Financial Advisor in Oklahoma City, OK

Financial Advisor in Oklahoma City, OK. Your hard-earned money deserves attention, and you need to feel confident about how it's expanding and how it's being used. A lot of Oklahoma City 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 market trends 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 Oklahoma City, OK will make your money work for you. We use in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Oklahoma City, OK 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.

Not sure if you're ready to hire a financial advisor in Oklahoma City, OK? Check out our process page to find out how simple we make it to determine if you're a good fit.

A 2018 study by FINRA reported that 53 percent of American adults are worried about their finances. The cause of that concern is often simply not being sure they're managing their money correctly. After our Oklahoma City, OK financial advisor team gets to know you, your present financial situation and your financial ambitions, we'll create a road map to help you achieve them. As a fiduciary and an independent firm, every Correct Capital financial advisor is required to act in your best interest and we are not limited in the options we can endorse. Our financial advisors in Oklahoma City, OK have certifications that can only be gained through rigorous testing and by meeting stringent education requirements.

What Is a Financial Advisor?

A financial advisor is a specialist who provides advice on managing personal finances and investments. This broad definition includes a spectrum of services, from investment management and retirement planning to tax planning and estate planning. Financial advisors take a holistic view of your financial situation to suggest strategies that suit 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 organizations such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.

Types of Financial Advisors in Oklahoma City, OK

There are multiple types of advisors that differ based on the services they provide, their compensation models, their areas of expertise, and their legal obligations to customers:

• Investment Advisors or Portfolio Managers: These advisors offer advice on securities and oversee investment portfolios. They're commonly associated with RIAs and are required to act in a fiduciary capacity, meaning they always have the client's best interest at heart. Portfolio managers are certified with either the Securities and Exchange Commission (SEC) or state regulators, based 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 register with the SEC and are generally members of FINRA. The financial products they can sell are determined by their specific licenses, such as Series 6 or Series 7. For instance, 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): Professionals holding the CFP certification have completed rigorous training and adhere to the highest ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs provide a vast spectrum of financial planning services, including debt management to planning for retirement, and estate planning. Their methodology 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 undergone education similar to CFPs and are also bound by a fiduciary duty. They focus on offering comprehensive financial advice, encompassing everything from estate planning to tax advice, guaranteeing that clients' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Are dedicated to enhancing clients' financial literacy, helping with fundamentals such as saving money and budgeting. They are ideal for clients who might not have the wealth to hire a financial advisor yet. This type of guidance offers a strong basis for handling personal finances efficiently, particularly for those looking to take the first step towards financial wellbeing.
• Wealth Managers: Serve high-net-worth individuals, offering comprehensive services that encompass estate planning, tax help, and investment management. They collaborate intimately with their clients to navigate complex financial situations and develop wealth preservation strategies. Their skill set is tailored for enhancing the financial health and legacy of affluent clients, ensuring that every financial decision is aligned with tailored advice and strategies.

Each type of financial advisor provides unique expertise and services to the table. At Correct Capital, our group of advisors boasts CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, making sure that we act solely in the best interest of our clients in all of our advice and dealings.

What Does a Financial Advisor Do?

A financial advisor will asses your present finances, determine means to improve it, and help you achieve your long-term financial goals. A lot of Oklahoma City, OK residents commonly immediately think of investing when they hear wealth management services and financial advisors. While that is a key part of any financial plan, a qualified financial advisor will be able to give you all-encompassing financial advice that takes into consideration the whole of your finances. The following are some of the services your Correct Capital financial advisor in Oklahoma City, OK will implement to help you reach your objectives.

• Financial Planning

  Our money is integral to almost anything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a house, choosing insurance policies, and putting food on the table each night. The best financial advisors in Oklahoma City, OK offer all-encompassing services and bespoke advice by evaluating your entire financial situation.

• Tax Planning

  Taxes are involved almost any time money is exchanged or used. 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 incredibly complicated, yet it allows for perfectly legal means to lower your taxes. A skilled and ethical Oklahoma City, OK financial advisor will assist you in navigating your tax implications in the interest of keeping more money in your hands than in Uncle Sam's.

• Portfolio Management and Asset Management

  Your financial portfolio is the aggregation of your financial assets. They can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as art. A financial advisor in Oklahoma City, OK will help in allocating and diversify your assets to mitigate risk and optimally position your money for growth.

• Retirement Planning

  Depending on where you stand in life and the kind of life you want to live when you hang up your cape, your Oklahoma City, OK financial advisor will assist with tax implications, evaluating the best age to retire, when to withdraw money and how much to withdraw. A financial advisor will help you formulate a budget and plan for source of income in retirement so you can spend your golden years exactly the way you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Oklahoma City, OK businesses and business owners. Implementing a 401(k) plan is a fantastic way to maintain your best employees and keep them satisfied and happy. Our retirement consultants oversee over $218 million in plan assets and thousands of plan participants nationwide. Our Oklahoma City, OK financial advisor team offers extensive 401(k) planning for companies as well as personalized benefits for their employees.

• 401(k) Rollover

  When transitioning to a new job, it can be tough to know the best way to handle the money you've accumulated in a previous Oklahoma City, OK employer's 401(k) plan. You have several options, such as keeping the money in the account it is currently in, moving it to a new 401(k), or putting the money in one of a range of IRA accounts. A financial advisor will be skilled in how to best manage managing your 401(k) funds.

• Generational Wealth Transfers

  You work hard for your money, and it's normal to want to leave a legacy and pass on some wealth to the people you care about the most. Wealth transfers are separate from merely leaving gifts behind in estate planning. A financial advisor in Oklahoma City, OK can strategically plan your money for not only your children but for future generations to come, even ones you haven't met yet.

• Fiduciary Advising

  Anyone can call themselves a "financial advisor," so it's vital to pick 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 Oklahoma City, OK financial advisor at Correct Capital must heed 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 customized debt management plans that focus on consolidating debt, achieving lower interest rates if feasible, and prioritizing repayments. The goal is to create a manageable path forward that suits your financial capabilities and goals, eventually leading to financial freedom.

• Budgeting

  Creating and staying compliant with a budget is crucial to having the financial health and life you want. Financial advisors in Oklahoma City, OK can help clients grasp your income level, identify areas for savings, and set realistic spending limits that promote growing your wealth. By providing tools and strategies for effective budgeting, advisors make sure that clients can fulfill their current financial obligations while also preparing for future goals.

When you hire a Oklahoma City, OK financial advisor at Correct Capital, we begin by getting to know you personally and your objectives. We will evaluate your current income, assets, investments, debts, and expenses. After 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 job is to act in your best interest. There is no limitation 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 Oklahoma City, OK?

Seeking the guidance of a financial advisor can be a vital step towards getting the life and financial health you want. While the right time can differ greatly 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 transitions, and many of them have substantial financial implications. Whether you're buying a home or facing retirement, these milestones can significantly affect how your money should be used and invested. A financial advisor can guide you through these changes, ensuring that your financial plan adapts to meet your new circumstances and goals.
• Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances Alone: Managing personal finances can be complex, time-consuming, and, frankly, daunting for many. If you lack the experience to successfully manage your investments, or simply choose to spend your time on other pursuits, a financial advisor can be crucial. They bring insight and perspective to your financial decisions, assisting to enhance your portfolio, prevent costly mistakes, and set up your investments for long-term growth.
• Nearing Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can aid you review your current financial situation, calculate your retirement needs, and devise a plan to ensure you can experience 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 plethora 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 knowledge can be essential. They can help you understand 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 essential whenever you hire someone to do something, but especially so when it involves your hard-earned money. Beyond just finding a reliable advisor, you need one who ideally suits your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:

• What is your experience in the financial advisory field?

  Understanding an advisor's experience, including their years in the industry, the kinds of clients they've collaborated with, and their expert areas, can provide you a sense of their proficiency and whether they're prepared to tackle your financial situation.

• What are your qualifications and certifications?

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

• What is your investment philosophy?

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

• How do you usually communicate with clients?

  Communication style and regularity are crucial to a productive client-advisor relationship. Inquire about how often you'll have meetings, whether they'll be face-to-face or virtual, and how the advisor expects to keep you informed about your investments and financial plan.

• How are you compensated for your services?

  Advisors can be fee-only, commission-based, or a mixture thereof. Grasping how an advisor is compensated will assist you in identifying potential conflicts of interest and make certain that their advice is made 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 ahead of their own, giving advice that best serves your financial goals and needs.

• What services do you offer beyond investment management?

  Many advisors provide comprehensive financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of client education and portfolio reviews. Understanding the full scope of services offered can 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 address them to ensure they don't negatively impact their clients' financial plans. Fiduciary advisors must make known conflicts of interest, and must manage them in their client's best interest.

Asking these questions will not only provide you with essential information about the financial advisor's qualifications and approach but also 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 Oklahoma City, OK?

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 financial products they offer, such as insurance policies. This fee structure can create a potential conflict of interest, as the advisor could be motivated to suggest options that generate higher commissions rather than those that are most suited to your financial goals. Commission-based advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to recommend products that can aid in achieving 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 hourly rates assets under management (AUM). This model is often seen 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 client-paid fees and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, fee-based 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 Oklahoma City, OK

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

One-Time Financial Plan (best for validators)

This service model is best for those who are looking for the insights and advice a financial advisor can offer without the continuous oversight. This service is great for individuals who largely feel good about managing their finances but desire professional validation to ensure they're on the right track. Our team conducts a thorough review of your current financial situation, 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 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 insights from our financial advisors, quarterly meetings, 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 save and grow your wealth.

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 portfolio management, comprehensive financial strategizing, and forward-looking guidance on a wide range of financial matters — from tax planning and retirement planning to estate planning and beyond. Our wealth management clients enjoy peace of mind, 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 financial goals.

Why Choose Correct Capital as Your Oklahoma City, OK Financial Advisor?

Correct Capital is a leading choice for individuals and families in Oklahoma City, OK 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 are 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 done with your best interests in mind.
• Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent 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.
• Professional Credentials: We are a Registered Investment Advisor (RIA), which allows us 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 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 stay ahead of 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.
• 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 ensures that you are well-equipped to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Oklahoma City, OK means partnering with a team dedicated to your financial success. Our expertise, fiduciary commitment, and personalized approach to financial planning and investment management make us the perfect choice for individuals and families seeking to achieve their financial goals and secure their future.

Other services we offer in Oklahoma City, OK include:

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

Call Correct Capital's Oklahoma City, OK Financial Advisor Team Today

The decisions you make about your finances and the decisions you make with it are inherently personal. At Correct Capital, we firmly believe in the relationship between a person, household, or business owner in Oklahoma City, OK and their financial advisor is founded on mutual trust. Committed to helping our clients achieve their financial and personal goals, whether it's sending your children to college or making the dream purchase of that dream car during your retirement years. Contact our Oklahoma City, OK 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.

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