Financial Advisor in Santa Clarita, CA. Your hard-earned money deserves attention, and you want to feel assured about how it's growing and how it's being used. Numerous Santa Clarita residents do not have the financial literacy to feel like they can handle their investments and finances by themselves, while others simply don't have the time or interest to stay informed on market trends along with new laws, rules, and different events happening around the world. That's when you should consider hiring a dependable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Santa Clarita, CA will help your finances grow. We use in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Santa Clarita, CA and beyond. Call us today at 877-930-4015 or contact us online to learn how Correct Capital can help you.
Not sure if you're ready to work with a financial advisor in Santa Clarita, CA? Check out our process page to discover how straightforward we make it to determine if you're a good fit.
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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 anxious about their finances. The root of that anxiety is frequently simply not being sure they're managing their money correctly. After our Santa Clarita, CA financial advisor team gets to know you, your finances and your financial aims, we'll design a road map to help you realize 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 plans we can endorse. Our financial advisors in Santa Clarita, CA have certifications that can only be gained through exhaustive testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who helps individuals manage their money, plan their finances, save, and prepare for their financial future. This broad definition covers a spectrum of services, from investment 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, credible 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 Santa Clarita, CA
There are several types of advisors that vary based on the services they provide, their compensation models, their professional expertise, and their legal obligations to customers:
- Investment Advisors or Portfolio Managers: These professionals offer advice on securities and manage investment portfolios. They're commonly associated with RIAs and are required to act in a fiduciary capacity, prioritizing their clients' interests above their own. 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 themselves. They must register with 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 instance, an advisor who has a Series 7 license represents general securities, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP designation have undergone extensive education and uphold high ethical standards, including a fiduciary duty to their customers. CFPs provide a broad range of financial planning services, such as debt management to retirement planning, and tax optimization strategies. Their methodology is comprehensive, designed to satisfy all aspects of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have undergone education comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and also adhere to a fiduciary duty. They specialize in providing holistic financial advice, encompassing areas such as estate planning to retirement strategies, guaranteeing that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Are dedicated to improving clients' financial literacy, helping with fundamentals such as saving money and creating budgets. They are perfect for clients who don't have the wealth to hire a financial advisor just yet. This type of guidance offers a solid foundation for handling personal finances wisely, especially for those just starting out.
- Wealth Managers: Cater to 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 implement wealth preservation strategies. This expertise is tailored for enhancing the financial health and future of wealthy individuals, making sure that their clients' goals and aspirations are met through personalized advice and solutions.
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 group of advisors features CFPs and other qualified professionals who embody 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 asses your current financial situation, pinpoint ways to improve it, and help you accomplish your long-term financial goals. A lot of Santa Clarita, CA residents frequently immediately think of investing when they hear wealth management services and financial advisors. While that is a central component of any financial plan, a qualified financial advisor will be able to offer you comprehensive financial advice that takes into consideration the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Santa Clarita, CA will implement to help you realize your goals.
- Financial Planning
Our finances are integral to almost everything we do, from making sure we're prepared for retirement, to paying for college, buying and/or selling a home, choosing insurance policies, and putting food on the table each night. The best financial advisors in Santa Clarita, CA offer all-encompassing services and bespoke consulting by considering your entire financial situation.
- Tax Planning
Taxes are involved almost any time money is exchanged or used. According to the IRS's own data, more than 70 percent of Americans overpay in taxes every year. The United States tax code is incredibly complicated, yet it offers perfectly legal ways to lower your taxes. A skilled and ethical Santa Clarita, CA financial advisor will help you navigate your tax implications to ensure 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 equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as art. A financial advisor in Santa Clarita, 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 currently are in life and your aspired lifestyle when you hang up your cape, your Santa Clarita, CA financial advisor will help with tax planning, evaluating the optimal time to retire, when to withdraw money 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 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 Santa Clarita, CA businesses and business owners. Implementing a 401(k) plan is a fantastic way to retain your best employees and keep them productive and happy. Our retirement consultants oversee over $218 million in plan assets and hundreds of plan participants nationwide. Our Santa Clarita, CA financial advisor team offers comprehensive 401(k) planning for companies as well as personalized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be difficult to know the best way to handle the money you've already saved in a previous Santa Clarita, CA employer's 401(k) plan. You have a number of options, such as keeping the money in the account it is in now, moving it to a new 401(k), or putting the money in one of a selection of IRA accounts. A financial advisor will know how to best manage 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 leave some wealth to the people you care about the dearly. Wealth transfers are separate from merely leaving gifts behind in estate planning. A financial advisor in Santa Clarita, CA can strategically plan your money for not only your children but for generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's crucial to pick one who has accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Santa Clarita, CA financial advisor at Correct Capital must act in accordance with 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 managing debt, achieving lower interest rates if feasible, and structuring repayments. The goal is to create a workable path forward that aligns with your financial capabilities and goals, ultimately 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 Santa Clarita, CA can help clients understand your income level, find areas to spend less, and set realistic spending limits that promote growing your wealth. By providing tools and strategies for effective budgeting, advisors ensure that clients can satisfy their current financial obligations while also preparing for future goals.
When you hire a Santa Clarita, CA financial advisor at Correct Capital, we begin by getting to know you and your goals. We will assess your current income, assets, investments, debts, and expenses. After we've done that, we'll work with you to ascertain your preferred risk tolerance and how we can best help you accomplish your goals. As an independent advisory firm, our only obligation is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can offer you, 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 Santa Clarita, CA?
Seeking the assistance of a financial advisor can be a vital step towards getting the life and financial prosperity you want. While the optimal timing can vary widely from person to person, certain life events and circumstances often signal the need for professional financial advice.
- Major Life Transitions: Life is a series of transitions, and many of them have significant financial implications. Whether you're buying a home or changing careers, these milestones can significantly affect how your money should be used and invested. A financial advisor can help you manage these changes, ensuring that your financial plan evolves to meet your new circumstances and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complex, time-consuming, and, frankly, daunting for many. If you don't have the knowledge to effectively handle your investments, or simply choose to spend your time on other pursuits, a financial advisor can be crucial. They bring insight and wisdom to your financial decisions, helping to enhance your portfolio, prevent costly mistakes, and set up your investments for sustainable growth.
- Getting Close to Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can assist you assess your current financial situation, estimate your retirement needs, and craft a plan to ensure you can experience 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 complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's insight can be vital. They can guide you grasp the risks and benefits, ensuring that any investment matches your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is essential when you're hiring someone for any service, but especially so when it comes to your finances. In addition to finding a reliable advisor, you need one who best meets your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's track record, including their years in the industry, the kinds of clients they've assisted, and their expert areas, can provide you a sense of their skills and whether they're well-suited to tackle your financial situation.
- What are your qualifications and certifications?
Inquire about any certifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require fulfilling rigorous educational, experience, and ethical standards, indicating a high level of competence and expertise.
- What is your investment philosophy?
An advisor's investment philosophy should match your risk tolerance and financial goals. Whether they favor a conservative approach with a focus on long-term growth or a more aggressive strategy, their philosophy should resonate with your aspirations and expectations.
- How do you usually communicate with clients?
Communication method and frequency are crucial to a fruitful client-advisor relationship. Ask about how often you'll have meetings, whether they'll be in person or virtual, and how the advisor plans to keep you updated about your investments and financial plan.
- How are you compensated for your services?
Advisors can be fee-only, commission-based, or a mixture thereof. Understanding how an advisor is compensated will enable you to discern potential conflicts of interest and make certain that their advice is given with your best interests in mind.
- Are you a fiduciary financial advisor?
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, giving advice that optimally benefits 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. Grasping 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 manage them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must reveal conflicts of interest, and are required to manage them in their client's best interest.
Asking these questions will not only provide you with essential information about the financial advisor's qualifications and approach but also enable you to assess whether there is a good personal fit. Remember, a strong relationship with your financial advisor is built on transparency, trust, and mutual understanding.
You can find many of these questions answered on our FAQ page.
How Much Does a Financial Advisor Cost in Santa Clarita, CA?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors make their earnings through commissions on the products they sell, such as other financial products. This fee structure can create a potential conflict of interest, as the advisor might be incentivized to recommend options that generate higher commissions instead of those that best meet your needs. These advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to advise on products that can help you achieve your goals, but not necessarily the ones most appropriate 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: Advisors with a fee-based approach 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 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 Santa Clarita, CA
Correct Capital stands out in the Santa Clarita, CA 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 three different service models to our clients in Santa Clarita, CA:
One-Time Financial Plan (best for validators)
This service model is best for those who are looking for the insights and advice a financial advisor can offer without the continuous oversight. This service is great for individuals who are largely confident in managing their finances but desire professional insight to confirm they're on the right track. Our team conducts a thorough review of your current financial situation, 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 appreciate ongoing guidance and advice as their financial situation evolves, or when they have specific questions about taxes, investments, or other aspects of their finances. This model offers monthly insights from our financial advisors, quarterly meetings, and open availability if the need ever arises. While we won't manage your investments for you, we'll strive to look for opportunities to help you save and grow 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 portfolio management, strategic financial planning, and proactive advice on a wide range of financial matters — from tax strategies and retirement planning to estate planning and beyond. Our wealth management clients enjoy peace of mind, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals dedicated to maximizing their wealth and realizing their financial goals.
Why Choose Correct Capital as Your Santa Clarita, CA Financial Advisor?
Correct Capital is a leading choice for individuals and families in Santa Clarita, CA looking for reliable, expert financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:
- We are Fiduciary Advisors: As fiduciaries, Correct Capital is legally obligated to act in your best interests. This commitment ensures 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: All the advice we offer is independent, objective, and unbiased. Our independence signifies 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. Additionally, 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.
- Continuous Learning Opportunities: Correct Capital offers 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 Santa Clarita, CA 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 safeguard their future.
Other services we offer in Santa Clarita, CA include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
Call Correct Capital's Santa Clarita, CA 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, household, or entrepreneur in Santa Clarita, CA and their financial advisor is founded on trust. Dedicating our lives to guiding our clients realize 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. Contact our Santa Clarita, 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.
