(k) Rollover
When transitioning to a new job, it can be difficult to know the best way to deal with the money you've accumulated in a previous Charlotte, NC employer's 401(k) plan. You have a number of 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 know how to best navigate handling your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's natural to wish to leave a legacy and bequeath 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 Charlotte, NC can optimize 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 essential to choose one who has earned accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Charlotte, NC financial advisor at Correct Capital must act in accordance with a "Code of Ethics and Standards of Conduct" to:
- Act with honesty, integrity, competence, and diligence.
- Act in the client's best interest.
- Exercise due care.
- Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
- Maintain confidentiality and protect the privacy of client information.
- Act in a manner that reflects positively on the financial planning profession and CFP® certification.
- Debt Management
Financial advisors offer personalized debt management plans that focus on managing debt, securing lower interest rates if feasible, and prioritizing repayments. The goal is to create a manageable path forward that matches your financial capabilities and goals, ultimately leading to financial freedom.
- Budgeting
Creating and sticking to a budget is crucial to achieving financial health and goals. Financial advisors in Charlotte, NC can assist clients comprehend their cash flow, identify areas to spend less, and set realistic spending limits that facilitate growing your wealth. By providing tools and strategies for successful budgeting, advisors ensure that clients can meet their current financial obligations while also saving for future goals.
When you hire a Charlotte, NC financial advisor at Correct Capital, we begin by getting to know you and your objectives. We will assess your current income, assets, investments, debts, and expenses. Once we've accomplished that, we'll work in concert with you to determine your preferred risk tolerance and how we can best help you accomplish your goals. 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 propose, 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 Charlotte, NC?
Seeking the guidance of a financial advisor can be a key 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 facing retirement, these milestones can profoundly affect how your money should be used and invested. A financial advisor can guide you navigate these changes, ensuring that your financial plan grows to meet your evolving circumstances and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complicated, time-consuming, and, frankly, daunting for many. If you don't have the knowledge to successfully manage your investments, or simply choose to spend your time on other pursuits, a financial advisor can be essential. They bring insight and wisdom to your financial decisions, helping to optimize your portfolio, prevent 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 assist you evaluate your current financial situation, determine 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 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 vital. They can help 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 crucial whenever you hire someone to do something, but especially so when it involves your hard-earned money. In addition to finding a trustworthy advisor, you need one whose specialties align with 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 kinds of clients they've assisted, and their expert areas, can provide you a sense of their skills and whether they're equipped to handle your financial situation.
- What are your qualifications and certifications?
Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require meeting strict education, experience, and ethical standards, indicating a high level of expertise and expertise.
- What is your investment philosophy?
An advisor's investment philosophy should align with your risk tolerance and financial goals. Whether they favor a cautious 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 prefer to communicate with clients?
Communication method and regularity are essential to a successful client-advisor relationship. Inquire about how often you'll have meetings, whether they'll be face-to-face or online, and how the advisor intends to keep you updated 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 mixture thereof. Knowing how an advisor is compensated will help you identify 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 serves as a fiduciary is vital. This means they are legally required to put your interests before their own, offering advice that is in the best interest of 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 assist you in determining 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 provide you with 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 Charlotte, 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 mutual funds. This fee structure can lead to a possible conflict, as the advisor might be incentivized to recommend products that generate higher commissions instead of those that are most suited to your financial goals. Commission-based advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to recommend products that can help you achieve your goals, but not necessarily the ones most appropriate to your needs.
- Fee-Only: Advisors on a fee-only basis 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 hourly rates 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.
- 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 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 Charlotte, NC
Correct Capital stands out in the Charlotte, NC financial advisory landscape for its bespoke 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 Charlotte, NC:
One-Time Financial Plan (best for validators)
This service model is best for those who are seeking the insights and advice a financial advisor can offer without the ongoing management. This service is great for individuals who are generally confident in managing their finances but seek professional insight to confirm they're doing things the right way. Our team conducts a thorough review of your financial landscape, providing you with a detailed plan that addresses your specific goals, concerns, and opportunities for growth.
Subscription (best for collaborators)
Our subscription service is designed for individuals who value consistent guidance and advice as their financial situation evolves, or when they have specific questions about taxes, investments, or other aspects of their finances. This model offers monthly updates from our financial advisors, regular check-ins every quarter, 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 delegate the management of their investments and financial planning to professionals. This includes active portfolio management, comprehensive financial strategizing, 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 a sense of security, knowing that every aspect of their financial well-being is being carefully managed by a dedicated team of professionals dedicated to maximizing their wealth and achieving their financial goals.
Why Choose Correct Capital as Your Charlotte, NC Financial Advisor?
Correct Capital is a premier choice for individuals and families in Charlotte, NC 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 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: Every piece of guidance we offer is independent, objective, and unbiased. Our independence signifies we are not 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 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 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: Correct Capital offers 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 Charlotte, NC means partnering with a team dedicated 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 seeking to achieve their financial goals and secure their future.
Other services we offer in Charlotte, NC include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
Call Correct Capital's Charlotte, NC 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 firmly believe in the relationship between an individual, family, or business owner in Charlotte, NC and their financial advisor is based on mutual trust. Committed to guiding our clients achieve their financial and personal goals, be it funding higher education for your children or making the dream purchase of that dream car in retirement. Reach out to our Charlotte, NC financial advisor team today at 877-930-4015 or get in touch with us online to begin growing your wealth in the manner you desire.
