Financial Advisor in Overland Park, KS

Financial Advisor in Overland Park, KS. You work hard for your money, and you want to be secure about how it's growing and how it's being used. A lot of Overland Park residents do not have the financial literacy to feel confident they're making the best decisions with their money, while others simply don't have the time or inclination to stay up to date on financial markets along with new laws, rules, and global events. That's when you should consider hiring a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Overland Park, KS will make your money work for you. We employ in-depth research along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Overland Park, KS and beyond. Reach out to us 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 Overland Park, KS? Take a look at 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 reported that 53 percent of American adults are nervous about their finances. A source of that apprehensiveness is commonly just not being sure they're putting their money in the right places. Once our Overland Park, KS financial advisor team gets to know you, your present financial situation and your financial aims, we'll build a road map to help you accomplish them. As a fiduciary and an independent firm, your Correct Capital financial advisor is obligated to act in your best interest and we are not limited in the solutions we can suggest. Our financial advisors in Overland Park, KS 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 helps individuals manage their money, budget, put enough money away, and plan for their financial future. This wide-ranging definition encompasses a wide range of services, from investment 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, trustworthy and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that denote their experience and education.

Types of Financial Advisors in Overland Park, KS

Financial advisors can work and market themselves under different titles:

• Investment Advisors or Portfolio Managers: These advisors offer advice on securities and manage investment portfolios. They often work in RIAs and are required to act in a fiduciary capacity, prioritizing their clients' interests above their own. Investment advisors are registered with either the Securities and Exchange Commission (SEC) or state regulators, depending on the assets under management.
• Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds for 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 individual 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 certification have undergone extensive training and uphold high ethical standards, particularly a fiduciary duty to their customers. CFPs provide a wide array of financial advisory services, such as managing debt to retirement planning, and estate planning. This approach is holistic, aiming 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 education similar to CFPs and are also bound by a fiduciary duty. Like CFPs, ChFCs specialize in offering holistic financial advice, covering areas such as estate planning to retirement strategies, guaranteeing that clients' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Focus on enhancing clients' financial literacy, guiding with basics such as saving money and budgeting. They are suited for clients who are not yet wealthy enough to work with most financial advisors. This type of guidance provides a strong basis for handling personal finances efficiently, particularly for those just starting out.
• Wealth Managers: Serve high-net-worth individuals, offering extensive services that include estate planning, tax help, and investment management. They partner closely with their clients to manage complex financial situations and develop wealth preservation strategies. Their expertise is focused on maximizing the financial health and legacy of affluent clients, making sure that all investments and planning strategies meet tailored 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 embody the highest standards of fiduciary responsibility and personalized service, making sure that we act only 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 present finances, pinpoint methods to enhance it, and help you realize your future financial goals. A lot of Overland Park, KS residents commonly immediately think of investing when they think of wealth management services and financial advisors. While that is a central element of any financial plan, a professional financial advisor will be able to give you overarching financial advice that considers the whole of your finances. Below are some of the services your Correct Capital financial advisor in Overland Park, KS will use to help you realize your objectives.

• Financial Planning

  Our money is involved in almost anything we do, from making sure we're set up in retirement, to education, real estate deals, deciding on insurance policies, and making sure we have enough to eat every night. The best financial advisors in Overland Park, KS offer holistic 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, more than 70 percent of Americans pay more than necessary in taxes every year. The United States tax code is notoriously complex, yet it provides perfectly legal means to reduce your tax liability. A skilled and ethical Overland Park, KS financial advisor will guide you through your tax implications to ensure 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 alternative assets such as art. A financial advisor in Overland Park, KS will assist in allocating and diversify your assets to mitigate risk and optimally position your money for long-term success.

• Retirement Planning

  Depending on where you currently are in life and the kind of life you want to live when you hang up your cape, your Overland Park, KS financial advisor will assist with tax implications, considering the best age to retire, when to make withdrawals 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 live out your golden years exactly the way you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Overland Park, KS businesses and business owners. Introducing a 401(k) plan is a fantastic way to retain your best employees and keep them motivated and happy. Our retirement consultants oversee over $218 million in plan assets and numerous of plan participants nationwide. Our Overland Park, KS financial advisor team offers thorough 401(k) planning for companies as well as customized 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 Overland Park, KS 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 know how to best approach handling your 401(k) funds.

• Generational Wealth Transfers

  You earn your money, and it's natural to want to leave a legacy and leave some wealth behind the people you care about the dearly. Wealth transfers are different from just leaving gifts behind in estate planning. A financial advisor in Overland Park, KS can optimize your money for both your children but for generations to come, even ones you haven't met yet.

• Fiduciary Advising

  Anyone can call themselves a "financial advisor," so it's important to choose one who has accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Overland Park, KS financial advisor at Correct Capital is bound by 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 workable path forward that suits your financial situation and goals, ultimately leading to financial freedom.

• Budgeting

  Creating and staying compliant with a budget is crucial to achieving financial health and goals. Financial advisors in Overland Park, KS can assist clients comprehend your income level, spot areas for savings, and set realistic spending limits that facilitate wealth accumulation. By providing tools and strategies for efficient budgeting, advisors guarantee that clients can satisfy their current financial obligations while also planning for future goals.

When you hire a Overland Park, KS financial advisor at Correct Capital, we start by getting to know you and your goals. We will assess your current income, assets, investments, debts, and expenses. Then we've done that, we'll work in concert with you to ascertain your preferred risk tolerance and how we can best help you meet your goals. 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 propose, 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 Overland Park, KS?

Seeking the advice of a financial advisor can be a vital step towards achieving financial well-being, peace of mind, and wealth. 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 long line of transitions, and many of them have major financial implications. Whether you're buying a home or changing careers, 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 Desire to Manage Your Finances Alone: Managing personal finances can be complicated, time-consuming, and, frankly, daunting for many. If you don't have the knowledge to effectively manage your investments, or simply choose to focus your energy elsewhere, a financial advisor can be crucial. They bring insight and perspective to your financial decisions, aiding to enhance your portfolio, avoid costly mistakes, and set up your investments for future success.
• Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can help you evaluate your current financial situation, estimate your retirement needs, and formulate a plan to ensure you can experience your retirement years with peace of mind. 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 essential. They can help 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 essential whenever you hire someone to do something, but particularly so when it comes to your finances. In addition to 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 track record, including their years in the industry, the types of clients they've assisted, and their areas of expertise, can give you a sense of their proficiency and whether they're well-suited to tackle your specific financial circumstances.

• 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 rigorous educational, experience, and ethical standards, signifying 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 cautious 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 method and frequency are vital to a successful client-advisor relationship. Ask about how often you'll have meetings, whether they'll be in person or online, 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 enable you to discern potential biases and make certain that their recommendations are offered with your best interests in mind.

• Do you have a fiduciary duty to your clients?

  Confirming that an advisor is a fiduciary is vital. This means they are bound by law 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 enable you to assess whether the advisor can meet all your financial needs.

• How do you handle conflicts of interest?

  An honest advisor will transparently share potential conflicts of interest and how they deal with them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must make known conflicts of interest, and are required to manage them in their client's best interest.

Asking these questions will not only offer 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 Overland Park, KS?

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 create 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 advise on products that can help you achieve your goals, but not necessarily the ones best suited to your needs.
2. Fee-Only: Advisors on a fee-only basis are compensated directly by their 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 often seen as more clear and in line with the client's best interests, as it reduces 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 blend of the fee-only and commission-based structures, fee-based advisors generally also have a fiduciary duty, which means that even if 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 Overland Park, KS

Correct Capital is distinguished in the Overland Park, KS 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 Overland Park, KS:

One-Time Financial Plan (best for validators)

This service model is ideal for those who are seeking the guidance and recommendations a financial advisor can offer without the ongoing management. This service is excellent for individuals who are generally confident in managing their finances but seek professional insight to ensure they're doing things the right way. Our team performs a thorough review of your current financial situation, supplying you with a detailed plan that tackles your specific goals, concerns, and opportunities for growth.

Subscription (best for collaborators)

Our subscription service is designed for people who appreciate 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, regular check-ins every quarter, and open availability if the need ever arises. While we won't manage your investments for you, 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 proactive advice on a wide range of financial matters — from tax strategies 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 dedicated to maximizing their wealth and realizing their long-term goals.

Why Choose Correct Capital as Your Overland Park, KS Financial Advisor?

Correct Capital is a premier choice for individuals and families in Overland Park, KS seeking reliable, expert financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:

• We are Fiduciary Advisors: As fiduciaries, we are legally obligated to put your interests first. This commitment guarantees that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is carried out in a way that aligns most closely with your goals.
• Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent signifies we are not tied to any 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 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.
• Proactivity is Our Approach: Our advisors believe that the most valuable way to create long-term financial security is to anticipate trends and lead, rather than follow. Leveraging in-depth research and analytics, our aim is to craft the most appropriate strategy for your needs.
• Continuous Learning Opportunities: Correct Capital offers quarterly webinars and workshops aimed at keeping you up-to-date and engaged with your financial health. Our commitment to client education ensures that you are fully prepared to make informed decisions together with your advisor.

Choosing Correct Capital as your financial advisor in Overland Park, KS means partnering with a team committed to your financial success. Our expertise, fiduciary commitment, and personalized approach to financial planning and investment management make us the ideal partner for individuals and families seeking to achieve their financial goals and secure their future.

Other services we offer in Overland Park, KS include:

• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor
• Small Business Retirement Plans

Call Correct Capital's Overland Park, KS Financial Advisor Team Today

The decisions you make about your finances and the choices you make with it are deeply personal. At Correct Capital, we firmly believe in the relationship between a person, household, or business owner in Overland Park, KS and their financial advisor is based on trust. Dedicating our lives to guiding our clients realize their financial and personal goals, be it funding higher education for your children or making the dream purchase of that dream car during your retirement years. Reach out to our Overland Park, KS financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards growing your wealth in the manner you desire.

---