Financial Advisor in Eugene, OR. Your hard-earned money deserves attention, and you need to be confident about how it's being managed and how it's being used. Many Eugene residents do not have the financial literacy to feel sure they're making the optimal decisions with their money, while others simply don't have the time or inclination to stay informed on financial markets along with new laws, regulations, and global events. That's when you need a dependable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Eugene, OR will help your finances grow. We use in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Eugene, OR and beyond. Call us today at 877-930-4015 or contact us through our website to learn how Correct Capital can help you.
Wondering if you're ready to work with a financial advisor in Eugene, OR? Take a look at our process page to discover how straightforward we make it to find out if you're a good fit.
A 2018 study by FINRA found that 53 percent of American adults are anxious about their finances. The cause of that concern is frequently just not being sure they're putting their money in the right places. After our Eugene, OR financial advisor team gets to know you, your current financial situation and your financial goals, we'll implement a road map to help you accomplish them. As a fiduciary and an independent firm, every Correct Capital financial advisor is required to act in your best interest and we are not limited in the plans we can offer you. Our financial advisors in Eugene, OR have certifications that can only be awarded through rigorous testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who assists individuals oversee their money, budget, put enough money away, and prepare for their financial future. This role encompasses a spectrum of services, from investment management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a thorough view of your financial situation to advise on 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 indicate their experience and education.
Types of Financial Advisors in Eugene, OR
Financial advisors can operate under different titles:
- Investment Advisors or Portfolio Managers: These professionals offer advice on securities and manage investment portfolios. They're commonly associated with 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 size of the assets they manage.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds for their clients or for themselves. They must register with the SEC and are typically members of FINRA. The financial products they can sell are determined by their specific licenses, such as Series 6 or Series 7. For example, an individual 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): Professionals with the CFP certification have undergone extensive education and adhere to the highest ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs offer a broad range of financial planning services, such as managing debt to retirement planning, and tax optimization strategies. Their methodology is comprehensive, designed to satisfy every aspect of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have undergone education comparable with CFPs and are also required to hold their clients' interests above their own. Like CFPs, ChFCs focus on providing comprehensive financial advice, covering everything from estate planning to retirement strategies, guaranteeing that clients' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on enhancing clients' financial literacy, assisting with basics such as saving money and budgeting. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. Their services provides a good starting point for managing personal finances wisely, particularly for those looking to take the first step towards financial wellbeing.
- 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 formulate wealth preservation strategies. Their skill set is geared towards maximizing the financial health and future of those with substantial assets, ensuring that all investments and planning strategies meet tailored 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 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 evaluate your current finances, pinpoint ways to improve it, and help you achieve your future financial goals. A lot of Eugene, OR residents frequently immediately think of investing when they hear wealth management services and financial advisors. While that is a principal aspect of any financial plan, an experienced financial advisor will be able to offer you extensive financial advice that takes into account the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Eugene, OR will utilize to help you meet your objectives.
- Financial Planning
Our finances are involved in almost anything we do, from making sure we're set up in retirement, to education, buying and/or selling a home, picking insurance policies, and putting food on the table each night. The best financial advisors in Eugene, OR offer holistic services and personalized guidance by taking into account your entire financial situation.
- Tax Planning
Tax considerations play a role in almost every financial transaction and transfer. According to the IRS's own data, more than 7 out of 10 of Americans pay more than necessary in taxes every year. The United States tax code is incredibly complicated, yet it allows for perfectly legal means to minimize taxes owed. A reliable and expert Eugene, OR financial advisor will assist you in navigating your tax implications in the interest of keeping more money in your pocket.
- 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 Eugene, OR will help to allocate and diversify your assets in order to mitigate risk and best position your money for long-term success.
- Retirement Planning
Depending on where you stand in life and your aspired lifestyle when you hang up your cape, your Eugene, OR financial advisor will help 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 strategy for where your income will come from in retirement so you can live out your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Eugene, OR businesses and business owners. Implementing a 401(k) plan is a great way to maintain 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 Eugene, OR financial advisor team offers extensive 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 difficult to know the best way to manage the money you've already saved in a previous Eugene, OR employer's 401(k) plan. You have a number of options, including keeping the money in the account it is currently in, moving it to a new 401(k), or investing 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 work hard for your money, and it's common to wish to leave a legacy and leave some wealth behind the people you care about the most. Wealth transfers are distinct from just leaving gifts behind in estate planning. A financial advisor in Eugene, OR 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 vital to pick one who has obtained accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Eugene, OR 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 if feasible, and prioritizing repayments. The goal is to create a workable path forward that matches your financial situation and goals, eventually leading to stability.
- Budgeting
Creating and sticking to a budget is crucial to having the financial health and life you want. Financial advisors in Eugene, OR can help clients understand how much money's coming in, identify areas to spend less, and set realistic spending limits that facilitate wealth accumulation. By providing resources and strategies for successful budgeting, advisors ensure that clients can satisfy their current financial obligations while also saving for future goals.
When you hire a Eugene, OR financial advisor at Correct Capital, we begin by getting to know you and your objectives. We will analyze your current income, assets, investments, debts, and expenses. After we've accomplished that, we'll work 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 priority is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can suggest, 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 Eugene, OR?
Seeking the guidance of a financial advisor can be a key 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 signal the need for expert financial advice.
- Major Life Changes: Life is a long line of changes, and many of them have major financial implications. Whether you're starting a family or changing careers, these milestones can profoundly affect how your money should be used and invested. A financial advisor can assist you navigate these changes, ensuring that your financial plan adapts to meet your changing circumstances and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complex, demanding, and, frankly, daunting for many. If you aren't confident to successfully manage your investments, or simply prefer to focus your energy elsewhere, a financial advisor can be essential. They bring expertise and objectivity to your financial decisions, assisting to optimize your portfolio, avoid costly mistakes, and set up your investments for long-term growth.
- Nearing Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can help you review your current financial situation, determine your retirement needs, and devise a plan to ensure you can live comfortably during your retirement years without worry. This includes strategies for Social Security benefits, pension management, and withdrawal plans from retirement accounts.
- Complex Financial Products: The financial market offers a plethora of investment options, many of which come with their own complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's insight can be essential. They can assist you understand 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 crucial whenever you hire someone to do something, but particularly so when it comes to your finances. Beyond just finding a reliable advisor, you need one who best meets your needs. It's important to inquire properly during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's experience, including their years in the industry, the varieties of clients they've assisted, and their specializations, can give you a sense of their expertise and whether they're equipped to handle your financial situation.
- What are your qualifications and certifications?
Ask about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require fulfilling demanding educational, experience, and ethical standards, demonstrating a high level of competence 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 conservative approach with a focus on long-term growth or a more dynamic strategy, their philosophy should resonate with your goals and expectations.
- How do you prefer to communicate with clients?
Communication style and frequency are essential to a fruitful client-advisor relationship. Discuss how often you'll have meetings, whether they'll be in person or virtual, and how the advisor plans to keep you updated about how your investments are going and if you need any updates to your plan.
- What's your fee structure?
Advisors can be fee-only, commission-based, or a combination thereof. Understanding how an advisor is compensated will enable you to discern potential biases and make certain that their advice is offered with your best interests in mind.
- Do you have a fiduciary duty to your clients?
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 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. 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 transparently share potential conflicts of interest and how they manage them to ensure they don't harm their clients' financial plans. Fiduciary advisors must reveal 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 help you gauge 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 Eugene, OR?
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 products they sell, such as insurance policies. This fee structure can create a possible conflict, as the advisor could be motivated to recommend products that generate higher commissions instead of those that best meet your needs. These advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to recommend products that can aid in achieving your goals, but not necessarily the ones best suited to your needs.
- Fee-Only: Advisors on a fee-only basis are compensated straightforwardly by clients for the advice and services they provide and do not receive any commissions from product sales. This compensation can take various shapes, including 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 mix of the fee-only and commission-based structures, fee-based advisors generally also have a fiduciary duty, which means that although 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 Eugene, OR
Correct Capital is distinguished in the Eugene, OR financial advisory landscape for its bespoke approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or the same goals, we offer a variety of service models to our clients in Eugene, OR:
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 continuous oversight. This service is excellent for individuals who largely feel good about managing their finances but desire professional validation to confirm they're setting their money up for success in the best 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 ongoing 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, regular check-ins every quarter, and open availability if the need ever arises. While we won't be managing your portfolio, we'll strive to look for opportunities to help you save and grow your wealth.
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 investment management, strategic financial planning, and proactive advice 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 carefully managed by a dedicated team of professionals dedicated to maximizing their wealth and realizing their long-term goals.
Why Choose Correct Capital as Your Eugene, OR Financial Advisor?
Correct Capital is a premier choice for individuals and families in Eugene, OR 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, 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 carried out 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 aren't tied to any specific financial institution or product, allowing us the freedom to choose the best investments and strategies for you.
- Professional Credentials: We are a Registered Investment Advisor (RIA), which gives us the ability access to a wide variety of investment solutions and research. Our advisor team includes 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 Eugene, OR means joining forces with a team dedicated to your financial success. Our expertise, 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 secure their future.
Other services we offer in Eugene, OR include:
Call Correct Capital's Eugene, OR Financial Advisor Team Today
Your money and the decisions you make with it are inherently personal. At Correct Capital, we strongly believe that the relationship between an individual, household, or business owner in Eugene, OR and their financial advisor is founded on trust. Committed to helping our clients realize their personal and financial goals, be it sending your children to college or finally achieving the dream of owning that dream car in retirement. Reach out to our Eugene, OR 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.
