Financial Advisor in Glendale, CA. Your hard-earned money deserves attention, and you want to be secure about how it's growing and how it's being used. A lot of Glendale 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 informed 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 Glendale, CA will help your finances grow. We use in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Glendale, CA and beyond. Call us today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.
Wondering if you're ready to work with a financial advisor in Glendale, CA? Explore our process page to find out how easy we make it to determine if you're a good fit.
A 2018 study by FINRA found that 53 percent of American adults are anxious about their finances. The cause of that apprehensiveness is commonly just not being sure they're putting their money in the right places. Once our Glendale, CA financial advisor team gets to know you, your extant financial situation and your financial aims, we'll design a road map to help you realize them. As a fiduciary and an independent firm, your Correct Capital financial advisor is legally and ethically required to act in your best interest and we are not limited in the options we can suggest. Our financial advisors in Glendale, CA have certifications that can only be acquired through exhaustive 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 comprehensive definition includes a variety 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 advise on strategies that align with your goals, risk tolerance, and time horizon. While technically anyone can call themselves a financial advisor or financial planner, trustworthy and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that can only be obtained through rigorous education and exams.
Types of Financial Advisors in Glendale, CA
Financial advisors can work and market themselves under different titles:
- 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 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 buy and sell securities like stocks, bonds, and mutual funds for their clients or for themselves. They must be registered by the SEC and are generally members of FINRA. The financial products they can sell depend on 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, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors holding the CFP designation have completed rigorous education and uphold high ethical standards, including a fiduciary duty to their clients. CFPs offer a wide array of financial advisory services, including debt management to retirement planning, and estate planning. Their approach is holistic, aiming to meet all aspects of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed training similar to CERTIFIED FINANCIAL PLANNER™ Professionals and also adhere to a fiduciary duty. They focus on offering comprehensive financial advice, covering everything from estate planning to tax advice, guaranteeing that customers' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Are dedicated to improving clients' financial literacy, assisting with basics such as saving money and budgeting. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. This type of guidance delivers a solid foundation for managing personal finances efficiently, particularly for those just starting out.
- Wealth Managers: Serve high-net-worth individuals, offering extensive services that include estate planning, tax help, and investment management. They collaborate intimately with their clients to manage complex financial situations and formulate wealth preservation strategies. Their skill set is focused on maximizing the financial health and future of those with substantial assets, making sure that their clients' goals and aspirations are met through customized advice and approaches.
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 embody the highest standards of fiduciary responsibility and personalized service, making sure 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 look over your current financial situation, pinpoint means to enhance it, and help you meet your future financial goals. A lot of Glendale, CA residents commonly immediately think of investing when they consider wealth management services and financial advisors. While that is a principal part of any financial plan, an accomplished financial advisor will be able to give you overarching financial advice that takes into consideration the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Glendale, CA will implement to help you realize your goals.
- Financial Planning
Our money is a part of almost anything we do, from making sure we're prepared for retirement, to paying for college, real estate transactions, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Glendale, CA offer all-encompassing 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 pay more than necessary in taxes each year. The United States tax code is incredibly complicated, yet it allows for perfectly legal ways to reduce your tax liability. A skilled and ethical Glendale, CA financial advisor will assist you in navigating your tax implications in the interest of keeping more money in your pocket.
- Portfolio Management and Asset Management
Your financial portfolio is the collection of your financial assets. They can include equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as art. A financial advisor in Glendale, CA will help in allocating and diversify your assets to mitigate risk and best position your money for growth.
- Retirement Planning
Depending on where you currently are in life and your desired lifestyle when you hang up your cape, your Glendale, CA financial advisor will help with tax planning, evaluating the best age to retire, when to make withdrawals and how much to take out. A financial advisor will help you formulate a budget and strategy for source of income in retirement so you can enjoy your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Glendale, CA businesses and business owners. Setting up a 401(k) plan is a superb way to maintain your best employees and keep them productive and happy. Our retirement consultants oversee over $218 million in plan assets and hundreds of plan participants nationwide. Our Glendale, CA financial advisor team offers comprehensive 401(k) planning for companies as well as personalized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be challenging to know the best way to handle the money you've accumulated in a previous Glendale, CA employer's 401(k) plan. You have several options, including keeping the money in the account it is in now, transferring it to a new 401(k), or investing the money in one of a selection of IRA accounts. A financial advisor will be skilled in how to best manage managing your 401(k) funds.
- Generational Wealth Transfers
You earn your money, and it's common to want to leave a legacy and pass on some wealth behind the people you care about the dearly. Wealth transfers are distinct from merely leaving gifts behind in estate planning. A financial advisor in Glendale, CA can strategically plan your money for both your children but for future generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can give themselves the title of "financial advisor," so it's imperative to pick one who has obtained accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Glendale, 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 customized debt management plans that focus on consolidating debt, securing lower interest rates where possible, and prioritizing repayments. The goal is to create a practical path forward that matches your financial situation and goals, ultimately leading to stability.
- Budgeting
Creating and staying compliant with a budget is fundamental to achieving financial health and goals. Financial advisors in Glendale, CA can assist clients comprehend how much money's coming in, find areas to spend less, and set realistic spending limits that promote growing your wealth. By providing tools and strategies for effective budgeting, advisors make sure that clients can fulfill their current financial obligations while also saving for future goals.
When you hire a Glendale, CA financial advisor at Correct Capital, we begin by getting to know you and your objectives. We will assess your current income, assets, investments, debts, and expenses. Next we've completed 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 commitment is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can suggest, and we will never try to sell you on something we do not believe in ourselves.
When Should I Consider Hiring a Financial Advisor in Glendale, CA?
Seeking the assistance of a financial advisor can be a vital step towards getting the life and financial prosperity you want. While the optimal timing can vary widely 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 changes, and many of them have substantial financial implications. Whether you're starting a family or facing retirement, these milestones can profoundly affect your financial landscape. A financial advisor can assist you navigate these changes, ensuring that your financial plan evolves to meet your changing circumstances and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances Alone: Managing personal finances can be complicated, time-consuming, and, frankly, overwhelming for many. If you lack the experience to effectively handle your investments, or simply prefer to focus your time on other pursuits, a financial advisor can be crucial. They bring experience and objectivity to your financial decisions, helping to enhance your portfolio, avoid costly mistakes, and set up your investments for long-term growth.
- Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can aid you review your current financial situation, calculate your retirement needs, and craft a plan to ensure you can live comfortably during 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 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 expertise can be essential. They can assist you understand the risks and benefits, ensuring that any investment fits your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is crucial whenever you hire someone to do something, but especially so when it comes to your hard-earned money. In addition to finding a trustworthy advisor, you need one who best meets 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 types of clients they've collaborated with, and their areas of expertise, can provide you a sense of their expertise and whether they're prepared to handle your specific financial circumstances.
- What are your qualifications and certifications?
Ask about any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require fulfilling demanding educational, experience, and ethical standards, indicating a high level of professionalism and expertise.
- Can you describe 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 dynamic strategy, their philosophy should reflect your aspirations and expectations.
- How do you usually 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 in person or virtual, and how the advisor plans 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 mixture thereof. Understanding how an advisor is compensated will help you identify potential biases and make certain that their recommendations are offered with your best interests in mind.
- Are you a fiduciary financial advisor?
Confirming that an advisor acts as a fiduciary is vital. 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 holistic 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 give 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 Glendale, 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 financial products they offer, such as mutual funds. This fee structure can lead to a potential conflict of interest, as the advisor might be incentivized to recommend options that generate higher commissions instead of those that best meet your needs. Commission-based 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: Fee-only advisors 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 frequently regarded as more clear and aligned 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 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 even if they get commission from certain products, they must reveal this 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 Glendale, CA
Correct Capital is distinguished in the Glendale, 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 three different service models to our clients in Glendale, CA:
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 ongoing management. This service is great for individuals who largely feel good about managing their finances but seek professional insight 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 appreciate ongoing 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, quarterly meetings, and availability on an as-needed basis. While we won't be managing your portfolio, 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 hand over the management of their investments and financial planning to professionals. This includes active portfolio management, strategic financial planning, and proactive advice on a wide range of financial matters — from tax strategies and preparing for retirement to estate considerations and beyond. Our wealth management clients enjoy peace of mind, knowing that every aspect of their financial well-being is being carefully managed by a dedicated team of professionals committed to maximizing their wealth and achieving their long-term goals.
Why Choose Correct Capital as Your Glendale, CA Financial Advisor?
Correct Capital is a premier choice for individuals and families in Glendale, CA looking for trusted, professional financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:
- We are Fiduciary Advisors: As fiduciaries, Correct Capital are 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 with your best interests at heart.
- 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, enabling us the freedom to choose the best investments and strategies for you.
- Professional Credentials: We are a Registered Investment Advisor (RIA), which gives us the ability access to a wide variety of investment solutions and research. Our advisor team includes two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Moreover, our retirement consultants and financial portfolio managers have over 100 years of combined experience.
- We Are Proactive: We hold the belief that the most valuable way to create long-term financial security is to anticipate 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 well-equipped to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Glendale, CA means partnering 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 seeking to achieve their financial goals and secure their future.
Other services we offer in Glendale, CA include:
Call Correct Capital's Glendale, CA Financial Advisor Team Today
Your money and the decisions you make with it are deeply personal. At Correct Capital, we strongly believe that the relationship between an individual, household, or business owner in Glendale, CA 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 making the dream purchase of that dream car during your retirement years. Reach out to our Glendale, CA financial advisor team today at 877-930-4015 or get in touch with us online to begin building your wealth how you've always wanted.
