Financial Advisor in Fontana, CA. Your hard-earned money deserves attention, and you want to feel assured about how it's growing and how it's being used. Numerous Fontana residents do not have the financial literacy to feel sure they're making the right decisions with their money, while others simply don't have the time or interest to stay up to date on market trends along with new laws, rules, and different events happening around the world. That's when you should consider hiring a dependable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Fontana, CA will make your money work for you. We utilize in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Fontana, CA and beyond. Reach out to us today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.
Not sure if you're ready to work with a financial advisor in Fontana, CA? Check out our process page to see how straightforward we make it to ascertain if you're a good fit.
A 2018 study by FINRA revealed that 53 percent of American adults are worried about their finances. The root of that apprehensiveness is frequently just not being sure they're making the right decisions with their money. Once our Fontana, CA financial advisor team gets to know you, your finances and your financial objectives, we'll design a road map to help you realize 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 solutions we can suggest. Our financial advisors in Fontana, CA have certifications that can only be awarded through exhaustive testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who provides advice on managing personal finances and investments. This role encompasses a wide range of services, from portfolio management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a comprehensive 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, reliable 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 Fontana, CA
Financial advisors can operate under different titles:
- Investment Advisors or Portfolio Managers: These professionals offer advice on securities and manage investment portfolios. They often work in RIAs and are required to serve as fiduciaries, meaning they must act within a client's best interest. Investment advisors 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 for their clients or for their own accounts. They must be registered by 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 advisor who has 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 certification have undergone extensive education and uphold high ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs provide a broad range of financial advisory services, ranging from managing debt to planning for retirement, and tax optimization strategies. Their approach is holistic, intended to meet all aspects of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed education similar to CFPs and also adhere to a fiduciary duty. Like CFPs, ChFCs focus on providing comprehensive financial advice, encompassing everything from estate planning to retirement strategies, ensuring that clients' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on boosting clients' financial literacy, guiding with basics such as saving money and creating budgets. They are suited for clients who are not yet wealthy enough to work with most financial advisors. This type of guidance provides a strong basis for handling personal finances effectively, especially for those looking to take the first step towards financial wellbeing.
- Wealth Managers: Help high-net-worth individuals, offering extensive services that include estate planning, tax help, and investment management. They work closely with their clients to manage complex financial situations and formulate wealth preservation strategies. Their skill set is tailored for enhancing the financial health and future of wealthy individuals, guaranteeing that their clients' goals and aspirations are met through customized 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 boasts CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act solely 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 extant financial situation, ascertain methods to improve it, and help you accomplish your future financial goals. Many Fontana, CA residents frequently immediately think of investing when they consider wealth management services and financial advisors. While that is a principal aspect of any financial plan, a qualified financial advisor will be able to offer you extensive financial advice that considers the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Fontana, CA will utilize to help you reach your goals.
- Financial Planning
Our money is integral to almost anything we do, from making sure we're prepared for retirement, to education, real estate transactions, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Fontana, CA offer comprehensive services and tailored guidance 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, over 70 percent of Americans overpay in taxes each year. The United States tax code is incredibly complicated, yet it allows for perfectly legal means to reduce your tax liability. A professional and trustworthy Fontana, CA 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 collection of your financial assets. They can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as art. A financial advisor in Fontana, CA will help in allocating and diversify your assets in order to mitigate risk and strategically position your money for long-term growth.
- Retirement Planning
Depending on where you currently are in life and your desired lifestyle when you retire, your Fontana, CA financial advisor will assist with tax planning, considering the optimal time to retire, when to withdraw money and how much to take out. 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 exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Fontana, CA businesses and business owners. Introducing a 401(k) plan is a superb way to maintain your best employees and keep them satisfied and happy. Our retirement consultants represent over $218 million in plan assets and thousands of plan participants nationwide. Our Fontana, CA financial advisor team offers extensive 401(k) planning for companies as well as personalized 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 accumulated in a previous Fontana, CA employer's 401(k) plan. You have several options, including keeping the money in the account it is in now, moving it to a new 401(k), or investing the money in one of a range of IRA accounts. A financial advisor will be skilled in how to best manage managing your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's natural to want to leave a legacy and pass on some wealth behind the people you care about the dearly. Wealth transfers are separate from merely leaving gifts behind in estate planning. A financial advisor in Fontana, CA 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 give themselves the title of "financial advisor," so it's vital to pick one who has accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Fontana, CA 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 managing debt, securing lower interest rates if feasible, and structuring repayments. The goal is to create a practical path forward that suits your financial capabilities and goals, eventually leading to financial freedom.
- Budgeting
Creating and staying compliant with a budget is crucial to achieving financial health and goals. Financial advisors in Fontana, CA can help clients comprehend how much money's coming in, identify areas to spend less, and set realistic spending limits that facilitate wealth accumulation. By providing tools and strategies for successful budgeting, advisors guarantee that clients can fulfill their current financial obligations while also preparing for future goals.
When you hire a Fontana, CA financial advisor at Correct Capital, we begin by getting to know you personally and your objectives. We will evaluate your current income, assets, investments, debts, and expenses. Once we've completed that, we'll work in concert with you to ascertain your preferred risk tolerance and how we can best help you accomplish your goals. As an independent advisory firm, our only job 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 Consider Hiring a Financial Advisor in Fontana, CA?
Seeking the advice of a financial advisor can be a critical step towards getting the life and financial security you want. While the right time can differ greatly from person to person, certain life events and circumstances often indicate the need for professional financial advice.
- Major Life Transitions: Life is a long line of transitions, and many of them have major financial implications. Whether you're starting a family or changing careers, these milestones can dramatically affect how your money should be used and invested. A financial advisor can guide you through these changes, ensuring that your financial plan grows to meet your evolving circumstances and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances By Yourself: Managing personal finances can be complicated, demanding, and, frankly, daunting for many. If you aren't confident to effectively manage your investments, or simply choose 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 sustainable growth.
- Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can assist you review your current financial situation, determine your retirement needs, and devise a plan to ensure you can experience your retirement years with peace of mind. This includes strategies for Social Security benefits, pension management, and withdrawal plans from retirement accounts.
- Complex Financial Products: The financial market offers a wide array 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 knowledge can be essential. They can guide you grasp 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 whenever you hire someone to do something, but particularly so when it comes to your finances. Beyond just finding a trustworthy advisor, you need one who ideally suits 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 background, including their years in the industry, the varieties of clients they've collaborated with, and their areas of expertise, can offer you a sense of their proficiency and whether they're well-suited to manage your financial situation.
- What are your qualifications and certifications?
Ask them to mention any certifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require fulfilling demanding educational, 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 aggressive strategy, their philosophy should be in harmony with your aspirations and expectations.
- How do you usually communicate with clients?
Communication method and regularity are essential to a productive client-advisor relationship. Discuss how often you'll have meetings, whether they'll be in person or virtual, and how the advisor intends to keep you informed about your investments and financial plan.
- What's your fee structure?
Advisors can be fee-only, commission-based, or a mixture thereof. Understanding how an advisor is compensated will assist you in identifying potential conflicts of interest and guarantee that their recommendations are offered with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor is a fiduciary is essential. This means they are legally required to put your interests before their own, providing advice that is in the best interest of your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide comprehensive 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 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 manage them to ensure they don't negatively impact their clients' financial plans. Fiduciary advisors must disclose conflicts of interest, and must manage them in their client's best interest.
Asking these questions will not only 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 Fontana, CA?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors earn their income through commissions on the products they sell, such as mutual funds. This fee structure can lead to a possible conflict, as the advisor could be motivated to suggest options that generate higher commissions rather than 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 most appropriate to your needs.
- Fee-Only: Fee-only advisors are compensated directly by their clients for the advice and services they provide and do not receive any commissions from product sales. This compensation can take several forms, including a percentage of the assets under management (AUM). This model is often seen as more transparent and aligned 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, fee-based advisors generally also have a fiduciary duty, which means that although they get commission from certain products, they must reveal this 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 Fontana, CA
Correct Capital is distinguished in the Fontana, CA financial advisory landscape for its customized approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or identical goals, we offer three different service models to our clients in Fontana, CA:
One-Time Financial Plan (best for validators)
This service model is best for those who are looking for the insights and advice a financial advisor can offer without the ongoing management. This service is excellent for individuals who are generally confident in managing their finances but desire professional validation to ensure they're setting their money up for success in the best way. Our team performs a thorough review of your current financial situation, 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 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 won't manage your investments for you, we'll work to look for opportunities to help you flourish financially.
Wealth Management (best for delegators)
Our wealth management service model is for clients who prefer to delegate 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 strategies and preparing for retirement 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 long-term goals.
Why Choose Correct Capital as Your Fontana, CA Financial Advisor?
Correct Capital is a leading choice for individuals and families in Fontana, CA looking for trusted, professional 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 ensures that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is done with your best interests in mind.
- Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent means we aren't tied to any financial institution or product, enabling us the freedom to select the best investments and strategies for you.
- Our Qualifications: We are a Registered Investment Advisor (RIA), which allows us access to a wide variety of investment solutions and research. Our advisor team includes two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Moreover, our retirement consultants and financial portfolio managers have over 100 years of combined experience.
- 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. Leveraging in-depth research and analytics, we prepare the most appropriate strategy for your needs.
- Ongoing Education and Resources: Correct Capital offers quarterly webinars and workshops to keep you informed and engaged with your financial health. Our commitment to client education guarantees that you are fully prepared to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Fontana, CA means joining forces with a team dedicated to your financial success. Our experience, fiduciary commitment, and personalized approach to financial planning and investment management make us the ideal partner for individuals and families looking to achieve their financial goals and secure their future.
Other services we offer in Fontana, CA include:
Call Correct Capital's Fontana, CA Financial Advisor Team Today
Your money and the choices you make with it are deeply personal. At Correct Capital, we firmly believe in the relationship between an individual, household, or entrepreneur in Fontana, CA and their financial advisor is founded on trust. Committed to helping our clients realize their financial and personal goals, whether it's sending your children to college or making the dream purchase of that dream car in retirement. Contact our Fontana, CA financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards building your wealth in the manner you desire.
