Financial Advisor in Modesto, CA

Financial Advisor in Modesto, CA. You work hard for your money, and you need to feel confident about how it's growing and how it's being used. Many Modesto 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 up to date on financial markets along with new laws, rules, and different events happening around the world. That's when you need a dependable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Modesto, CA will help your finances grow. We use in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Modesto, CA 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 work with a financial advisor in Modesto, CA? Check out our process page to discover 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 cause of that anxiety is frequently simply not being sure they're making the right decisions with their money. After our Modesto, CA financial advisor team gets to know you, your present financial situation and your financial aims, we'll implement a road map to help you realize them. As a fiduciary and an independent firm, your Correct Capital financial advisor is legally and ethically compelled to act in your best interest and we are not limited in the plans we can recommend. Our financial advisors in Modesto, CA have certifications that can only be acquired through rigorous testing and by meeting stringent education requirements.

What Is a Financial Advisor?

A financial advisor is a professional who helps individuals oversee their money, budget, save, and plan for their financial future. This comprehensive definition encompasses a wide range of services, from portfolio management and retirement planning to tax planning and estate planning. Financial advisors take a comprehensive view of your financial situation to recommend strategies that match your goals, risk tolerance, and time horizon. While technically anyone can be called a financial advisor or financial planner, trustworthy and professional advisors will have qualifications from organizations such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.

Types of Financial Advisors in Modesto, CA

Financial advisors can work and market themselves under different titles:

• Investment Advisors or Portfolio Managers: These advisors offer advice on securities and manage investment portfolios. They often work in RIAs and are required to serve as fiduciaries, putting their clients' interests above their own. Investment advisors are certified with either the Securities and Exchange Commission (SEC) or state regulators, based 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 register with the SEC and are usually members of FINRA. The financial products they can sell depend on their specific licenses, such as Series 6 or Series 7. For instance, an individual who holds a Series 7 license represents general securities, such as mutual funds and exchange-traded funds (ETFs).
• CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP designation have undergone extensive training and adhere to the highest ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs offer a vast spectrum of financial advisory services, ranging from debt management to retirement planning, and estate planning. Their approach is comprehensive, intended to meet every aspect 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 bound by a fiduciary duty. They focus on providing comprehensive financial advice, covering everything from estate planning to retirement strategies, ensuring that customers' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Focus on improving clients' financial literacy, guiding with fundamentals such as saving money and budgeting. They are perfect for clients who don't have the financial resources to hire a financial advisor just yet. Their services offers a strong basis for handling personal finances effectively, especially for those just starting out.
• Wealth Managers: Help high-net-worth individuals, offering comprehensive services that encompass estate planning, tax assistance, and investment management. They work closely with their clients to manage complex financial situations and implement wealth preservation strategies. Their skill set is geared towards optimizing the financial health and future of wealthy individuals, making sure that every financial decision is aligned with personalized advice and approaches.

Each type of financial advisor offers unique expertise and services to the table. At Correct Capital, our group of advisors includes CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, guaranteeing 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 look over your present finances, determine means to enhance it, and help you accomplish your future financial goals. Many Modesto, CA residents commonly immediately think of investing when they consider wealth management services and financial advisors. While that is a principal component of any financial plan, a qualified financial advisor will be able to give you comprehensive financial advice that takes into account the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Modesto, CA will utilize to help you meet your goals.

• Financial Planning

  Our money is involved in almost everything we do, from making sure we're prepared for retirement, to education, buying and/or selling a home, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Modesto, CA offer all-encompassing services and personalized guidance by taking into account your entire financial situation.

• Tax Planning

  Taxes are involved almost any time money is exchanged or used. According to the IRS's own data, over 7 out of 10 of Americans pay more than necessary in taxes each year. The United States tax code is notoriously complex, yet it offers perfectly legal means to lower your taxes. A professional and trustworthy Modesto, CA financial advisor will help you navigate your tax implications with the aim of keeping more money in your own account.

• Portfolio Management and Asset Management

  Your financial portfolio is the collection of your financial assets. They can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as real estate. A financial advisor in Modesto, CA will help 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 hang up your cape, your Modesto, CA 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 help you formulate a budget and strategy for source of income 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 Modesto, CA businesses and business owners. Setting up a 401(k) plan is a fantastic 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 Modesto, CA financial advisor team offers thorough 401(k) planning for companies as well as individualized benefits for their employees.

• 401(k) Rollover

  When moving to a new job, it can be difficult to know the best way to deal with the money you've already saved in a previous Modesto, CA employer's 401(k) plan. You have several 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 know how to best approach managing your 401(k) funds.

• Generational Wealth Transfers

  You strive for your money, and it's natural to wish to leave a legacy and leave some wealth to the people you care about the most. Wealth transfers are distinct from simply leaving gifts behind in estate planning. A financial advisor in Modesto, CA can optimize 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 imperative to choose one who has obtained accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Modesto, CA 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 consolidating debt, achieving lower interest rates if feasible, and prioritizing repayments. The goal is to create a practical path forward that suits your financial capabilities and goals, ultimately leading to financial freedom.

• Budgeting

  Creating and sticking to a budget is fundamental to having the financial health and life you want. Financial advisors in Modesto, CA can help clients understand how much money's coming in, identify areas to spend less, and set realistic spending limits that encourage wealth accumulation. By providing tools and strategies for efficient budgeting, advisors make sure that clients can fulfill their current financial obligations while also preparing for future goals.

When you hire a Modesto, CA financial advisor at Correct Capital, we start by getting to know you and your aims. We will analyze your current income, assets, investments, debts, and expenses. Once we've completed that, we'll work in tandem with you to ascertain your preferred risk tolerance and how we can best help you achieve your goals. 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 Consider Hiring a Financial Advisor in Modesto, CA?

Seeking the guidance 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 indicate the need for expert 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 help you through these changes, ensuring that your financial plan evolves to meet your evolving circumstances and goals.
• Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances By Yourself: Managing personal finances can be complicated, demanding, and, frankly, overwhelming for many. If you aren't confident to effectively handle your investments, or simply prefer to focus your time on other pursuits, a financial advisor can be crucial. They bring experience and wisdom to your financial decisions, assisting to optimize your portfolio, prevent costly mistakes, and set up your investments for sustainable growth.
• Getting Close to Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can aid you review your current financial situation, determine your retirement needs, and craft a plan to ensure you can enjoy your retirement years comfortably. This includes strategies for Social Security benefits, pension management, and withdrawal plans 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 guide you comprehend 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 hard-earned money. In addition to finding a dependable 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 background, including their time spent in the industry, the types of clients they've assisted, and their specializations, can offer you a sense of their skills and whether they're equipped to tackle your financial situation.

• What are your qualifications and certifications?

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

• Can you describe your investment philosophy?

  An advisor's investment philosophy should align with 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 reflect your aspirations and expectations.

• How do you prefer to communicate with clients?

  Communication method and frequency are vital to a successful client-advisor relationship. Ask about how often you'll be able to meet with your advisor, whether they'll be face-to-face or online, and how the advisor intends 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 mixture thereof. Knowing how an advisor is compensated will assist you in identifying potential biases and ensure that their advice is made with your best interests in mind.

• Do you have a fiduciary duty to your clients?

  Confirming that an advisor acts as a fiduciary is crucial. This means they are legally required to put your interests before their own, providing advice that optimally benefits 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. Understanding the full scope of services offered can enable you to assess 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 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 offer essential information about the financial advisor's qualifications and approach but also help you gauge whether there is a good personal fit. Remember, a strong relationship with your financial advisor is built on transparency, trust, and mutual understanding.

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

How Much Does a Financial Advisor Cost in Modesto, CA?

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

1. Commission-Based: Commission-based advisors earn their income through commissions on the financial products they offer, such as mutual funds. This fee structure can lead to a possible conflict, 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 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 several forms, including hourly rates assets under management (AUM). This model is often seen as more transparent and in line with the client's best interests, as it reduces conflicts of interest related to product sales.
3. Fee-Based: Fee-based advisors 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, fee-based 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 Modesto, CA

Correct Capital stands out in the Modesto, CA financial advisory landscape for its customized approach to wealth management and financial planning. Understanding that not all clients have the same starting point or the same goals, we offer three different service models to our clients in Modesto, CA:

One-Time Financial Plan (best for validators)

This service model is ideal for those who are seeking the guidance and recommendations a financial advisor can offer without the continuous oversight. This service is excellent for individuals who are generally confident in managing their finances but seek professional insight to confirm they're on the right track. Our team conducts a thorough review of your financial landscape, providing you with a detailed plan that addresses your specific goals, concerns, and opportunities for growth.

Subscription (best for collaborators)

Our subscription service caters to individuals 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 will not 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 a sense of security, 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 realizing their long-term goals.

Why Choose Correct Capital as Your Modesto, CA Financial Advisor?

Correct Capital is a premier choice for individuals and families in Modesto, CA looking for trusted, professional financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:

• We are Fiduciary Advisors: As fiduciaries, we 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 means we are not tied to any specific 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 a couple of CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Additionally, our retirement consultants and financial portfolio managers have over 100 years of combined experience.
• Proactivity is Our Approach: Our advisors believe that the most valuable way to create long-term financial security is to stay ahead of trends and lead, rather than follow. Utilizing in-depth research and analytics, we prepare the most appropriate strategy for your needs.
• Ongoing Education and Resources: We offer at Correct Capital quarterly webinars and workshops aimed at keeping you up-to-date and engaged with your financial health. Our dedication to client education ensures that you are well-equipped to make informed decisions together with your advisor.

Choosing Correct Capital as your financial advisor in Modesto, CA 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 Modesto, CA include:

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

Call Correct Capital's Modesto, CA Financial Advisor Team Today

Your money and the decisions you make with it are inherently personal. At Correct Capital, we strongly believe in the relationship between a person, family, or business owner in Modesto, CA and their financial advisor is based on trust. Committed to helping our clients achieve their financial and personal goals, whether it's sending your children to college or finally achieving the dream of owning that dream car in retirement. Contact our Modesto, CA financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards growing your wealth how you've always wanted.

---