Financial Advisor in Fort Worth, TX. You work hard for your money, and you need to be confident about how it's being managed and how it's being used. Many Fort Worth residents lack the financial literacy to feel confident they're making the optimal decisions with their money, while others are too busy or interest to stay up to date on financial markets along with new laws, rules, and global events. That's when you should consider hiring a reliable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Fort Worth, TX will make your money work for you. We utilize in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Fort Worth, TX and beyond. Speak to a team member today at 877-930-4015 or contact us online to see if Correct Capital is a good fit for you.
Wondering if you're ready to work with a financial advisor in Fort Worth, TX? Take a look at our process page to see how straightforward we make it to find out if you're a good fit.
A 2018 study by FINRA revealed that 53 percent of American adults are anxious about their finances. The root of that anxiety is commonly simply not being sure they're putting their money in the right places. Once our Fort Worth, TX financial advisor team gets to know you, your current financial situation and your financial ambitions, we'll create a road map to help you reach 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 options we can endorse. Our financial advisors in Fort Worth, TX have certifications that can only be gained through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who helps individuals manage their money, budget, put enough money away, and plan for their financial future. This broad definition covers a variety of services, from portfolio management and retirement planning to tax planning and estate planning. The primary goal of a financial advisor is to help individuals and organizations reach their financial objectives by creating strategies that align with their risk tolerance, financial situation, and long-term goals. While technically anyone can call themselves a financial advisor or financial planner, trustworthy and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.
Types of Financial Advisors in Fort Worth, TX
Financial advisors can work and market themselves under different titles:
- Investment Advisors or Portfolio Managers: These professionals offer advice on securities and oversee investment portfolios. They're commonly associated with RIAs and are required to act in a fiduciary capacity, putting their clients' interests above their own. Portfolio managers are registered with either the Securities and Exchange Commission (SEC) or state regulators, based on the size of the assets they manage.
- Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds on behalf of 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 instance, a broker who has a Series 7 license is qualified to sell general securities, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals with the CFP certification have completed rigorous training and adhere to the highest ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs provide a vast spectrum of financial planning services, ranging from managing debt to planning for retirement, and investment strategies. Their methodology is holistic, intended to satisfy every facet of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed training similar to CFPs and also adhere to a fiduciary duty. They specialize in providing holistic financial advice, covering areas such as estate planning to retirement strategies, guaranteeing that customers' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Are dedicated to boosting clients' financial literacy, helping 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. Financial coaching provides a solid foundation for managing personal finances efficiently, especially for those in the early stages of financial planning.
- 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 navigate complex financial situations and implement wealth preservation strategies. Their expertise is tailored for optimizing the financial health and legacy of those with substantial assets, ensuring that all investments and planning strategies meet personalized advice and solutions.
Each type of financial advisor offers unique expertise and services to the table. At Correct Capital, our team of advisors boasts CFPs and other qualified professionals who embody the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act solely in the best interest of our clients across all our engagements.
What Does a Financial Advisor Do?
A financial advisor will evaluate your present finances, ascertain ways to improve it, and help you accomplish your future financial goals. Many Fort Worth, TX residents often immediately think of investing when they hear wealth management services and financial advisors. While that is a essential element of any financial plan, a certified financial advisor will be able to provide you with overarching financial advice that takes into account the whole of your finances. Below are some of the services your Correct Capital financial advisor in Fort Worth, TX will implement to help you reach your goals.
- Financial Planning
Our money is a part of almost anything we do, from making sure we're set up in retirement, to paying for college, real estate transactions, picking insurance policies, and putting food on the table each night. The best financial advisors in Fort Worth, TX offer holistic services and bespoke consulting by taking into account 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, more than 7 out of 10 of Americans pay more than necessary in taxes each year. The United States tax code is incredibly complicated, yet it offers perfectly legal ways to reduce your tax liability. A reliable and expert Fort Worth, TX financial advisor will help you navigate your tax implications in the interest of keeping more money in your own account.
- 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 real estate. A financial advisor in Fort Worth, TX will help in allocating and diversify your assets in order to mitigate risk and best position your money for long-term success.
- 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 Worth, TX financial advisor will help with tax implications, evaluating the optimal time to retire, when to withdraw money 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 enjoy your golden years just how you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Fort Worth, TX businesses and business owners. Setting up a 401(k) plan is a superb way to keep your best employees and keep them motivated and happy. Our retirement consultants represent over $218 million in plan assets and thousands of plan participants nationwide. Our Fort Worth, TX financial advisor team offers thorough 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 tough to know the best way to manage the money you've accumulated in a previous Fort Worth, TX employer's 401(k) plan. You have a number of options, such as keeping the money in the account it is in now, transferring it to a new 401(k), or putting the money in one of a variety 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 wish to leave a legacy and bequeath some wealth behind the people you care about the dearly. Wealth transfers are different from just leaving gifts behind in estate planning. A financial advisor in Fort Worth, TX can strategically plan your money for not only 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 paramount to choose one who has received accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Fort Worth, TX 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, securing lower interest rates if feasible, and structuring repayments. The goal is to create a manageable path forward that suits your financial capabilities and goals, eventually 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 Fort Worth, TX can assist clients understand how much money's coming in, identify areas to spend less, and set realistic spending limits that facilitate growing your wealth. By providing resources and strategies for successful budgeting, advisors ensure that clients can meet their current financial obligations while also planning for future goals.
When you hire a Fort Worth, TX financial advisor at Correct Capital, we begin by getting to know you and your objectives. We will evaluate your current income, assets, investments, debts, and expenses. Then we've completed that, we'll work in tandem with you to establish your preferred risk tolerance and how we can best help you realize your goals. As an independent advisory firm, our only commitment is to act in your best interest. There is no limit 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 Speak to a Financial Advisor in Fort Worth, TX?
Seeking the assistance of a financial advisor can be a key step towards getting the life and financial prosperity you want. While the ideal moment can differ greatly from person to person, certain life events and circumstances often suggest the need for expert financial advice.
- Major Life Changes: Life is a series of changes, and many of them have major financial implications. Whether you're buying a home or facing retirement, 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 Interest to Manage Your Finances By Yourself: Managing personal finances can be complicated, demanding, and, frankly, overwhelming for many. If you aren't confident to successfully handle your investments, or simply choose to spend your energy on other pursuits, a financial advisor can be crucial. They bring experience and objectivity to your financial decisions, aiding to enhance your portfolio, prevent costly mistakes, and set up your investments for long-term growth.
- Getting Close to Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can aid you evaluate your current financial situation, determine 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 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 crucial. 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 crucial whenever you hire someone to do something, but especially so when it involves your finances. Beyond just finding a reliable 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 years in the industry, the kinds of clients they've collaborated with, and their areas of expertise, can give you a sense of their expertise 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 holds. These accreditations often require adhering to strict education, experience, and ethical standards, indicating a high level of professionalism and expertise.
- Can you describe 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 aggressive strategy, their philosophy should reflect your goals and expectations.
- How do you prefer to communicate with clients?
Communication style and regularity are crucial to a fruitful client-advisor relationship. Ask about how often you'll have meetings, whether they'll be face-to-face or virtual, and how the advisor intends to keep you informed 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 either get money from fees/a percentage of your assets, commission from selling financial products, or a combination thereof. Grasping how an advisor is compensated will enable you to discern potential conflicts of interest 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 acts as a fiduciary is crucial. This means they are bound by law 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 extensive 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. Grasping 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 transparently share potential conflicts of interest and how they manage them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must disclose conflicts of interest, and are required to manage them in their client's best interest.
Asking these questions will not only 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 Fort Worth, TX?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions make their earnings through commissions on the financial products they offer, such as other financial products. This fee structure can create a potential conflict of interest, as the advisor could be motivated to recommend 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 best suited 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 fixed fees assets under management (AUM). This model is often seen as more clear and in line with the client's best interests, as it minimizes 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 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 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 Worth, TX
Correct Capital is distinguished in the Fort Worth, TX 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 Worth, TX:
One-Time Financial Plan (best for validators)
This service model is ideal for those who are looking for 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 are looking for professional insight to ensure they're setting their money up for success in the best way. Our team performs a thorough review of your financial landscape, supplying you with a detailed plan that addresses your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service is designed for individuals who appreciate ongoing guidance and advice as their financial situation evolves, or when they have specific questions about taxes, investments, or other aspects of their finances. This model offers monthly 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 strive 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, comprehensive financial strategizing, and forward-looking guidance on a wide range of financial matters — from tax planning 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 committed to maximizing their wealth and achieving their financial goals.
Why Choose Correct Capital as Your Fort Worth, TX Financial Advisor?
Correct Capital is a leading choice for individuals and families in Fort Worth, TX 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 put your interests first. This commitment guarantees that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is carried out in a way that aligns most closely with your goals.
- Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent means we are not 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. Moreover, our retirement consultants and financial portfolio managers boast over 100 years of combined experience.
- We Are Proactive: We hold the belief that the most valuable way to create long-term financial security is to anticipate trends and lead, rather than follow. Utilizing the latest data and software to analyze trends, our aim is to craft 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 well-equipped to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Fort Worth, TX 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 ideal partner for individuals and families looking to achieve their financial goals and secure their future.
Other services we offer in Fort Worth, TX include:
Call Correct Capital's Fort Worth, TX Financial Advisor Team Today
Your money and the decisions you make with it are inherently personal. At Correct Capital, we firmly believe that the relationship between a person, family, or entrepreneur in Fort Worth, TX and their financial advisor is founded on mutual trust. Dedicating our lives to helping our clients realize their financial and personal 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 Worth, TX financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards building your wealth how you've always wanted.
