Financial Advisor in Orlando, FL

Financial Advisor in Orlando, FL. You work hard for your money, and you want to be assured about how it's being managed and how it's being used. Numerous Orlando residents lack the financial literacy to feel sure they're making the best decisions with their money, while others simply don't have the time or interest to stay informed on financial markets along with new laws, rules, and different events happening around the world. That's when you should consider hiring a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Orlando, FL will help your finances grow. We utilize in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Orlando, FL and beyond. Reach out to us today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.

Uncertain if you're ready to hire a financial advisor in Orlando, FL? Check out our process page to see how easy we make it to determine if we would make a good team.

A 2018 study by FINRA revealed that 53 percent of American adults are anxious about their finances. The root of that concern is commonly just not being sure they're managing their money correctly. Once our Orlando, FL financial advisor team gets to know you, your extant financial situation and your financial ambitions, we'll build a road map to help you realize them. As a fiduciary and an independent firm, your Correct Capital financial advisor is legally and ethically compelled to act in your best interest and we are not limited in the solutions we can recommend. Our financial advisors in Orlando, FL have certifications that can only be gained through exhaustive testing and by meeting stringent education requirements.

What Is a Financial Advisor?

A financial advisor is a specialist who assists individuals manage their money, budget, save, and plan for their financial future. This broad definition includes a wide range of services, from portfolio management and retirement planning to tax planning and generational wealth transfers. 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 accreditations from regulatory bodies such as FINRA and the CFP Board that indicate their experience and education.

Types of Financial Advisors in Orlando, FL

There are various types of advisors that differ based on the services they provide, how they're paid, their professional expertise, and their legal obligations to clients:

• 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, prioritizing their clients' interests above their own. 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 their own accounts. They must be registered by 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 example, an advisor who holds a Series 7 license represents general securities, including mutual funds and exchange-traded funds (ETFs).
• CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors holding the CFP designation have completed rigorous training and adhere to the highest ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs offer a vast spectrum of financial planning services, such as managing debt to planning for retirement, and estate planning. Their methodology is holistic, designed to satisfy all aspects of a client's financial life.
• Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed education comparable with CFPs and are also bound by a fiduciary duty. Like CFPs, ChFCs focus on offering comprehensive financial advice, covering everything from estate planning to tax advice, guaranteeing that clients' financial goals are met with the highest ethical standards.
• Financial Coaches: Are dedicated to enhancing clients' financial literacy, guiding with basics such as saving money and budgeting. They are perfect for clients who don't have the financial resources to hire a financial advisor just yet. Their services provides a solid foundation for managing personal finances effectively, especially for those in the early stages of financial planning.
• Wealth Managers: Help high-net-worth individuals, offering comprehensive services that encompass estate planning, tax help, and investment management. They collaborate intimately with their clients to handle complex financial situations and formulate wealth preservation strategies. Their expertise is tailored for optimizing the financial health and legacy of wealthy individuals, guaranteeing that their clients' goals and aspirations are met through customized advice and solutions.

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 exclusively in the best interest of our clients in all of our advice and dealings.

What Does a Financial Advisor Do?

A financial advisor will asses your extant financial situation, pinpoint methods to improve it, and help you accomplish your future financial goals. Many Orlando, FL residents commonly immediately think of investing when they consider wealth management services and financial advisors. While that is a essential aspect of any financial plan, a qualified financial advisor will be able to give you holistic financial advice that takes into account the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Orlando, FL will implement to help you reach your goals.

• Financial Planning

  Our finances are involved in almost everything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a home, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Orlando, FL offer all-encompassing services and personalized guidance by evaluating your entire financial situation.

• Tax Planning

  Tax considerations play a role in almost every financial transaction and transfer. According to the IRS's own data, more than 70 percent of Americans pay more than necessary in taxes each year. The United States tax code is notoriously complex, yet it allows for perfectly legal ways to minimize taxes owed. A professional and trustworthy Orlando, FL 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 collection of your financial assets. They can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as art. A financial advisor in Orlando, FL will help in allocating and diversify your assets to mitigate risk and best 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 hang up your cape, your Orlando, FL financial advisor will assist with tax implications, considering the optimal time to retire, when to withdraw money and how much to take out. A financial advisor will help you formulate a budget and strategy for source of income in retirement so you can spend your golden years just how you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Orlando, FL businesses and business owners. Setting up a 401(k) plan is a superb way to keep your best employees and keep them satisfied and happy. Our retirement consultants oversee over $218 million in plan assets and numerous of plan participants nationwide. Our Orlando, FL financial advisor team offers comprehensive 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 Orlando, FL employer's 401(k) plan. You have multiple options, including 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 know how to best approach managing your 401(k) funds.

• Generational Wealth Transfers

  You strive for your money, and it's normal to want to leave a legacy and leave 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 Orlando, FL can strategically plan your money for not only 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 necessary to choose one who has obtained accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Orlando, FL financial advisor at Correct Capital must observe a "Code of Ethics and Standards of Conduct" to:

1. Act with honesty, integrity, competence, and diligence.
2. Act in the client's best interest.
3. Exercise due care.
4. Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
5. Maintain confidentiality and protect the privacy of client information.
6. Act in a manner that reflects positively on the financial planning profession and CFP® certification.
• Debt Management

  Financial advisors offer tailored debt management plans that focus on managing debt, achieving lower interest rates if feasible, and prioritizing repayments. The goal is to create a practical path forward that matches your financial situation and goals, eventually leading to financial freedom.

• Budgeting

  Creating and sticking to a budget is crucial to having the financial health and life you want. Financial advisors in Orlando, FL can help clients comprehend their cash flow, spot areas to spend less, and set realistic spending limits that promote growing your wealth. By providing resources and strategies for effective budgeting, advisors make sure that clients can meet their current financial obligations while also saving for future goals.

When you hire a Orlando, FL financial advisor at Correct Capital, we start by getting to know you and your goals. We will analyze your current income, assets, investments, debts, and expenses. Once we've accomplished that, we'll work in tandem 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 responsibility is to act in your best interest. There is no limitation to the services, products, and investment opportunities our financial advisor team can put forward, 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 Orlando, FL?

Seeking the guidance of a financial advisor can be a vital step towards achieving financial well-being, peace of mind, and wealth. While the right time can vary widely from person to person, certain life events and circumstances often signal the need for expert financial advice.

• Major Life Changes: Life is a series of changes, and many of them have substantial financial implications. Whether you're buying a home or changing careers, these milestones can dramatically affect how your money should be used and invested. A financial advisor can guide you navigate 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 effectively manage your investments, or simply choose to spend your time elsewhere, a financial advisor can be essential. They bring expertise and objectivity to your financial decisions, helping to enhance your portfolio, prevent costly mistakes, and set up your investments for sustainable growth.
• Nearing Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can assist you assess your current financial situation, determine your retirement needs, and craft a plan to ensure you can live comfortably during your retirement years comfortably. This includes strategies for Social Security benefits, pension management, and distribution strategies 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 insight can be crucial. 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 paramount when you're hiring someone for any service, but particularly so when it involves your hard-earned money. In addition to finding a reliable advisor, you need one who best meets 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 background, including their time spent in the industry, the varieties of clients they've assisted, and their areas of expertise, can provide you a sense of their expertise and whether they're well-suited to tackle your financial needs.

• What are your qualifications and certifications?

  Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require meeting demanding educational, experience, and ethical standards, signifying 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 conservative approach with a focus on long-term growth or a more dynamic strategy, their philosophy should resonate with your aspirations and expectations.

• How do you prefer to communicate with clients?

  Communication style and frequency are essential to a successful client-advisor relationship. Ask about how often you'll have meetings, whether they'll be face-to-face or online, and how the advisor plans 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 combination thereof. Grasping how an advisor is compensated will help you identify potential biases and make certain that their advice is offered with your best interests in mind.

• Do you have a fiduciary duty to your clients?

  Confirming that an advisor serves as a fiduciary is crucial. This means they are legally obligated to put your interests ahead of their own, giving advice that optimally benefits your financial goals and needs.

• What services do you offer beyond investment management?

  Many advisors provide extensive financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of client education and portfolio reviews. Grasping the full scope of services offered can assist you in determining 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 deal with them to ensure they don't negatively impact 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 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 Orlando, FL?

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 other financial products. This fee structure can lead to a potential conflict of interest, as the advisor might be incentivized to suggest options 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 recommend products that can aid in achieving your goals, but not necessarily the ones best suited to your needs.
2. Fee-Only: Fee-only advisors are compensated straightforwardly by clients for the guidance and assistance they provide and do not receive any commissions from product sales. This compensation can take various shapes, including hourly rates assets under management (AUM). This model is frequently regarded as more transparent 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 fees paid by the client and commissions from selling financial products. While this model offers a mix of the fee-only and commission-based structures, such advisors typically also have a fiduciary duty, which means that even if 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 Orlando, FL

Correct Capital stands out in the Orlando, FL financial advisory landscape for its bespoke 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 Orlando, FL:

One-Time Financial Plan (best for validators)

This service model is best for those who are seeking the guidance and recommendations a financial advisor can offer without the ongoing management. This service is great for individuals who are largely confident in managing their finances but seek professional validation to confirm they're setting their money up for success in the best way. Our team conducts a thorough review of your financial landscape, supplying you with a detailed plan that addresses your specific goals, concerns, and growth opportunities.

Subscription (best for collaborators)

Our subscription service caters to individuals who appreciate ongoing 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, regular check-ins every quarter, and availability on an as-needed basis. While we will not manage your investments for you, we'll work 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 prefer to delegate the management of their investments and financial planning to professionals. This includes active portfolio management, strategic financial planning, and forward-looking guidance on a wide range of financial matters — from tax planning and preparing for retirement 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 achieving their financial goals.

Why Choose Correct Capital as Your Orlando, FL Financial Advisor?

Correct Capital is a leading choice for individuals and families in Orlando, FL seeking 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 put your interests first. This commitment ensures 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 signifies we aren't tied to any financial institution or product, allowing us the freedom to select the best investments and strategies for you.
• Professional Credentials: 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. Additionally, our retirement consultants and financial portfolio managers have over 100 years of combined experience.
• We Are Proactive: We hold the belief that the most valuable way to create long-term financial security is to stay ahead of trends and lead, rather than follow. Leveraging 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 commitment to client education guarantees that you are fully prepared to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Orlando, FL means joining forces with a team dedicated to your financial success. Our expertise, fiduciary commitment, and custom-tailored 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 Orlando, FL include:

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

Call Correct Capital's Orlando, FL Financial Advisor Team Today

Your money and the choices you make with it are deeply personal. At Correct Capital, we firmly believe that the relationship between an individual, household, or business owner in Orlando, FL and their financial advisor is based on trust. Committed to helping our clients achieve their financial and personal goals, whether it's funding higher education for your children or making the dream purchase of that dream car in retirement. Reach out to our Orlando, FL financial advisor team today at 877-930-4015 or get in touch with us online to begin building your wealth how you've always wanted.

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