Financial Advisor in Milwaukee, WI

Financial Advisor in Milwaukee, WI. Your hard-earned money deserves attention, and you want to feel confident about how it's expanding and how it's being used. A lot of Milwaukee residents do not have the financial literacy to feel sure they're making the optimal decisions with their money, while others are too busy or inclination to stay up to date on market trends along with new laws, rules, and different events happening around the world. That's when you should consider hiring a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Milwaukee, WI will help your finances grow. We employ in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Milwaukee, WI and beyond. Speak to a team member 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 Milwaukee, WI? Take a look at our process page to find out how easy we make it to find out if you're a good fit.

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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.

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A 2018 study by FINRA revealed that 53 percent of American adults are worried about their finances. The cause of that concern is frequently simply not being sure they're making the right decisions with their money. After our Milwaukee, WI financial advisor team gets to know you, your current financial situation and your financial goals, we'll create a road map to help you realize them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically bound to act in your best interest and we are not limited in the plans we can suggest. Our financial advisors in Milwaukee, WI have certifications that can only be acquired through rigorous testing and by meeting strict education requirements.

What Is a Financial Advisor?

A financial advisor is a professional who helps individuals manage their money, budget, put enough money away, and prepare for their financial future. This role covers a spectrum 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 be called a financial advisor or financial planner, reliable and professional advisors will have accreditations from regulatory bodies such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.

Types of Financial Advisors in Milwaukee, WI

Financial advisors come in various forms, each with different areas of expertise, compensation models, and types of services offered:

• Investment Advisors or Portfolio Managers: These advisors offer advice on securities and manage investment portfolios. They often work in RIAs and are required to act in a fiduciary capacity, meaning they must act within a client's best interest. Investment advisors are certified with either the Securities and Exchange Commission (SEC) or state regulators, depending on the assets under management.
• 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 depend on their specific licenses, such as Series 6 or Series 7. For example, an advisor who holds a Series 7 license is qualified to sell general securities, including mutual funds and exchange-traded funds (ETFs).
• CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors holding the CFP certification have undergone extensive training and adhere to the highest ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs offer a vast spectrum of financial planning services, such as managing debt to planning for retirement, and tax optimization strategies. This approach is holistic, intended to satisfy every aspect of a client's financial life.
• Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed education similar to CFPs and are also required to hold their clients' interests above their own. They specialize in providing comprehensive financial advice, encompassing everything from estate planning to retirement strategies, ensuring that clients' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Are dedicated to improving clients' financial literacy, assisting with basics such as saving money and budgeting. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. Their services provides a solid foundation for managing personal finances wisely, particularly for those just starting out.
• Wealth Managers: Cater to high-net-worth individuals, offering comprehensive services that include estate planning, tax help, and investment management. They partner closely with their clients to handle complex financial situations and formulate wealth preservation strategies. Their expertise is tailored for enhancing the financial health and future of those with substantial assets, making sure that every financial decision is aligned with customized advice and approaches.

Each type of financial advisor serves different needs, and the best choice depends on an individual's or organization's specific financial situation and goals. At Correct Capital, our team of advisors includes CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, ensuring that we act exclusively in the best interest of our clients in all of our advice and dealings.

What Does a Financial Advisor Do?

A financial advisor will analyze your present finances, ascertain means to enhance it, and help you reach your future financial goals. Many Milwaukee, WI residents typically immediately think of investing when they hear wealth management services and financial advisors. While that is a core aspect of any financial plan, a qualified financial advisor will be able to give you holistic financial advice that takes into consideration the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Milwaukee, WI will implement to help you reach your objectives.

• Financial Planning

  Our money is integral to almost everything we do, from making sure we're set up in retirement, to education, buying and/or selling a house, choosing insurance policies, and putting food on the table each night. The best financial advisors in Milwaukee, WI offer comprehensive services and personalized guidance by evaluating your entire financial situation.

• Tax Planning

  Taxes are involved in nearly every financial transaction and transfer. According to the IRS's own data, over 70 percent of Americans overpay in taxes every year. The United States tax code is incredibly complicated, yet it offers perfectly legal means to reduce your tax liability. A skilled and ethical Milwaukee, WI financial advisor will help you navigate your tax implications in the interest 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 alternative assets such as real estate. A financial advisor in Milwaukee, WI will assist in allocating and diversify your assets in order to mitigate risk and strategically position your money for growth.

• Retirement Planning

  Depending on where you stand in life and your desired lifestyle when you retire, your Milwaukee, WI financial advisor will help with tax planning, considering the best age to retire, when to make withdrawals and how much to take out. A financial advisor will aid in creating a budget and plan for where your income will come from in retirement so you can live out your golden years just how you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Milwaukee, WI businesses and business owners. Implementing a 401(k) plan is a fantastic way to maintain your best employees and keep them productive and happy. Our retirement consultants oversee over $218 million in plan assets and thousands of plan participants nationwide. Our Milwaukee, WI financial advisor team offers comprehensive 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 handle the money you've accumulated in a previous Milwaukee, WI employer's 401(k) plan. You have a number of options, including keeping the money in the account it is currently in, transferring 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 managing your 401(k) funds.

• Generational Wealth Transfers

  You strive for your money, and it's common to wish to leave a legacy and pass on some wealth behind the people you care about the most. Wealth transfers are different from just leaving gifts behind in estate planning. A financial advisor in Milwaukee, WI 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 choose one who has received accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Milwaukee, WI financial advisor at Correct Capital must abide by a "Code of Ethics and Standards of Conduct" to:

1. Act with honesty, integrity, competence, and diligence.
2. Act in the client's best interest.
3. Exercise due care.
4. Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
5. Maintain confidentiality and protect the privacy of client information.
6. Act in a manner that reflects positively on the financial planning profession and CFP® certification.
• Debt Management

  Financial advisors offer personalized debt management plans that focus on consolidating debt, achieving lower interest rates where possible, and structuring repayments. The goal is to create a manageable path forward that aligns with your financial situation and goals, eventually leading to stability.

• Budgeting

  Creating and staying compliant with a budget is essential to achieving financial health and goals. Financial advisors in Milwaukee, WI can assist clients understand their cash flow, identify areas for savings, and set realistic spending limits that encourage wealth accumulation. By providing resources and strategies for effective budgeting, advisors ensure that clients can meet their current financial obligations while also saving for future goals.

When you hire a Milwaukee, WI financial advisor at Correct Capital, we begin by getting to know you and your objectives. We will evaluate your current income, assets, investments, debts, and expenses. Once we've accomplished that, we'll work 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 limitation to the services, products, and investment opportunities our financial advisor team can put forward, and we will never try to sell you on something we do not believe in ourselves.

When Should I Hire a Financial Advisor in Milwaukee, WI?

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

• Major Life Transitions: Life is a series of changes, and many of them have significant 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 manage these changes, ensuring that your financial plan adapts to meet your evolving situation and goals.
• Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complex, time-consuming, and, frankly, daunting for many. If you aren't confident to successfully handle your investments, or simply prefer to spend your energy on other pursuits, a financial advisor can be invaluable. They bring experience and wisdom to your financial decisions, assisting to optimize your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
• Nearing Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can aid you assess your current financial situation, determine your retirement needs, and devise a plan to ensure you can live comfortably during your retirement years with peace of mind. This includes strategies for Social Security benefits, pension management, and distribution strategies from retirement accounts.
• Complex Financial Products: The financial market offers a wide array of investment options, many of which come with their own set of complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's insight 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 particularly so when it involves your finances. In addition to finding a trustworthy 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 varieties of clients they've collaborated with, and their specializations, can offer you a sense of their expertise and whether they're well-suited to manage your specific financial circumstances.

• What are your qualifications and certifications?

  Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require fulfilling demanding education, experience, and ethical standards, indicating a high level of expertise and expertise.

• What is your investment philosophy?

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

• How do you usually communicate with clients?

  Communication method and regularity are crucial to a successful client-advisor relationship. Discuss how often you'll have meetings, whether they'll be face-to-face or virtual, and how the advisor expects to keep you updated about your investments and financial 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 help you identify potential biases and ensure that their advice is given 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 obligated to put your interests before their own, offering advice that best serves 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. Knowing the full scope of services offered can help you gauge whether the advisor can meet all your financial needs.

• How do you handle conflicts of interest?

  An honest advisor will clearly explain potential conflicts of interest and how they deal with them to ensure they don't harm 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 assist you in determining whether there is a good personal fit. Remember, a strong relationship with your financial advisor is built on transparency, trust, and mutual understanding.

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

How Much Does a Financial Advisor Cost in Milwaukee, WI?

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

1. Commission-Based: Commission-based advisors make their earnings through commissions on the products they sell, such as mutual funds. This fee structure can lead to a possible conflict, as the advisor might be incentivized to suggest products that generate higher commissions rather than 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 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 advice and services 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 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 fees paid by the client and commissions from selling financial products. While this model offers a mix of the fee-only and commission-based structures, such advisors typically also have a fiduciary duty, which means that although they get commission from certain products, they must reveal this 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 Milwaukee, WI

Correct Capital stands out in the Milwaukee, WI financial advisory landscape for its customized 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 Milwaukee, WI:

One-Time Financial Plan (best for validators)

This service model is best for those who are seeking the insights and advice a financial advisor can offer without the continuous oversight. This service is great for individuals who are generally confident in managing their finances but seek professional validation to confirm they're on the right track. Our team performs a thorough review of your financial landscape, 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 individuals who value ongoing guidance and advice as their financial situation changes, 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 will not be managing your portfolio, 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 prefer to hand over the management of their investments and financial planning to professionals. This includes active portfolio management, comprehensive financial strategizing, and proactive advice 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 Milwaukee, WI Financial Advisor?

Correct Capital is a leading choice for individuals and families in Milwaukee, WI looking for reliable, expert financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:

• We're Fiduciary Advisors: As fiduciaries, Correct Capital is legally obligated to act in your best interests. This commitment guarantees that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is done with your best interests in mind.
• Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent means we aren't tied to any financial institution or product, enabling us the freedom to select the best investments and strategies for you.
• Professional Credentials: We are a Registered Investment Advisor (RIA), which gives us the ability access to a wide variety of investment solutions and research. Our advisor team includes a couple of CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. 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. Leveraging 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 to keep you informed and engaged with your financial health. Our commitment to client education guarantees that you are well-equipped to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Milwaukee, WI means partnering 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 perfect choice for individuals and families looking to achieve their financial goals and safeguard their future.

Other services we offer in Milwaukee, WI include:

• 401(k) Audit
• High-Net-Worth Wealth Management
• Retirement Planner
• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor
• Self-Employed Retirement Plans

Call Correct Capital's Milwaukee, WI Financial Advisor Team Today

Your money and the decisions you make with it are deeply personal. At Correct Capital, we firmly believe that the relationship between a person, family, or business owner in Milwaukee, WI and their financial advisor is based on mutual trust. Dedicating our lives to guiding our clients realize their financial and personal goals, be it sending your children to college or making the dream purchase of that dream car during your retirement years. Contact our Milwaukee, WI financial advisor team today at 877-930-4015 or get in touch with us online to begin building your wealth in the manner you desire.

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