Financial Advisor in Greensboro, NC. Your hard-earned money deserves attention, and you want to feel confident about how it's growing and how it's being used. Numerous Greensboro 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 up to date on market trends along with new laws, rules, and global events. That's when you need a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Greensboro, NC 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 Greensboro, NC and beyond. Speak to a team member today at 877-930-4015 or contact us online to learn how Correct Capital can help you.
Not sure if you're ready to hire a financial advisor in Greensboro, NC? Check out our process page to see how easy we make it to find out if we would make a good team.
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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.
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A 2018 study by FINRA reported that 53 percent of American adults are worried about their finances. The root of that apprehensiveness is frequently simply not being sure they're making the right decisions with their money. Once our Greensboro, NC financial advisor team gets to know you, your current 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 obligated to act in your best interest and we are not limited in the plans we can put forward. Our financial advisors in Greensboro, NC have certifications that can only be acquired through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who provides advice on managing personal finances and investments. This comprehensive definition covers a variety of services, from portfolio management and retirement planning to tax planning and generational wealth transfers. 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, credible and professional advisors will have qualifications from regulatory bodies such as FINRA and the CFP Board that can only be obtained through rigorous education and exams.
Types of Financial Advisors in Greensboro, NC
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 professionals offer advice on securities and oversee investment portfolios. They often work in RIAs and are required to serve as fiduciaries, meaning they must act within a client's best interest. Investment advisors are certified with either the Securities and Exchange Commission (SEC) or state regulators, based on the assets under management.
- Broker-Dealers and Brokers: Broker-dealers trade 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 are determined by their specific licenses, such as Series 6 or Series 7. For example, someone who has a Series 7 license represents general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors holding the CFP designation have completed rigorous training and uphold the highest ethical standards, including a fiduciary duty to their clients. CFPs offer a broad range of financial advisory services, such as managing debt to retirement planning, and investment strategies. Their methodology is comprehensive, intended to meet all aspects of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have undergone training similar to CERTIFIED FINANCIAL PLANNER™ Professionals and are also bound by a fiduciary duty. Like CFPs, ChFCs specialize in offering comprehensive financial advice, encompassing areas such as investment management to retirement strategies, ensuring that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Are dedicated to enhancing clients' financial literacy, helping with fundamentals such as saving money and creating budgets. They are ideal for clients who may not possess the wealth to hire a financial advisor just yet. Financial coaching provides a strong basis for handling personal finances wisely, particularly for those in the early stages of financial planning.
- Wealth Managers: Serve high-net-worth individuals, offering extensive services that encompass estate planning, tax help, and investment management. They work closely with their clients to navigate complex financial situations and develop wealth preservation strategies. Their expertise is geared towards maximizing the financial health and legacy of affluent clients, ensuring that their clients' goals and aspirations are met through tailored advice and strategies.
Each type of financial advisor serves different needs, and the best choice depends on an individual's or organization's specific financial situation and goals. At Correct Capital, our group of advisors features CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, ensuring 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 financial situation, determine means to enhance it, and help you reach your long-term financial goals. Many Greensboro, NC residents often immediately think of investing when they consider wealth management services and financial advisors. While that is a essential feature of any financial plan, a qualified financial advisor will be able to provide you with comprehensive financial advice that gives consideration to the whole of your finances. The following are some of the services your Correct Capital financial advisor in Greensboro, NC will utilize to help you reach your goals.
- Financial Planning
Our finances are involved in almost anything 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 making sure we have enough to eat every night. The best financial advisors in Greensboro, NC offer comprehensive services and bespoke consulting by considering 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 every year. The United States tax code is notoriously complex, yet it offers perfectly legal ways to reduce your tax liability. A skilled and ethical Greensboro, NC financial advisor will guide you through your tax implications in the interest of 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 alternative assets such as art. A financial advisor in Greensboro, NC will help in allocating and diversify your assets to mitigate risk and strategically position your money for long-term growth.
- Retirement Planning
Depending on where you currently are in life and the kind of life you want to live when you retire, your Greensboro, NC financial advisor will help 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 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 Greensboro, NC businesses and business owners. Implementing a 401(k) plan is a great way to keep your best employees and keep them motivated and happy. Our retirement consultants oversee over $218 million in plan assets and thousands of plan participants nationwide. Our Greensboro, NC 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 challenging to know the best way to deal with the money you've already saved in a previous Greensboro, NC employer's 401(k) plan. You have several options, including keeping the money in the account it is currently in, transferring it to a new 401(k), or investing 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 earn your money, and it's common to wish to leave a legacy and leave 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 Greensboro, NC 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 paramount to pick one who has received accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Greensboro, NC 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 personalized debt management plans that focus on consolidating debt, achieving lower interest rates if feasible, and structuring repayments. The goal is to create a practical path forward that matches your financial capabilities and goals, ultimately leading to financial freedom.
- Budgeting
Creating and staying compliant with a budget is essential to having the financial health and life you want. Financial advisors in Greensboro, NC can help clients comprehend your income level, identify areas for savings, and set realistic spending limits that encourage wealth accumulation. By providing resources and strategies for effective budgeting, advisors guarantee that clients can fulfill their current financial obligations while also planning for future goals.
When you hire a Greensboro, NC financial advisor at Correct Capital, we start by getting to know you personally and your aims. We will analyze your current income, assets, investments, debts, and expenses. After we've accomplished that, we'll work in tandem with you to determine your preferred risk tolerance and how we can best help you grow your wealth. As an independent advisory firm, our only priority 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 Greensboro, NC?
Seeking the advice of a financial advisor can be a critical step towards achieving financial well-being, peace of mind, and wealth. While the right time can vary widely from person to person, certain life events and circumstances often indicate the need for professional financial advice.
- Major Life Changes: Life is a long line of transitions, and many of them have significant financial implications. Whether you're buying a home or changing careers, these milestones can significantly affect your financial landscape. A financial advisor can guide you through these changes, ensuring that your financial plan grows to meet your new situation and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances Alone: Managing personal finances can be complex, time-consuming, and, frankly, daunting for many. If you lack the experience to effectively manage your investments, or simply prefer to focus your time elsewhere, a financial advisor can be essential. They bring experience and wisdom to your financial decisions, assisting to improve your portfolio, prevent costly mistakes, and set up your investments for long-term growth.
- Nearing Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can assist you evaluate your current financial situation, estimate your retirement needs, and formulate 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 wide array of investment options, many of which come with their own complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's expertise can be crucial. They can guide 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 essential whenever you hire someone to do something, but especially so when it involves your hard-earned money. Beyond just finding a dependable 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 kinds of clients they've assisted, and their specializations, can offer you a sense of their skills and whether they're equipped to tackle your financial situation.
- What are your qualifications and certifications?
Ask about any certifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require meeting strict education, experience, and ethical standards, demonstrating a high level of competence and expertise.
- What is 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 dynamic strategy, their philosophy should be in harmony with your expectations and expectations.
- How do you usually communicate with clients?
Communication style and frequency are crucial to a fruitful client-advisor relationship. Inquire about how often you'll be able to meet with your advisor, whether they'll be in person or virtual, and how the advisor plans to keep you informed about your investments and financial plan.
- What's your fee structure?
Advisors can be either get money from fees/a percentage of your assets, commission from selling financial products, or a combination thereof. Understanding how an advisor is compensated will assist you in identifying potential biases and guarantee that their recommendations are given with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor serves as a fiduciary is vital. This means they are legally obligated to put your interests ahead of their own, providing 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 client education and portfolio reviews. Understanding the full scope of services offered can help you gauge whether the advisor can meet all your financial needs.
- How do you handle conflicts of interest?
An honest advisor will clearly explain potential conflicts of interest and how they deal with them to ensure they don't harm 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 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 Greensboro, NC?
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 financial products they offer, such as other financial products. This fee structure can lead to a potential conflict of interest, as the advisor could be motivated to suggest products 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 advise on products that can help you achieve your goals, but not necessarily the ones best suited to your needs.
- Fee-Only: Fee-only advisors 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 various shapes, including fixed fees assets under management (AUM). This model is often seen as more clear and aligned with the client's best interests, as it reduces conflicts of interest related to product sales.
- Fee-Based: Advisors with a fee-based approach use a combination of client-paid fees and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, fee-based advisors generally also have a fiduciary duty, which means that even if they get commission from certain products, they must reveal this to the client and are not allowed to recommend those products unless they sincerely believe they are in the client's best interests.
Correct Capital's Financial Advisory Services in Greensboro, NC
Correct Capital stands out in the Greensboro, NC 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 Greensboro, NC:
One-Time Financial Plan (best for validators)
This service model is best for those who are seeking the guidance and recommendations a financial advisor can offer without the ongoing management. This service is great for individuals who are largely confident in managing their finances but are looking for professional insight to confirm they're on the right track. Our team conducts a thorough review of your financial landscape, providing you with a detailed plan that addresses your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service caters to individuals 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 insights from our financial advisors, quarterly meetings, and availability on an as-needed basis. While we won't manage your investments for you, we'll work to look for opportunities to help you grow and save your wealth.
Wealth Management (best for delegators)
Our wealth management service model is for clients who choose to hand over the management of their investments and financial planning to professionals. This includes active investment management, strategic financial planning, and forward-looking guidance on a wide range of financial matters — from tax strategies and preparing for retirement to estate planning and beyond. Our wealth management clients enjoy a sense of security, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals committed to maximizing their wealth and achieving their long-term goals.
Why Choose Correct Capital as Your Greensboro, NC Financial Advisor?
Correct Capital is a premier choice for individuals and families in Greensboro, NC seeking trusted, professional financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:
- We're Fiduciary Advisors: As fiduciaries, we are legally obligated to act in your best interests. This commitment ensures that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is carried out with your best interests in mind.
- Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Being independent signifies we aren't tied to any specific financial institution or product, enabling us the freedom to select 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. Moreover, our retirement consultants and financial portfolio managers boast 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. Leveraging in-depth research and analytics, our aim is to craft the most appropriate strategy for your needs.
- Continuous Learning Opportunities: Correct Capital offers quarterly webinars and workshops to keep you informed and engaged with your financial health. Our commitment to client education ensures that you are well-equipped to make informed decisions alongside your advisor.
Choosing Correct Capital as your financial advisor in Greensboro, NC means joining forces with a team committed to your financial success. Our expertise, fiduciary commitment, and personalized approach to financial planning and investment management make us the perfect choice for individuals and families seeking to achieve their financial goals and secure their future.
Other services we offer in Greensboro, NC include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
- Self-Employed Retirement Plans
Call Correct Capital's Greensboro, NC 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 Greensboro, NC and their financial advisor is founded on mutual trust. Committed to helping our clients realize their personal and financial goals, be it sending your children to college or finally achieving the dream of owning that dream car during your retirement years. Reach out to our Greensboro, NC financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards building your wealth in the manner you desire.
