Financial Advisor in Huntington Beach, CA. You work hard for your money, and you need to feel secure about how it's expanding and how it's being used. A lot of Huntington Beach residents lack the financial literacy to feel like they can handle their investments and finances by themselves, while others simply don't have the time or interest to stay up to date on market trends along with new laws, rules, and different events happening around the world. That's when you should consider hiring a trustworthy, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Huntington Beach, CA will help your finances grow. We use in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Huntington Beach, CA and beyond. Reach out to us 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 hire a financial advisor in Huntington Beach, CA? Take a look at our process page to see how easy we make it to ascertain if we would make a good team.
A 2018 study by FINRA found that 53 percent of American adults are anxious about their finances. The root of that concern is frequently just not being sure they're making the right decisions with their money. After our Huntington Beach, CA financial advisor team gets to know you, your current financial situation and your financial goals, we'll design a road map to help you reach them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically compelled to act in your best interest and we are not limited in the solutions we can recommend. Our financial advisors in Huntington Beach, CA have certifications that can only be gained through rigorous testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who helps individuals oversee their money, budget, put enough money away, and plan for their financial future. This broad definition includes a wide range 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 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 indicate their experience and education.
Types of Financial Advisors in Huntington Beach, 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 professionals offer advice on securities and oversee investment portfolios. They often work in RIAs and are required to act in a fiduciary capacity, meaning they must act within a client's best interest. Portfolio managers are certified with either the Securities and Exchange Commission (SEC) or state regulators, depending on the amount of investments they manage.
- Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds for their clients or for their own accounts. They must be registered by the SEC and are usually members of FINRA. The financial products they can sell are determined by their specific licenses, such as Series 6 or Series 7. For example, an advisor who has a Series 7 license represents general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals holding the CFP certification have undergone extensive training and uphold high ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs offer a wide array of financial advisory services, including debt management to retirement planning, and estate planning. Their approach is all-encompassing, intended to address every facet of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed training comparable with CFPs and are also required to hold their clients' interests above their own. Like CFPs, ChFCs focus on providing holistic financial advice, covering everything from investment management to retirement strategies, guaranteeing that clients' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Concentrate on enhancing clients' financial literacy, helping with basics such as saving money and creating budgets. They are ideal for clients who might not have the financial resources to hire a financial advisor just yet. Financial coaching provides a strong basis for managing personal finances wisely, especially for those just starting out.
- Wealth Managers: Serve high-net-worth individuals, offering extensive services that include estate planning, tax assistance, and investment management. They collaborate intimately with their clients to navigate complex financial situations and implement wealth preservation strategies. Their skill set is geared towards optimizing the financial health and legacy of wealthy individuals, ensuring that every financial decision is aligned with personalized advice and approaches.
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 team of advisors includes CFPs and other qualified professionals who embody the highest standards of fiduciary responsibility and personalized service, making sure that we act only in the best interest of our clients across all our engagements.
What Does a Financial Advisor Do?
A financial advisor will look over your extant financial situation, determine ways to enhance it, and help you accomplish your future financial goals. Many Huntington Beach, CA residents frequently immediately think of investing when they consider wealth management services and financial advisors. While that is a principal element of any financial plan, a professional financial advisor will be able to offer you comprehensive financial advice that takes into account the whole of your finances. The following are some of the services your Correct Capital financial advisor in Huntington Beach, CA will implement in order to help you meet your objectives.
- Financial Planning
Our money is a part of almost everything we do, from making sure we're prepared for retirement, to education, buying and/or selling a house, picking insurance policies, and putting food on the table each night. The best financial advisors in Huntington Beach, CA offer all-encompassing services and personalized guidance by taking into account your entire financial situation.
- Tax Planning
Tax considerations play a role in nearly every financial transaction and transfer. According to the IRS's own data, more than 70 percent of Americans overpay in taxes every year. The United States tax code is incredibly complicated, yet it allows for perfectly legal means to minimize taxes owed. A reliable and expert Huntington Beach, CA financial advisor will help you navigate your tax implications with the aim 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 equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as art. A financial advisor in Huntington Beach, CA will assist to allocate and diversify your assets to mitigate risk and strategically position your money for growth.
- Retirement Planning
Depending on where you stand in life and your desired lifestyle when you retire, your Huntington Beach, CA financial advisor will assist with tax implications, evaluating the best age to retire, when to make withdrawals and how much to withdraw. A financial advisor will aid in creating a budget and plan for where your income will come from in retirement so you can live out your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Huntington Beach, CA businesses and business owners. Introducing a 401(k) plan is a fantastic way to retain your best employees and keep them productive and happy. Our retirement consultants represent over $218 million in plan assets and thousands of plan participants nationwide. Our Huntington Beach, CA financial advisor team offers thorough 401(k) planning for companies as well as customized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be difficult to know the best way to handle the money you've accumulated in a previous Huntington Beach, CA employer's 401(k) plan. You have a number of options, including leaving the money in the account it is currently in, transferring it to a new 401(k), or putting the money in one of a selection of IRA accounts. A financial advisor will be skilled in how to best manage handling your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's natural to desire to leave a legacy and leave some wealth behind the people you care about the most. Wealth transfers are separate from merely leaving gifts behind in estate planning. A financial advisor in Huntington Beach, CA 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 give themselves the title of "financial advisor," so it's important to choose 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 Huntington Beach, CA financial advisor at Correct Capital must observe a "Code of Ethics and Standards of Conduct" to:
- Act with honesty, integrity, competence, and diligence.
- Act in the client's best interest.
- Exercise due care.
- Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
- Maintain confidentiality and protect the privacy of client information.
- Act in a manner that reflects positively on the financial planning profession and CFP® certification.
- Debt Management
Financial advisors offer personalized debt management plans that focus on managing debt, securing lower interest rates where possible, and structuring repayments. The goal is to create a workable path forward that suits your financial capabilities and goals, eventually 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 Huntington Beach, CA can assist clients understand how much money's coming in, spot 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 preparing for future goals.
When you hire a Huntington Beach, CA financial advisor at Correct Capital, we start by getting to know you and your goals. We will analyze your current income, assets, investments, debts, and expenses. After we've accomplished that, we'll work in concert with you to establish your preferred risk tolerance and how we can best help you grow your money. As an independent advisory firm, our only obligation is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can propose, 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 Huntington Beach, CA?
Seeking the assistance of a financial advisor can be a vital step towards getting the life and financial prosperity you want. While the ideal moment can vary widely from person to person, certain life events and circumstances often suggest the need for expert financial advice.
- Major Life Transitions: Life is a series of transitions, and many of them have major 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 manage these changes, ensuring that your financial plan evolves to meet your evolving circumstances and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complicated, time-consuming, and, frankly, overwhelming for many. If you lack the experience to successfully handle your investments, or simply prefer to focus your time on other pursuits, a financial advisor can be essential. They bring insight and perspective 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 foremost reasons individuals seek out financial advice. An advisor can help you assess your current financial situation, estimate your retirement needs, and formulate a plan to ensure you can experience your retirement years without worry. 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 set of 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 assist 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 paramount whenever you hire someone to do something, but particularly so when it comes to your finances. In addition to 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 background, including their time spent in the industry, the varieties of clients they've assisted, and their expert areas, can give you a sense of their expertise and whether they're equipped to manage your financial situation.
- What are your qualifications and certifications?
Ask about any certifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require meeting strict educational, experience, and ethical standards, demonstrating a high level of professionalism 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 cautious approach with a focus on long-term growth or a more dynamic strategy, their philosophy should be in harmony with your goals and expectations.
- How do you prefer to communicate with clients?
Communication method and frequency are crucial to a successful 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 expects to keep you informed about your investments and financial 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. Knowing how an advisor is compensated will help you identify potential biases and guarantee that their advice is offered with your best interests in mind.
- Are you a fiduciary financial advisor?
Confirming that an advisor is a fiduciary is essential. This means they are legally required to put your interests before 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. 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 negatively impact their clients' financial plans. Fiduciary advisors must reveal conflicts of interest, and are required to manage them in their client's best interest.
Asking these questions will not only offer 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 Huntington Beach, CA?
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 insurance policies. This fee structure can create a potential conflict of interest, as the advisor might be incentivized to suggest 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 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 guidance and assistance 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 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 client-paid fees and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, such 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 Huntington Beach, CA
Correct Capital is distinguished in the Huntington Beach, 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 identical goals, we offer three different service models to our clients in Huntington Beach, CA:
One-Time Financial Plan (best for validators)
This service model is best for those who are looking for the guidance and recommendations a financial advisor can offer without the ongoing management. This service is excellent for individuals who largely feel good about managing their finances but seek 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 tackles 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 something related to their finances. This model offers monthly updates from our financial advisors, regular check-ins every quarter, and availability on an as-needed basis. While we won't manage your investments for you, we'll strive to look for opportunities to help you flourish financially.
Wealth Management (best for delegators)
Our wealth management service model is for clients who choose to hand over the management of their investments and financial planning to professionals. This includes active portfolio management, comprehensive financial strategizing, and proactive advice on a wide range of financial matters — from tax strategies and preparing for retirement to estate planning 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 financial goals.
Why Choose Correct Capital as Your Huntington Beach, CA Financial Advisor?
Correct Capital is a premier choice for individuals and families in Huntington Beach, CA looking for 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 is legally obligated to act in your best interests. This commitment ensures that every piece of advice, every investment recommendation, and every strategic decision 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. Being independent signifies we aren't tied to any specific financial institution or product, enabling us the freedom to choose the best investments and strategies for you.
- Our Qualifications: 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 anticipate trends and lead, rather than follow. Utilizing in-depth research and analytics, we prepare the most appropriate strategy for your needs.
- Ongoing Education and Resources: We offer at Correct Capital quarterly webinars and workshops to keep you informed and engaged with your financial health. Our dedication to client education guarantees that you are well-equipped to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Huntington Beach, CA means partnering 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 seeking to achieve their financial goals and secure their future.
Other services we offer in Huntington Beach, CA include:
Call Correct Capital's Huntington Beach, CA Financial Advisor Team Today
The decisions you make about your finances and the choices you make with it are deeply personal. At Correct Capital, we strongly believe in the relationship between an individual, household, or business owner in Huntington Beach, CA and their financial advisor is founded on mutual trust. Dedicating our lives to guiding our clients realize their financial and personal goals, be it funding higher education for your children or making the dream purchase of that dream car in retirement. Reach out to our Huntington Beach, CA financial advisor team today at 877-930-4015 or start a conversation with us online to begin growing your wealth in the manner you desire.
