Financial Advisor in Kansas City, MO

Financial Advisor in Kansas City, MO. Your hard-earned money deserves attention, and you want 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 sure they're making the right decisions with their money, while others are too busy or interest to stay informed on market trends along with new laws, rules, and different events happening around the world. That's when you should consider hiring a dependable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Kansas City, MO will make your money work for you. We employ in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Kansas City, MO and beyond. Reach out to 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, MO? Check out our process page to see how straightforward we make it to ascertain if we would make a good team.

A 2018 study by FINRA found that 53 percent of American adults are worried about their finances. The root of that anxiety is frequently just not being sure they're managing their money correctly. Once our Kansas City, MO financial advisor team gets to know you, your current financial situation and your financial objectives, we'll implement 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 solutions we can put forward. Our financial advisors in Kansas City, MO have certifications that can only be gained through rigorous testing and by meeting stringent education requirements.

What Is a Financial Advisor?

A financial advisor is a professional who provides advice on managing personal finances and investments. This broad definition covers a wide range of services, from portfolio management and retirement planning to tax planning and estate planning. 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, reliable and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that can only be obtained through rigorous education and exams.

Types of Financial Advisors in Kansas City, MO

Financial advisors can work and market themselves under different titles:

• Investment Advisors or Portfolio Managers: These professionals provide advice on securities and manage investment portfolios. They often work in RIAs and are required to serve as fiduciaries, meaning they always have the client's best interest at heart. 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 trade securities like stocks, bonds, and mutual funds on behalf of 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 depend on their specific licenses, such as Series 6 or Series 7. For instance, a broker 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): Professionals with the CFP designation have completed rigorous training and adhere to the highest ethical standards, including a fiduciary duty to their customers. CFPs provide a broad range of financial advisory services, including managing debt to planning for retirement, and estate planning. This approach is comprehensive, intended to address all aspects 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 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 tax advice, guaranteeing that customers' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Concentrate on boosting clients' financial literacy, assisting with basics such as saving money and budgeting. They are suited for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching offers a solid foundation for managing personal finances wisely, especially for those looking to take the first step towards financial wellbeing.
• Wealth Managers: Specialize in serving high-net-worth individuals, offering extensive services that encompass estate planning, tax help, and investment management. They work closely with their clients to manage complex financial situations and implement wealth preservation strategies. Their expertise is geared towards maximizing the financial health and legacy of those with substantial assets, ensuring that all investments and planning strategies meet customized 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 team of advisors includes CFPs and other qualified professionals who represent 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 present financial situation, determine methods to enhance it, and help you reach your long-term financial goals. A lot of Kansas City, MO residents frequently immediately think of investing when they think of wealth management services and financial advisors. While that is a central feature of any financial plan, an accomplished financial advisor will be able to provide you with overarching financial advice that considers the whole of your finances. The following are some of the services your Correct Capital financial advisor in Kansas City, MO will utilize to help you accomplish your objectives.

• Financial Planning

  Our money is integral to almost anything we do, from making sure we're set up in retirement, to education, real estate deals, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Kansas City, MO offer comprehensive services and personalized advice by taking into account your entire financial situation.

• Tax Planning

  Taxes are involved in nearly every financial transaction and transfer. According to the IRS's own data, more than 70 percent of Americans overpay in taxes each year. The United States tax code is notoriously complex, yet it allows for perfectly legal ways to lower your taxes. A reliable and expert Kansas City, MO financial advisor will guide you through your tax implications in the interest 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 Kansas City, MO will assist to allocate and diversify your assets to mitigate risk and strategically position your money for long-term growth.

• Retirement Planning

  Depending on where you stand in life and your desired lifestyle when you retire, your Kansas City, MO financial advisor will assist with tax implications, considering the optimal time to retire, when to withdraw money and how much to take out. A financial advisor will aid in creating a budget and strategy for where your income will come from in retirement so you can spend 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, MO businesses and business owners. Setting up a 401(k) plan is a superb way to retain your best employees and keep them productive and happy. Our retirement consultants manage over $218 million in plan assets and numerous of plan participants nationwide. Our Kansas City, MO financial advisor team offers extensive 401(k) planning for companies as well as customized benefits for their employees.

• 401(k) Rollover

  When transitioning 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 Kansas City, MO employer's 401(k) plan. You have multiple options, including leaving the money in the account it is in now, transferring it to a new 401(k), or investing the money in one of a selection of IRA accounts. A financial advisor will know how to best navigate managing your 401(k) funds.

• Generational Wealth Transfers

  You work hard for your money, and it's natural to wish to leave a legacy and bequeath some wealth behind the people you care about the dearly. Wealth transfers are separate from merely leaving gifts behind in estate planning. A financial advisor in Kansas City, MO can best position your money for both 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 necessary to pick one who has received accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Kansas City, MO 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 customized debt management plans that focus on managing debt, achieving lower interest rates if feasible, and prioritizing 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 Kansas City, MO can assist clients understand their cash flow, spot areas to spend less, and set realistic spending limits that promote growing your wealth. By providing resources and strategies for efficient budgeting, advisors ensure that clients can fulfill their current financial obligations while also saving for future goals.

When you hire a Kansas City, MO 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. Once we've completed that, we'll work in concert with you to ascertain your preferred risk tolerance and how we can best help you grow your money. As an independent advisory firm, our only job is to act in your best interest. There is no restrictions 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.

When Should I Consider Hiring a Financial Advisor in Kansas City, MO?

Seeking the assistance of a financial advisor can be a key step towards achieving financial well-being, peace of mind, and wealth. While the right time can differ greatly from person to person, certain life events and circumstances often signal the need for professional financial advice.

• Major Life Changes: Life is a series of changes, and many of them have substantial financial implications. Whether you're buying a home or facing retirement, these milestones can significantly affect your financial landscape. A financial advisor can assist you navigate these changes, ensuring that your financial plan grows to meet your evolving 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 don't have the knowledge to successfully handle your investments, or simply choose to spend your energy elsewhere, a financial advisor can be crucial. They bring experience and objectivity to your financial decisions, assisting to improve your portfolio, prevent costly mistakes, and set up your investments for future success.
• Getting Close to Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can help you assess your current financial situation, determine your retirement needs, and devise a plan to ensure you can experience your retirement years without worry. This includes strategies for Social Security benefits, pension management, and distribution strategies from retirement accounts.
• Complex Financial Products: The financial market offers a 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 essential. 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 crucial when you're hiring someone for any service, but especially so when it comes to your finances. In addition to finding a dependable advisor, you need one whose specialties align with 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 experience, including their years in the industry, the types of clients they've collaborated with, and their areas of expertise, can provide you a sense of their skills and whether they're prepared to handle your specific financial circumstances.

• What are your qualifications and certifications?

  Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require adhering to demanding educational, experience, and ethical standards, demonstrating a high level of professionalism 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 cautious approach with a focus on long-term growth or a more aggressive strategy, their philosophy should resonate with your expectations and expectations.

• How do you usually communicate with clients?

  Communication method and frequency are essential to a productive client-advisor relationship. Discuss how often you'll have meetings, whether they'll be in person or online, 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 combination thereof. Grasping how an advisor is compensated will help you identify potential conflicts of interest and ensure that their recommendations are offered with your best interests in mind.

• Are you a fiduciary financial advisor?

  Confirming that an advisor is a fiduciary is essential. This means they are bound by law to put your interests before their own, providing 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 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 disclose conflicts of interest, and are required to 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, MO?

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 insurance policies. This fee structure can create a potential conflict of interest, as the advisor might be incentivized to recommend 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.
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 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 reveal this to the client and cannot recommend those products unless they sincerely believe they are in the client's best interests.

Correct Capital's Financial Advisory Services in Kansas City, MO

Correct Capital stands out in the Kansas City, MO financial advisory landscape for its bespoke approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or identical goals, we offer a variety of service models to our clients in Kansas City, MO:

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 ongoing management. This service is excellent for individuals who are generally confident in managing their finances but desire professional insight to confirm they're on the right track. Our team conducts a thorough review of your current financial situation, supplying you with a detailed plan that addresses your specific goals, concerns, and growth opportunities.

Subscription (best for collaborators)

Our subscription service is designed for people who value ongoing 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, regular check-ins every quarter, and availability on an as-needed basis. While we will not manage your investments for you, we'll work 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 prefer to delegate the management of their investments and financial planning to professionals. This includes active investment management, strategic financial planning, and forward-looking guidance on a wide range of financial matters — from tax strategies and preparing for retirement to estate planning and beyond. Our wealth management clients enjoy peace of mind, knowing that every aspect of their financial well-being is being carefully managed by a dedicated team of professionals committed to maximizing their wealth and achieving their long-term goals.

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

Correct Capital is a leading choice for individuals and families in Kansas City, MO looking for reliable, expert 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 act in your best interests. This commitment ensures that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is carried out with your best interests in mind.
• Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Our independence signifies we are not tied to any specific financial institution or product, allowing 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 two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Additionally, our retirement consultants and financial portfolio managers boast over 100 years of combined experience.
• Proactivity is Our Approach: Our advisors believe that the most valuable way to create long-term financial security is to anticipate trends and lead, rather than follow. Utilizing in-depth research and analytics, we prepare the most appropriate strategy for your needs.
• 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 guarantees that you are fully prepared to make informed decisions together with your advisor.

Choosing Correct Capital as your financial advisor in Kansas City, MO 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 ideal partner for individuals and families looking to achieve their financial goals and safeguard their future.

Other services we offer in Kansas City, MO include:

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

Call Correct Capital's Kansas City, MO Financial Advisor Team Today

The decisions you make about your finances and the choices you make with it are deeply personal. At Correct Capital, we firmly believe that the relationship between a person, household, or entrepreneur in Kansas City, MO and their financial advisor is based on trust. Committed 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 Kansas City, MO financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards building your wealth in the manner you desire.

---