Financial Advisor in Portland, OR. Your hard-earned money deserves attention, and you need to feel secure about how it's growing and how it's being used. Numerous Portland residents do not have the financial literacy to feel sure they're making the optimal decisions with their money, while others simply don't have the time or inclination to stay up to date on financial markets along with new laws, regulations, and global events. That's when you should consider hiring a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Portland, OR will make your money work for you. We use in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Portland, OR and beyond. Speak to a team member today at 877-930-4015 or contact us online to see if Correct Capital is a good fit for you.
Not sure if you're ready to work with a financial advisor in Portland, OR? Explore our process page to discover how easy we make it to determine 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 found that 53 percent of American adults are worried about their finances. A source of that anxiety is commonly simply not being sure they're putting their money in the right places. Once our Portland, OR financial advisor team gets to know you, your current financial situation and your financial ambitions, we'll design a road map to help you reach them. As a fiduciary and an independent firm, every Correct Capital financial advisor is required to act in your best interest and we are not limited in the options we can put forward. Our financial advisors in Portland, OR have certifications that can only be awarded through exhaustive testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who assists individuals oversee their money, budget, save, and prepare for their financial future. This comprehensive definition encompasses a variety of services, from portfolio management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a holistic view of your financial situation to recommend strategies that match your goals, risk tolerance, and time horizon. While technically anyone can be called a financial advisor or financial planner, reliable 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
There are various types of advisors that vary based on the services they provide, their compensation models, their professional expertise, and their legal obligations to clients:
- Investment Advisors or Portfolio Managers: These professionals offer 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 registered with either the Securities and Exchange Commission (SEC) or state regulators, depending 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 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, an advisor 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): Professionals holding the CFP certification have completed rigorous training and adhere to the highest ethical standards, including a fiduciary duty to their clients. CFPs provide a vast spectrum of financial planning services, including debt management to planning for retirement, and tax optimization strategies. Their methodology is all-encompassing, intended to address all aspects of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have undergone training similar to CERTIFIED FINANCIAL PLANNER™ Professionals and are also bound by a fiduciary duty. Like CFPs, ChFCs specialize in offering holistic financial advice, covering areas such as investment management to tax advice, ensuring that clients' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Focus on boosting clients' financial literacy, guiding with basics such as saving money and creating budgets. They are ideal for clients who don't have the financial resources to hire a financial advisor just yet. Financial coaching provides a strong basis for handling personal finances efficiently, particularly for those in the early stages of financial planning.
- Wealth Managers: Serve high-net-worth individuals, offering comprehensive services that encompass estate planning, tax help, and investment management. They work closely with their clients to handle complex financial situations and implement wealth preservation strategies. Their expertise is geared towards maximizing the financial health and legacy of wealthy individuals, guaranteeing that their clients' goals and aspirations are met through personalized 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 boasts CFPs and other qualified professionals who embody the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act exclusively in the best interest of our clients in all of our advice and dealings.
What Does a Financial Advisor Do?
A financial advisor will look over your present financial situation, pinpoint methods to enhance it, and help you meet your long-term financial goals. A lot of Portland, OR residents often immediately think of investing when they consider wealth management services and financial advisors. While that is a principal facet of any financial plan, an accomplished financial advisor will be able to offer you extensive financial advice that takes into consideration the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Portland, OR will utilize in order to help you meet your goals.
- Financial Planning
Our finances are involved in almost everything we do, from making sure we're prepared for retirement, to education, buying and/or selling a house, choosing insurance policies, and making sure we have enough to eat every night. The best financial advisors in Portland, OR offer all-encompassing services and personalized advice by taking into account your entire financial situation.
- Tax Planning
Tax considerations play a role in nearly every financial transaction and transfer. According to the IRS's own data, more than 70 percent of Americans overpay in taxes every 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 help you navigate your tax implications in the interest of keeping more money in your pocket.
- 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 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 optimally position your money for growth.
- Retirement Planning
Depending on where you currently are in life and your desired lifestyle when you retire, your Portland, OR financial advisor will assist with tax planning, considering the best age to retire, when to withdraw money 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 enjoy your golden years just how you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Portland, OR businesses and business owners. Setting up a 401(k) plan is a superb way to retain your best employees and keep them productive and happy. Our retirement consultants oversee over $218 million in plan assets and thousands of plan participants nationwide. Our Portland, OR financial advisor team offers comprehensive 401(k) planning for companies as well as individualized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be challenging 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, including keeping the money in the account it is currently in, moving 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 work hard for your money, and it's natural to wish to leave a legacy and leave some wealth behind the people you care about the most. Wealth transfers are separate from merely leaving gifts behind in estate planning. A financial advisor in Portland, OR can strategically plan your money for not only your children but for future generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's necessary to choose one who has earned accreditations and certifications from regulatory boards 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 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 personalized debt management plans that focus on consolidating debt, securing lower interest rates where possible, and prioritizing repayments. The goal is to create a practical path forward that suits your financial capabilities and goals, eventually leading to stability.
- Budgeting
Creating and staying compliant with a budget is crucial to having the financial health and life you want. Financial advisors in Portland, OR can help clients understand how much money's coming in, find areas for savings, and set realistic spending limits that promote growing your wealth. By providing resources and strategies for effective budgeting, advisors make sure that clients can fulfill their current financial obligations while also preparing for future goals.
When you hire a Portland, OR financial advisor at Correct Capital, we start by getting to know you and your objectives. We will assess your current income, assets, investments, debts, and expenses. Next we've completed that, we'll work in concert with you to establish your preferred risk tolerance and how we can best help you reach your goals. As an independent advisory firm, our only commitment is to act in your best interest. There is no limitation to the services, products, and investment opportunities our financial advisor team can put forward, 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 Portland, OR?
Seeking the guidance of a financial advisor can be a key step towards achieving financial well-being, peace of mind, and wealth. While the optimal timing can vary widely from person to person, certain life events and circumstances often signal the need for expert financial advice.
- Major Life Changes: Life is a long line of changes, and many of them have substantial 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 grows to meet your changing situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complicated, time-consuming, and, frankly, daunting for many. If you don't have the knowledge to successfully manage your investments, or simply prefer to focus your time on other pursuits, a financial advisor can be crucial. They bring expertise and perspective to your financial decisions, helping to optimize your portfolio, prevent costly mistakes, and set up your investments for future success.
- 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 formulate a plan to ensure you can experience 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 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 knowledge can be vital. They can guide you comprehend the risks and benefits, ensuring that any investment fits your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is crucial whenever you hire someone to do something, but particularly so when it involves your hard-earned money. Beyond just finding a trustworthy advisor, you need one whose specialties align with your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's experience, including their years in the industry, the kinds of clients they've assisted, and their expert areas, can provide you a sense of their proficiency and whether they're equipped to tackle your specific financial circumstances.
- What are your qualifications and certifications?
Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require adhering to rigorous educational, experience, and ethical standards, demonstrating a high level of competence and expertise.
- Can you describe 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 resonate with your goals and expectations.
- How do you prefer to communicate with clients?
Communication method and regularity are crucial to a successful client-advisor relationship. Discuss how often you'll have meetings, whether they'll be face-to-face or virtual, and how the advisor expects to keep you informed about your investments and financial plan.
- How are you compensated for your services?
Advisors can be fee-only, commission-based, 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 made with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor acts as a fiduciary is crucial. This means they are bound by law to put your interests ahead of their own, offering advice that optimally benefits 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 client education and portfolio reviews. Knowing 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 manage them to ensure they don't negatively impact 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 give 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 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 financial products they offer, such as other financial products. This fee structure can lead to a possible conflict, as the advisor might be incentivized to suggest options that generate higher commissions instead of 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 best suited to your needs.
- Fee-Only: Advisors on a fee-only basis 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 several forms, including hourly rates assets under management (AUM). This model is often seen as more clear and in line 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 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, fee-based 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 are not allowed to 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 bespoke approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or the same goals, we offer a variety of service models to our clients in Portland, OR:
One-Time Financial Plan (best for validators)
This service model is best 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 largely feel good about managing their finances but seek professional insight to confirm they're setting their money up for success in the best way. Our team performs a thorough review of your financial landscape, providing you with a detailed plan that addresses your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service caters to individuals who value consistent guidance and advice as their financial situation changes, or when they have specific questions about something related to their finances. This model offers monthly insights from our financial advisors, quarterly meetings, and availability on an as-needed basis. While we will not manage your investments for you, we'll strive to look for opportunities to help you grow and save 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 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 overseen by a dedicated team of professionals committed to maximizing their wealth and achieving 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 seeking 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, Correct Capital is legally obligated to put your interests first. This commitment guarantees 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. Our independence signifies we aren't tied to any specific financial institution or product, enabling us the freedom to select the best investments and strategies for you.
- Professional Credentials: We are a Registered Investment Advisor (RIA), which allows us 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 have 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 anticipate 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 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 Portland, OR means partnering with a team dedicated to your financial success. Our expertise, 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 Portland, OR 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 Portland, OR Financial Advisor Team Today
The decisions you make about your finances and the decisions you make with it are deeply personal. At Correct Capital, we strongly believe that the relationship between a person, household, or business owner in Portland, OR and their financial advisor is based on trust. Dedicating our lives to helping our clients achieve 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. Reach out to our Portland, OR financial advisor team today at 877-930-4015 or start a conversation with us online to begin growing your wealth how you've always wanted.
