Financial Advisor in Jacksonville, FL

Financial Advisor in Jacksonville, FL. You work hard for your money, and you need to feel secure about how it's expanding and how it's being used. Numerous Jacksonville residents do not have the financial literacy to feel confident they're making the right decisions with their money, while others simply don't have the time or interest to stay informed on market trends along with new laws, regulations, and global events. That's when you need a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Jacksonville, FL will help your finances grow. We use in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Jacksonville, FL 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 Jacksonville, FL? Explore our process page to find out how straightforward we make it to find out if you're a good fit.

A 2018 study by FINRA revealed that 53 percent of American adults are worried about their finances. The cause of that concern is often simply not being sure they're making the right decisions with their money. Once our Jacksonville, FL financial advisor team gets to know you, your present financial situation and your financial objectives, we'll design a road map to help you reach them. As a fiduciary and an independent firm, your Correct Capital financial advisor is obligated to act in your best interest and we are not limited in the options we can put forward. Our financial advisors in Jacksonville, FL have certifications that can only be awarded through exhaustive testing and by meeting strict 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 prepare for their financial future. This broad definition covers a variety 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 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 organizations such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.

Types of Financial Advisors in Jacksonville, FL

Financial advisors can work and market themselves under different titles:

• Investment Advisors or Portfolio Managers: These professionals provide advice on securities and oversee investment portfolios. They're often associated with RIAs and are required to act in a fiduciary capacity, prioritizing their clients' interests above their own. Portfolio managers are registered with either the Securities and Exchange Commission (SEC) or state regulators, depending on the size of the assets they manage.
• Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds for their clients or for their own accounts. 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 instance, someone 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 certification have completed rigorous training and uphold high ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs provide a broad range of financial advisory services, such as debt management to retirement planning, and estate planning. This approach is comprehensive, intended to satisfy every facet of a client's financial life.
• Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have undergone training comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and are also required to hold their clients' interests above their own. They specialize in providing holistic financial advice, covering everything from investment management to retirement strategies, ensuring that customers' financial goals are met with the highest ethical standards.
• Financial Coaches: Are dedicated to boosting clients' financial literacy, assisting with basics such as saving money and creating budgets. They are suited for clients who don't have the wealth to hire a financial advisor just yet. This type of guidance provides a good starting point for managing personal finances wisely, especially for those in the early stages of financial planning.
• Wealth Managers: Cater to high-net-worth individuals, offering a broad array of services that include estate planning, tax help, and investment management. They work closely with their clients to handle complex financial situations and develop wealth preservation strategies. Their skill set is tailored for enhancing the financial health and legacy of those with substantial assets, guaranteeing that every financial decision is aligned with customized advice and solutions.

Each type of financial advisor brings unique expertise and services to the table. At Correct Capital, our group of advisors includes CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act only in the best interest of our clients in all of our advice and dealings.

What Does a Financial Advisor Do?

A financial advisor will evaluate your current financial situation, ascertain means to enhance it, and help you achieve your long-term financial goals. A lot of Jacksonville, FL residents commonly immediately think of investing when they consider wealth management services and financial advisors. While that is a core component of any financial plan, a professional financial advisor will be able to offer you comprehensive financial advice that considers the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Jacksonville, FL will implement in order to help you achieve your goals.

• Financial Planning

  Our finances are a part of almost anything we do, from making sure we're set up in retirement, to education, buying and/or selling a house, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Jacksonville, FL offer holistic services and bespoke consulting 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 7 out of 10 of Americans overpay in taxes every year. The United States tax code is incredibly complicated, yet it provides perfectly legal means to minimize taxes owed. A professional and trustworthy Jacksonville, FL financial advisor will guide you through 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 assembly 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 Jacksonville, FL will help to allocate and diversify your assets 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 Jacksonville, FL financial advisor will assist with tax implications, considering the best age to retire, when to withdraw money and how much to withdraw. A financial advisor will help you formulate a budget and strategy for source of income in retirement so you can spend your golden years just how you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Jacksonville, FL businesses and business owners. Setting up a 401(k) plan is a superb way to maintain 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 Jacksonville, FL financial advisor team offers extensive 401(k) planning for companies as well as personalized benefits for their employees.

• 401(k) Rollover

  When starting a new job, it can be challenging to know the best way to deal with the money you've accumulated in a previous Jacksonville, FL employer's 401(k) plan. You have multiple options, including keeping the money in the account it is in now, transferring it to a new 401(k), or putting the money in one of a range of IRA accounts. A financial advisor will have the knowledge how to best approach managing your 401(k) funds.

• Generational Wealth Transfers

  You work hard for your money, and it's common to desire to leave a legacy and pass on some wealth to the people you care about the most. Wealth transfers are distinct from merely leaving gifts behind in estate planning. A financial advisor in Jacksonville, FL can best position 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 important to pick one who has earned accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Jacksonville, FL financial advisor at Correct Capital must heed 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 managing 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, eventually leading to financial freedom.

• Budgeting

  Creating and staying compliant with a budget is fundamental to having the financial health and life you want. Financial advisors in Jacksonville, FL can assist clients understand how much money's coming in, find areas to spend less, and set realistic spending limits that promote wealth accumulation. By providing resources and strategies for effective budgeting, advisors ensure that clients can satisfy their current financial obligations while also planning for future goals.

When you hire a Jacksonville, FL financial advisor at Correct Capital, we begin by getting to know you and your aims. We will analyze your current income, assets, investments, debts, and expenses. Once we've completed that, we'll work in tandem with you to establish your preferred risk tolerance and how we can best help you grow your wealth. As an independent advisory firm, our only obligation is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can suggest, and we will never try to sell you on something we do not believe in ourselves.

When Should I Consider Hiring a Financial Advisor in Jacksonville, FL?

Seeking the advice of a financial advisor can be a critical step towards achieving financial well-being, peace of mind, and wealth. While the ideal moment can differ greatly from person to person, certain life events and circumstances often suggest the need for professional financial advice.

• Major Life Transitions: Life is a series of changes, and many of them have major 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 help you navigate these changes, ensuring that your financial plan evolves to meet your new circumstances and goals.
• Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances Alone: Managing personal finances can be complex, demanding, and, frankly, overwhelming for many. If you don't have the knowledge to effectively manage your investments, or simply prefer to focus your energy on other pursuits, a financial advisor can be crucial. They bring insight and wisdom 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 most common reasons individuals seek out financial advice. An advisor can aid you evaluate your current financial situation, calculate your retirement needs, and devise a plan to ensure you can experience your retirement years comfortably. 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 set of complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's knowledge 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 crucial when you're hiring someone for any service, but especially so when it involves your hard-earned money. In addition to finding a reliable advisor, you need one who perfectly matches 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 track record, including their years in the industry, the kinds of clients they've assisted, and their specializations, can provide you a sense of their expertise and whether they're equipped to manage your specific financial circumstances.

• What are your qualifications and certifications?

  Ask about any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require adhering to rigorous educational, experience, and ethical standards, signifying a high level of competence and expertise.

• What is 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 be in harmony with your aspirations and expectations.

• How do you prefer to communicate with clients?

  Communication style and regularity are vital 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 updated about your investments and financial plan.

• How are you compensated for your services?

  Advisors can be fee-only, commission-based, or a combination thereof. Grasping how an advisor is compensated will help you identify potential conflicts of interest and make certain that their advice is made with your best interests in mind.

• Are you a fiduciary financial advisor?

  Confirming that an advisor serves as a fiduciary is essential. This means they are legally required to put your interests before their own, giving advice that optimally benefits your financial goals and needs.

• What services do you offer beyond investment management?

  Many advisors provide holistic financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of educational resources and portfolio reviews. Knowing 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 transparently share 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 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 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 Jacksonville, FL?

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

1. Commission-Based: Commission-based advisors earn their income through commissions on the products they sell, such as other financial products. This fee structure can lead to a possible conflict, as the advisor might be incentivized to suggest products 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 aid in achieving 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 guidance and assistance they provide and do not receive any commissions from product sales. This compensation can take several forms, 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 minimizes conflicts of interest related to product sales.
3. 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 blend of the fee-only and commission-based structures, such advisors typically also have a fiduciary duty, which means that even if 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 Jacksonville, FL

Correct Capital stands out in the Jacksonville, FL financial advisory landscape for its bespoke 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 Jacksonville, FL:

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 continuous oversight. This service is excellent 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, supplying you with a detailed plan that tackles 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 open availability if the need ever arises. While we will not manage your investments for you, we'll strive 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 delegate 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 planning and retirement planning to estate considerations and beyond. Our wealth management clients enjoy peace of mind, 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 financial goals.

Why Choose Correct Capital as Your Jacksonville, FL Financial Advisor?

Correct Capital is a leading choice for individuals and families in Jacksonville, FL 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, Correct Capital is 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 carried out with your best interests at heart.
• Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Our independence signifies we aren't tied to any financial institution or product, enabling us the freedom to select 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 two 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.
• Proactivity is Our Approach: 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, we prepare the most appropriate strategy for your needs.
• Ongoing Education and Resources: Correct Capital offers quarterly webinars and workshops aimed at keeping you up-to-date and engaged with your financial health. Our dedication to client education guarantees that you are well-equipped to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Jacksonville, FL means joining forces with a team committed 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 looking to achieve their financial goals and safeguard their future.

Other services we offer in Jacksonville, FL include:

• High-Net-Worth Wealth Management
• Retirement Planner
• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor

Call Correct Capital's Jacksonville, FL Financial Advisor Team Today

Your money and the choices you make with it are deeply personal. At Correct Capital, we strongly believe in the relationship between a person, family, or business owner in Jacksonville, FL and their financial advisor is founded on trust. Committed to helping our clients realize 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. Reach out to our Jacksonville, FL financial advisor team today at 877-930-4015 or start a conversation with us online to take the first step towards growing your wealth in the manner you desire.

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