Financial Advisor in Irving, TX

Financial Advisor in Irving, TX. Your hard-earned money deserves attention, and you want to be confident about how it's being managed and how it's being used. Many Irving 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 interest to stay informed on market trends along with new laws, rules, and different events happening around the world. That's when you need a reliable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Irving, TX will help your finances grow. We utilize in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Irving, TX 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 work with a financial advisor in Irving, TX? Take a look at our process page to find out how simple we make it to determine if we would make a good team.

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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

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A 2018 study by FINRA reported that 53 percent of American adults are anxious about their finances. The root of that concern is often just not being sure they're putting their money in the right places. Once our Irving, TX financial advisor team gets to know you, your finances and your financial ambitions, we'll implement a road map to help you achieve them. As a fiduciary and an independent firm, your Correct Capital financial advisor is required to act in your best interest and we are not limited in the options we can put forward. Our financial advisors in Irving, TX have certifications that can only be awarded through rigorous testing and by meeting stringent education requirements.

What Is a Financial Advisor?

A financial advisor is a specialist who assists individuals oversee their money, plan their finances, save, and plan for their financial future. This role encompasses a variety of services, from portfolio management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a comprehensive view of your financial situation to suggest strategies that match your goals, risk tolerance, and time horizon. While technically anyone can be called a financial advisor or financial planner, trustworthy and professional advisors will have accreditations from regulatory bodies such as FINRA and the CFP Board that denote their experience and education.

Types of Financial Advisors in Irving, TX

There are multiple types of advisors that differ based on the services they provide, how they're paid, their areas of expertise, and their legal obligations to clients:

• Investment Advisors or Portfolio Managers: These advisors provide advice on securities and manage investment portfolios. They're commonly associated with RIAs and are required to act in a fiduciary capacity, 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, depending on the amount of investments they manage.
• Broker-Dealers and Brokers: Broker-dealers buy and sell 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 instance, someone 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 with the CFP certification have undergone extensive training and adhere to high ethical standards, particularly a fiduciary duty to their clients. CFPs offer a vast spectrum of financial advisory services, such as debt management to planning for retirement, and tax optimization strategies. Their approach is comprehensive, intended to address every aspect of a client's financial life.
• Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have undergone education comparable with CFPs and also adhere to a fiduciary duty. They focus on offering comprehensive financial advice, covering everything from estate planning to tax advice, ensuring that customers' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Focus on improving clients' financial literacy, helping with fundamentals such as saving money and creating budgets. They are suited for clients who might not have the wealth to hire a financial advisor just yet. This type of guidance provides a strong basis for managing personal finances efficiently, particularly for those looking to take the first step towards financial wellbeing.
• Wealth Managers: Specialize in serving high-net-worth individuals, offering extensive services that include estate planning, tax assistance, and investment management. They work closely with their clients to navigate complex financial situations and formulate wealth preservation strategies. Their skill set is geared towards maximizing the financial health and future of those with substantial assets, making sure that all investments and planning strategies meet customized 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 represent the highest standards of fiduciary responsibility and personalized service, guaranteeing 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 analyze your present finances, determine methods to improve it, and help you accomplish your long-term financial goals. Many Irving, TX residents frequently immediately think of investing when they think of wealth management services and financial advisors. While that is a principal facet of any financial plan, a professional financial advisor will be able to give you holistic financial advice that takes into account the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Irving, TX will utilize in order to help you reach your objectives.

• Financial Planning

  Our money is a part of almost anything we do, from making sure we're set up in retirement, to paying for college, real estate transactions, choosing insurance policies, and putting food on the table each night. The best financial advisors in Irving, TX offer holistic services and personalized advice 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, more than 7 out of 10 of Americans pay more than necessary in taxes each year. The United States tax code is notoriously complex, yet it offers perfectly legal ways to lower your taxes. A skilled and ethical Irving, TX financial advisor will assist you in navigating your tax implications with the aim of keeping more money in your hands than in the government's.

• 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 other investments such as real estate. A financial advisor in Irving, TX will assist in allocating and diversify your assets in order to mitigate risk and optimally position your money for growth.

• Retirement Planning

  Depending on where you currently are in life and the kind of life you want to live when you hang up your cape, your Irving, TX financial advisor will help with tax implications, considering 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 where your income will come from in retirement so you can live out your golden years just how you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Irving, TX businesses and business owners. Setting up a 401(k) plan is a superb way to retain 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 Irving, TX financial advisor team offers comprehensive 401(k) planning for companies as well as individualized benefits for their employees.

• 401(k) Rollover

  When transitioning to a new job, it can be challenging to know the best way to handle the money you've accumulated in a previous Irving, TX employer's 401(k) plan. You have multiple options, such as keeping the money in the account it is currently in, transferring it to a new 401(k), or putting the money in one of a variety of IRA accounts. A financial advisor will be skilled in how to best approach managing your 401(k) funds.

• Generational Wealth Transfers

  You earn your money, and it's normal to want to leave a legacy and bequeath some wealth to the people you care about the dearly. Wealth transfers are separate from just leaving gifts behind in estate planning. A financial advisor in Irving, TX can optimize your money for both your children but for future generations to come, even ones you haven't met yet.

• Fiduciary Advising

  Anyone can call themselves a "financial advisor," so it's crucial to choose one who has obtained accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Irving, TX financial advisor at Correct Capital is bound by a "Code of Ethics and Standards of Conduct" to:

1. Act with honesty, integrity, competence, and diligence.
2. Act in the client's best interest.
3. Exercise due care.
4. Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
5. Maintain confidentiality and protect the privacy of client information.
6. 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 where possible, and prioritizing repayments. The goal is to create a workable path forward that aligns with your financial capabilities and goals, eventually leading to financial freedom.

• Budgeting

  Creating and sticking to a budget is fundamental to achieving financial health and goals. Financial advisors in Irving, TX can help clients comprehend how much money's coming in, identify areas for savings, and set realistic spending limits that facilitate growing your wealth. By providing resources and strategies for successful budgeting, advisors guarantee that clients can satisfy their current financial obligations while also planning for future goals.

When you hire a Irving, TX financial advisor at Correct Capital, we start by getting to know you personally and your objectives. We will evaluate your current income, assets, investments, debts, and expenses. After we've completed that, we'll work 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 priority is to act in your best interest. There is no restrictions 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.

Do I Need to Hire a Financial Advisor in Irving, TX?

Seeking the advice of a financial advisor can be a vital 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 suggest the need for expert 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 changing careers, these milestones can dramatically affect your financial landscape. A financial advisor can assist you navigate these changes, ensuring that your financial plan grows to meet your changing situation and goals.
• Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances By Yourself: Managing personal finances can be complicated, time-consuming, and, frankly, daunting for many. If you aren't confident to successfully handle your investments, or simply choose to focus your time elsewhere, a financial advisor can be essential. They bring expertise and objectivity to your financial decisions, helping to improve your portfolio, prevent costly mistakes, and set up your investments for long-term growth.
• Nearing Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can help you evaluate your current financial situation, calculate your retirement needs, and formulate a plan to ensure you can enjoy your retirement years with peace of mind. This includes strategies for Social Security benefits, pension management, and distribution strategies from retirement accounts.
• Complex Financial Products: The financial market offers a wide array of investment options, many of which come with their own challenges. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's insight can be vital. They can assist you comprehend the risks and benefits, ensuring that any investment matches 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 involves your hard-earned money. In addition to finding a reliable advisor, you need one who best meets your needs. It's important to inquire properly 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 collaborated with, and their expert areas, can give you a sense of their expertise and whether they're prepared to manage your financial needs.

• What are your qualifications and certifications?

  Ask about any certifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require fulfilling strict educational, experience, and ethical standards, signifying a high level of expertise and expertise.

• Can you describe your investment philosophy?

  An advisor's investment philosophy should complement your risk tolerance and financial goals. Whether they favor a conservative approach with a focus on long-term growth or a more aggressive strategy, their philosophy should resonate with your goals and expectations.

• How do you prefer to communicate with clients?

  Communication method and frequency are vital to a successful client-advisor relationship. Ask 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 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. Understanding how an advisor is compensated will enable you to discern potential biases and ensure that their advice is 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 ahead of their own, offering advice that best serves your financial goals and needs.

• What services do you offer beyond investment management?

  Many advisors provide comprehensive 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 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 deal with them to ensure they don't negatively impact their clients' financial plans. Fiduciary advisors must reveal conflicts of interest, and must 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 assist you in determining 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 Irving, TX?

In general, there are three common ways for financial advisors to be compensated:

1. Commission-Based: Commission-based advisors make their earnings through commissions on the products they sell, such as mutual funds. This fee structure can create a possible conflict, as the advisor could be motivated to suggest options that generate higher commissions rather than those that are most suited to your financial goals. 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.
2. 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 often seen as more transparent and aligned with the client's best interests, as it minimizes conflicts of interest related to product sales.
3. Fee-Based: Fee-based advisors use a combination of fees paid by the client and commissions from selling financial products. While this model offers a mix of the fee-only and commission-based structures, such advisors typically 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 Irving, TX

Correct Capital is distinguished in the Irving, TX financial advisory landscape for its bespoke 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 Irving, TX:

One-Time Financial Plan (best for validators)

This service model is ideal for those who are seeking the insights and advice a financial advisor can offer without the ongoing management. This service is excellent for individuals who largely feel good about managing their finances but seek professional validation to ensure they're doing things the right way. Our team conducts 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 caters to people who appreciate consistent guidance and advice as their financial situation evolves, or when they have specific questions about taxes, investments, or other aspects of their finances. This model offers monthly updates 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 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 considerations 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 realizing their long-term goals.

Why Choose Correct Capital as Your Irving, TX Financial Advisor?

Correct Capital is a leading choice for individuals and families in Irving, TX looking for reliable, expert financial guidance. Here's why choosing Correct Capital can make a significant 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 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: All the advice we offer is independent, objective, and unbiased. Being independent signifies we are not tied to any 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 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. Additionally, 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. Utilizing 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 fully prepared to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Irving, TX means partnering with a team committed 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 Irving, TX 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 Irving, TX Financial Advisor Team Today

The decisions you make about your finances and the decisions you make with it are inherently personal. At Correct Capital, we strongly believe that the relationship between a person, family, or business owner in Irving, TX and their financial advisor is founded on trust. Dedicating our lives to guiding our clients achieve their financial and personal goals, whether it's sending your children to college or finally achieving the dream of owning that dream car during your retirement years. Contact our Irving, TX 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.

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