Financial Advisor in Pasadena, TX. Your hard-earned money deserves attention, and you want to feel secure about how it's being managed and how it's being used. Numerous Pasadena residents lack the financial literacy to feel confident they're making the optimal 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 need a dependable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Pasadena, TX will make your money work for you. We use in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Pasadena, TX and beyond. Call us today at 877-930-4015 or contact us through our website to learn how Correct Capital can help you.
Not sure if you're ready to work with a financial advisor in Pasadena, TX? Take a look at our process page to discover how straightforward we make it to ascertain if we would make a good team.
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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.
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A 2018 study by FINRA revealed that 53 percent of American adults are nervous about their finances. The root of that apprehensiveness is often just not being sure they're putting their money in the right places. Once our Pasadena, TX financial advisor team gets to know you, your finances and your financial goals, we'll implement a road map to help you realize them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically bound to act in your best interest and we are not limited in the plans we can put forward. Our financial advisors in Pasadena, TX have certifications that can only be obtained through exhaustive testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who helps individuals oversee their money, plan their finances, save, and plan for their financial future. This broad definition encompasses a wide range of services, from investment management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a comprehensive 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 accreditations 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 Pasadena, TX
There are several types of advisors that differ based on the services they offer, how they're paid, their areas of expertise, and their legal obligations to customers:
- Investment Advisors or Portfolio Managers: These advisors provide advice on securities and oversee 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 certified with either the Securities and Exchange Commission (SEC) or state regulators, based on the amount of investments they manage.
- Broker-Dealers and Brokers: Broker-dealers trade 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 typically members of FINRA. The financial products they can sell depend on their specific licenses, such as Series 6 or Series 7. For instance, a broker who has a Series 7 license is qualified to sell 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, including a fiduciary duty to the people whose assets they help manage. CFPs provide a vast spectrum of financial planning services, such as debt management to retirement planning, and estate planning. Their methodology is all-encompassing, 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 training similar to CERTIFIED FINANCIAL PLANNER™ Professionals and are also required to hold their clients' interests above their own. They specialize in offering holistic financial advice, encompassing areas such as investment management to tax advice, ensuring that clients' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Concentrate on enhancing clients' financial literacy, assisting with fundamentals such as saving money and budgeting. They are perfect for clients who are not yet wealthy enough to work with most financial advisors. This type of guidance delivers a strong basis for handling personal finances wisely, especially for those just starting out.
- Wealth Managers: Serve high-net-worth individuals, offering comprehensive services that include estate planning, tax help, and investment management. They work closely with their clients to navigate complex financial situations and implement wealth preservation strategies. Their skill set is geared towards maximizing the financial health and future of affluent clients, ensuring that every financial decision is aligned with 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 group of advisors boasts CFPs and other qualified professionals who represent 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 asses your current finances, determine means to enhance it, and help you achieve your long-term financial goals. A lot of Pasadena, TX residents commonly immediately think of investing when they hear wealth management services and financial advisors. While that is a principal component of any financial plan, a certified financial advisor will be able to provide you with extensive financial advice that takes into account the whole of your finances. Below are some of the services your Correct Capital financial advisor in Pasadena, TX will utilize in order to help you realize your goals.
- Financial Planning
Our finances are integral to almost everything we do, from making sure we're prepared for retirement, to paying for college, buying and/or selling a house, choosing insurance policies, and making sure we have enough to eat every night. The best financial advisors in Pasadena, TX offer comprehensive services and tailored advice 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, over 7 out of 10 of Americans overpay in taxes each year. The United States tax code is notoriously complex, yet it allows for perfectly legal means to reduce your tax liability. A reliable and expert Pasadena, TX financial advisor will guide you through your tax implications in the interest of keeping more money in your hands than in Uncle Sam's.
- Portfolio Management and Asset Management
Your financial portfolio is the assembly of your financial assets. They can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as real estate. A financial advisor in Pasadena, TX will help to allocate and diversify your assets in order to mitigate risk and strategically position your money for long-term success.
- Retirement Planning
Depending on where you stand in life and your desired lifestyle when you retire, your Pasadena, TX financial advisor will assist with tax implications, evaluating the best age to retire, when to withdraw money and how much to withdraw. A financial advisor will help you formulate a budget and strategy for where your income will come from in retirement so you can spend your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Pasadena, TX businesses and business owners. Setting up a 401(k) plan is a great way to maintain your best employees and keep them productive and happy. Our retirement consultants represent over $218 million in plan assets and hundreds of plan participants nationwide. Our Pasadena, TX financial advisor team offers comprehensive 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 challenging to know the best way to deal with the money you've already saved in a previous Pasadena, TX employer's 401(k) plan. You have several options, such as keeping the money in the account it is currently in, transferring it to a new 401(k), or putting the money in one of a variety of IRA accounts. A financial advisor will know how to best approach managing your 401(k) funds.
- Generational Wealth Transfers
You work hard for your money, and it's normal to desire to leave a legacy and pass on some wealth to the people you care about the dearly. Wealth transfers are different from just leaving gifts behind in estate planning. A financial advisor in Pasadena, TX can optimize your money for not only your children but for future generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's important to choose one who has received accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Pasadena, TX 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 personalized debt management plans that focus on consolidating debt, achieving lower interest rates if feasible, and prioritizing repayments. The goal is to create a practical path forward that aligns with your financial capabilities 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 Pasadena, TX can assist clients grasp how much money's coming in, identify areas for savings, and set realistic spending limits that promote wealth accumulation. By providing tools and strategies for effective budgeting, advisors ensure that clients can meet their current financial obligations while also planning for future goals.
When you hire a Pasadena, TX financial advisor at Correct Capital, we start by getting to know you and your aims. We will evaluate your current income, assets, investments, debts, and expenses. Next we've done that, we'll work in concert with you to determine your preferred risk tolerance and how we can best help you accomplish your goals. As an independent advisory firm, our only job is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can offer you, and we will never try to sell you on something we do not believe in ourselves.
Do I Need to Hire a Financial Advisor in Pasadena, TX?
Seeking the advice of a financial advisor can be a critical step towards achieving financial health, peace of mind, and wealth. While the optimal timing can vary widely from person to person, certain life events and circumstances often signal the need for professional financial advice.
- Major Life Transitions: Life is a long line of changes, and many of them have major financial implications. Whether you're buying a home or changing careers, these milestones can significantly affect how your money should be used and invested. A financial advisor can guide you navigate these changes, ensuring that your financial plan adapts to meet your new situation and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances By Yourself: Managing personal finances can be complex, time-consuming, and, frankly, daunting for many. If you aren't confident to effectively manage your investments, or simply prefer to spend your energy elsewhere, a financial advisor can be crucial. They bring insight and objectivity to your financial decisions, helping to optimize your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
- Getting Close to Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can aid you review your current financial situation, determine 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 wide array of investment options, many of which come with their own set of complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's knowledge can be essential. They can assist you comprehend 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 crucial whenever you hire someone to do something, but especially so when it comes to your hard-earned money. In addition to finding a dependable advisor, you need one whose specialties align with 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 time spent in the industry, the types of clients they've worked with, and their specializations, can offer you a sense of their skills and whether they're well-suited to handle your specific financial circumstances.
- What are your qualifications and certifications?
Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require meeting demanding education, experience, and ethical standards, indicating a high level of expertise and expertise.
- What is your investment philosophy?
An advisor's investment philosophy should complement your risk tolerance and financial goals. Whether they favor a cautious approach with a focus on long-term growth or a more aggressive strategy, their philosophy should be in harmony with your expectations and expectations.
- How do you usually communicate with clients?
Communication method and regularity are crucial to a successful client-advisor relationship. Ask about how often you'll be able to meet with your advisor, whether they'll be face-to-face or virtual, and how the advisor expects to keep you updated about your investments and financial plan.
- What's your fee structure?
Advisors can be either get money from fees/a percentage of your assets, commission from selling financial products, or a mixture thereof. Knowing how an advisor is compensated will assist you in identifying potential biases and guarantee that their advice is offered with your best interests in mind.
- Are you a fiduciary financial advisor?
Confirming that an advisor serves as a fiduciary is vital. This means they are legally required to put your interests ahead of their own, giving advice that best serves your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide comprehensive financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of client education and portfolio reviews. Grasping 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 harm their clients' financial plans. Fiduciary advisors must reveal 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 enable you to assess 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 Pasadena, TX?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors earn their income through commissions on the financial products they offer, such as insurance policies. This fee structure can create a potential conflict of interest, as the advisor might be incentivized to suggest products 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 advise on products that can help you achieve your goals, but not necessarily the ones most appropriate to your needs.
- 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 several forms, including fixed fees assets under management (AUM). This model is often seen as more transparent and in line with the client's best interests, as it reduces conflicts of interest related to product sales.
- 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, 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 cannot recommend those products unless they sincerely believe they are in the client's best interests.
Correct Capital's Financial Advisory Services in Pasadena, TX
Correct Capital stands out in the Pasadena, TX 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 a variety of service models to our clients in Pasadena, TX:
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 great for individuals who are generally confident in managing their finances but desire professional insight to ensure they're doing things the right way. Our team conducts a thorough review of your current financial situation, supplying you with a detailed plan that tackles your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service caters to people who value 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, quarterly meetings, and open availability if the need ever arises. While we will not be managing your portfolio, we'll work 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, comprehensive financial strategizing, 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 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 realizing their long-term goals.
Why Choose Correct Capital as Your Pasadena, TX Financial Advisor?
Correct Capital is a leading choice for individuals and families in Pasadena, TX looking for 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, we is legally obligated to act in your best interests. 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, allowing us the freedom to select the best investments and strategies for you.
- Our Qualifications: 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 have over 100 years of combined experience.
- Proactivity is Our Approach: 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, we prepare the most appropriate strategy for your needs.
- Ongoing Education and Resources: We offer at Correct Capital quarterly webinars and workshops to keep you informed 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 Pasadena, TX means partnering with a team dedicated to your financial success. Our experience, 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 Pasadena, TX include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
Call Correct Capital's Pasadena, TX 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 strongly believe in the relationship between a person, household, or entrepreneur in Pasadena, TX and their financial advisor is based on mutual trust. Committed to helping our clients achieve their financial and personal goals, be it sending your children to college or making the dream purchase of that dream car in retirement. Reach out to our Pasadena, TX 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.
