Financial Advisor in Port St. Lucie, FL. You work hard for your money, and you need to be secure about how it's growing and how it's being used. A lot of Port St. Lucie 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 inclination to stay informed on financial markets along with new laws, regulations, and different events happening around the world. That's when you need a trustworthy, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Port St. Lucie, FL will make your money work for you. We utilize in-depth research along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Port St. Lucie, FL and beyond. Reach out to us today at 877-930-4015 or contact us online to learn how Correct Capital can help you.
Wondering if you're ready to hire a financial advisor in Port St. Lucie, FL? Explore our process page to see how straightforward we make it to find out if we would make a good team.
A 2018 study by FINRA revealed that 53 percent of American adults are nervous about their finances. The cause of that concern is commonly just not being sure they're making the right decisions with their money. After our Port St. Lucie, FL financial advisor team gets to know you, your present financial situation and your financial objectives, we'll implement 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 plans we can recommend. Our financial advisors in Port St. Lucie, FL have certifications that can only be gained through rigorous testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who provides advice on managing personal finances and investments. This broad definition covers a variety 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 qualifications from regulatory bodies such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.
Types of Financial Advisors in Port St. Lucie, FL
Financial advisors can work and market themselves under different titles:
- Investment Advisors or Portfolio Managers: These professionals provide advice on securities and manage investment portfolios. They often work in RIAs and are required to serve as fiduciaries, putting their clients' interests above their own. Investment advisors are certified with either the Securities and Exchange Commission (SEC) or state regulators, based on the assets under management.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds on behalf of their clients or for their own accounts. 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 instance, a broker who holds a Series 7 license is qualified to sell general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals 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. Their approach is all-encompassing, designed to address every aspect of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed training similar to CFPs and are also bound by a fiduciary duty. Like CFPs, ChFCs focus on providing comprehensive financial advice, covering areas such as estate planning to retirement strategies, guaranteeing that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on improving clients' financial literacy, assisting with basics such as saving money and creating budgets. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. Their services offers a good starting point for managing personal finances efficiently, especially for those just starting out.
- Wealth Managers: Cater to high-net-worth individuals, offering a broad array of services that encompass estate planning, tax help, and investment management. They work closely with their clients to manage complex financial situations and develop wealth preservation strategies. Their skill set is focused on optimizing the financial health and future of wealthy individuals, making sure that every financial decision is aligned with customized 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 features CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, making sure 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 look over your current financial situation, ascertain methods to enhance it, and help you reach your long-term financial goals. A lot of Port St. Lucie, FL residents commonly immediately think of investing when they think of wealth management services and financial advisors. While that is a principal part of any financial plan, a professional 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 Port St. Lucie, FL will utilize in order to help you realize your objectives.
- Financial Planning
Our finances are a part of almost anything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a home, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Port St. Lucie, FL offer holistic services and bespoke consulting by considering 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 7 out of 10 of Americans overpay in taxes every year. The United States tax code is incredibly complicated, yet it offers perfectly legal ways to reduce your tax liability. A professional and trustworthy Port St. Lucie, FL financial advisor will guide you through your tax implications to ensure keeping more money in your pocket.
- 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 art. A financial advisor in Port St. Lucie, FL will assist to allocate and diversify your assets to mitigate risk and best position your money for growth.
- Retirement Planning
Depending on where you stand in life and the kind of life you want to live when you hang up your cape, your Port St. Lucie, FL financial advisor will help with tax planning, evaluating the best age to retire, when to make withdrawals and how much to withdraw. A financial advisor will aid in creating a budget and strategy for where your income will come from 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 Port St. Lucie, FL businesses and business owners. Implementing a 401(k) plan is a superb way to maintain your best employees and keep them satisfied and happy. Our retirement consultants manage over $218 million in plan assets and thousands of plan participants nationwide. Our Port St. Lucie, FL financial advisor team offers thorough 401(k) planning for companies as well as personalized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be tough to know the best way to deal with the money you've accumulated in a previous Port St. Lucie, 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 have the knowledge how to best navigate managing your 401(k) funds.
- Generational Wealth Transfers
You earn your money, and it's normal to wish to leave a legacy and leave some wealth behind the people you care about the dearly. Wealth transfers are different from merely leaving gifts behind in estate planning. A financial advisor in Port St. Lucie, FL can strategically plan your money for not only 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 accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Port St. Lucie, FL financial advisor at Correct Capital must observe a "Code of Ethics and Standards of Conduct" to:
- Act with honesty, integrity, competence, and diligence.
- Act in the client's best interest.
- Exercise due care.
- Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
- Maintain confidentiality and protect the privacy of client information.
- Act in a manner that reflects positively on the financial planning profession and CFP® certification.
- Debt Management
Financial advisors offer customized debt management plans that focus on managing debt, 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 financial freedom.
- Budgeting
Creating and staying compliant with a budget is essential to having the financial health and life you want. Financial advisors in Port St. Lucie, FL can assist clients comprehend their cash flow, identify areas to spend less, and set realistic spending limits that encourage growing your wealth. By providing resources 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 Port St. Lucie, FL financial advisor at Correct Capital, we begin by getting to know you personally and your aims. We will evaluate your current income, assets, investments, debts, and expenses. After we've done that, we'll work in concert with you to establish 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 restrictions to the services, products, and investment opportunities our financial advisor team can suggest, 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 Port St. Lucie, FL?
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 differ greatly from person to person, certain life events and circumstances often signal the need for professional financial advice.
- Major Life Changes: Life is a series of changes, and many of them have major financial implications. Whether you're buying a home or changing careers, these milestones can profoundly affect your financial landscape. A financial advisor can assist you manage these changes, ensuring that your financial plan evolves to meet your evolving circumstances 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, overwhelming 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 invaluable. They bring experience and wisdom to your financial decisions, assisting to optimize your portfolio, avoid costly mistakes, and set up your investments for long-term growth.
- Nearing Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can help you review your current financial situation, determine your retirement needs, and devise a plan to ensure you can enjoy your retirement years without worry. This includes strategies for Social Security benefits, pension management, and distribution strategies from retirement accounts.
- Complex Financial Products: The financial market offers a 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 expertise can be crucial. They can assist you understand the risks and benefits, ensuring that any investment matches your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is essential whenever you hire someone to do something, but particularly so when it comes to your finances. In addition to finding a dependable advisor, you need one who perfectly matches your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's track record, including their time spent in the industry, the varieties of clients they've collaborated with, and their specializations, can provide you a sense of their proficiency and whether they're well-suited to handle 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 adhering to strict education, experience, and ethical standards, indicating a high level of competence and expertise.
- Can you describe your investment philosophy?
An advisor's investment philosophy should match 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 resonate with your goals and expectations.
- How do you prefer to communicate with clients?
Communication method and regularity are vital to a successful client-advisor relationship. Ask about how often you'll have meetings, whether they'll be face-to-face or online, and how the advisor plans 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 combination thereof. Grasping how an advisor is compensated will assist you in identifying potential conflicts of interest and guarantee that their advice is made with your best interests in mind.
- Are you a fiduciary financial advisor?
Confirming that an advisor is a fiduciary is vital. This means they are bound by law to put your interests ahead of their own, providing advice that is in the best interest of your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide comprehensive financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of client education and portfolio reviews. Understanding 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 clearly explain potential conflicts of interest and how they manage them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must reveal conflicts of interest, and must manage them in their client's best interest.
Asking these questions will not only provide you with essential information about the financial advisor's qualifications and approach but also 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 Port St. Lucie, FL?
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 products they sell, such as insurance policies. This fee structure can lead to a potential conflict of interest, as the advisor might be incentivized 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 advise on products that can aid in achieving your goals, but not necessarily the ones most appropriate to your needs.
- Fee-Only: Fee-only advisors are compensated directly by their 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 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 blend of the fee-only and commission-based structures, such advisors generally also have a fiduciary duty, which means that although they get commission from certain products, they must reveal this to the client and cannot recommend those products unless they sincerely believe they are in the client's best interests.
Correct Capital's Financial Advisory Services in Port St. Lucie, FL
Correct Capital stands out in the Port St. Lucie, FL 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 three different service models to our clients in Port St. Lucie, FL:
One-Time Financial Plan (best for validators)
This service model is best for those who are looking for the insights and advice a financial advisor can offer without the continuous oversight. This service is great for individuals who largely feel good about managing their finances but are looking for professional validation to confirm they're on the right track. Our team conducts a thorough review of your financial landscape, supplying you with a detailed plan that addresses your specific goals, concerns, and opportunities for growth.
Subscription (best for collaborators)
Our subscription service caters to individuals who appreciate ongoing guidance and advice as their financial situation evolves, or when they have specific questions about taxes, investments, or other aspects of their finances. This model offers monthly insights from our financial advisors, regular check-ins every quarter, and availability on an as-needed basis. While we won't 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 prefer to delegate the management of their investments and financial planning to professionals. This includes active investment management, strategic financial planning, and proactive advice on a wide range of financial matters — from tax strategies and retirement planning to estate considerations 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 committed to maximizing their wealth and achieving their long-term goals.
Why Choose Correct Capital as Your Port St. Lucie, FL Financial Advisor?
Correct Capital is a leading choice for individuals and families in Port St. Lucie, FL seeking trusted, professional 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 is legally obligated to put your interests first. This commitment ensures that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is carried out in a way that aligns most closely with your goals.
- Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Being independent signifies we aren't tied to any financial institution or product, allowing us the freedom to select the best investments and strategies for you.
- Professional Credentials: We are a Registered Investment Advisor (RIA), which gives us the ability access to a wide variety of investment solutions and research. Our advisor team includes a couple of CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Moreover, our retirement consultants and financial portfolio managers boast over 100 years of combined experience.
- Proactivity is Our Approach: Our advisors believe that the most valuable way to create long-term financial security is to stay ahead of trends and lead, rather than follow. Utilizing the latest data and software to analyze trends, we prepare the most appropriate strategy for your needs.
- Ongoing Education and Resources: Correct Capital offers quarterly webinars and workshops to keep you informed and engaged with your financial health. Our commitment to client education ensures that you are well-equipped to make informed decisions alongside your advisor.
Choosing Correct Capital as your financial advisor in Port St. Lucie, 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 Port St. Lucie, FL include:
Call Correct Capital's Port St. Lucie, 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 strongly believe in the relationship between a person, household, or entrepreneur in Port St. Lucie, FL and their financial advisor is founded on trust. Committed to guiding our clients realize their personal and financial goals, whether it's sending your children to college or making the dream purchase of that dream car during your retirement years. Reach out to our Port St. Lucie, FL financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards building your wealth in the manner you desire.
