Financial Advisor in Philadelphia, PA

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Financial Advisor in Philadelphia, PA. Your hard-earned money deserves attention, and you want to feel confident about how it's being managed and how it's being used. A lot of Philadelphia residents do not have the financial literacy to feel sure they're making the best decisions with their money, while others simply don't have the time or interest to stay informed on market trends along with new laws, rules, and different events happening around the world. That's when you should consider hiring a dependable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Philadelphia, PA will help your finances grow. We use in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Philadelphia, PA and beyond. Call us 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 Philadelphia, PA? Explore our process page to discover how easy we make it to find out 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 reported that 53 percent of American adults are worried about their finances. A source of that apprehensiveness is frequently just not being sure they're making the right decisions with their money. After our Philadelphia, PA financial advisor team gets to know you, your finances and your financial aims, we'll implement a road map to help you reach 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 plans we can put forward. Our financial advisors in Philadelphia, PA have certifications that can only be acquired through exhaustive testing and by meeting strict education requirements.

What Is a Financial Advisor?

A financial advisor is a professional who provides advice on managing personal finances and investments. This role encompasses a wide range of services, from portfolio management and retirement planning to tax planning and estate planning. Financial advisors take a comprehensive view of your financial situation to suggest strategies that suit your goals, risk tolerance, and time horizon. While technically anyone can be called a financial advisor or financial planner, credible and professional advisors will have accreditations from regulatory bodies such as FINRA and the CFP Board that signify their experience and education.

Types of Financial Advisors in Philadelphia, PA

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 oversee investment portfolios. They're often associated with RIAs and are required to serve as fiduciaries, meaning they always have the client's best interest at heart. Investment advisors are registered 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 trade securities like stocks, bonds, and mutual funds for their clients or for themselves. They must be registered by the SEC and are typically members of FINRA. The financial products they can sell are determined by their specific licenses, such as Series 6 or Series 7. For example, a broker who has a Series 7 license is qualified to sell general securities, such as mutual funds and exchange-traded funds (ETFs).
  • CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors holding the CFP certification have completed rigorous training and adhere to high ethical standards, particularly a fiduciary duty to their clients. CFPs provide a vast spectrum of financial advisory services, including debt management to planning for retirement, and tax optimization strategies. This approach is all-encompassing, aiming 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 education similar to CERTIFIED FINANCIAL PLANNER™ Professionals and are also required to hold their clients' interests above their own. They specialize in providing comprehensive financial advice, covering everything from investment management to retirement strategies, guaranteeing that customers' financial goals are achieved through the highest ethical standards.
  • Financial Coaches: Concentrate on boosting clients' financial literacy, guiding 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. Financial coaching provides a strong basis for managing personal finances effectively, particularly for those in the early stages of financial planning.
  • Wealth Managers: Serve high-net-worth individuals, offering a broad array of services that encompass estate planning, tax help, and investment management. They partner closely with their clients to handle complex financial situations and formulate wealth preservation strategies. Their skill set is focused on maximizing the financial health and legacy of affluent clients, guaranteeing 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 boasts CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, ensuring 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 evaluate your present finances, ascertain ways to improve it, and help you realize your future financial goals. Many Philadelphia, PA residents typically immediately think of investing when they think of wealth management services and financial advisors. While that is a crucial part of any financial plan, a certified financial advisor will be able to provide you with overarching financial advice that takes into account the whole of your finances. The following are some of the services your Correct Capital financial advisor in Philadelphia, PA will use in order to help you achieve your objectives.

  • Financial Planning

    Our finances are involved in almost everything we do, from making sure we're prepared for retirement, to education, real estate deals, choosing insurance policies, and making sure we have enough to eat every night. The best financial advisors in Philadelphia, PA offer holistic services and personalized advice by considering your entire financial situation.

  • Tax Planning

    Tax considerations play a role in almost every financial transaction and transfer. According to the IRS's own data, more than 7 out of 10 of Americans overpay in taxes each year. The United States tax code is incredibly complicated, yet it allows for perfectly legal means to lower your taxes. A reliable and expert Philadelphia, PA financial advisor will help you navigate your tax implications in the interest of keeping more money in your own account.

  • Portfolio Management and Asset Management

    Your financial portfolio is the aggregation of your financial assets. They can include equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as real estate. A financial advisor in Philadelphia, PA 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 your desired lifestyle when you retire, your Philadelphia, PA financial advisor will help with tax implications, evaluating the best age to retire, when to withdraw money and how much to withdraw. A financial advisor will assist in formulating a budget and strategy for source of income 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 Philadelphia, PA 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 hundreds of plan participants nationwide. Our Philadelphia, PA financial advisor team offers comprehensive 401(k) planning for companies as well as personalized benefits for their employees.

  • 401(k) Rollover

    When moving to a new job, it can be challenging to know the best way to deal with the money you've accumulated in a previous Philadelphia, PA employer's 401(k) plan. You have multiple options, including 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 have the knowledge how to best manage handling your 401(k) funds.

  • Generational Wealth Transfers

    You earn your money, and it's natural to want to leave a legacy and bequeath some wealth to the people you care about the most. Wealth transfers are different from just leaving gifts behind in estate planning. A financial advisor in Philadelphia, PA can best position 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 boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Philadelphia, PA financial advisor at Correct Capital must follow a "Code of Ethics and Standards of Conduct" to:

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

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

  • Budgeting

    Creating and sticking to a budget is essential to achieving financial health and goals. Financial advisors in Philadelphia, PA can help clients comprehend their cash flow, spot areas for savings, and set realistic spending limits that encourage wealth accumulation. By providing resources and strategies for efficient budgeting, advisors ensure that clients can fulfill their current financial obligations while also planning for future goals.

When you hire a Philadelphia, PA financial advisor at Correct Capital, we begin by getting to know you personally and your objectives. We will evaluate your current income, assets, investments, debts, and expenses. After we've completed that, we'll work in tandem 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 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.

When Should I Consider Hiring a Financial Advisor in Philadelphia, PA?

Seeking the advice of a financial advisor can be a key step towards getting the life and financial security you want. While the optimal timing can vary widely from person to person, certain life events and circumstances often indicate the need for professional financial advice.

  • Major Life Changes: Life is a long line of transitions, and many of them have major financial implications. Whether you're starting a family or facing retirement, these milestones can dramatically affect how your money should be used and invested. A financial advisor can assist you through these changes, ensuring that your financial plan adapts to meet your changing situation and goals.
  • Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: 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 time on other pursuits, a financial advisor can be invaluable. They bring insight and objectivity to your financial decisions, assisting to improve your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
  • Nearing Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can aid you evaluate your current financial situation, determine your retirement needs, and formulate a plan to ensure you can live comfortably during your retirement years comfortably. This includes strategies for Social Security benefits, pension management, and withdrawal plans from retirement accounts.
  • Complex Financial Products: The financial market offers a plethora of investment options, many of which come with their own challenges. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's insight can be vital. They can guide you comprehend 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 especially so when it comes to your hard-earned money. In addition to finding a reliable advisor, you need one who best meets your needs. It's important to inquire properly 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 time spent in the industry, the types of clients they've collaborated with, and their areas of expertise, can offer you a sense of their expertise and whether they're prepared to tackle your financial situation.

  • What are your qualifications and certifications?

    Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require adhering to rigorous educational, experience, and ethical standards, indicating a high level of expertise and expertise.

  • Can you describe your investment philosophy?

    An advisor's investment philosophy should align with 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 usually communicate with clients?

    Communication style and frequency are essential to a productive client-advisor relationship. Discuss how often you'll have meetings, whether they'll be face-to-face 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.

  • 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 help you identify potential conflicts of interest and ensure that their advice is offered with your best interests in mind.

  • Are you a fiduciary financial advisor?

    Confirming that an advisor acts as a fiduciary is essential. This means they are legally obligated to put your interests ahead of their own, offering advice that best serves your financial goals and needs.

  • What services do you offer beyond investment management?

    Many advisors provide holistic 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. 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 transparently share potential conflicts of interest and how they address them to ensure they don't harm their clients' financial plans. Fiduciary advisors must make known conflicts of interest, and must 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 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 Philadelphia, PA?

In general, there are three common ways for financial advisors to be compensated:

  1. Commission-Based: Commission-based advisors earn their income through commissions on the financial products they offer, such as mutual funds. This fee structure can lead to a potential conflict of interest, as the advisor could be motivated to recommend products that generate higher commissions rather than those that are most suited to your financial goals. Commission-based advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to recommend products that can aid in achieving your goals, but not necessarily the ones most appropriate to your needs.
  2. 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 various shapes, including hourly rates assets under management (AUM). This model is frequently regarded as more transparent and in line with the client's best interests, as it 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, such advisors typically also have a fiduciary duty, which means that although 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 Philadelphia, PA

Correct Capital stands out in the Philadelphia, PA financial advisory landscape for its bespoke approach to wealth management and financial planning. Understanding that not all clients have the same starting point or identical goals, we offer a variety of service models to our clients in Philadelphia, PA:


One-Time Financial Plan (best for validators)

This service model is ideal for those who are seeking the insights and advice a financial advisor can offer without the continuous oversight. 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 addresses your specific goals, concerns, and growth opportunities.


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 insights from our financial advisors, quarterly meetings, and open availability if the need ever arises. While we won't be managing your portfolio, we'll work to look for opportunities to help you save and grow your wealth.


Wealth Management (best for delegators)

Our wealth management service model is for clients who prefer to delegate the management of their investments and financial planning to professionals. This includes active portfolio management, strategic financial planning, and 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 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 achieving their long-term goals.


Why Choose Correct Capital as Your Philadelphia, PA Financial Advisor?

Correct Capital is a leading choice for individuals and families in Philadelphia, PA seeking 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, Correct Capital are 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 done in a way that aligns most closely with your goals.
  • Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Being independent signifies we 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 gives us the ability access to a wide variety of investment solutions and research. Our advisor team includes two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Additionally, our retirement consultants and financial portfolio managers 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. Leveraging the latest data and software to analyze trends, 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 guarantees that you are well-equipped to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Philadelphia, PA means partnering with a team committed 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 looking to achieve their financial goals and secure their future.

Other services we offer in Philadelphia, PA include:

Call Correct Capital's Philadelphia, PA Financial Advisor Team Today

The decisions you make about your finances and the decisions you make with it are inherently personal. At Correct Capital, we firmly believe in the relationship between an individual, household, or entrepreneur in Philadelphia, PA and their financial advisor is based on trust. Committed to guiding our clients achieve their financial and personal goals, be it funding higher education for your children or finally achieving the dream of owning that dream car in retirement. Contact our Philadelphia, PA financial advisor team today at 877-930-4015 or start a conversation with us online to take the first step towards growing your wealth how you've always wanted.


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