Financial Advisor in Fresno, CA. You work hard for your money, and you need to feel confident about how it's expanding and how it's being used. Numerous Fresno residents lack 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, regulations, and global events. That's when you need a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Fresno, CA 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 Fresno, CA 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.
Not sure if you're ready to work with a financial advisor in Fresno, CA? Check out 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 nervous about their finances. The cause of that anxiety is frequently just not being sure they're managing their money correctly. Once our Fresno, CA financial advisor team gets to know you, your finances and your financial aims, we'll design a road map to help you accomplish them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically bound to act in your best interest and we are not limited in the solutions we can endorse. Our financial advisors in Fresno, CA have certifications that can only be acquired through rigorous testing and by meeting stringent 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 investment 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 be called a financial advisor or financial planner, reliable and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that indicate their experience and education.
Types of Financial Advisors in Fresno, CA
Financial advisors come in various forms, each with different areas of expertise, compensation models, and types of services offered:
- Investment Advisors or Portfolio Managers: These advisors provide advice on securities and oversee investment portfolios. They often work in RIAs and are required to serve as fiduciaries, prioritizing their clients' interests above their own. Investment advisors are registered with either the Securities and Exchange Commission (SEC) or state regulators, depending on the assets under management.
- Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds on behalf of their clients or for 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, someone who has a Series 7 license represents 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 uphold high ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs offer a wide array of financial advisory services, such as managing debt to retirement planning, and estate planning. Their methodology is comprehensive, designed to meet all aspects 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 bound by a fiduciary duty. Like CFPs, ChFCs focus on offering comprehensive financial advice, covering areas such as investment management to retirement strategies, guaranteeing that clients' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Concentrate on boosting clients' financial literacy, guiding with basics such as saving money and creating budgets. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching offers a strong basis for managing personal finances effectively, especially for those just starting out.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering extensive services that include estate planning, tax help, and investment management. They partner closely with their clients to handle complex financial situations and develop wealth preservation strategies. Their skill set is geared towards enhancing the financial health and legacy of those with substantial assets, guaranteeing that all investments and planning strategies meet customized advice and solutions.
Each type of financial advisor offers unique expertise and services to the table. At Correct Capital, our team of advisors features CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act only in the best interest of our clients in all of our advice and dealings.
What Does a Financial Advisor Do?
A financial advisor will evaluate your current financial situation, ascertain methods to improve it, and help you accomplish your future financial goals. Many Fresno, CA residents frequently immediately think of investing when they hear wealth management services and financial advisors. While that is a key component of any financial plan, a knowledgeable financial advisor will be able to provide you with holistic financial advice that considers the whole of your finances. The following are some of the services your Correct Capital financial advisor in Fresno, CA will use to help you achieve your objectives.
- Financial Planning
Our money is integral to almost everything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a home, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Fresno, CA offer holistic services and bespoke advice by evaluating your entire financial situation.
- Tax Planning
Taxes are involved almost any time money is exchanged or used. According to the IRS's own data, more than 70 percent of Americans overpay in taxes every year. The United States tax code is notoriously complex, yet it offers perfectly legal means to minimize taxes owed. A skilled and ethical Fresno, CA financial advisor will guide you through your tax implications with the aim of keeping more money in your own account.
- Portfolio Management and Asset Management
Your financial portfolio is the assembly of your financial assets. They can include equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as real estate. A financial advisor in Fresno, CA will assist in allocating and diversify your assets to mitigate risk and strategically position your money for growth.
- Retirement Planning
Depending on where you currently are in life and your aspired lifestyle when you hang up your cape, your Fresno, CA financial advisor will help with tax implications, considering the optimal time to retire, when to withdraw money and how much to withdraw. A financial advisor will aid in creating a budget and plan for source of income 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 Fresno, CA businesses and business owners. Setting up a 401(k) plan is a great way to keep your best employees and keep them satisfied and happy. Our retirement consultants represent over $218 million in plan assets and hundreds of plan participants nationwide. Our Fresno, CA 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 tough to know the best way to handle the money you've accumulated in a previous Fresno, CA employer's 401(k) plan. You have multiple options, including leaving 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 know how to best approach managing your 401(k) funds.
- Generational Wealth Transfers
You work hard for your money, and it's natural to wish to leave a legacy and pass on some wealth behind the people you care about the dearly. Wealth transfers are separate from simply leaving gifts behind in estate planning. A financial advisor in Fresno, CA can optimize your money for both 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 necessary to pick one who has earned accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Fresno, CA financial advisor at Correct Capital must follow 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, securing lower interest rates if feasible, and structuring repayments. The goal is to create a practical path forward that suits your financial situation and goals, eventually leading to stability.
- Budgeting
Creating and staying compliant with a budget is fundamental to having the financial health and life you want. Financial advisors in Fresno, CA can assist clients comprehend their cash flow, spot areas for savings, and set realistic spending limits that encourage growing your wealth. By providing tools and strategies for successful budgeting, advisors guarantee that clients can satisfy their current financial obligations while also saving for future goals.
When you hire a Fresno, CA financial advisor at Correct Capital, we begin by getting to know you and your goals. We will assess your current income, assets, investments, debts, and expenses. Next we've done that, we'll work with you to establish your preferred risk tolerance and how we can best help you grow your wealth. As an independent advisory firm, our only responsibility 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 Speak to a Financial Advisor in Fresno, CA?
Seeking the guidance of a financial advisor can be a key step towards getting the life and financial health you want. While the optimal timing 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 substantial financial implications. Whether you're buying a home or changing careers, these milestones can significantly affect your financial landscape. A financial advisor can assist you navigate these changes, ensuring that your financial plan adapts 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 complex, demanding, and, frankly, daunting for many. If you aren't confident to effectively manage your investments, or simply prefer to focus your time elsewhere, a financial advisor can be essential. They bring insight and objectivity to your financial decisions, assisting 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 assist you review your current financial situation, estimate your retirement needs, and craft 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 wide array of investment options, many of which come with their own challenges. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's expertise can be vital. They can assist you grasp the risks and benefits, ensuring that any investment aligns with 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 particularly so when it comes to your hard-earned money. Beyond just finding a reliable advisor, you need one who perfectly matches your needs. It's important to ask the right questions 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 give you a sense of their skills and whether they're equipped to handle your specific financial circumstances.
- What are your qualifications and certifications?
Ask them to mention any certifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require adhering to demanding educational, experience, and ethical standards, signifying a high level of expertise and expertise.
- What is 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 reflect your expectations and expectations.
- How do you prefer to communicate with clients?
Communication method and frequency are essential to a productive client-advisor relationship. Ask about how often you'll have meetings, whether they'll be face-to-face or online, and how the advisor expects to keep you informed 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 mixture thereof. Knowing how an advisor is compensated will enable you to discern potential conflicts of interest and make certain that their advice is given with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor acts as a fiduciary is essential. This means they are bound by law to put your interests before their own, giving advice that optimally benefits 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 assist you in determining whether the advisor can meet all your financial needs.
- How do you handle conflicts of interest?
An honest advisor will clearly explain potential conflicts of interest and how they address them to ensure they don't harm 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 enable you to assess whether there is a good personal fit. Remember, a strong relationship with your financial advisor is built on transparency, trust, and mutual understanding.
You can find many of these questions answered on our FAQ page.
How Much Does a Financial Advisor Cost in Fresno, CA?
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 products they sell, such as mutual funds. This fee structure can lead to a possible conflict, as the advisor might be incentivized 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 most appropriate 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 several forms, including a percentage of the assets under management (AUM). This model is frequently regarded as more clear and aligned 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 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 Fresno, CA
Correct Capital stands out in the Fresno, CA financial advisory landscape for its customized approach to wealth management and financial planning. Understanding that not all clients have the same starting point or the same goals, we offer a variety of service models to our clients in Fresno, CA:
One-Time Financial Plan (best for validators)
This service model is ideal for those who are seeking the insights and advice a financial advisor can offer without the ongoing management. This service is excellent for individuals who are generally confident in managing their finances but seek professional validation 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 tackles 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 work 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 delegate the management of their investments and financial planning to professionals. This includes active investment management, comprehensive financial strategizing, and proactive advice on a wide range of financial matters — from tax 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 dedicated to maximizing their wealth and achieving their financial goals.
Why Choose Correct Capital as Your Fresno, CA Financial Advisor?
Correct Capital is a premier choice for individuals and families in Fresno, CA looking for reliable, expert financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:
- We're Fiduciary Advisors: As fiduciaries, we is legally obligated to put your interests first. This commitment ensures that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is done in a way that aligns most closely with your goals.
- Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Our independence 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 gives us the ability access to a wide variety of investment solutions and research. Our advisor team includes a couple of 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.
- Proactivity is Our Approach: 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, our aim is to craft the most appropriate strategy for your needs.
- Continuous Learning Opportunities: We offer at Correct Capital 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 Fresno, CA means partnering with a team dedicated to your financial success. Our experience, fiduciary commitment, and custom-tailored approach to financial planning and investment management make us the ideal partner for individuals and families seeking to achieve their financial goals and secure their future.
Other services we offer in Fresno, CA include:
Call Correct Capital's Fresno, CA Financial Advisor Team Today
The decisions you make about your finances and the choices you make with it are inherently personal. At Correct Capital, we firmly believe that the relationship between a person, household, or entrepreneur in Fresno, CA and their financial advisor is based on trust. Committed to guiding our clients realize their financial and personal goals, be it funding higher education for your children or finally achieving the dream of owning that dream car in retirement. Reach out to our Fresno, CA financial advisor team today at 877-930-4015 or start a conversation with us online to take the first step towards growing your wealth in the manner you desire.
