Financial Advisor in Raleigh, NC

Financial Advisor in Raleigh, NC. Your hard-earned money deserves attention, and you want to feel secure about how it's being managed and how it's being used. Many Raleigh residents lack the financial literacy to feel like they can handle their investments and finances by themselves, while others are too busy or interest to stay up to date on market trends along with new laws, regulations, and global events. That's when you need a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Raleigh, NC will help your finances grow. We utilize in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Raleigh, NC and beyond. Call us today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.

Uncertain if you're ready to hire a financial advisor in Raleigh, NC? Explore our process page to see how simple we make it to determine 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 root of that apprehensiveness is often simply not being sure they're putting their money in the right places. Once our Raleigh, NC financial advisor team gets to know you, your present financial situation and your financial objectives, we'll design a road map to help you realize 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 recommend. Our financial advisors in Raleigh, NC have certifications that can only be awarded through rigorous testing and by meeting strict education requirements.

What Is a Financial Advisor?

A financial advisor is a specialist who assists individuals oversee their money, budget, save, and prepare for their financial future. This role includes a wide range of services, from investment management and retirement planning to tax planning and estate planning. Financial advisors take a holistic view of your financial situation to advise on 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 accreditations from organizations such as FINRA and the CFP Board that signify their experience and education.

Types of Financial Advisors in Raleigh, NC

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 manage investment portfolios. They often work in RIAs and are required to act in a fiduciary capacity, meaning they must act within a client's best interest. Portfolio managers are registered with either the Securities and Exchange Commission (SEC) or state regulators, based on the assets under management.
• Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds on behalf of their clients or for their own accounts. They must register with the SEC and are generally members of FINRA. The financial products they can sell are determined by their specific licenses, such as Series 6 or Series 7. For instance, an advisor 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 with the CFP designation have undergone extensive education and adhere to the highest ethical standards, particularly a fiduciary duty to their clients. CFPs offer a wide array of financial advisory services, including managing debt to retirement planning, and estate planning. This approach is comprehensive, intended to address all aspects of a client's financial life.
• Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have undergone education similar to CFPs and are also required to hold their clients' interests above their own. They specialize in providing comprehensive financial advice, encompassing everything from investment management to tax advice, ensuring that clients' financial goals are met with the highest ethical standards.
• Financial Coaches: Are dedicated to improving clients' financial literacy, guiding 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 delivers a strong basis for managing personal finances wisely, especially for those just starting out.
• Wealth Managers: Serve high-net-worth individuals, offering comprehensive services that include estate planning, tax assistance, and investment management. They partner closely with their clients to navigate complex financial situations and formulate wealth preservation strategies. This expertise is geared towards optimizing the financial health and future of those with substantial assets, ensuring that all investments and planning strategies meet tailored advice and approaches.

Each type of financial advisor provides unique expertise and services to the table. At Correct Capital, our team of advisors features CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act solely in the best interest of our clients in all of our advice and dealings.

What Does a Financial Advisor Do?

A financial advisor will examine your current financial situation, pinpoint ways to improve it, and help you accomplish your long-term financial goals. Many Raleigh, NC residents typically immediately think of investing when they think of wealth management services and financial advisors. While that is a crucial facet of any financial plan, an accomplished financial advisor will be able to provide you with all-encompassing financial advice that takes into consideration the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Raleigh, NC will implement to help you meet your objectives.

• Financial Planning

  Our finances are a part of almost everything 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 making sure we have enough to eat every night. The best financial advisors in Raleigh, NC offer holistic services and personalized advice by evaluating 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, over 7 out of 10 of Americans pay more than necessary in taxes each year. The United States tax code is incredibly complicated, yet it provides perfectly legal means to lower your taxes. A professional and trustworthy Raleigh, NC financial advisor will assist you in navigating 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 real estate. A financial advisor in Raleigh, NC will help in allocating and diversify your assets in order to mitigate risk and strategically position your money for growth.

• Retirement Planning

  Depending on where you stand in life and your desired lifestyle when you hang up your cape, your Raleigh, NC financial advisor will assist with tax implications, 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 plan 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 Raleigh, NC businesses and business owners. Setting up a 401(k) plan is a superb way to keep your best employees and keep them motivated and happy. Our retirement consultants oversee over $218 million in plan assets and thousands of plan participants nationwide. Our Raleigh, NC financial advisor team offers thorough 401(k) planning for companies as well as personalized benefits for their employees.

• 401(k) Rollover

  When transitioning to a new job, it can be tough to know the best way to handle the money you've accumulated in a previous Raleigh, NC employer's 401(k) plan. You have multiple options, such as 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 managing your 401(k) funds.

• Generational Wealth Transfers

  You earn your money, and it's natural to desire to leave a legacy and bequeath some wealth behind the people you care about the dearly. Wealth transfers are different from just leaving gifts behind in estate planning. A financial advisor in Raleigh, NC can optimize 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 necessary to choose one who has accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Raleigh, NC financial advisor at Correct Capital is bound by 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 personalized debt management plans that focus on managing debt, achieving lower interest rates if feasible, and prioritizing repayments. The goal is to create a workable path forward that matches your financial situation and goals, eventually leading to stability.

• Budgeting

  Creating and staying compliant with a budget is essential to having the financial health and life you want. Financial advisors in Raleigh, NC can assist clients grasp your income level, find areas for savings, and set realistic spending limits that facilitate growing your wealth. By providing tools and strategies for effective budgeting, advisors ensure that clients can fulfill their current financial obligations while also preparing for future goals.

When you hire a Raleigh, NC financial advisor at Correct Capital, we start by getting to know you and your aims. We will evaluate your current income, assets, investments, debts, and expenses. Once we've accomplished that, we'll work in concert with you to determine your preferred risk tolerance and how we can best help you realize 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 suggest, and we will never try to sell you on something we do not believe in ourselves.

When Should I Speak to a Financial Advisor in Raleigh, NC?

Seeking the advice of a financial advisor can be a key step towards achieving financial health, peace of mind, and wealth. While the right time can differ greatly from person to person, certain life events and circumstances often suggest the need for professional financial advice.

• Major Life Changes: Life is a series 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 help you through these changes, ensuring that your financial plan adapts to meet your changing circumstances and goals.
• Lack of Experience, Time, Knowledge, or Desire 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 choose to focus your time elsewhere, a financial advisor can be invaluable. They bring expertise and perspective to your financial decisions, assisting to improve your portfolio, prevent costly mistakes, and set up your investments for future success.
• Nearing Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can help you review your current financial situation, calculate your retirement needs, and craft a plan to ensure you can enjoy your retirement years with peace of mind. This includes strategies for Social Security benefits, pension management, and distribution strategies from retirement accounts.
• Complex Financial Products: The financial market offers a wide array of investment options, many of which come with their own 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 essential. They can help 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 paramount whenever you hire someone to do something, but particularly so when it comes to your finances. Beyond just 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 experience, including their years in the industry, the varieties of clients they've assisted, and their expert areas, can give you a sense of their proficiency and whether they're equipped to handle your specific financial circumstances.

• 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 educational, experience, and ethical standards, demonstrating a high level of competence and expertise.

• What is your investment philosophy?

  An advisor's investment philosophy should complement your risk tolerance and financial goals. Whether they favor a cautious approach with a focus on long-term growth or a more dynamic strategy, their philosophy should reflect your aspirations and expectations.

• How do you prefer to communicate with clients?

  Communication method and frequency are vital to a successful client-advisor relationship. Inquire about how often you'll be able to meet with your advisor, whether they'll be in person or virtual, and how the advisor plans to keep you informed about your investments and financial 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. Knowing how an advisor is compensated will help you identify potential conflicts of interest and ensure 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 before their own, providing 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 educational resources and portfolio reviews. Knowing 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 openly discuss potential conflicts of interest and how they deal with them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must make known conflicts of interest, and are required to 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 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 Raleigh, NC?

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 products they sell, such as mutual funds. This fee structure can lead to a potential conflict of interest, as the advisor could be motivated to suggest products 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 most appropriate to your needs.
2. 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 fixed fees assets under management (AUM). This model is frequently regarded as more clear and in line with the client's best interests, as it minimizes conflicts of interest related to product sales.
3. Fee-Based: Fee-based advisors use a combination of client-paid fees and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, such advisors generally also have a fiduciary duty, which means that even if they get commission from certain products, they must disclose that information 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 Raleigh, NC

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

One-Time Financial Plan (best for validators)

This service model is best for those who are seeking the guidance and recommendations a financial advisor can offer without the continuous oversight. This service is excellent for individuals who are generally confident in managing their finances but desire professional insight to ensure they're setting their money up for success in the best way. Our team performs a thorough review of your financial landscape, supplying you with a detailed plan that tackles your specific goals, concerns, and growth opportunities.

Subscription (best for collaborators)

Our subscription service is designed for individuals who appreciate 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 updates from our financial advisors, quarterly meetings, and open availability if the need ever arises. While we will not manage your investments for you, we'll work 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 choose 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 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 realizing their financial goals.

Why Choose Correct Capital as Your Raleigh, NC Financial Advisor?

Correct Capital is a leading choice for individuals and families in Raleigh, NC looking for trusted, professional financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:

• We are Fiduciary Advisors: As fiduciaries, we are legally obligated to act in your best interests. This commitment guarantees that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is done with your best interests at heart.
• Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Being independent means we are not tied to any financial institution or product, enabling us the freedom to select the best investments and strategies for you.
• Our Qualifications: We are a Registered Investment Advisor (RIA), which allows us 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: 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. Utilizing the latest data and software to analyze trends, we prepare 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 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 Raleigh, NC means partnering with a team dedicated to your financial success. Our experience, fiduciary commitment, and personalized approach to financial planning and investment management make us the perfect choice for individuals and families seeking to achieve their financial goals and secure their future.

Other services we offer in Raleigh, NC include:

• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor
• Small Business Retirement Plans

Call Correct Capital's Raleigh, NC Financial Advisor Team Today

Your money and the decisions you make with it are inherently personal. At Correct Capital, we strongly believe that the relationship between an individual, household, or entrepreneur in Raleigh, NC and their financial advisor is based on trust. Dedicating our lives to helping our clients achieve 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 Raleigh, NC financial advisor team today at 877-930-4015 or get in touch with us online to begin building your wealth in the manner you desire.

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