Financial Advisor in Ontario, CA. You work hard for your money, and you want to be confident about how it's growing and how it's being used. Numerous Ontario residents lack the financial literacy to feel like they can handle their investments and finances by themselves, while others simply don't have the time or inclination to stay up to date on market trends along with new laws, rules, and different events happening around the world. That's when you should consider hiring a dependable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Ontario, CA will help your finances grow. We employ in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Ontario, 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.
Uncertain if you're ready to work with a financial advisor in Ontario, CA? Check out our process page to find out how straightforward we make it to find out if we would make a good team.
A 2018 study by FINRA reported that 53 percent of American adults are nervous about their finances. The cause of that apprehensiveness is often simply not being sure they're putting their money in the right places. Once our Ontario, CA financial advisor team gets to know you, your current financial situation and your financial aims, we'll build a road map to help you reach 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 suggest. Our financial advisors in Ontario, CA have certifications that can only be awarded through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who provides advice on managing personal finances and investments. This wide-ranging definition encompasses a wide range of services, from investment management and retirement planning to tax planning and estate planning. The primary goal of a financial advisor is to help individuals and organizations reach their financial objectives by creating strategies that align with their risk tolerance, financial situation, and long-term goals. While technically anyone can call themselves a financial advisor or financial planner, reliable and professional advisors will have qualifications from organizations such as FINRA and the CFP Board that can only be obtained through rigorous education and exams.
Types of Financial Advisors in Ontario, CA
There are multiple types of advisors that differ based on the services they provide, how they're paid, their areas of expertise, and their legal obligations to clients:
- Investment Advisors or Portfolio Managers: These advisors provide advice on securities and oversee investment portfolios. They're often associated with RIAs and are required to serve as fiduciaries, 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, depending on the size of the assets they manage.
- Broker-Dealers and Brokers: Broker-dealers buy and sell 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 usually members of FINRA. The financial products they can sell depend on their specific licenses, such as Series 6 or Series 7. For example, an advisor who holds a Series 7 license is qualified to sell general securities, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors holding the CFP certification have undergone extensive education and uphold high ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs provide a wide array of financial planning services, such as managing debt to planning for retirement, and tax optimization strategies. Their methodology is all-encompassing, intended to address all aspects of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have undergone training similar to CERTIFIED FINANCIAL PLANNER™ Professionals and are also bound by a fiduciary duty. Like CFPs, ChFCs focus on offering holistic financial advice, covering areas such as estate planning to retirement strategies, guaranteeing that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on boosting clients' financial literacy, guiding with fundamentals such as saving money and budgeting. They are suited for clients who don't have the financial resources to hire a financial advisor yet. This type of guidance offers a solid foundation for handling personal finances wisely, particularly for those in the early stages of financial planning.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering comprehensive services that include estate planning, tax help, and investment management. They collaborate intimately with their clients to navigate complex financial situations and develop wealth preservation strategies. Their expertise is focused on maximizing the financial health and future of affluent clients, guaranteeing that their clients' goals and aspirations are met through customized advice and solutions.
Each type of financial advisor offers 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, ensuring 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 look over your extant finances, pinpoint methods to improve it, and help you achieve your future financial goals. Many Ontario, CA residents often immediately think of investing when they hear wealth management services and financial advisors. While that is a crucial facet of any financial plan, a certified financial advisor will be able to provide you with overarching financial advice that takes into consideration the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Ontario, CA will use in order to help you meet your goals.
- Financial Planning
Our money is integral to almost anything we do, from making sure we're set up in retirement, to education, buying and/or selling a home, deciding on insurance policies, and making sure we have enough to eat every night. The best financial advisors in Ontario, CA offer all-encompassing services and personalized consulting by evaluating your entire financial situation.
- Tax Planning
Tax considerations play a role in nearly every financial transaction and transfer. 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 incredibly complicated, yet it offers perfectly legal means to lower your taxes. A skilled and ethical Ontario, CA financial advisor will guide you through your tax implications with the aim of keeping more money in your hands than in Uncle Sam's.
- 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 Ontario, CA will assist in allocating and diversify your assets in order to mitigate risk and best position your money for long-term growth.
- 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 Ontario, CA financial advisor will help with tax implications, considering the optimal time to retire, when to withdraw money and how much to withdraw. A financial advisor will assist in formulating a budget and plan for source of income in retirement so you can enjoy your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Ontario, CA businesses and business owners. Introducing a 401(k) plan is a superb way to keep 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 Ontario, CA financial advisor team offers thorough 401(k) planning for companies as well as personalized benefits for their employees.
- 401(k) Rollover
When moving to a new job, it can be challenging to know the best way to handle the money you've accumulated in a previous Ontario, CA employer's 401(k) plan. You have multiple options, such as 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 variety of IRA accounts. A financial advisor will be skilled in how to best manage managing your 401(k) funds.
- Generational Wealth Transfers
You earn your money, and it's common to desire to leave a legacy and leave some wealth to the people you care about the dearly. Wealth transfers are distinct from just leaving gifts behind in estate planning. A financial advisor in Ontario, 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 crucial to pick one who has accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Ontario, 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 consolidating debt, securing lower interest rates where possible, and structuring repayments. The goal is to create a practical path forward that matches your financial capabilities and goals, eventually 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 Ontario, CA can help clients understand your income level, find areas for savings, and set realistic spending limits that promote wealth accumulation. By providing resources and strategies for effective budgeting, advisors guarantee that clients can satisfy their current financial obligations while also planning for future goals.
When you hire a Ontario, CA financial advisor at Correct Capital, we start by getting to know you personally and your aims. We will evaluate your current income, assets, investments, debts, and expenses. Then we've accomplished that, we'll work 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 propose, 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 Ontario, CA?
Seeking the assistance 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 long line of transitions, and many of them have major 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 guide you through these changes, ensuring that your financial plan evolves to meet your new circumstances and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complex, demanding, and, frankly, overwhelming for many. If you aren't confident to successfully handle your investments, or simply prefer to spend your time elsewhere, a financial advisor can be crucial. They bring insight and wisdom to your financial decisions, aiding 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 review your current financial situation, calculate your retirement needs, and formulate a plan to ensure you can live comfortably during your retirement years with peace of mind. This includes strategies for Social Security benefits, pension management, and withdrawal plans from retirement accounts.
- Complex Financial Products: The financial market offers a plethora 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 expertise can be crucial. They can assist you grasp 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 particularly so when it comes to your finances. Beyond just finding a trustworthy advisor, you need one who perfectly matches your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's track record, including their years in the industry, the kinds of clients they've collaborated with, and their areas of expertise, can give you a sense of their proficiency and whether they're prepared to manage your specific financial circumstances.
- What are your qualifications and certifications?
Ask about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require meeting demanding education, experience, and ethical standards, demonstrating a high level of professionalism 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 conservative approach with a focus on long-term growth or a more aggressive strategy, their philosophy should resonate with your expectations and expectations.
- How do you prefer to communicate with clients?
Communication style and regularity are crucial to a successful client-advisor relationship. Ask 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 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 mixture thereof. Understanding 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.
- Are you a fiduciary financial advisor?
Confirming that an advisor acts as a fiduciary is crucial. This means they are bound by law to put your interests before their own, offering 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. 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 disclose conflicts of interest, and are required to manage them in their client's best interest.
Asking these questions will not only provide you with essential information about the financial advisor's qualifications and approach but also 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 Ontario, CA?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions make their earnings through commissions on the financial products they offer, such as mutual funds. 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 best meet your needs. Commission-based advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to advise on products that can help you achieve your goals, but not necessarily the ones most appropriate to your needs.
- 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 various shapes, including a percentage of the assets under management (AUM). This model is frequently regarded as more transparent and in line 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 although they get commission from certain products, they must reveal this 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 Ontario, CA
Correct Capital stands out in the Ontario, CA financial advisory landscape for its customized approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or the same goals, we offer three different service models to our clients in Ontario, 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 continuous oversight. This service is excellent for individuals who largely feel good about managing their finances but desire 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 growth opportunities.
Subscription (best for collaborators)
Our subscription service is designed for people who appreciate consistent guidance and advice as their financial situation changes, or when they have specific questions about something related to their finances. This model offers monthly insights from our financial advisors, quarterly meetings, and open availability if the need ever arises. While we won't be managing your portfolio, we'll strive to look for opportunities to help you grow and save 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 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 peace of mind, knowing that every aspect of their financial well-being is being carefully managed by a dedicated team of professionals committed to maximizing their wealth and achieving their long-term goals.
Why Choose Correct Capital as Your Ontario, CA Financial Advisor?
Correct Capital is a premier choice for individuals and families in Ontario, CA looking for reliable, expert financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:
- We are Fiduciary Advisors: As fiduciaries, Correct Capital are legally obligated to put your interests first. This commitment guarantees that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is done in a way that aligns most closely with your goals.
- Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Being independent means we are not tied to any specific financial institution or product, enabling us the freedom to choose 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 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.
- 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: Correct Capital offers 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 Ontario, CA means joining forces 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 looking to achieve their financial goals and safeguard their future.
Other services we offer in Ontario, CA include:
Call Correct Capital's Ontario, CA Financial Advisor Team Today
The decisions you make about your finances and the choices you make with it are inherently personal. At Correct Capital, we firmly believe in the relationship between a person, family, or business owner in Ontario, CA and their financial advisor is founded on trust. Committed to guiding our clients realize their financial and personal goals, whether it's funding higher education for your children or making the dream purchase of that dream car during your retirement years. Reach out to our Ontario, 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.
