Financial Advisor in Moreno Valley, CA. Your hard-earned money deserves attention, and you want to feel confident about how it's expanding and how it's being used. Many Moreno Valley 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 inclination to stay informed 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 Moreno Valley, CA will make your money work for you. We utilize in-depth research along with our extensive expertise 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? Explore our process page to see how easy we make it to determine if you're a good fit.
A 2018 study by FINRA found that 53 percent of American adults are anxious about their finances. A source 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 finances 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 bound to act in your best interest and we are not limited in the plans we can put forward. Our financial advisors in Moreno Valley, CA have certifications that can only be obtained through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who helps individuals oversee their money, plan their finances, save, and prepare for their financial future. This broad definition includes a variety of services, from portfolio management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a holistic view of your financial situation to recommend strategies that align with your goals, risk tolerance, and time horizon. While technically anyone can call themselves a financial advisor or financial planner, reliable and professional advisors will have qualifications from regulatory bodies such as FINRA and the CFP Board that indicate their experience and education.
Types of Financial Advisors in Moreno Valley, CA
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 serve as fiduciaries, meaning they must act within a client's best interest. Portfolio managers 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 trade securities like stocks, bonds, and mutual funds for 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, a broker who has a Series 7 license is qualified to sell general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP designation have undergone extensive education and uphold the highest ethical standards, including a fiduciary duty to their customers. CFPs provide a vast spectrum of financial planning services, including managing debt to retirement planning, and estate planning. Their approach is all-encompassing, aiming to satisfy all aspects of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed training comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and also adhere to a fiduciary duty. Like CFPs, ChFCs specialize in providing comprehensive financial advice, covering everything from investment management to tax advice, guaranteeing that customers' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Are dedicated to boosting clients' financial literacy, assisting with basics such as saving money and creating budgets. They are perfect for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching delivers a solid foundation for handling personal finances wisely, particularly for those in the early stages of financial planning.
- Wealth Managers: Serve high-net-worth individuals, offering extensive services that include estate planning, tax assistance, and investment management. They work closely with their clients to navigate complex financial situations and formulate wealth preservation strategies. Their skill set is focused on maximizing the financial health and legacy of wealthy individuals, making sure that every financial decision is aligned with personalized advice and approaches.
Each type of financial advisor brings 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, ensuring 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 examine your current financial situation, identify ways to enhance it, and help you reach your long-term financial goals. Many Moreno Valley, CA residents often immediately think of investing when they consider wealth management services and financial advisors. While that is a essential component of any financial plan, a professional financial advisor will be able to provide you with holistic financial advice that gives consideration to the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Moreno Valley, CA will implement to help you achieve your goals.
- Financial Planning
Our finances are involved in almost anything we do, from making sure we're set up in retirement, to education, real estate transactions, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Moreno Valley, CA offer comprehensive services and bespoke guidance by taking into account your entire financial situation.
- Tax Planning
Tax considerations play a role almost any time money is exchanged or used. According to the IRS's own data, more than 7 out of 10 of Americans overpay in taxes each year. The United States tax code is notoriously complex, yet it provides perfectly legal ways to minimize taxes owed. A reliable and expert Moreno Valley, CA financial advisor will assist you in navigating your tax implications in the interest 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 equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as art. A financial advisor in Moreno Valley, CA will assist to allocate and diversify your assets in order to mitigate risk and strategically position your money for long-term success.
- 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 Moreno Valley, CA financial advisor will assist with tax implications, considering the optimal time to retire, when to withdraw money and how much to withdraw. A financial advisor will help you formulate a budget and strategy for where your income will come from 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. Implementing a 401(k) plan is a great way to retain your best employees and keep them productive and happy. Our retirement consultants represent over $218 million in plan assets and thousands of plan participants nationwide. Our Moreno Valley, CA 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 challenging to know the best way to manage the money you've already saved in a previous Moreno Valley, CA employer's 401(k) plan. You have a number of options, such as keeping the money in the account it is currently in, transferring it to a new 401(k), or putting the money in one of a variety 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 wish to leave a legacy and leave some wealth to 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 strategically plan your money for both your children but for generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can give themselves the title of "financial advisor," so it's paramount to choose one who has earned accreditations and certifications from regulatory boards 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 if feasible, and prioritizing repayments. The goal is to create a manageable path forward that suits your financial situation and goals, ultimately leading to stability.
- Budgeting
Creating and staying compliant with a budget is fundamental to achieving financial health and goals. Financial advisors in Moreno Valley, CA can assist clients grasp your income level, find areas for savings, and set realistic spending limits that promote wealth accumulation. By providing resources and strategies for successful budgeting, advisors guarantee that clients can satisfy their current financial obligations while also planning for future goals.
When you hire a Moreno Valley, CA financial advisor at Correct Capital, we begin by getting to know you and your aims. We will assess your current income, assets, investments, debts, and expenses. Next we've done that, we'll work with you to determine your preferred risk tolerance and how we can best help you grow your money. As an independent advisory firm, our only priority is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can recommend, and we will never try to sell you on something we do not believe in ourselves.
When Should I Consider Hiring a Financial Advisor in Moreno Valley, CA?
Seeking the advice of a financial advisor can be a critical step towards achieving financial well-being, peace of mind, and wealth. While the ideal moment can differ greatly from person to person, certain life events and circumstances often signal the need for professional financial advice.
- Major Life Changes: Life is a series of changes, and many of them have major financial implications. Whether you're starting a family 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 evolves to meet your evolving situation and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances Alone: Managing personal finances can be complex, demanding, and, frankly, daunting for many. If you don't have the knowledge to successfully handle your investments, or simply choose to focus your energy elsewhere, a financial advisor can be essential. They bring insight and wisdom to your financial decisions, helping to optimize your portfolio, prevent costly mistakes, and set up your investments for long-term growth.
- Nearing Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can help you evaluate your current financial situation, determine your retirement needs, and craft a plan to ensure you can experience your retirement years without worry. This includes strategies for Social Security benefits, pension management, and distribution strategies from retirement accounts.
- Complex Financial Products: The financial market offers a wide array of investment options, many of which come with their own challenges. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's expertise can be essential. They can assist you grasp 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 whenever you hire someone to do something, but especially so when it comes to your hard-earned money. Beyond just finding a reliable advisor, you need one who best meets your needs. It's important to inquire properly during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's experience, including their time spent in the industry, the types of clients they've assisted, and their expert areas, can offer you a sense of their skills and whether they're equipped to tackle your specific financial circumstances.
- What are your qualifications and certifications?
Inquire about any certifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require adhering to demanding educational, experience, and ethical standards, indicating a high level of expertise and expertise.
- Can you describe your investment philosophy?
An advisor's investment philosophy should match 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 usually communicate with clients?
Communication style and regularity are crucial to a productive client-advisor relationship. Ask about how often you'll have meetings, whether they'll be in person or online, and how the advisor plans to keep you informed about how your investments are going and if you need any updates to your 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. Grasping how an advisor is compensated will help you identify potential biases 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 is a fiduciary is crucial. This means they are legally required to put your interests before their own, providing advice that is in the best interest of your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide 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 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 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 Moreno Valley, CA?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors make their earnings through commissions on the financial products they offer, such as other financial products. This fee structure can create a possible conflict, as the advisor might be incentivized to recommend products that generate higher commissions instead of 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 best suited to your needs.
- Fee-Only: Advisors on a fee-only basis are compensated straightforwardly by clients for the advice and services 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 clear and aligned with the client's best interests, as it minimizes 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, 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 cannot 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 the same 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 seeking the guidance and recommendations a financial advisor can offer without the continuous oversight. This service is great for individuals who largely feel good about managing their finances but are looking for professional insight to confirm they're on the right track. Our team performs a thorough review of your current financial situation, providing you with a detailed plan that addresses your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service is designed for individuals who value consistent guidance and advice as their financial situation evolves, or when they have specific questions about taxes, investments, or other aspects of their finances. This model offers monthly insights from our financial advisors, quarterly meetings, 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 prefer to hand over the management of their investments and financial planning to professionals. This includes active portfolio management, strategic financial planning, 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 Moreno Valley, CA Financial Advisor?
Correct Capital is a premier choice for individuals and families in Moreno Valley, CA looking for trusted, professional 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 are 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 carried out with your best interests at heart.
- Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Our independence signifies we are not tied to any specific financial institution or product, 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.
- Proactivity is Our Approach: 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 the latest data and software to analyze trends, our aim is to craft the most appropriate strategy for your needs.
- Continuous Learning Opportunities: Correct Capital offers quarterly webinars and workshops to keep you informed and engaged with your financial health. Our dedication to client education guarantees that you are fully prepared to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Moreno Valley, CA 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 looking to achieve their financial goals and safeguard their future.
Other services we offer in Moreno Valley, CA include:
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 strongly believe that the relationship between an individual, family, or entrepreneur in Moreno Valley, CA and their financial advisor is based on mutual trust. Dedicating our lives to guiding our clients achieve their financial and personal goals, be it sending your children to college or making the dream purchase of that dream car in retirement. Contact our Moreno Valley, CA financial advisor team today at 877-930-4015 or start a conversation with us online to begin growing your wealth how you've always wanted.
