Financial Advisor in Denver, CO. Your hard-earned money deserves attention, and you need to be assured about how it's being managed and how it's being used. Many Denver residents do not have the financial literacy to feel like they can handle their investments and finances by themselves, while others simply don't have the time or inclination to stay informed on market trends along with new laws, regulations, and global events. That's when you need a trustworthy, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Denver, CO 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 Denver, CO and beyond. Speak to a team member today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.
Not sure if you're ready to hire a financial advisor in Denver, CO? Take a look at our process page to discover how straightforward 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 found that 53 percent of American adults are anxious about their finances. The cause of that apprehensiveness is commonly just not being sure they're putting their money in the right places. Once our Denver, CO financial advisor team gets to know you, your finances and your financial ambitions, we'll build a road map to help you accomplish 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 offer you. Our financial advisors in Denver, CO have certifications that can only be acquired through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who provides advice on managing personal finances and investments. This role encompasses a variety of services, from portfolio management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a thorough view of your financial situation to recommend strategies that suit your goals, risk tolerance, and time horizon. 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 denote their experience and education.
Types of Financial Advisors in Denver, CO
Financial advisors come in various forms, each with different areas of expertise, compensation models, and types of services offered:
- Investment Advisors or Portfolio Managers: These advisors provide advice on securities and manage investment portfolios. They often work in RIAs and are required to serve as fiduciaries, 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, depending on the assets under management.
- Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds on behalf of their clients or for their own accounts. They must register with the SEC and are typically members of FINRA. The financial products they can sell depend on their specific licenses, such as Series 6 or Series 7. For example, an advisor who holds a Series 7 license represents general securities, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals holding the CFP designation have undergone extensive training and uphold the highest ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs offer a vast spectrum of financial advisory services, ranging from managing debt to retirement planning, and investment strategies. Their methodology is holistic, intended to meet 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 bound by a fiduciary duty. Like CFPs, ChFCs specialize in providing holistic financial advice, covering areas such as investment management to retirement strategies, ensuring that clients' financial goals are met with the highest ethical standards.
- Financial Coaches: Are dedicated to boosting 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. This type of guidance delivers a strong basis for handling personal finances efficiently, especially for those just starting out.
- Wealth Managers: Help high-net-worth individuals, offering extensive services that encompass estate planning, tax help, and investment management. They work closely with their clients to navigate complex financial situations and implement wealth preservation strategies. This expertise is focused on optimizing the financial health and future of those with substantial assets, making sure that every financial decision is aligned with customized advice and solutions.
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 embody the highest standards of fiduciary responsibility and personalized service, guaranteeing 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 examine your extant financial situation, ascertain means to improve it, and help you reach your long-term financial goals. Many Denver, CO residents frequently immediately think of investing when they consider wealth management services and financial advisors. While that is a central feature of any financial plan, a professional financial advisor will be able to offer you extensive financial advice that gives consideration to the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Denver, CO will use to help you realize your objectives.
- Financial Planning
Our finances are integral to almost everything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a home, picking insurance policies, and putting food on the table each night. The best financial advisors in Denver, CO offer holistic services and tailored advice by taking into account your entire financial situation.
- Tax Planning
Taxes are involved in virtually every financial transaction and transfer. According to the IRS's own data, more than 7 out of 10 of Americans overpay in taxes each year. The United States tax code is notoriously complex, yet it provides perfectly legal means to reduce your tax liability. A reliable and expert Denver, CO financial advisor will help you navigate your tax implications in the interest of keeping more money in your pocket.
- 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 Denver, CO will assist in allocating and diversify your assets to mitigate risk and strategically position your money for growth.
- Retirement Planning
Depending on where you currently are in life and the kind of life you want to live when you retire, your Denver, CO 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 aid in creating a budget and plan for where your income will come from in retirement so you can enjoy your golden years just how you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Denver, CO businesses and business owners. Introducing a 401(k) plan is a superb way to retain your best employees and keep them satisfied and happy. Our retirement consultants oversee over $218 million in plan assets and hundreds of plan participants nationwide. Our Denver, CO financial advisor team offers comprehensive 401(k) planning for companies as well as customized benefits for their employees.
- 401(k) Rollover
When transitioning to a new job, it can be challenging to know the best way to handle the money you've already saved in a previous Denver, CO employer's 401(k) plan. You have several options, including leaving the money in the account it is currently in, moving 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 approach managing your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's common to wish to leave a legacy and bequeath some wealth behind the people you care about the most. Wealth transfers are distinct from simply leaving gifts behind in estate planning. A financial advisor in Denver, CO can strategically plan your money for both your children but for future generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can give themselves the title of "financial advisor," so it's crucial to choose one who has earned accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Denver, CO 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 tailored debt management plans that focus on consolidating debt, achieving lower interest rates where possible, and prioritizing repayments. The goal is to create a practical path forward that aligns with your financial capabilities and goals, ultimately leading to financial freedom.
- Budgeting
Creating and sticking to a budget is essential to having the financial health and life you want. Financial advisors in Denver, CO can assist clients understand how much money's coming in, find areas to spend less, and set realistic spending limits that facilitate growing your wealth. By providing tools and strategies for effective budgeting, advisors guarantee that clients can fulfill their current financial obligations while also planning for future goals.
When you hire a Denver, CO financial advisor at Correct Capital, we begin by getting to know you personally and your goals. We will assess your current income, assets, investments, debts, and expenses. Once we've done that, we'll work in concert with you to establish your preferred risk tolerance and how we can best help you grow your wealth. As an independent advisory firm, our only obligation is to act in your best interest. There is no restrictions to the services, products, and investment opportunities our financial advisor team can offer you, and we will never try to sell you on something we do not believe in ourselves.
When Should I Speak to a Financial Advisor in Denver, CO?
Seeking the guidance of a financial advisor can be a critical step towards achieving financial health, peace of mind, and wealth. While the right time can differ greatly from person to person, certain life events and circumstances often signal the need for expert financial advice.
- Major Life Transitions: Life is a series of changes, and many of them have significant financial implications. Whether you're starting a family or facing retirement, these milestones can dramatically affect your financial landscape. A financial advisor can help you manage these changes, ensuring that your financial plan adapts to meet your new situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complicated, demanding, and, frankly, overwhelming for many. If you aren't confident to effectively handle your investments, or simply prefer to focus your energy elsewhere, a financial advisor can be invaluable. They bring expertise and perspective to your financial decisions, helping to enhance 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 evaluate your current financial situation, estimate your retirement needs, and craft a plan to ensure you can live comfortably during your retirement years without worry. 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 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 help you comprehend 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 finances. In addition to finding a dependable 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 experience, including their time spent in the industry, the varieties of clients they've assisted, and their areas of expertise, can give you a sense of their skills and whether they're well-suited to tackle your specific financial circumstances.
- What are your qualifications and certifications?
Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require meeting strict education, experience, and ethical standards, indicating a high level of expertise and expertise.
- Can you describe your investment philosophy?
An advisor's investment philosophy should complement 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 goals and expectations.
- How do you prefer to communicate with clients?
Communication method and frequency are vital to a productive client-advisor relationship. Inquire about how often you'll be able to meet with your advisor, whether they'll be in person or virtual, and how the advisor intends to keep you updated about your investments and financial plan.
- How are you compensated for your services?
Advisors can be fee-only, commission-based, or a mixture thereof. Knowing how an advisor is compensated will assist you in identifying potential biases and guarantee that their advice is made with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor serves as a fiduciary is crucial. This means they are bound by law to put your interests before their own, offering advice that best serves your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide 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 openly discuss potential conflicts of interest and how they address them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must disclose conflicts of interest, and must manage them in their client's best interest.
Asking these questions will not only 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 Denver, CO?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors make their earnings through commissions on the financial products they offer, such as insurance policies. This fee structure can lead to a possible conflict, as the advisor could be motivated to suggest options 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 advise on products that can aid in achieving your goals, but not necessarily the ones best suited 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 hourly rates assets under management (AUM). This model is frequently regarded as more transparent 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 client-paid fees and commissions from selling financial products. While this model offers a blend 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 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 Denver, CO
Correct Capital is distinguished in the Denver, CO 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 three different service models to our clients in Denver, CO:
One-Time Financial Plan (best for validators)
This service model is ideal 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 largely feel good about managing their finances but desire professional insight to ensure 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 people who value consistent guidance and advice as their financial situation evolves, or when they have specific questions about something related to their finances. This model offers monthly insights from our financial advisors, quarterly meetings, and open availability if the need ever arises. While we will not be managing your portfolio, we'll strive to look for opportunities to help you flourish financially.
Wealth Management (best for delegators)
Our wealth management service model is for clients who choose to delegate the management of their investments and financial planning to professionals. This includes active investment management, comprehensive financial strategizing, and proactive advice on a wide range of financial matters — from tax strategies and preparing for retirement to estate considerations and beyond. Our wealth management clients enjoy peace of mind, 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 Denver, CO Financial Advisor?
Correct Capital is a leading choice for individuals and families in Denver, CO looking for trusted, professional financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:
- We're Fiduciary Advisors: As fiduciaries, Correct Capital are 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 in a way that aligns most closely with your goals.
- Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Being independent signifies we aren't tied to any specific financial institution or product, enabling us the freedom to select the best investments and strategies for you.
- Professional Credentials: 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. Additionally, our retirement consultants and financial portfolio managers boast 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.
- 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 alongside your advisor.
Choosing Correct Capital as your financial advisor in Denver, CO means joining forces with a team committed to your financial success. Our experience, fiduciary commitment, and custom-tailored approach to financial planning and investment management make us the perfect choice for individuals and families seeking to achieve their financial goals and safeguard their future.
Other services we offer in Denver, CO 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 Denver, CO 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 in the relationship between an individual, household, or business owner in Denver, CO and their financial advisor is founded on mutual trust. Dedicating our lives to helping our clients achieve their financial and personal goals, whether it's sending your children to college or making the dream purchase of that dream car in retirement. Reach out to our Denver, CO financial advisor team today at 877-930-4015 or get in touch with us online to begin growing your wealth how you've always wanted.
