Financial Advisor in Savannah, GA. You work hard for your money, and you need to feel secure about how it's being managed and how it's being used. Many Savannah residents do not have the financial literacy to feel confident they're making the optimal decisions with their money, while others are too busy or inclination to stay informed on market trends along with new laws, regulations, and different events happening around the world. That's when you should consider hiring a reliable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Savannah, GA 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 Savannah, GA 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.
Not sure if you're ready to work with a financial advisor in Savannah, GA? Check out our process page to find out how straightforward we make it to find out 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 cause of that apprehensiveness is often just not being sure they're putting their money in the right places. After our Savannah, GA financial advisor team gets to know you, your finances and your financial aims, we'll build a road map to help you achieve 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 put forward. Our financial advisors in Savannah, GA have certifications that can only be gained through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who helps individuals oversee their money, plan their finances, save, and plan for their financial future. This role covers 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 suggest strategies that match your goals, risk tolerance, and time horizon. While technically anyone can call themselves 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 Savannah, GA
Financial advisors can operate under different titles:
- Investment Advisors or Portfolio Managers: These advisors offer advice on securities and manage investment portfolios. They're commonly associated with RIAs and are required to serve as fiduciaries, meaning they must act within a client's best interest. Portfolio managers are certified with either the Securities and Exchange Commission (SEC) or state regulators, depending on the size of the assets they manage.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds for their clients or for their own accounts. They must register with 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, someone who has a Series 7 license represents general securities, such as mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals with the CFP designation have undergone extensive education and adhere to high ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs offer a wide array of financial advisory services, such as debt management to retirement planning, and tax optimization strategies. Their methodology is comprehensive, intended to satisfy every aspect of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have undergone education comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and are also bound by a fiduciary duty. They focus on providing holistic financial advice, encompassing areas such as investment management to tax advice, ensuring that clients' financial goals are met with the highest ethical standards.
- Financial Coaches: Are dedicated to enhancing clients' financial literacy, helping with basics such as saving money and creating budgets. They are ideal for clients who might not have the wealth to hire a financial advisor just yet. Their services provides a solid foundation for handling personal finances efficiently, especially for those just starting out.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering a broad array of services that encompass estate planning, tax assistance, and investment management. They collaborate intimately with their clients to manage complex financial situations and develop wealth preservation strategies. Their skill set is focused on optimizing the financial health and legacy of wealthy individuals, making sure that their clients' goals and aspirations are met through tailored advice and strategies.
Each type of financial advisor brings unique expertise and services to the table. At Correct Capital, our team of advisors features CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, ensuring that we act only in the best interest of our clients across all our engagements.
What Does a Financial Advisor Do?
A financial advisor will analyze your present financial situation, pinpoint methods to improve it, and help you reach your long-term financial goals. Many Savannah, GA residents typically immediately think of investing when they hear wealth management services and financial advisors. While that is a fundamental element of any financial plan, a knowledgeable financial advisor will be able to provide you with all-encompassing financial advice that considers the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Savannah, GA will utilize to help you meet your goals.
- Financial Planning
Our finances are a part of almost everything we do, from making sure we're prepared for retirement, to education, real estate transactions, picking insurance policies, and making sure we have enough to eat every night. The best financial advisors in Savannah, GA offer holistic services and personalized guidance 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 70 percent of Americans pay more than necessary in taxes each year. The United States tax code is incredibly complicated, yet it provides perfectly legal ways to lower your taxes. A professional and trustworthy Savannah, GA financial advisor will guide you through your tax implications with the aim of keeping more money in your hands than in the government's.
- Portfolio Management and Asset Management
Your financial portfolio is the assembly of your financial assets. They can include equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as real estate. A financial advisor in Savannah, GA will help 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 Savannah, GA financial advisor will help with tax planning, 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 source of income 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 Savannah, GA businesses and business owners. Introducing a 401(k) plan is a superb way to maintain your best employees and keep them motivated and happy. Our retirement consultants represent over $218 million in plan assets and hundreds of plan participants nationwide. Our Savannah, GA financial advisor team offers extensive 401(k) planning for companies as well as customized benefits for their employees.
- 401(k) Rollover
When transitioning to a new job, it can be difficult to know the best way to manage the money you've accumulated in a previous Savannah, GA employer's 401(k) plan. You have a number of options, including leaving 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 approach handling your 401(k) funds.
- Generational Wealth Transfers
You work hard for your money, and it's normal to want to leave a legacy and bequeath some wealth to the people you care about the dearly. Wealth transfers are different from just leaving gifts behind in estate planning. A financial advisor in Savannah, GA can best position 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 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 Savannah, GA financial advisor at Correct Capital is bound by a "Code of Ethics and Standards of Conduct" to:
- Act with honesty, integrity, competence, and diligence.
- Act in the client's best interest.
- Exercise due care.
- Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
- Maintain confidentiality and protect the privacy of client information.
- Act in a manner that reflects positively on the financial planning profession and CFP® certification.
- Debt Management
Financial advisors offer 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 suits your financial capabilities and goals, eventually leading to stability.
- Budgeting
Creating and sticking to a budget is crucial to achieving financial health and goals. Financial advisors in Savannah, GA can assist clients understand your income level, spot areas to spend less, and set realistic spending limits that encourage wealth accumulation. By providing resources and strategies for efficient budgeting, advisors ensure that clients can fulfill their current financial obligations while also saving for future goals.
When you hire a Savannah, GA financial advisor at Correct Capital, we start by getting to know you personally and your aims. We will evaluate your current income, assets, investments, debts, and expenses. After we've completed that, we'll work in concert with you to determine your preferred risk tolerance and how we can best help you achieve 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 Hire a Financial Advisor in Savannah, GA?
Seeking the assistance of a financial advisor can be a critical step towards getting the life and financial security you want. While the optimal timing can differ greatly from person to person, certain life events and circumstances often suggest the need for expert financial advice.
- Major Life Transitions: Life is a series of changes, and many of them have significant financial implications. Whether you're starting a family or facing retirement, these milestones can profoundly affect how your money should be used and invested. 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 Desire to Manage Your Finances Alone: Managing personal finances can be complex, demanding, and, frankly, overwhelming for many. If you don't have the knowledge to successfully manage your investments, or simply prefer to spend your energy elsewhere, a financial advisor can be invaluable. They bring experience and wisdom to your financial decisions, aiding to enhance your portfolio, prevent costly mistakes, and set up your investments for future success.
- Getting Close to Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can aid you review your current financial situation, determine 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 myriad 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 aligns with your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is paramount when you're hiring someone for any service, but especially so when it comes to your hard-earned money. Beyond just finding a trustworthy advisor, you need one who ideally suits your needs. It's important to inquire properly 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 types of clients they've collaborated with, and their expert areas, can offer you a sense of their skills and whether they're well-suited to tackle your specific financial circumstances.
- What are your qualifications and certifications?
Ask about any certifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These accreditations often require meeting strict educational, experience, and ethical standards, indicating a high level of expertise 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 conservative approach with a focus on long-term growth or a more aggressive strategy, their philosophy should be in harmony with your expectations and expectations.
- How do you usually communicate with clients?
Communication style and frequency are crucial to a productive client-advisor relationship. Ask about how often you'll be able to meet with your advisor, whether they'll be in person or online, and how the advisor expects 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. Grasping how an advisor is compensated will help you identify potential biases and make certain that their recommendations are offered with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor acts as a fiduciary is vital. This means they are bound by law to put your interests before their own, offering advice that is in the best interest of your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide comprehensive financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of client education and portfolio reviews. Knowing the full scope of services offered can assist you in determining whether the advisor can meet all your financial needs.
- How do you handle conflicts of interest?
An honest advisor will clearly explain potential conflicts of interest and how they deal with 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 give 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 Savannah, GA?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors earn their income through commissions on the products they sell, such as insurance policies. This fee structure can create a possible conflict, as the advisor might be incentivized to suggest options that generate higher commissions rather than those that best meet your needs. Commission-based advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to recommend products that can aid in achieving your goals, but not necessarily the ones most appropriate to your needs.
- Fee-Only: Advisors on a fee-only basis are compensated straightforwardly by clients for the guidance and assistance they provide and do not receive any commissions from product sales. This compensation can take several forms, including a percentage of the assets under management (AUM). This model is frequently regarded 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 generally also have a fiduciary duty, which means that although 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 Savannah, GA
Correct Capital stands out in the Savannah, GA financial advisory landscape for its bespoke approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or identical goals, we offer a variety of service models to our clients in Savannah, GA:
One-Time Financial Plan (best for validators)
This service model is ideal 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 current financial situation, 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 people who value ongoing guidance and advice as their financial situation evolves, or when they have specific questions about something related to their finances. This model offers monthly updates from our financial advisors, regular check-ins every quarter, and availability on an as-needed basis. While we won't manage your investments for you, we'll strive to look for opportunities to help you flourish financially.
Wealth Management (best for delegators)
Our wealth management service model is for clients who prefer to delegate the management of their investments and financial planning to professionals. This includes active investment management, strategic financial planning, and forward-looking guidance on a wide range of financial matters — from tax strategies and preparing for retirement 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 carefully managed by a dedicated team of professionals committed to maximizing their wealth and realizing their financial goals.
Why Choose Correct Capital as Your Savannah, GA Financial Advisor?
Correct Capital is a premier choice for individuals and families in Savannah, GA seeking trusted, professional financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:
- We're Fiduciary Advisors: As fiduciaries, Correct Capital are legally obligated to put your interests first. This commitment ensures that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is done with your best interests in mind.
- Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent means we aren't tied to any financial institution or product, 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 two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Moreover, our retirement consultants and financial portfolio managers boast over 100 years of combined experience.
- We Are Proactive: 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, our aim is to craft the most appropriate strategy for your needs.
- Continuous Learning Opportunities: 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 ensures that you are well-equipped to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Savannah, GA means partnering with a team committed 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 looking to achieve their financial goals and secure their future.
Other services we offer in Savannah, GA include:
Call Correct Capital's Savannah, GA Financial Advisor Team Today
The decisions you make about your finances and the decisions you make with it are inherently personal. At Correct Capital, we firmly believe in the relationship between an individual, household, or entrepreneur in Savannah, GA and their financial advisor is founded on trust. Committed to helping our clients achieve their financial and personal goals, whether it's funding higher education for your children or making the dream purchase of that dream car in retirement. Reach out to our Savannah, GA financial advisor team today at 877-930-4015 or get in touch with us online to begin building your wealth how you've always wanted.
