Financial Advisor in Orlando, FL. Your hard-earned money deserves attention, and you want to be confident about how it's being managed and how it's being used. A lot of Orlando residents do not have the financial literacy to feel confident they're making the right decisions with their money, while others simply don't have the time or inclination to stay up to date on market trends along with new laws, regulations, and different events happening around the world. That's when you need a dependable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Orlando, FL will help your finances grow. We employ in-depth research along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Orlando, FL and beyond. Speak to a team member today at 877-930-4015 or contact us online to learn how Correct Capital can help you.
Not sure if you're ready to hire a financial advisor in Orlando, FL? Explore our process page to find out how straightforward we make it to find out if you're a good fit.
A 2018 study by FINRA found that 53 percent of American adults are nervous about their finances. A source 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 finances and your financial goals, we'll create 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 endorse. Our financial advisors in Orlando, FL have certifications that can only be obtained through rigorous testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who helps individuals manage their money, budget, put enough money away, and plan for their financial future. This broad definition covers a variety of services, from investment management and retirement planning to tax planning and estate planning. Financial advisors take a thorough view of your financial situation to advise on strategies that align with your goals, risk tolerance, and time horizon. While technically anyone can call themselves a financial advisor or financial planner, credible and professional advisors will have qualifications from regulatory bodies such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.
Types of Financial Advisors in Orlando, FL
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 professionals offer advice on securities and manage investment portfolios. They often work in RIAs and are required to act in a fiduciary capacity, putting their clients' interests above their own. Portfolio managers are certified with either the Securities and Exchange Commission (SEC) or state regulators, depending on the amount of investments they manage.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds for their clients or for themselves. They must be registered by 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 instance, an individual 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 with the CFP certification have completed rigorous training and adhere to high ethical standards, including a fiduciary duty to their clients. CFPs offer a vast spectrum of financial advisory services, ranging from managing debt to planning for retirement, and tax optimization strategies. This approach is all-encompassing, intended to meet 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 CFPs and are also bound by a fiduciary duty. Like CFPs, ChFCs focus on providing comprehensive financial advice, encompassing everything from investment management to retirement strategies, ensuring that clients' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on enhancing clients' financial literacy, helping with basics such as saving money and creating budgets. They are suited for clients who might not have the wealth to hire a financial advisor yet. Their services delivers a strong basis for managing personal finances effectively, particularly for those looking to take the first step towards financial wellbeing.
- Wealth Managers: Cater to high-net-worth individuals, offering a broad array of services that encompass estate planning, tax assistance, and investment management. They partner closely with their clients to handle complex financial situations and implement wealth preservation strategies. This expertise is focused on optimizing the financial health and legacy of those with substantial assets, making sure that all investments and planning strategies meet personalized advice and strategies.
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 team of advisors boasts CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, guaranteeing 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 financial situation, determine means to improve it, and help you accomplish your future financial goals. Many Orlando, FL residents often immediately think of investing when they hear wealth management services and financial advisors. While that is a key part of any financial plan, a professional financial advisor will be able to provide you with 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 in order to help you accomplish your objectives.
- Financial Planning
Our money is a part of almost everything we do, from making sure we're prepared for retirement, to paying for college, buying and/or selling a house, deciding on insurance policies, and making sure we have enough to eat every night. The best financial advisors in Orlando, FL offer comprehensive services and tailored guidance by evaluating 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, over 7 out of 10 of Americans overpay in taxes each year. The United States tax code is notoriously complex, yet it provides perfectly legal means to lower your taxes. A reliable and expert Orlando, FL financial advisor will guide you through your tax implications in the interest of keeping more money in your own account.
- Portfolio Management and Asset Management
Your financial portfolio is the aggregation 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 Orlando, FL will assist 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 retire, your Orlando, FL financial advisor will assist with tax implications, evaluating 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 plan 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 Orlando, FL businesses and business owners. Introducing a 401(k) plan is a great way to keep your best employees and keep them motivated and happy. Our retirement consultants manage 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 difficult to know the best way to deal with the money you've already saved in a previous Orlando, FL 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 investing the money in one of a selection of IRA accounts. A financial advisor will know how to best approach handling your 401(k) funds.
- Generational Wealth Transfers
You earn your money, and it's common to desire to leave a legacy and pass on some wealth behind the people you care about the most. Wealth transfers are distinct from merely leaving gifts behind in estate planning. A financial advisor in Orlando, FL 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 give themselves the title of "financial advisor," so it's important to choose one who has 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 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 customized debt management plans that focus on managing debt, securing lower interest rates where possible, and structuring repayments. The goal is to create a manageable path forward that suits your financial situation and goals, eventually leading to stability.
- Budgeting
Creating and staying compliant with a budget is fundamental to having the financial health and life you want. Financial advisors in Orlando, FL can assist clients comprehend your income level, find areas to spend less, and set realistic spending limits that promote wealth accumulation. By providing tools and strategies for efficient budgeting, advisors make sure that clients can satisfy their current financial obligations while also preparing for future goals.
When you hire a Orlando, FL financial advisor at Correct Capital, we begin by getting to know you personally and your aims. We will evaluate your current income, assets, investments, debts, and expenses. Then we've done that, we'll work with you to establish your preferred risk tolerance and how we can best help you grow your money. 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 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 Orlando, FL?
Seeking the guidance of a financial advisor can be a critical step towards getting the life and financial prosperity you want. While the ideal moment can vary widely 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 starting a family or changing careers, these milestones can significantly affect your financial landscape. A financial advisor can guide you navigate these changes, ensuring that your financial plan evolves to meet your new situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: Managing personal finances can be complicated, demanding, and, frankly, overwhelming for many. If you lack the experience to effectively handle your investments, or simply prefer to spend your time elsewhere, a financial advisor can be crucial. They bring expertise and objectivity to your financial decisions, helping to improve your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
- Getting Close to Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can assist you review your current financial situation, calculate 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 myriad 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 crucial. They can assist you grasp the risks and benefits, ensuring that any investment matches your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is essential when you're hiring someone for any service, but especially so when it involves your finances. Beyond just finding a dependable 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 experience, including their years in the industry, the types of clients they've worked with, and their specializations, can give you a sense of their skills and whether they're prepared to tackle your financial situation.
- What are your qualifications and certifications?
Inquire about any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require fulfilling demanding educational, experience, and ethical standards, demonstrating a high level of professionalism and expertise.
- What is 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 dynamic strategy, their philosophy should reflect your expectations and expectations.
- How do you prefer to communicate with clients?
Communication style and frequency are crucial to a fruitful client-advisor relationship. Discuss how often you'll be able to meet with your advisor, whether they'll be face-to-face or virtual, and how the advisor intends to keep you updated 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 fee-only, commission-based, or a mixture thereof. Grasping how an advisor is compensated will enable you to discern potential biases and ensure that their recommendations are 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, 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 comprehensive financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of educational resources and portfolio reviews. Knowing 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 openly discuss potential conflicts of interest and how they deal with them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must disclose 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 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 Orlando, FL?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions earn their income through commissions on the products they sell, such as other financial products. This fee structure can lead to a possible conflict, as the advisor might be incentivized to recommend options that generate higher commissions rather than those that are most suited to your financial goals. These advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to recommend products that can help you achieve your goals, but not necessarily the ones best suited to your needs.
- Fee-Only: Fee-only advisors are compensated 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 frequently regarded as more clear 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 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 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 the same 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 desire professional validation 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 opportunities for growth.
Subscription (best for collaborators)
Our subscription service caters to individuals who value consistent guidance and advice as their financial situation evolves, or when they have specific questions about something related to their finances. This model offers monthly updates from our financial advisors, quarterly meetings, and availability on an as-needed basis. While we won't 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 choose to hand over the management of their investments and financial planning to professionals. This includes active investment management, strategic financial planning, and proactive advice on a wide range of financial matters — from tax planning and retirement planning to estate planning and beyond. Our wealth management clients enjoy a sense of security, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals dedicated to maximizing their wealth and realizing their financial goals.
Why Choose Correct Capital as Your Orlando, FL Financial Advisor?
Correct Capital is a premier choice for individuals and families in Orlando, FL 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, we is legally obligated to act in your best interests. This commitment ensures that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is carried out 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 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 a couple of 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, our aim is to craft the most appropriate strategy for your needs.
- Continuous Learning Opportunities: We offer at Correct Capital 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 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 experience, 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 Orlando, FL include:
Call Correct Capital's Orlando, FL Financial Advisor Team Today
Your money and the decisions you make with it are deeply personal. At Correct Capital, we strongly believe that the relationship between an individual, household, or business owner in Orlando, FL and their financial advisor is based on trust. Dedicating our lives to guiding our clients realize their personal and financial 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 Orlando, FL financial advisor team today at 877-930-4015 or start a conversation with us online to take the first step towards growing your wealth in the manner you desire.
