Financial Advisor in Moreno Valley, CA. Your hard-earned money deserves attention, and you need to be confident about how it's being managed and how it's being used. Numerous Moreno Valley residents do not have the financial literacy to feel confident they're making the optimal decisions with their money, while others simply don't have the time or interest to stay informed on market trends along with new laws, rules, and global events. That's when you need a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Moreno Valley, CA will make your money work for you. We utilize in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Moreno Valley, CA and beyond. Call us today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.
Wondering if you're ready to hire a financial advisor in Moreno Valley, CA? Check out our process page to see how easy we make it to find out if we would make a good team.
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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.
Schedule a 15-Minute Introductory Call
A 2018 study by FINRA revealed that 53 percent of American adults are worried about their finances. The root of that concern is often just not being sure they're managing their money correctly. After our Moreno Valley, CA financial advisor team gets to know you, your current financial situation and your financial aims, we'll implement a road map to help you realize them. As a fiduciary and an independent firm, every Correct Capital financial advisor is obligated to act in your best interest and we are not limited in the options we can put forward. Our financial advisors in Moreno Valley, CA 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 specialist who provides advice on managing personal finances and investments. This role covers a wide range of services, from investment management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a thorough view of your financial situation to advise on strategies that align with 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 accreditations 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 Moreno Valley, CA
There are several types of advisors that vary based on the services they offer, how they're paid, their professional expertise, and their legal obligations to clients:
- Investment Advisors or Portfolio Managers: These advisors provide advice on securities and oversee 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 registered with either the Securities and Exchange Commission (SEC) or state regulators, based on the assets under management.
- 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 register with the SEC and are typically 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 holds a Series 7 license is qualified to sell general securities, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP certification have undergone extensive training and adhere to high ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs provide a wide array of financial advisory services, ranging from managing debt to planning for retirement, and investment strategies. Their methodology is holistic, 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 also adhere to a fiduciary duty. They specialize in providing comprehensive financial advice, covering everything from investment management to tax advice, ensuring that clients' financial goals are met with the highest ethical standards.
- Financial Coaches: Are dedicated to enhancing clients' financial literacy, helping with fundamentals such as saving money and budgeting. They are perfect for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching delivers a strong basis for handling personal finances wisely, especially for those just starting out.
- Wealth Managers: Serve high-net-worth individuals, offering a broad array of services that include estate planning, tax assistance, and investment management. They collaborate intimately with their clients to manage complex financial situations and implement wealth preservation strategies. Their skill set is tailored for maximizing the financial health and legacy of affluent clients, making sure that all investments and planning strategies meet tailored 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 group of advisors includes CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act solely in the best interest of our clients across all our engagements.
What Does a Financial Advisor Do?
A financial advisor will evaluate your extant financial situation, determine means to enhance it, and help you realize your future financial goals. Many Moreno Valley, CA residents often immediately think of investing when they think of wealth management services and financial advisors. While that is a crucial facet of any financial plan, a professional financial advisor will be able to offer you comprehensive financial advice that takes into account the whole of your finances. The following are some of the services your Correct Capital financial advisor in Moreno Valley, CA will utilize to help you meet your goals.
- Financial Planning
Our finances are a part of almost everything we do, from making sure we're prepared for retirement, to education, real estate deals, choosing insurance policies, and putting food on the table each night. The best financial advisors in Moreno Valley, CA offer holistic services and personalized advice by evaluating your entire financial situation.
- Tax Planning
Tax considerations play a role in virtually every financial transaction and transfer. According to the IRS's own data, more than 70 percent of Americans pay more than necessary in taxes every year. The United States tax code is notoriously complex, yet it provides perfectly legal ways to lower your taxes. A skilled and ethical Moreno Valley, CA financial advisor will help you navigate your tax implications in the interest of keeping more money in your own account.
- 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 Moreno Valley, CA will assist to allocate and diversify your assets to mitigate risk and optimally position your money for growth.
- Retirement Planning
Depending on where you currently are in life and the kind of life you want to live when you retire, your Moreno Valley, CA financial advisor will assist with tax implications, considering the optimal time to retire, when to make withdrawals and how much to withdraw. A financial advisor will aid in creating a budget and plan for source of income in retirement so you can enjoy your golden years just how you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Moreno Valley, CA businesses and business owners. Setting up a 401(k) plan is a great way to keep your best employees and keep them productive and happy. Our retirement consultants manage over $218 million in plan assets and thousands of plan participants nationwide. Our Moreno Valley, CA financial advisor team offers thorough 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 handle the money you've accumulated in a previous Moreno Valley, CA employer's 401(k) plan. You have multiple options, such as keeping the money in the account it is in now, moving it to a new 401(k), or putting the money in one of a selection of IRA accounts. A financial advisor will have the knowledge how to best navigate handling your 401(k) funds.
- Generational Wealth Transfers
You earn your money, and it's common to want to leave a legacy and bequeath some wealth behind the people you care about the most. Wealth transfers are distinct from merely leaving gifts behind in estate planning. A financial advisor in Moreno Valley, CA 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 call themselves a "financial advisor," so it's important to choose one who has earned accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Moreno Valley, CA 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 managing debt, securing lower interest rates where possible, 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 Moreno Valley, CA can assist clients grasp their cash flow, find areas for savings, and set realistic spending limits that encourage growing your wealth. By providing resources and strategies for efficient budgeting, advisors make sure that clients can meet their current financial obligations while also preparing for future goals.
When you hire a Moreno Valley, CA financial advisor at Correct Capital, we start by getting to know you and your aims. We will evaluate your current income, assets, investments, debts, and expenses. Next we've done that, we'll work in concert with you to determine your preferred risk tolerance and how we can best help you grow your wealth. As an independent advisory firm, our only obligation 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.
Do I Need to Speak to a Financial Advisor in Moreno Valley, CA?
Seeking the guidance of a financial advisor can be a key step towards getting the life and financial health you want. While the ideal moment can differ greatly from person to person, certain life events and circumstances often indicate the need for expert financial advice.
- Major Life Changes: Life is a long line of changes, and many of them have significant financial implications. Whether you're starting a family or facing retirement, these milestones can profoundly affect how your money should be used and invested. A financial advisor can assist you navigate these changes, ensuring that your financial plan evolves to meet your evolving situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: Managing personal finances can be complex, demanding, and, frankly, daunting for many. If you aren't confident to successfully manage your investments, or simply prefer to spend your energy on other pursuits, a financial advisor can be essential. They bring expertise and perspective to your financial decisions, assisting to optimize your portfolio, prevent costly mistakes, and set up your investments for future success.
- Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can aid you assess your current financial situation, estimate your retirement needs, and formulate a plan to ensure you can experience 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 myriad of investment options, many of which come with their own 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 vital. They can assist 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 paramount whenever you hire someone to do something, but especially so when it comes to your hard-earned money. In addition to finding a reliable advisor, you need one whose specialties align with your needs. It's important to ask the right questions during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's track record, including their time spent in the industry, the varieties of clients they've collaborated with, and their areas of expertise, can offer you a sense of their skills and whether they're well-suited to manage your financial needs.
- 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 fulfilling demanding educational, experience, and ethical standards, indicating a high level of competence and expertise.
- What is your investment philosophy?
An advisor's investment philosophy should align with your risk tolerance and financial goals. Whether they favor a cautious 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 usually communicate with clients?
Communication style and regularity are essential to a productive client-advisor relationship. Inquire about how often you'll have meetings, whether they'll be in person or virtual, and how the advisor intends to keep you informed about how your investments are going and if you need any updates to your plan.
- What's your fee structure?
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 help you identify potential conflicts of interest and ensure that their advice is offered with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor acts as a fiduciary is essential. This means they are legally required to put your interests before their own, giving advice that optimally benefits your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide holistic financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of client education and portfolio reviews. Grasping 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 openly discuss potential conflicts of interest and how they address them to ensure they don't harm their clients' financial plans. Fiduciary advisors must reveal 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 Moreno Valley, CA?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors earn their income through commissions on the products they sell, such as insurance policies. This fee structure can lead to a potential conflict of interest, as the advisor might be incentivized to recommend products that generate higher commissions rather than 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 best suited to your needs.
- Fee-Only: Fee-only advisors 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 various shapes, including a percentage of the assets under management (AUM). This model is frequently regarded as more clear and aligned with the client's best interests, as it reduces conflicts of interest related to product sales.
- 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 blend of the fee-only and commission-based structures, fee-based advisors generally also have a fiduciary duty, which means that even if 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 Moreno Valley, CA
Correct Capital stands out in the Moreno Valley, CA 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 a variety of service models to our clients in Moreno Valley, CA:
One-Time Financial Plan (best for validators)
This service model is ideal for those who are looking for the guidance and recommendations a financial advisor can offer without the ongoing management. This service is great for individuals who largely feel good about managing their finances but desire professional insight to ensure they're doing things the right way. Our team performs 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 is designed for people who appreciate consistent guidance and advice as their financial situation evolves, or when they have specific questions about something related to their finances. This model offers monthly insights from our financial advisors, regular check-ins every quarter, and availability on an as-needed basis. While we won't be managing your portfolio, we'll work 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, strategic financial planning, and proactive advice on a wide range of financial matters — from tax planning and retirement planning to estate planning and beyond. Our wealth management clients enjoy a sense of security, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals committed to maximizing their wealth and realizing their long-term goals.
Why Choose Correct Capital as Your Moreno Valley, CA Financial Advisor?
Correct Capital is a premier choice for individuals and families in Moreno Valley, CA seeking trusted, professional 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 are legally obligated to put your interests first. 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 at heart.
- Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent means we are not tied to any financial institution or product, allowing us the freedom to choose the best investments and strategies for you.
- Our Qualifications: We are a Registered Investment Advisor (RIA), which gives us the ability access to a wide variety of investment solutions and research. Our advisor team includes two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Moreover, our retirement consultants and financial portfolio managers boast over 100 years of combined experience.
- We Are Proactive: Our advisors believe that the most valuable way to create long-term financial security is to anticipate trends and lead, rather than follow. Leveraging the latest data and software to analyze trends, 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 commitment 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 Moreno Valley, CA means joining forces with a team committed to your financial success. Our expertise, 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 safeguard their future.
Other services we offer in Moreno Valley, CA include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
Call Correct Capital's Moreno Valley, CA Financial Advisor Team Today
The decisions you make about your finances and the decisions you make with it are deeply personal. At Correct Capital, we firmly believe in the relationship between a person, household, or business owner in Moreno Valley, CA and their financial advisor is founded on trust. Dedicating our lives to helping our clients realize their personal and financial goals, be it funding higher education for your children or finally achieving the dream of owning that dream car during your retirement years. Reach out to our Moreno Valley, CA financial advisor team today at 877-930-4015 or start a conversation with us online to begin growing your wealth in the manner you desire.
