Financial Advisor in Portland, OR. You work hard for your money, and you want to feel secure about how it's expanding and how it's being used. Numerous Portland residents lack the financial literacy to feel like they can handle their investments and finances by themselves, while others simply don't have the time or inclination to stay up to date on market trends along with new laws, regulations, and different events happening around the world. That's when you need a dependable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Portland, OR will help your finances grow. We employ in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Portland, OR 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 work with a financial advisor in Portland, OR? Check out our process page to discover how straightforward we make it to ascertain if we would make a good team.
A 2018 study by FINRA revealed that 53 percent of American adults are anxious about their finances. The root of that concern is often simply not being sure they're managing their money correctly. Once our Portland, OR financial advisor team gets to know you, your finances and your financial ambitions, we'll build a road map to help you reach them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically compelled to act in your best interest and we are not limited in the plans we can endorse. Our financial advisors in Portland, OR have certifications that can only be awarded through exhaustive testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who helps individuals manage their money, budget, put enough money away, and plan for their financial future. This comprehensive definition encompasses a spectrum of services, from portfolio management and retirement planning to tax planning and estate planning. Financial advisors take a holistic view of your financial situation to recommend strategies that suit your goals, risk tolerance, and time horizon. 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 denote their experience and education.
Types of Financial Advisors in Portland, OR
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 act in a fiduciary capacity, meaning they always have the client's best interest at heart. 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 themselves. They must be registered by the SEC and are usually 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 represents general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP designation have completed rigorous training and uphold the highest ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs offer a wide array of financial advisory services, including debt management to planning for retirement, and tax optimization strategies. Their methodology is comprehensive, 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 training comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and are also required to hold their clients' interests above their own. They specialize in offering holistic financial advice, covering everything from investment management to tax advice, ensuring that clients' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on enhancing clients' financial literacy, assisting with fundamentals such as saving money and budgeting. They are suited for clients who are not yet wealthy enough to work with most financial advisors. This type of guidance offers a strong basis for managing personal finances wisely, particularly for those in the early stages of financial planning.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering comprehensive services that include 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 tailored for enhancing the financial health and future of those with substantial assets, ensuring that their clients' goals and aspirations are met through tailored advice and approaches.
Each type of financial advisor brings unique expertise and services to the table. At Correct Capital, our team of advisors features 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 evaluate your current finances, determine methods to improve it, and help you reach your future financial goals. A lot of Portland, OR residents frequently immediately think of investing when they hear wealth management services and financial advisors. While that is a fundamental part of any financial plan, a professional financial advisor will be able to offer you all-encompassing financial advice that takes into consideration the whole of your finances. The following are some of the services your Correct Capital financial advisor in Portland, OR will utilize to help you accomplish your goals.
- Financial Planning
Our money is integral to almost everything we do, from making sure we're prepared for retirement, to paying for college, buying and/or selling a house, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Portland, OR offer comprehensive services and tailored advice by considering your entire financial situation.
- Tax Planning
Taxes are involved in almost every financial transaction and transfer. According to the IRS's own data, over 70 percent of Americans pay more than necessary in taxes each year. The United States tax code is notoriously complex, yet it offers perfectly legal means to minimize taxes owed. A professional and trustworthy Portland, OR financial advisor will guide you through your tax implications with the aim of keeping more money in your hands than in the government's.
- Portfolio Management and Asset Management
Your financial portfolio is the collection 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 Portland, OR will assist to allocate and diversify your assets in order to mitigate risk and best 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 retire, your Portland, OR financial advisor will assist with tax planning, evaluating the best age to retire, when to make withdrawals and how much to withdraw. A financial advisor will help you formulate a budget and plan for source of income in retirement so you can enjoy your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Portland, OR businesses and business owners. Introducing a 401(k) plan is a fantastic way to keep your best employees and keep them motivated and happy. Our retirement consultants oversee over $218 million in plan assets and numerous of plan participants nationwide. Our Portland, OR financial advisor team offers extensive 401(k) planning for companies as well as individualized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be tough to know the best way to handle the money you've accumulated in a previous Portland, OR employer's 401(k) plan. You have multiple options, such as leaving 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 manage handling your 401(k) funds.
- Generational Wealth Transfers
You work hard for your money, and it's normal to desire to leave a legacy and bequeath 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 Portland, OR can optimize your money for not only your children but for generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's important to pick one who has earned accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Portland, OR 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 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 aligns with your financial situation and goals, eventually leading to financial freedom.
- Budgeting
Creating and staying compliant with a budget is fundamental to achieving financial health and goals. Financial advisors in Portland, OR can assist clients understand their cash flow, spot areas for savings, and set realistic spending limits that facilitate growing your wealth. By providing tools and strategies for successful budgeting, advisors guarantee that clients can fulfill their current financial obligations while also planning for future goals.
When you hire a Portland, OR 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. Once we've completed that, we'll work in tandem with you to determine your preferred risk tolerance and how we can best help you grow your wealth. As an independent advisory firm, our only priority is to act in your best interest. There is no limitation to the services, products, and investment opportunities our financial advisor team can recommend, and we will never try to sell you on something we do not believe in ourselves.
When Should I Hire a Financial Advisor in Portland, OR?
Seeking the assistance of a financial advisor can be a key step towards achieving financial well-being, peace of mind, and wealth. While the right time can differ greatly from person to person, certain life events and circumstances often indicate the need for professional financial advice.
- Major Life Changes: Life is a series of transitions, and many of them have substantial financial implications. Whether you're starting a family or facing retirement, these milestones can dramatically affect your financial landscape. A financial advisor can help you navigate these changes, ensuring that your financial plan grows 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 complex, time-consuming, and, frankly, overwhelming for many. If you aren't confident to successfully manage your investments, or simply prefer to spend your time on other pursuits, a financial advisor can be invaluable. They bring experience and objectivity to your financial decisions, assisting to optimize your portfolio, prevent 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 assess your current financial situation, estimate your retirement needs, and formulate a plan to ensure you can experience 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 myriad 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 expertise can be crucial. They can guide you grasp the risks and benefits, ensuring that any investment aligns with your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is 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 ask the right questions during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's track record, including their years in the industry, the kinds of clients they've worked with, and their areas of expertise, can give you a sense of their expertise and whether they're well-suited to tackle your financial needs.
- What are your qualifications and certifications?
Ask about any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require fulfilling strict education, 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 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 usually communicate with clients?
Communication method and regularity are vital to a productive client-advisor relationship. Inquire about how often you'll have meetings, whether they'll be face-to-face or virtual, and how the advisor intends 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 fee-only, commission-based, or a combination thereof. Grasping how an advisor is compensated will enable you to discern potential biases and make certain that their recommendations are made with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor is a fiduciary is crucial. This means they are bound by law to put your interests before their own, providing 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 assist you in determining 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 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 Portland, OR?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions make their earnings through commissions on the products they sell, such as insurance policies. This fee structure can create a possible conflict, as the advisor might be incentivized to recommend options 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 recommend products that can aid in achieving your goals, but not necessarily the ones best suited to your needs.
- Fee-Only: Advisors on a fee-only basis 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 several forms, 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 reduces 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 mix 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 Portland, OR
Correct Capital stands out in the Portland, OR financial advisory landscape for its customized approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or identical goals, we offer a variety of service models to our clients in Portland, OR:
One-Time Financial Plan (best for validators)
This service model is ideal 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 seek professional validation to confirm they're doing things the right way. Our team performs a thorough review of your financial landscape, providing 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 consistent 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 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 investment management, comprehensive financial strategizing, and forward-looking guidance on a wide range of financial matters — from tax planning and retirement planning to estate considerations and beyond. Our wealth management clients enjoy a sense of security, 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 financial goals.
Why Choose Correct Capital as Your Portland, OR Financial Advisor?
Correct Capital is a premier choice for individuals and families in Portland, OR looking for trusted, professional financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:
- We're Fiduciary Advisors: As fiduciaries, we 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: All the advice we offer is independent, objective, and unbiased. Being independent means we aren't 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 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.
- We Are Proactive: 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, our aim is to craft 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 guarantees that you are well-equipped to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Portland, OR means partnering with a team committed to your financial success. Our expertise, fiduciary commitment, and personalized approach to financial planning and investment management make us the perfect choice for individuals and families looking to achieve their financial goals and safeguard their future.
Other services we offer in Portland, OR include:
Call Correct Capital's Portland, OR Financial Advisor Team Today
Your money and the decisions you make with it are deeply personal. At Correct Capital, we firmly believe in the relationship between an individual, family, or entrepreneur in Portland, OR and their financial advisor is founded on mutual trust. Dedicating our lives to helping our clients realize their personal and financial goals, whether it's sending your children to college or finally achieving the dream of owning that dream car in retirement. Contact our Portland, OR 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.
