Financial Advisor in Pembroke Pines, FL. Your hard-earned money deserves attention, and you want to feel confident about how it's growing and how it's being used. Many Pembroke Pines residents do not have the financial literacy to feel like they can handle their investments and finances by themselves, while others are too busy or interest to stay informed on market trends 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 Pembroke Pines, FL will make your money work for you. We utilize in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Pembroke Pines, 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 Pembroke Pines, FL? Take a look at our process page to discover how simple we make it to determine if you're a good fit.
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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 found that 53 percent of American adults are anxious about their finances. A source of that apprehensiveness is commonly just not being sure they're making the right decisions with their money. After our Pembroke Pines, FL financial advisor team gets to know you, your current financial situation and your financial goals, we'll create a road map to help you accomplish them. As a fiduciary and an independent firm, every Correct Capital financial advisor is obligated to act in your best interest and we are not limited in the options we can offer you. Our financial advisors in Pembroke Pines, FL 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 assists individuals oversee their money, plan their finances, save, and plan for their financial future. This role covers a variety of services, from portfolio management and retirement planning to tax planning and estate planning. The primary goal of a financial advisor is to help individuals and organizations reach their financial objectives by creating strategies that align with their risk tolerance, financial situation, and long-term goals. While technically anyone can be called a financial advisor or financial planner, reliable and professional advisors will have qualifications from organizations such as FINRA and the CFP Board that indicate their experience and education.
Types of Financial Advisors in Pembroke Pines, FL
There are several types of advisors that vary based on the services they provide, their compensation models, their areas of expertise, and their legal obligations to clients:
- Investment Advisors or Portfolio Managers: These professionals provide advice on securities and oversee investment portfolios. They often work in RIAs and are required to serve as fiduciaries, prioritizing their clients' interests above their own. Investment advisors are registered 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 for their clients or for themselves. They must be registered by the SEC and are generally 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 has a Series 7 license represents general securities, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals with the CFP designation have completed rigorous training and uphold the highest ethical standards, particularly a fiduciary duty to their clients. CFPs offer a broad range of financial advisory services, including debt management to planning for retirement, and investment strategies. Their methodology is holistic, intended to address all aspects of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed training similar to CERTIFIED FINANCIAL PLANNER™ Professionals and are also required to hold their clients' interests above their own. They focus on providing comprehensive financial advice, covering everything from investment management to retirement strategies, guaranteeing that clients' financial goals are met with the highest ethical standards.
- Financial Coaches: Are dedicated to boosting clients' financial literacy, guiding with fundamentals such as saving money and creating budgets. They are perfect for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching offers a solid foundation for handling personal finances efficiently, particularly for those just starting out.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering extensive services that include estate planning, tax assistance, and investment management. They partner closely with their clients to manage complex financial situations and implement wealth preservation strategies. Their expertise is focused on optimizing the financial health and future of affluent clients, ensuring that their clients' goals and aspirations are met through 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 includes CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, ensuring that we act solely in the best interest of our clients across all our engagements.
What Does a Financial Advisor Do?
A financial advisor will analyze your current financial situation, ascertain means to enhance it, and help you accomplish your long-term financial goals. A lot of Pembroke Pines, FL residents typically immediately think of investing when they think of wealth management services and financial advisors. While that is a core element of any financial plan, a knowledgeable financial advisor will be able to provide you with overarching financial advice that gives consideration to the whole of your finances. The following are some of the services your Correct Capital financial advisor in Pembroke Pines, FL will utilize in order to help you reach your objectives.
- Financial Planning
Our finances are integral to almost everything we do, from making sure we're set up in retirement, to education, buying and/or selling a house, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Pembroke Pines, FL offer holistic services and personalized guidance by evaluating your entire financial situation.
- Tax Planning
Tax considerations play a role in virtually 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 incredibly complicated, yet it offers perfectly legal ways to minimize taxes owed. A reliable and expert Pembroke Pines, FL financial advisor will help you navigate 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 other investments such as art. A financial advisor in Pembroke Pines, FL will assist to allocate and diversify your assets in order to mitigate risk and strategically position your money for long-term growth.
- Retirement Planning
Depending on where you stand in life and the kind of life you want to live when you hang up your cape, your Pembroke Pines, FL financial advisor will help with tax implications, evaluating the best age to retire, when to withdraw money and how much to take out. A financial advisor will aid in creating a budget and strategy for source of income in retirement so you can live out your golden years just how you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Pembroke Pines, FL businesses and business owners. Setting up a 401(k) plan is a fantastic way to keep your best employees and keep them satisfied and happy. Our retirement consultants oversee over $218 million in plan assets and thousands of plan participants nationwide. Our Pembroke Pines, FL financial advisor team offers thorough 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 challenging to know the best way to manage the money you've accumulated in a previous Pembroke Pines, FL employer's 401(k) plan. You have multiple options, such as keeping the money in the account it is in now, 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 handling your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's common to want to leave a legacy and bequeath some wealth behind the people you care about the dearly. Wealth transfers are distinct from merely leaving gifts behind in estate planning. A financial advisor in Pembroke Pines, FL can strategically plan your money for both your children but for generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can give themselves the title of "financial advisor," so it's essential to choose one who has received accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Pembroke Pines, FL financial advisor at Correct Capital must abide 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 matches your financial situation and goals, ultimately leading to stability.
- Budgeting
Creating and sticking to a budget is fundamental to having the financial health and life you want. Financial advisors in Pembroke Pines, FL can help clients grasp your income level, find areas to spend less, and set realistic spending limits that promote wealth accumulation. By providing tools and strategies for successful budgeting, advisors guarantee that clients can satisfy their current financial obligations while also preparing for future goals.
When you hire a Pembroke Pines, FL financial advisor at Correct Capital, we start by getting to know you and your objectives. We will analyze 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 grow your money. As an independent advisory firm, our only priority is to act in your best interest. There is no restrictions to the services, products, and investment opportunities our financial advisor team can propose, and we will never try to sell you on something we do not believe in ourselves.
When Should I Speak to a Financial Advisor in Pembroke Pines, FL?
Seeking the assistance of a financial advisor can be a key step towards getting the life and financial security you want. While the ideal moment can differ greatly 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 transitions, and many of them have significant financial implications. Whether you're starting a family or changing careers, these milestones can dramatically affect your financial landscape. A financial advisor can guide you navigate these changes, ensuring that your financial plan grows to meet your new circumstances and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances Alone: Managing personal finances can be complex, time-consuming, and, frankly, daunting for many. If you don't have the knowledge to successfully manage your investments, or simply choose to focus your energy elsewhere, a financial advisor can be essential. They bring experience and wisdom to your financial decisions, aiding to enhance your portfolio, prevent 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 assist you evaluate your current financial situation, estimate 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 wide array of investment options, many of which come with their own complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's expertise can be essential. They can help you understand the risks and benefits, ensuring that any investment aligns with your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is crucial when you're hiring someone for any service, but particularly so when it comes to your hard-earned money. Beyond just 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 background, including their time spent in the industry, the kinds of clients they've assisted, and their areas of expertise, can provide you a sense of their proficiency and whether they're well-suited to tackle your specific financial circumstances.
- What are your qualifications and certifications?
Inquire about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require meeting strict educational, experience, and ethical standards, indicating 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 cautious approach with a focus on long-term growth or a more dynamic strategy, their philosophy should reflect your aspirations and expectations.
- How do you prefer to communicate with clients?
Communication method and regularity are essential to a successful client-advisor relationship. Discuss 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. Grasping how an advisor is compensated will assist you in identifying potential conflicts of interest and guarantee that their advice is given 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 legally required to put your interests before their own, giving 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 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 clearly explain potential conflicts of interest and how they address them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must disclose conflicts of interest, and are required to manage them in their client's best interest.
Asking these questions will not only provide you with essential information about the financial advisor's qualifications and approach but also 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 Pembroke Pines, 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 financial products they offer, such as mutual funds. This fee structure can create a possible conflict, as the advisor might be incentivized to recommend products that generate higher commissions instead of 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: 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 frequently regarded as more clear and aligned with the client's best interests, as it minimizes conflicts of interest related to product sales.
- Fee-Based: Fee-based advisors use a combination of client-paid fees and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, such 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 Pembroke Pines, FL
Correct Capital is distinguished in the Pembroke Pines, 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 Pembroke Pines, FL:
One-Time Financial Plan (best for validators)
This service model is best for those who are looking for 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 performs a thorough review of your current financial situation, supplying you with a detailed plan that addresses your specific goals, concerns, and opportunities for growth.
Subscription (best for collaborators)
Our subscription service is designed for people who value ongoing guidance and advice as their financial situation changes, or when they have specific questions about taxes, investments, or other aspects of their finances. This model offers monthly updates from our financial advisors, quarterly meetings, and availability on an as-needed basis. While we won't be managing your portfolio, 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 prefer 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 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 overseen by a dedicated team of professionals dedicated to maximizing their wealth and achieving their long-term goals.
Why Choose Correct Capital as Your Pembroke Pines, FL Financial Advisor?
Correct Capital is a premier choice for individuals and families in Pembroke Pines, 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, we are legally obligated to act in your best interests. This commitment ensures 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. Our independence means we aren't tied to any specific financial institution or product, allowing us the freedom to choose 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 two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Moreover, our retirement consultants and financial portfolio managers boast over 100 years of combined experience.
- Proactivity is Our Approach: 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 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 commitment to client education ensures that you are fully prepared to make informed decisions alongside your advisor.
Choosing Correct Capital as your financial advisor in Pembroke Pines, FL means partnering with a team committed 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 secure their future.
Other services we offer in Pembroke Pines, FL include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
- Self-Employed Retirement Plans
Call Correct Capital's Pembroke Pines, FL 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 that the relationship between a person, household, or business owner in Pembroke Pines, FL and their financial advisor is founded on mutual trust. Dedicating our lives to helping our clients realize their personal and financial goals, be it funding higher education for your children or making the dream purchase of that dream car during your retirement years. Contact our Pembroke Pines, FL financial advisor team today at 877-930-4015 or start a conversation with us online to begin building your wealth in the manner you desire.
