Financial Advisor in Irvine, CA. You work hard for your money, and you want to be assured about how it's growing and how it's being used. A lot of Irvine residents do not have the financial literacy to feel like they can handle their investments and finances by themselves, while others are too busy or inclination to stay up to date on market trends along with new laws, regulations, and global events. That's when you need a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Irvine, CA will help your finances grow. We employ in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Irvine, 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.
Uncertain if you're ready to work with a financial advisor in Irvine, CA? Take a look at our process page to see how straightforward we make it to find out if we would make a good team.
Schedule a Meeting With an Advisor Today
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.
Schedule a 15-Minute Introductory Call
More From Correct Capital Wealth Management
Explore how Correct Capital Wealth Management can help guide you toward smarter decisions, clearer goals, and lasting financial success.
Subscribe To Our Newsletter Listen To Our Podcast Watch Our YouTube Channel
A 2018 study by FINRA revealed that 53 percent of American adults are nervous about their finances. A source of that anxiety is often simply not being sure they're managing their money correctly. Once our Irvine, CA financial advisor team gets to know you, your finances and your financial aims, we'll implement 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 endorse. Our financial advisors in Irvine, CA have certifications that can only be acquired through exhaustive testing and by meeting stringent 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 wide range of services, from investment management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a thorough view of your financial situation to suggest strategies that suit your goals, risk tolerance, and time horizon. While technically anyone can be called a financial advisor or financial planner, credible and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that signify their experience and education.
Types of Financial Advisors in Irvine, CA
Financial advisors can operate under different titles:
- Investment Advisors or Portfolio Managers: These advisors provide advice on securities and oversee investment portfolios. They're commonly associated with RIAs and are required to act in a fiduciary capacity, 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 assets under management.
- Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds for their clients or for their own accounts. They must register with the SEC and are usually members of FINRA. The financial products they can sell depend on their specific licenses, such as Series 6 or Series 7. For example, an advisor who has a Series 7 license represents general securities, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP designation have completed rigorous education and uphold high ethical standards, particularly a fiduciary duty to their customers. CFPs provide a broad range of financial planning services, ranging from debt management to planning for retirement, and estate planning. Their methodology is all-encompassing, aiming to address all aspects of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have undergone education similar to CFPs and are also required to hold their clients' interests above their own. They focus on offering comprehensive financial advice, encompassing everything from investment management to retirement strategies, guaranteeing that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Are dedicated to improving clients' financial literacy, guiding with fundamentals such as saving money and budgeting. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching delivers a solid foundation for handling personal finances efficiently, especially for those looking to take the first step towards financial wellbeing.
- Wealth Managers: Cater to high-net-worth individuals, offering comprehensive services that include estate planning, tax assistance, and investment management. They partner closely with their clients to manage complex financial situations and implement wealth preservation strategies. Their expertise is focused on optimizing the financial health and future of wealthy individuals, making sure that their clients' goals and aspirations are met through personalized 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, making sure 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 extant financial situation, pinpoint ways to enhance it, and help you accomplish your future financial goals. A lot of Irvine, CA residents often immediately think of investing when they consider wealth management services and financial advisors. While that is a key component of any financial plan, an experienced financial advisor will be able to give you comprehensive financial advice that takes into consideration the whole of your finances. Below are some of the services your Correct Capital financial advisor in Irvine, 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 set up in retirement, to education, real estate transactions, picking insurance policies, and putting food on the table each night. The best financial advisors in Irvine, CA offer comprehensive services and bespoke 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, over 70 percent of Americans overpay in taxes every year. The United States tax code is notoriously complex, yet it provides perfectly legal ways to lower your taxes. A skilled and ethical Irvine, CA financial advisor will help you navigate your tax implications with the aim of keeping more money in your pocket.
- 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 other investments such as art. A financial advisor in Irvine, CA will assist to allocate and diversify your assets in order to mitigate risk and optimally position your money for growth.
- Retirement Planning
Depending on where you stand in life and the kind of life you want to live when you retire, your Irvine, CA financial advisor will assist with tax planning, evaluating the optimal time to retire, when to make withdrawals and how much to take out. A financial advisor will help you formulate a budget and strategy for where your income will come from in retirement so you can enjoy your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Irvine, CA businesses and business owners. Implementing a 401(k) plan is a fantastic way to maintain your best employees and keep them productive and happy. Our retirement consultants manage over $218 million in plan assets and hundreds of plan participants nationwide. Our Irvine, CA financial advisor team offers comprehensive 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 Irvine, CA employer's 401(k) plan. You have several 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 selection of IRA accounts. A financial advisor will have the knowledge how to best manage managing your 401(k) funds.
- Generational Wealth Transfers
You work hard for your money, and it's normal to wish to leave a legacy and bequeath some wealth behind the people you care about the dearly. Wealth transfers are different from simply leaving gifts behind in estate planning. A financial advisor in Irvine, CA can optimize your money for both your children but for generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's essential to choose 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 Irvine, 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 managing debt, securing lower interest rates if feasible, and structuring repayments. The goal is to create a workable path forward that suits your financial situation and goals, eventually leading to stability.
- Budgeting
Creating and sticking to a budget is crucial to achieving financial health and goals. Financial advisors in Irvine, CA can assist clients comprehend their cash flow, spot areas for savings, and set realistic spending limits that encourage wealth accumulation. By providing tools and strategies for efficient budgeting, advisors make sure that clients can fulfill their current financial obligations while also planning for future goals.
When you hire a Irvine, CA financial advisor at Correct Capital, we start by getting to know you and your objectives. We will evaluate your current income, assets, investments, debts, and expenses. After we've done that, we'll work in concert with you to establish your preferred risk tolerance and how we can best help you accomplish your goals. As an independent advisory firm, our only responsibility is to act in your best interest. There is no restrictions 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.
Do I Need to Hire a Financial Advisor in Irvine, CA?
Seeking the advice of a financial advisor can be a key step towards getting the life and financial health you want. While the right time can vary widely from person to person, certain life events and circumstances often signal the need for expert financial advice.
- Major Life Changes: Life is a series of transitions, and many of them have significant financial implications. Whether you're buying a home or facing retirement, these milestones can profoundly affect how your money should be used and invested. A financial advisor can assist you navigate these changes, ensuring that your financial plan grows to meet your new situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complex, time-consuming, and, frankly, overwhelming for many. If you don't have the knowledge 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 optimize your portfolio, prevent costly mistakes, and set up your investments for future success.
- Getting Close to Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can help you assess your current financial situation, determine your retirement needs, and devise a plan to ensure you can enjoy your retirement years without worry. This includes strategies for Social Security benefits, pension management, and withdrawal plans from retirement accounts.
- Complex Financial Products: The financial market offers a 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 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 paramount when you're hiring someone for any service, but especially so when it comes to your finances. Beyond just finding a dependable 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 track record, including their years in the industry, the types of clients they've worked with, and their specializations, can offer you a sense of their expertise and whether they're equipped to handle your specific financial circumstances.
- What are your qualifications and certifications?
Inquire about any certifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require adhering to rigorous education, experience, and ethical standards, signifying a high level of expertise 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 goals and expectations.
- How do you usually communicate with clients?
Communication style and regularity are essential 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 plans to keep you updated 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. Grasping how an advisor is compensated will help you identify potential conflicts of interest and make certain that their advice is offered with your best interests in mind.
- Are you a fiduciary financial advisor?
Confirming that an advisor serves as a fiduciary is vital. This means they are legally required to put your interests before their own, giving advice that is in the best interest of your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide extensive financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of 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 openly discuss potential conflicts of interest and how they address them to ensure they don't adversely affect 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 Irvine, CA?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions earn their income through commissions on the financial products they offer, such as mutual funds. This fee structure can create a potential conflict of interest, as the advisor might be incentivized 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 recommend products that can help you achieve your goals, but not necessarily the ones best suited 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 various shapes, 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 minimizes conflicts of interest related to product sales.
- Fee-Based: Advisors with a fee-based approach 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 Irvine, CA
Correct Capital is distinguished in the Irvine, CA financial advisory landscape for its customized approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or the same goals, we offer a variety of service models to our clients in Irvine, 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 are generally confident in managing their finances but seek professional insight to confirm they're doing things the right 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 growth opportunities.
Subscription (best for collaborators)
Our subscription service is designed for individuals who value consistent guidance and advice as their financial situation evolves, or when they have specific questions about something related to their finances. This model offers monthly updates from our financial advisors, quarterly meetings, and open availability if the need ever arises. While we will not be managing your portfolio, we'll strive 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 hand over the management of their investments and financial planning to professionals. This includes active portfolio management, strategic financial planning, and forward-looking guidance on a wide range of financial matters — from tax strategies and retirement planning 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 realizing their long-term goals.
Why Choose Correct Capital as Your Irvine, CA Financial Advisor?
Correct Capital is a leading choice for individuals and families in Irvine, CA looking for reliable, expert financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:
- We are Fiduciary Advisors: As fiduciaries, we are 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 carried out with your best interests in mind.
- Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent means we aren't tied to any specific financial institution or product, allowing us the freedom to choose the best investments and strategies for you.
- Our Qualifications: We are a Registered Investment Advisor (RIA), which allows us 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.
- We Are Proactive: We hold the belief 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, we prepare 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 together with your advisor.
Choosing Correct Capital as your financial advisor in Irvine, 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 perfect choice for individuals and families looking to achieve their financial goals and safeguard their future.
Other services we offer in Irvine, CA include:
- Investment Management
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
Call Correct Capital's Irvine, 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 strongly believe in the relationship between a person, household, or entrepreneur in Irvine, CA and their financial advisor is based on mutual trust. Dedicating our lives to guiding our clients achieve their financial and personal goals, be it sending your children to college or making the dream purchase of that dream car in retirement. Contact our Irvine, CA financial advisor team today at 877-930-4015 or start a conversation with us online to begin growing your wealth how you've always wanted.
