Financial Advisor in Fort Wayne, IN. Your hard-earned money deserves attention, and you want to feel assured about how it's growing and how it's being used. Numerous Fort Wayne 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 financial markets along with new laws, rules, and different events happening around the world. That's when you need a reliable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Fort Wayne, IN will help your finances grow. We utilize in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Fort Wayne, IN 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 hire a financial advisor in Fort Wayne, IN? Check out our process page to find out how straightforward we make it to determine if you're a good fit.
A 2018 study by FINRA reported that 53 percent of American adults are worried about their finances. The cause of that concern is commonly simply not being sure they're making the right decisions with their money. Once our Fort Wayne, IN financial advisor team gets to know you, your present financial situation and your financial objectives, we'll build a road map to help you reach them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically required to act in your best interest and we are not limited in the solutions we can endorse. Our financial advisors in Fort Wayne, IN have certifications that can only be awarded 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 wide-ranging definition includes a spectrum of services, from portfolio management and retirement planning to tax planning and estate planning. Financial advisors take a thorough view of your financial situation to suggest strategies that suit your goals, risk tolerance, and time horizon. While technically anyone can call themselves a financial advisor or financial planner, credible and professional advisors will have qualifications from organizations such as FINRA and the CFP Board that denote their experience and education.
Types of Financial Advisors in Fort Wayne, IN
There are several types of advisors that differ based on the services they provide, their compensation models, their areas of expertise, and their legal obligations to clients:
- Investment Advisors or Portfolio Managers: These professionals 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 certified 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 are determined by their specific licenses, such as Series 6 or Series 7. For example, an advisor who holds a Series 7 license represents general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals holding the CFP designation have completed rigorous education and adhere to high ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs provide a wide array of financial advisory services, ranging from managing debt to retirement planning, and tax optimization strategies. This approach is holistic, designed 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 comparable with CFPs and are also required to hold their clients' interests above their own. They specialize in providing comprehensive financial advice, encompassing areas such as investment management to retirement strategies, guaranteeing that customers' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Focus on enhancing clients' financial literacy, assisting 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. Financial coaching provides a good starting point for handling personal finances wisely, particularly for those looking to take the first step towards financial wellbeing.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering extensive services that encompass estate planning, tax help, and investment management. They collaborate intimately with their clients to handle complex financial situations and formulate wealth preservation strategies. Their expertise is tailored for optimizing the financial health and legacy of those with substantial assets, ensuring that every financial decision is aligned with tailored advice and approaches.
Each type of financial advisor provides unique expertise and services to the table. At Correct Capital, our group of advisors includes CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act exclusively in the best interest of our clients across all our engagements.
What Does a Financial Advisor Do?
A financial advisor will asses your present financial situation, ascertain ways to improve it, and help you achieve your future financial goals. A lot of Fort Wayne, IN residents often immediately think of investing when they consider wealth management services and financial advisors. While that is a key aspect of any financial plan, an experienced 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 Fort Wayne, IN will utilize in order to help you meet your goals.
- Financial Planning
Our finances are involved in almost anything we do, from making sure we're prepared for retirement, to education, real estate deals, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Fort Wayne, IN offer holistic services and personalized guidance by evaluating 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, over 70 percent of Americans pay more than necessary in taxes each year. The United States tax code is notoriously complex, yet it offers perfectly legal ways to reduce your tax liability. A skilled and ethical Fort Wayne, IN financial advisor will help you navigate your tax implications to ensure keeping more money in your own account.
- Portfolio Management and Asset Management
Your financial portfolio is the aggregation 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 Fort Wayne, IN will help in allocating and diversify your assets to mitigate risk and optimally 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 hang up your cape, your Fort Wayne, IN financial advisor will assist with tax planning, considering the best age to retire, when to make withdrawals and how much to take out. A financial advisor will aid in creating a budget and plan for where your income will come from in retirement so you can spend your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Fort Wayne, IN businesses and business owners. Implementing 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 numerous of plan participants nationwide. Our Fort Wayne, IN financial advisor team offers comprehensive 401(k) planning for companies as well as customized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be challenging to know the best way to deal with the money you've accumulated in a previous Fort Wayne, IN employer's 401(k) plan. You have multiple options, such as 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 know how to best navigate managing your 401(k) funds.
- Generational Wealth Transfers
You work hard for your money, and it's normal to want to leave a legacy and pass on some wealth behind the people you care about the most. Wealth transfers are separate from merely leaving gifts behind in estate planning. A financial advisor in Fort Wayne, IN can strategically plan your money for not only your children but for future generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's paramount to choose one who has obtained accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Fort Wayne, IN financial advisor at Correct Capital must observe 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, achieving lower interest rates if feasible, and structuring repayments. The goal is to create a practical path forward that matches your financial situation and goals, eventually leading to stability.
- Budgeting
Creating and staying compliant with a budget is crucial to achieving financial health and goals. Financial advisors in Fort Wayne, IN can assist clients grasp how much money's coming in, identify areas for savings, and set realistic spending limits that promote growing your wealth. By providing tools and strategies for effective budgeting, advisors make sure that clients can meet their current financial obligations while also preparing for future goals.
When you hire a Fort Wayne, IN financial advisor at Correct Capital, we begin by getting to know you personally and your objectives. We will analyze your current income, assets, investments, debts, and expenses. Then we've done that, we'll work with you to ascertain your preferred risk tolerance and how we can best help you grow your money. As an independent advisory firm, our only obligation is to act in your best interest. There is no limitation to the services, products, and investment opportunities our financial advisor team can put forward, 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 Fort Wayne, IN?
Seeking the assistance of a financial advisor can be a key step towards getting the life and financial security you want. While the right time can vary widely from person to person, certain life events and circumstances often suggest the need for expert financial advice.
- Major Life Changes: Life is a long line of changes, and many of them have substantial financial implications. Whether you're starting a family or changing careers, these milestones can profoundly affect your financial landscape. A financial advisor can help you through these changes, ensuring that your financial plan adapts to meet your changing situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: Managing personal finances can be complicated, time-consuming, and, frankly, overwhelming for many. If you lack the experience to successfully manage your investments, or simply choose to focus your time elsewhere, a financial advisor can be crucial. They bring insight and wisdom to your financial decisions, helping to enhance your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
- Getting Close to Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can help you evaluate your current financial situation, calculate your retirement needs, and devise a plan to ensure you can enjoy your retirement years with peace of mind. This includes strategies for Social Security benefits, pension management, and distribution strategies from retirement accounts.
- Complex Financial Products: The financial market offers a myriad of investment options, many of which come with their own 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 vital. They can assist you understand 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 when you're hiring someone for any service, but especially so when it comes to your hard-earned money. In addition to finding a dependable advisor, you need one who ideally suits your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's background, including their time spent in the industry, the varieties of clients they've worked with, and their expert areas, can give you a sense of their expertise and whether they're well-suited to manage your financial situation.
- What are your qualifications and certifications?
Inquire about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require fulfilling rigorous education, experience, and ethical standards, demonstrating a high level of competence and expertise.
- What is your investment philosophy?
An advisor's investment philosophy should match your risk tolerance and financial goals. Whether they favor a conservative approach with a focus on long-term growth or a more aggressive strategy, their philosophy should resonate with your aspirations and expectations.
- How do you prefer to communicate with clients?
Communication style and regularity are crucial to a fruitful client-advisor relationship. Inquire about how often you'll have meetings, whether they'll be face-to-face or virtual, 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 combination thereof. Understanding how an advisor is compensated will enable you to discern potential biases and make certain that their recommendations are 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 essential. This means they are legally required to put your interests ahead of 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 client education and portfolio reviews. Grasping the full scope of services offered can enable you to assess 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 harm their clients' financial plans. Fiduciary advisors must make known 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 Fort Wayne, IN?
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 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 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 clear and in line with the client's best interests, as it reduces conflicts of interest related to product sales.
- Fee-Based: Fee-based advisors use a combination of fees paid by the client and commissions from selling financial products. While this model offers a mix of the fee-only and commission-based structures, fee-based advisors typically also have a fiduciary duty, which means that although 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 Fort Wayne, IN
Correct Capital is distinguished in the Fort Wayne, IN financial advisory landscape for its customized approach to wealth management and financial planning. Understanding that not all clients have the same starting point or identical goals, we offer a variety of service models to our clients in Fort Wayne, IN:
One-Time Financial Plan (best for validators)
This service model is ideal for those who are seeking the guidance and recommendations a financial advisor can offer without the continuous oversight. This service is great for individuals who are largely confident in managing their finances but are looking for professional validation to ensure they're doing things the right way. 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 caters to people who value consistent guidance and advice as their financial situation changes, 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 manage your investments for you, 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 portfolio management, comprehensive financial strategizing, and proactive advice on a wide range of financial matters — from tax planning and retirement planning to estate considerations and beyond. Our wealth management clients enjoy a sense of security, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals committed to maximizing their wealth and realizing their long-term goals.
Why Choose Correct Capital as Your Fort Wayne, IN Financial Advisor?
Correct Capital is a leading choice for individuals and families in Fort Wayne, IN looking for trusted, professional financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:
- We are Fiduciary Advisors: As fiduciaries, Correct Capital 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 carried out with your best interests at heart.
- Our I.O.U. Promise: Every piece of guidance 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 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 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. Leveraging in-depth research and analytics, our aim is to craft 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 dedication to client education guarantees that you are well-equipped to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Fort Wayne, IN means partnering with a team committed to your financial success. Our expertise, fiduciary commitment, and custom-tailored approach to financial planning and investment management make us the ideal partner for individuals and families looking to achieve their financial goals and safeguard their future.
Other services we offer in Fort Wayne, IN include:
Call Correct Capital's Fort Wayne, IN Financial Advisor Team Today
The decisions you make about your finances and the choices you make with it are deeply personal. At Correct Capital, we firmly believe in the relationship between an individual, household, or business owner in Fort Wayne, IN and their financial advisor is founded on trust. Committed to guiding our clients achieve their personal and financial goals, whether it's sending your children to college or finally achieving the dream of owning that dream car in retirement. Reach out to our Fort Wayne, IN financial advisor team today at 877-930-4015 or start a conversation with us online to begin building your wealth how you've always wanted.
