Financial Advisor in Lincoln, NE. You work hard for your money, and you want to feel confident about how it's being managed and how it's being used. A lot of Lincoln residents do not have the financial literacy to feel like they can handle their investments and finances by themselves, while others are too busy or interest to stay informed 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 Lincoln, NE will make your money work for you. We employ in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Lincoln, NE and beyond. Call us today at 877-930-4015 or contact us online to see if Correct Capital is a good fit for you.
Uncertain if you're ready to hire a financial advisor in Lincoln, NE? Take a look at our process page to discover how easy 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. The root of that concern is commonly just not being sure they're putting their money in the right places. After our Lincoln, NE financial advisor team gets to know you, your extant financial situation and your financial aims, we'll design a road map to help you accomplish them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically compelled to act in your best interest and we are not limited in the solutions we can put forward. Our financial advisors in Lincoln, NE have certifications that can only be acquired through exhaustive testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who helps individuals oversee their money, plan their finances, put enough money away, and prepare for their financial future. This role encompasses a wide range of services, from portfolio management and retirement planning to tax planning and estate planning. 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, trustworthy and professional advisors will have qualifications from regulatory bodies such as FINRA and the CFP Board that can only be obtained through rigorous education and exams.
Types of Financial Advisors in Lincoln, NE
There are several types of advisors that differ based on the services they offer, 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 often work in RIAs and are required to act in a fiduciary capacity, 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 size of the assets they manage.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds on behalf of their clients or for themselves. 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 example, a broker who holds a Series 7 license represents general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP certification have completed rigorous education and adhere to high ethical standards, particularly a fiduciary duty to their clients. CFPs provide a wide array of financial advisory services, including managing debt to planning for retirement, and estate planning. This approach is holistic, designed to meet every aspect of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed education similar to CERTIFIED FINANCIAL PLANNER™ Professionals and are also required to hold their clients' interests above their own. They focus on providing comprehensive financial advice, covering everything from investment management to retirement strategies, ensuring that clients' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Focus on boosting clients' financial literacy, assisting with basics such as saving money and creating budgets. They are suited for clients who don't have the financial resources to hire a financial advisor yet. This type of guidance delivers a solid foundation for handling personal finances effectively, particularly for those just starting out.
- Wealth Managers: Serve high-net-worth individuals, offering a broad array of services that encompass estate planning, tax help, and investment management. They partner closely with their clients to handle complex financial situations and develop wealth preservation strategies. This expertise is geared towards optimizing the financial health and legacy of affluent clients, ensuring that every financial decision is aligned with tailored advice and solutions.
Each type of financial advisor brings unique expertise and services to the table. At Correct Capital, our group of advisors boasts 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 finances, determine methods to enhance it, and help you accomplish your long-term financial goals. Many Lincoln, NE residents commonly immediately think of investing when they think of wealth management services and financial advisors. While that is a central feature of any financial plan, a professional financial advisor will be able to provide you with comprehensive financial advice that gives consideration to the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Lincoln, NE will utilize to help you achieve your objectives.
- Financial Planning
Our finances are a part of almost anything we do, from making sure we're set up in retirement, to paying for college, real estate deals, picking insurance policies, and putting food on the table each night. The best financial advisors in Lincoln, NE offer comprehensive services and tailored consulting by taking into account your entire financial situation.
- Tax Planning
Taxes are involved in virtually every financial transaction and transfer. According to the IRS's own data, over 70 percent of Americans pay more than necessary in taxes each year. The United States tax code is notoriously complex, yet it allows for perfectly legal means to lower your taxes. A skilled and ethical Lincoln, NE financial advisor will guide you through your tax implications to ensure keeping more money in your hands than in Uncle Sam's.
- 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 alternative assets such as real estate. A financial advisor in Lincoln, NE will assist in allocating and diversify your assets in order to mitigate risk and best position your money for long-term 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 Lincoln, NE financial advisor will help with tax implications, considering the optimal time to retire, when to withdraw money and how much to take out. A financial advisor will assist in formulating a budget and plan for source of income in retirement so you can enjoy your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Lincoln, NE businesses and business owners. Introducing a 401(k) plan is a great way to maintain your best employees and keep them motivated and happy. Our retirement consultants oversee over $218 million in plan assets and numerous of plan participants nationwide. Our Lincoln, NE financial advisor team offers extensive 401(k) planning for companies as well as personalized benefits for their employees.
- 401(k) Rollover
When transitioning to a new job, it can be tough to know the best way to manage the money you've accumulated in a previous Lincoln, NE employer's 401(k) plan. You have several options, including keeping the money in the account it is in now, moving it to a new 401(k), or investing the money in one of a range of IRA accounts. A financial advisor will have the knowledge how to best navigate handling your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's common to want to leave a legacy and leave some wealth behind the people you care about the dearly. Wealth transfers are different from simply leaving gifts behind in estate planning. A financial advisor in Lincoln, NE 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 call themselves a "financial advisor," so it's crucial to pick one who has obtained accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Lincoln, NE financial advisor at Correct Capital is bound by a "Code of Ethics and Standards of Conduct" to:
- Act with honesty, integrity, competence, and diligence.
- Act in the client's best interest.
- Exercise due care.
- Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
- Maintain confidentiality and protect the privacy of client information.
- Act in a manner that reflects positively on the financial planning profession and CFP® certification.
- Debt Management
Financial advisors offer tailored debt management plans that focus on consolidating debt, achieving lower interest rates if feasible, and structuring repayments. The goal is to create a manageable path forward that matches your financial situation and goals, ultimately leading to financial freedom.
- Budgeting
Creating and sticking to a budget is essential to achieving financial health and goals. Financial advisors in Lincoln, NE can help clients understand their cash flow, identify areas to spend less, and set realistic spending limits that facilitate growing your wealth. By providing resources and strategies for efficient budgeting, advisors ensure that clients can meet their current financial obligations while also saving for future goals.
When you hire a Lincoln, NE financial advisor at Correct Capital, we start by getting to know you personally and your aims. We will assess 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 wealth. As an independent advisory firm, our only commitment is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can offer you, and we will never try to sell you on something we do not believe in ourselves.
When Should I Speak to a Financial Advisor in Lincoln, NE?
Seeking the assistance of a financial advisor can be a vital step towards getting the life and financial health you want. While the optimal timing can vary widely from person to person, certain life events and circumstances often signal the need for expert financial advice.
- Major Life Transitions: Life is a series of transitions, and many of them have significant financial implications. Whether you're buying a home or changing careers, these milestones can significantly affect your financial landscape. A financial advisor can assist you navigate these changes, ensuring that your financial plan evolves to meet your changing 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 aren't confident to successfully handle your investments, or simply choose to focus your energy on other pursuits, a financial advisor can be essential. They bring experience and wisdom to your financial decisions, aiding to optimize your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
- Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can assist you evaluate your current financial situation, determine your retirement needs, and formulate 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 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 vital. They can help 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 paramount whenever you hire someone to do something, but particularly so when it comes to your hard-earned money. Beyond just finding a dependable advisor, you need one who ideally suits 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 background, including their years in the industry, the types of clients they've worked with, and their expert areas, can offer you a sense of their skills and whether they're prepared to handle your financial needs.
- What are your qualifications and certifications?
Inquire about any certifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require meeting rigorous education, experience, and ethical standards, signifying 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 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 frequency are crucial to a productive client-advisor relationship. Ask about how often you'll be able to meet with your advisor, whether they'll be in person or online, and how the advisor expects to keep you updated about your investments and financial plan.
- What's your fee structure?
Advisors can be fee-only, commission-based, or a mixture thereof. Understanding how an advisor is compensated will help you identify potential conflicts of interest and guarantee that their advice is offered with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor is a fiduciary is crucial. This means they are legally required to put your interests ahead of their own, giving advice that is in the best interest of your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide extensive financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of client education and portfolio reviews. 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 transparently share potential conflicts of interest and how they address them to ensure they don't negatively impact 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 Lincoln, NE?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions earn their income through commissions on the financial products they offer, such as other financial products. This fee structure can lead to a potential conflict of interest, as the advisor could be motivated to suggest 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 advise on products that can aid in achieving your goals, but not necessarily the ones most appropriate to your needs.
- 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 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 reduces conflicts of interest related to product sales.
- 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 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 Lincoln, NE
Correct Capital is distinguished in the Lincoln, NE financial advisory landscape for its bespoke approach to wealth management and financial planning. Understanding that not all clients have the same starting point or identical goals, we offer three different service models to our clients in Lincoln, NE:
One-Time Financial Plan (best for validators)
This service model is ideal for those who are looking for the insights and advice a financial advisor can offer without the ongoing management. This service is great for individuals who largely feel good about managing their finances but seek professional insight to confirm they're on the right track. Our team performs a thorough review of your financial landscape, providing 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 value ongoing guidance and advice as their financial situation evolves, or when they have specific questions about something related to their finances. This model offers monthly updates from our financial advisors, regular check-ins every quarter, 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 proactive advice on a wide range of financial matters — from tax strategies and preparing for retirement 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 committed to maximizing their wealth and realizing their financial goals.
Why Choose Correct Capital as Your Lincoln, NE Financial Advisor?
Correct Capital is a leading choice for individuals and families in Lincoln, NE 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 put your interests first. This commitment guarantees that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is carried out in a way that aligns most closely with your goals.
- Our I.O.U. Promise: Every piece of guidance 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.
- 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 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.
- 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 commitment to client education ensures that you are well-equipped to make informed decisions alongside your advisor.
Choosing Correct Capital as your financial advisor in Lincoln, NE means partnering with a team dedicated 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 seeking to achieve their financial goals and secure their future.
Other services we offer in Lincoln, NE include:
Call Correct Capital's Lincoln, NE 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 firmly believe that the relationship between an individual, family, or business owner in Lincoln, NE and their financial advisor is based on mutual trust. Dedicating our lives to guiding our clients achieve their financial and personal goals, whether it's funding higher education for your children or making the dream purchase of that dream car during your retirement years. Contact our Lincoln, NE financial advisor team today at 877-930-4015 or get in touch with us online to begin growing your wealth in the manner you desire.
