Financial Advisor in Salinas, CA

Financial Advisor in Salinas, CA. Your hard-earned money deserves attention, and you want to be confident about how it's expanding and how it's being used. Numerous Salinas residents lack the financial literacy to feel sure they're making the best decisions with their money, 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 should consider hiring a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Salinas, CA will make your money work for you. We utilize in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Salinas, CA and beyond. Reach out to us today at 877-930-4015 or contact us through our website to learn how Correct Capital can help you.

Uncertain if you're ready to work with a financial advisor in Salinas, CA? Check out 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 reported that 53 percent of American adults are anxious about their finances. The root of that anxiety is frequently just not being sure they're managing their money correctly. After our Salinas, CA financial advisor team gets to know you, your present financial situation and your financial objectives, we'll design a road map to help you achieve 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 options we can offer you. Our financial advisors in Salinas, CA 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 assists individuals manage their money, budget, put enough money away, and plan for their financial future. This role includes a wide range of services, from portfolio management and retirement planning to tax planning and estate planning. 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, reliable and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that can only be obtained through rigorous education and exams.

Types of Financial Advisors in Salinas, CA

There are multiple types of advisors that vary based on the services they provide, how they're paid, 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 act in a fiduciary capacity, prioritizing their clients' interests above their own. Portfolio managers 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 for their clients or for themselves. 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, such as mutual funds and exchange-traded funds (ETFs).
• CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals with the CFP certification have completed rigorous education and uphold high ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs offer a broad range of financial advisory services, such as managing debt to planning for retirement, and estate planning. This approach is holistic, 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 education similar to CFPs and are also required to hold their clients' interests above their own. Like CFPs, ChFCs specialize in offering comprehensive financial advice, covering everything from estate planning to tax advice, ensuring that customers' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Focus on improving clients' financial literacy, guiding with fundamentals such as saving money and creating budgets. They are perfect for clients who might not have the financial resources to hire a financial advisor just yet. Their services delivers a solid foundation for handling personal finances effectively, especially for those looking to take the first step towards financial wellbeing.
• Wealth Managers: Help high-net-worth individuals, offering extensive services that include estate planning, tax help, and investment management. They collaborate intimately with their clients to manage complex financial situations and develop wealth preservation strategies. Their skill set is geared towards optimizing the financial health and legacy of wealthy individuals, ensuring that their clients' goals and aspirations are met through personalized advice and approaches.

Each type of financial advisor provides unique expertise and services to the table. At Correct Capital, our team of advisors boasts CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, making sure that we act exclusively 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, identify means to improve it, and help you accomplish your long-term financial goals. A lot of Salinas, CA residents often immediately think of investing when they think of wealth management services and financial advisors. While that is a crucial feature of any financial plan, a knowledgeable financial advisor will be able to give you overarching financial advice that considers the whole of your finances. The following are some of the services your Correct Capital financial advisor in Salinas, CA will utilize in order to help you accomplish your objectives.

• Financial Planning

  Our money is integral to almost anything we do, from making sure we're set up in retirement, to education, buying and/or selling a home, choosing insurance policies, and making sure we have enough to eat every night. The best financial advisors in Salinas, CA offer holistic services and tailored advice by evaluating your entire financial situation.

• Tax Planning

  Taxes are involved 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 offers perfectly legal means to lower your taxes. A reliable and expert Salinas, CA financial advisor will guide you through your tax implications in the interest of keeping more money in your own account.

• 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 other investments such as real estate. A financial advisor in Salinas, CA will assist to allocate 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 the kind of life you want to live when you retire, your Salinas, CA financial advisor will help with tax planning, considering the optimal time to retire, when to withdraw money and how much to take out. A financial advisor will assist in formulating a budget and strategy for source of income in retirement so you can spend your golden years exactly the way you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Salinas, CA businesses and business owners. Introducing 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 Salinas, CA financial advisor team offers extensive 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 difficult to know the best way to handle the money you've accumulated in a previous Salinas, CA employer's 401(k) plan. You have a number of options, including keeping the money in the account it is in now, transferring it to a new 401(k), or investing the money in one of a range of IRA accounts. A financial advisor will know how to best navigate managing your 401(k) funds.

• Generational Wealth Transfers

  You work hard for your money, and it's normal to want to leave a legacy and pass on 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 Salinas, CA can optimize your money for both your children but for future generations to come, even ones you haven't met yet.

• Fiduciary Advising

  Anyone can give themselves the title of "financial advisor," so it's crucial to choose 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 Salinas, CA 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 structuring repayments. The goal is to create a manageable path forward that matches your financial capabilities and goals, ultimately leading to financial freedom.

• Budgeting

  Creating and staying compliant with a budget is essential to achieving financial health and goals. Financial advisors in Salinas, CA can help clients grasp how much money's coming in, spot areas for savings, and set realistic spending limits that facilitate growing your wealth. By providing resources and strategies for efficient budgeting, advisors ensure that clients can fulfill their current financial obligations while also preparing for future goals.

When you hire a Salinas, CA financial advisor at Correct Capital, we start by getting to know you and your aims. We will analyze your current income, assets, investments, debts, and expenses. After we've completed that, we'll work in tandem with you to determine your preferred risk tolerance and how we can best help you meet your goals. As an independent advisory firm, our only priority is to act in your best interest. There is no restrictions to the services, products, and investment opportunities our financial advisor team can propose, and we will never try to sell you on something we do not believe in ourselves.

When Should I Consider Hiring a Financial Advisor in Salinas, CA?

Seeking the guidance of a financial advisor can be a vital step towards achieving financial health, peace of mind, and wealth. While the ideal moment can vary widely from person to person, certain life events and circumstances often indicate the need for professional financial advice.

• Major Life Transitions: Life is a long line of changes, and many of them have significant financial implications. Whether you're starting a family or changing careers, these milestones can profoundly affect your financial landscape. A financial advisor can guide you through these changes, ensuring that your financial plan evolves to meet your changing circumstances and goals.
• Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: Managing personal finances can be complex, demanding, and, frankly, daunting for many. If you don't have the knowledge to effectively handle your investments, or simply choose to focus your time on other pursuits, a financial advisor can be invaluable. They bring insight and wisdom to your financial decisions, helping to enhance your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
• Getting Close to Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can assist you assess your current financial situation, calculate your retirement needs, and devise 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 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 insight can be crucial. They can help 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 when you're hiring someone for any service, but particularly so when it involves your hard-earned money. In addition to finding a trustworthy advisor, you need one who ideally suits 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 background, including their time spent in the industry, the kinds of clients they've collaborated with, and their areas of expertise, can provide you a sense of their expertise and whether they're prepared to manage 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 demanding education, experience, and ethical standards, indicating a high level of competence and expertise.

• What is 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 aggressive strategy, their philosophy should reflect your goals and expectations.

• How do you usually communicate with clients?

  Communication style and frequency are vital to a productive 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 intends to keep you updated 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 mixture thereof. Knowing how an advisor is compensated will enable you to discern potential conflicts of interest and ensure that their recommendations are made with your best interests in mind.

• Are you a fiduciary financial advisor?

  Confirming that an advisor serves as a fiduciary is essential. This means they are legally obligated 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 extensive 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 address them to ensure they don't harm their clients' financial plans. Fiduciary advisors must disclose 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 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 Salinas, CA?

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

1. Commission-Based: Commission-based advisors earn their income through commissions on the financial products they offer, such as other financial products. This fee structure can create a potential conflict of interest, as the advisor could be motivated to recommend options 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.
2. Fee-Only: Advisors on a fee-only basis are compensated directly by their clients for the guidance and assistance they provide and do not receive any commissions from product sales. This compensation can take various shapes, including a percentage of the assets under management (AUM). This model is frequently regarded as more transparent and aligned with the client's best interests, as it reduces conflicts of interest related to product sales.
3. Fee-Based: Advisors with a fee-based approach use a combination of fees paid by the client and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, such advisors typically also have a fiduciary duty, which means that even if they get commission from certain products, they must disclose that information 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 Salinas, CA

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

One-Time Financial Plan (best for validators)

This service model is best for those who are looking for the guidance and recommendations 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 current financial situation, 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 people who appreciate 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 won't be managing your portfolio, 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 choose 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 strategies and retirement planning to estate planning and beyond. Our wealth management clients enjoy a sense of security, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals committed to maximizing their wealth and achieving their long-term goals.

Why Choose Correct Capital as Your Salinas, CA Financial Advisor?

Correct Capital is a premier choice for individuals and families in Salinas, CA seeking reliable, expert financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:

• We're Fiduciary Advisors: As fiduciaries, we are legally obligated to put your interests first. This commitment guarantees that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is carried out 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 specific financial institution or product, allowing us the freedom to select the best investments and strategies for you.
• Our Qualifications: We are a Registered Investment Advisor (RIA), which gives us the ability access to a wide variety of investment solutions and research. Our advisor team includes two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Additionally, our retirement consultants and financial portfolio managers boast over 100 years of combined experience.
• We Are Proactive: 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 aimed at keeping you up-to-date and engaged with your financial health. Our commitment to client education guarantees that you are fully prepared to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Salinas, CA 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 ideal partner for individuals and families looking to achieve their financial goals and safeguard their future.

Other services we offer in Salinas, CA include:

• High-Net-Worth Wealth Management
• Retirement Planner
• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor

Call Correct Capital's Salinas, CA 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 Salinas, CA and their financial advisor is founded on trust. Committed to guiding our clients realize their financial and personal goals, be it sending your children to college or making the dream purchase of that dream car during your retirement years. Contact our Salinas, CA financial advisor team today at 877-930-4015 or start a conversation with us online to take the first step towards growing your wealth how you've always wanted.

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