Financial Advisor in Kansas City, KS

Financial Advisor in Kansas City, KS. You work hard for your money, and you need to be assured about how it's being managed and how it's being used. A lot of Kansas City residents do not have the financial literacy to feel like they can handle their investments and finances by themselves, while others simply don't have the time or inclination to stay up to date on financial markets along with new laws, regulations, and global events. That's when you need a dependable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Kansas City, KS will make your money work for you. We employ in-depth research along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Kansas City, KS and beyond. Call us today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.

Not sure if you're ready to hire a financial advisor in Kansas City, KS? Take a look at our process page to discover how straightforward we make it to determine if we would make a good team.

A 2018 study by FINRA revealed that 53 percent of American adults are worried about their finances. A source of that concern is commonly just not being sure they're putting their money in the right places. Once our Kansas City, KS financial advisor team gets to know you, your finances and your financial aims, we'll design a road map to help you reach them. As a fiduciary and an independent firm, every 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 Kansas City, KS have certifications that can only be gained through rigorous testing and by meeting strict education requirements.

What Is a Financial Advisor?

A financial advisor is a professional who provides advice on managing personal finances and investments. This role encompasses a variety of services, from portfolio management and retirement planning to tax planning and generational wealth transfers. The primary goal of a financial advisor is to help individuals and organizations reach their financial objectives by creating strategies that align with their risk tolerance, financial situation, and long-term goals. While technically anyone can call themselves a financial advisor or financial planner, reliable 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 Kansas City, KS

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

• Investment Advisors or Portfolio Managers: These advisors provide advice on securities and oversee investment portfolios. They're often associated with RIAs and are required to act in a fiduciary capacity, meaning they always have the client's best interest at heart. Investment advisors are registered 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 example, someone who holds a Series 7 license is qualified to sell general securities, such as mutual funds and exchange-traded funds (ETFs).
• CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals with the CFP certification have undergone extensive education and uphold high ethical standards, particularly a fiduciary duty to their customers. CFPs provide a wide array of financial advisory services, including managing debt to planning for retirement, and estate planning. Their methodology is holistic, aiming to address every facet 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. Like CFPs, ChFCs focus on offering holistic financial advice, covering areas such as investment management to retirement strategies, guaranteeing that customers' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Concentrate on enhancing clients' financial literacy, assisting 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 good starting point for handling personal finances wisely, especially for those just starting out.
• Wealth Managers: Serve high-net-worth individuals, offering comprehensive services that encompass estate planning, tax help, and investment management. They work closely with their clients to handle complex financial situations and formulate wealth preservation strategies. Their skill set is tailored for enhancing the financial health and legacy of affluent clients, making sure that their clients' goals and aspirations are met through personalized advice and approaches.

Each type of financial advisor offers unique expertise and services to the table. At Correct Capital, our team of advisors features CFPs and other qualified professionals who represent 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 present financial situation, identify means to improve it, and help you reach your long-term financial goals. A lot of Kansas City, KS residents frequently immediately think of investing when they hear wealth management services and financial advisors. While that is a central component of any financial plan, a certified financial advisor will be able to provide you with holistic financial advice that considers the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Kansas City, KS will utilize in order to help you meet your goals.

• Financial Planning

  Our money is involved in almost everything we do, from making sure we're set up in retirement, to education, real estate deals, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Kansas City, KS offer comprehensive services and personalized advice by taking into account your entire financial situation.

• Tax Planning

  Tax considerations play a role in almost every financial transaction and transfer. According to the IRS's own data, over 7 out of 10 of Americans pay more than necessary in taxes every year. The United States tax code is incredibly complicated, yet it offers perfectly legal ways to lower your taxes. A reliable and expert Kansas City, KS financial advisor will assist you in navigating your tax implications to ensure keeping more money in your own account.

• Portfolio Management and Asset Management

  Your financial portfolio is the aggregation of your financial assets. They can include equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as real estate. A financial advisor in Kansas City, KS will help in allocating and diversify your assets to mitigate risk and strategically position your money for long-term growth.

• Retirement Planning

  Depending on where you currently are in life and your desired lifestyle when you hang up your cape, your Kansas City, KS financial advisor will assist with tax planning, considering the optimal time to retire, when to withdraw money and how much to withdraw. A financial advisor will assist in formulating 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 Kansas City, KS businesses and business owners. Introducing a 401(k) plan is a superb way to retain your best employees and keep them productive and happy. Our retirement consultants oversee over $218 million in plan assets and hundreds of plan participants nationwide. Our Kansas City, KS financial advisor team offers thorough 401(k) planning for companies as well as individualized benefits for their employees.

• 401(k) Rollover

  When starting a new job, it can be tough to know the best way to deal with the money you've accumulated in a previous Kansas City, KS employer's 401(k) plan. You have a number of options, including leaving the money in the account it is in now, 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 navigate handling your 401(k) funds.

• Generational Wealth Transfers

  You strive for your money, and it's normal to wish to leave a legacy and leave some wealth behind the people you care about the most. Wealth transfers are different from simply leaving gifts behind in estate planning. A financial advisor in Kansas City, KS 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 pick one who has received accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Kansas City, KS 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 tailored debt management plans that focus on managing debt, achieving lower interest rates if feasible, and prioritizing repayments. The goal is to create a manageable path forward that matches your financial capabilities and goals, ultimately leading to stability.

• Budgeting

  Creating and staying compliant with a budget is essential to achieving financial health and goals. Financial advisors in Kansas City, KS can assist clients understand how much money's coming in, find areas to spend less, and set realistic spending limits that encourage wealth accumulation. By providing resources and strategies for effective budgeting, advisors guarantee that clients can meet their current financial obligations while also preparing for future goals.

When you hire a Kansas City, KS financial advisor at Correct Capital, we start by getting to know you and your goals. We will assess your current income, assets, investments, debts, and expenses. Then we've completed that, we'll work with you to establish your preferred risk tolerance and how we can best help you meet your goals. As an independent advisory firm, our only obligation is to act in your best interest. There is no limitation to the services, products, and investment opportunities our financial advisor team can recommend, 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 Kansas City, KS?

Seeking the assistance of a financial advisor can be a key step towards achieving financial health, peace of mind, and wealth. While the optimal timing can vary widely from person to person, certain life events and circumstances often indicate the need for professional financial advice.

• Major Life Changes: Life is a long line of transitions, and many of them have major financial implications. Whether you're buying a home or changing careers, these milestones can dramatically affect your financial landscape. A financial advisor can help you navigate these changes, ensuring that your financial plan grows to meet your changing circumstances and goals.
• Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: Managing personal finances can be complicated, time-consuming, and, frankly, overwhelming for many. If you lack the experience to effectively handle your investments, or simply choose to focus your time on other pursuits, a financial advisor can be invaluable. They bring insight and wisdom to your financial decisions, aiding to improve your portfolio, avoid costly mistakes, and set up your investments for long-term growth.
• Nearing Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can aid you review your current financial situation, calculate your retirement needs, and craft a plan to ensure you can live comfortably during 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 myriad 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 help 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 paramount when you're hiring someone for any service, but particularly so when it involves your hard-earned money. In addition to finding a dependable advisor, you need one who ideally suits 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 background, including their years in the industry, the types of clients they've collaborated with, and their expert areas, can provide you a sense of their expertise and whether they're prepared to tackle 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 meeting strict educational, experience, and ethical standards, signifying a high level of professionalism 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 resonate with your aspirations and expectations.

• How do you usually communicate with clients?

  Communication style and frequency are vital to a successful client-advisor relationship. Discuss how often you'll have meetings, whether they'll be in person or online, and how the advisor expects to keep you updated about how your investments are going and if you need any updates to your 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. Understanding how an advisor is compensated will enable you to discern potential conflicts of interest and ensure 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 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 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 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 must manage them in their client's best interest.

Asking these questions will not only provide you with essential information about the financial advisor's qualifications and approach but also enable you to assess whether there is a good personal fit. Remember, a strong relationship with your financial advisor is built on transparency, trust, and mutual understanding.

You can find many of these questions answered on our FAQ page.

How Much Does a Financial Advisor Cost in Kansas City, KS?

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

1. 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 lead to a potential conflict of interest, as the advisor could be motivated to recommend options that generate higher commissions instead of those that are most suited to your financial goals. 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 most appropriate to your needs.
2. Fee-Only: Advisors on a fee-only basis are compensated directly by their clients for the guidance and assistance they provide and do not receive any commissions from product sales. This compensation can take various shapes, including hourly rates assets under management (AUM). This model is frequently regarded as more clear and in line 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 client-paid fees and commissions from selling financial products. While this model offers a mix 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 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 Kansas City, KS

Correct Capital stands out in the Kansas City, KS 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 Kansas City, KS:

One-Time Financial Plan (best for validators)

This service model is ideal for those who are looking for the guidance and recommendations a financial advisor can offer without the continuous oversight. This service is excellent for individuals who are generally confident in managing their finances but seek professional validation to confirm they're doing things the right way. Our team conducts a thorough review of your current financial situation, supplying you with a detailed plan that tackles your specific goals, concerns, and growth opportunities.

Subscription (best for collaborators)

Our subscription service is designed for 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 insights from our financial advisors, quarterly meetings, and availability on an as-needed basis. While we won't manage your investments for you, we'll 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 investment management, comprehensive financial strategizing, 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 carefully managed by a dedicated team of professionals dedicated to maximizing their wealth and achieving their financial goals.

Why Choose Correct Capital as Your Kansas City, KS Financial Advisor?

Correct Capital is a leading choice for individuals and families in Kansas City, KS seeking 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, Correct Capital are legally obligated to act in your best interests. This commitment guarantees 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: Every piece of guidance we offer is independent, objective, and unbiased. Being independent means we are not tied to any 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 gives us the ability 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. 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 anticipate trends and lead, rather than follow. Utilizing the latest data and software to analyze trends, our aim is to craft 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 Kansas City, KS means partnering with a team committed to your financial success. Our experience, fiduciary commitment, and personalized approach to financial planning and investment management make us the perfect choice for individuals and families seeking to achieve their financial goals and secure their future.

Other services we offer in Kansas City, KS include:

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

Call Correct Capital's Kansas City, KS 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 that the relationship between an individual, household, or business owner in Kansas City, KS and their financial advisor is founded on mutual trust. Committed to guiding our clients realize their personal and financial goals, whether it's sending your children to college or making the dream purchase of that dream car during your retirement years. Reach out to our Kansas City, KS financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards growing your wealth in the manner you desire.

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