Financial Advisor in Scottsdale, AZ. You work hard for your money, and you need to feel assured about how it's growing and how it's being used. Numerous Scottsdale residents lack the financial literacy to feel sure they're making the right decisions with their money, while others are too busy or inclination to stay informed on financial markets along with new laws, rules, and different events happening around the world. That's when you need a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Scottsdale, AZ will make your money work for you. We employ in-depth research along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Scottsdale, AZ 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 Scottsdale, AZ? Explore our process page to discover how simple we make it to find out if we would make a good team.
A 2018 study by FINRA found that 53 percent of American adults are anxious about their finances. The root of that anxiety is often simply not being sure they're putting their money in the right places. Once our Scottsdale, AZ financial advisor team gets to know you, your current financial situation and your financial goals, we'll build a road map to help you reach them. As a fiduciary and an independent firm, every Correct Capital financial advisor is required to act in your best interest and we are not limited in the plans we can offer you. Our financial advisors in Scottsdale, AZ have certifications that can only be obtained through rigorous testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who assists individuals oversee their money, plan their finances, 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 generational wealth transfers. 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 qualifications from organizations such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.
Types of Financial Advisors in Scottsdale, AZ
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 oversee 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 amount of investments they manage.
- Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds for their clients or for their own accounts. They must be registered by 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 example, an individual 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 training and adhere to the highest ethical standards, particularly a fiduciary duty to their clients. CFPs provide a vast spectrum of financial planning services, ranging from managing debt to planning for retirement, and investment strategies. Their approach is holistic, intended to satisfy every facet of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed education similar to CFPs and are also bound by a fiduciary duty. They focus on offering holistic financial advice, encompassing areas such as estate planning to retirement strategies, ensuring that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Concentrate on improving clients' financial literacy, assisting with fundamentals such as saving money and creating budgets. They are perfect for clients who don't have the financial resources to hire a financial advisor just yet. Financial coaching provides a solid foundation for managing personal finances wisely, particularly for those just starting out.
- Wealth Managers: Cater to high-net-worth individuals, offering comprehensive services that include estate planning, tax assistance, and investment management. They work closely with their clients to manage complex financial situations and develop wealth preservation strategies. Their skill set is tailored for maximizing the financial health and legacy of affluent clients, ensuring that their clients' goals and aspirations are met through tailored advice and strategies.
Each type of financial advisor provides unique expertise and services to the table. At Correct Capital, our group of advisors boasts CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, ensuring that we act solely in the best interest of our clients across all our engagements.
What Does a Financial Advisor Do?
A financial advisor will evaluate your present finances, ascertain means to enhance it, and help you meet your long-term financial goals. Many Scottsdale, AZ residents often immediately think of investing when they hear wealth management services and financial advisors. While that is a fundamental part of any financial plan, an experienced financial advisor will be able to give you extensive financial advice that takes into consideration the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Scottsdale, AZ will implement to help you accomplish your goals.
- Financial Planning
Our money is involved in almost anything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a house, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Scottsdale, AZ offer all-encompassing services and bespoke consulting by considering your entire financial situation.
- Tax Planning
Tax considerations play a role in nearly every financial transaction and transfer. According to the IRS's own data, over 70 percent of Americans pay more than necessary in taxes every year. The United States tax code is incredibly complicated, yet it allows for perfectly legal means to minimize taxes owed. A professional and trustworthy Scottsdale, AZ financial advisor will assist you in navigating your tax implications in the interest 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 stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as real estate. A financial advisor in Scottsdale, AZ will assist to allocate and diversify your assets to mitigate risk and strategically position your money for long-term growth.
- Retirement Planning
Depending on where you stand in life and your desired lifestyle when you hang up your cape, your Scottsdale, AZ financial advisor will help with tax implications, evaluating the best age to retire, when to withdraw money and how much to take out. A financial advisor will aid in creating a budget and strategy for where your income will come from in retirement so you can enjoy your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Scottsdale, AZ businesses and business owners. Implementing a 401(k) plan is a great way to maintain your best employees and keep them productive and happy. Our retirement consultants represent over $218 million in plan assets and hundreds of plan participants nationwide. Our Scottsdale, AZ financial advisor team offers extensive 401(k) planning for companies as well as customized benefits for their employees.
- 401(k) Rollover
When moving to a new job, it can be difficult to know the best way to handle the money you've accumulated in a previous Scottsdale, AZ employer's 401(k) plan. You have a number of options, such as 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 variety of IRA accounts. A financial advisor will be skilled in how to best manage managing your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's common to want to leave a legacy and pass on some wealth to the people you care about the dearly. Wealth transfers are distinct from merely leaving gifts behind in estate planning. A financial advisor in Scottsdale, AZ 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 important to pick one who has received accreditations and certifications from regulatory authorities such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Scottsdale, AZ financial advisor at Correct Capital must observe a "Code of Ethics and Standards of Conduct" to:
- Act with honesty, integrity, competence, and diligence.
- Act in the client's best interest.
- Exercise due care.
- Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
- Maintain confidentiality and protect the privacy of client information.
- Act in a manner that reflects positively on the financial planning profession and CFP® certification.
- Debt Management
Financial advisors offer customized debt management plans that focus on managing debt, achieving lower interest rates where possible, and prioritizing repayments. The goal is to create a workable path forward that matches your financial situation 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 Scottsdale, AZ can assist clients grasp your income level, identify areas for savings, and set realistic spending limits that encourage wealth accumulation. By providing tools and strategies for efficient budgeting, advisors guarantee that clients can meet their current financial obligations while also saving for future goals.
When you hire a Scottsdale, AZ financial advisor at Correct Capital, we begin by getting to know you and your objectives. We will assess your current income, assets, investments, debts, and expenses. After we've accomplished that, we'll work in tandem with you to establish your preferred risk tolerance and how we can best help you grow your wealth. As an independent advisory firm, our only job 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 Speak to a Financial Advisor in Scottsdale, AZ?
Seeking the guidance of a financial advisor can be a key step towards achieving financial well-being, peace of mind, and wealth. While the ideal moment can vary widely from person to person, certain life events and circumstances often signal the need for expert financial advice.
- Major Life Changes: Life is a long line of 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 assist you navigate these changes, ensuring that your financial plan grows to meet your new situation and goals.
- Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances By Yourself: Managing personal finances can be complicated, time-consuming, and, frankly, daunting for many. If you don't have the knowledge to successfully handle your investments, or simply prefer to focus your energy elsewhere, a financial advisor can be crucial. They bring insight and objectivity to your financial decisions, assisting to enhance your portfolio, avoid costly mistakes, and set up your investments for long-term growth.
- Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can assist you evaluate 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 plethora 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 knowledge can be vital. They can help you comprehend the risks and benefits, ensuring that any investment fits your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is crucial whenever you hire someone to do something, but particularly so when it involves your finances. In addition to finding a reliable advisor, you need one whose specialties align with 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 experience, including their years in the industry, the varieties of clients they've assisted, and their expert areas, can offer you a sense of their proficiency and whether they're equipped to tackle your financial situation.
- What are your qualifications and certifications?
Ask them to mention any certifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require fulfilling rigorous educational, experience, and ethical standards, indicating a high level of professionalism 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 be in harmony with your aspirations and expectations.
- How do you usually communicate with clients?
Communication style and frequency are vital to a fruitful client-advisor relationship. Discuss how often you'll have meetings, whether they'll be face-to-face or online, and how the advisor expects to keep you updated about your investments and financial 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 make certain that their recommendations are 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 legally required to put your interests ahead of their own, giving advice that is in the best interest of your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide holistic financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of client education and portfolio reviews. Understanding 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 negatively impact their clients' financial plans. Fiduciary advisors must make known 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 Scottsdale, AZ?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions make their earnings through commissions on the financial products they offer, such as mutual funds. This fee structure can create a potential conflict of interest, as the advisor might be incentivized to suggest products that generate higher commissions instead of those that are most suited to your financial goals. 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: Fee-only advisors 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 clear and in line with the client's best interests, as it minimizes conflicts of interest related to product sales.
- Fee-Based: Fee-based advisors use a combination of fees paid by the client and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, such advisors typically also have a fiduciary duty, which means that even if they get commission from certain products, they must reveal this 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 Scottsdale, AZ
Correct Capital is distinguished in the Scottsdale, AZ financial advisory landscape for its customized 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 Scottsdale, AZ:
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 ongoing management. This service is great for individuals who are largely confident in managing their finances but seek professional validation to ensure they're setting their money up for success in the best way. Our team performs a thorough review of your financial landscape, providing you with a detailed plan that addresses your specific goals, concerns, and opportunities for growth.
Subscription (best for collaborators)
Our subscription service is designed for people 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 be managing your portfolio, we'll work 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 hand over 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 planning and preparing for retirement 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 long-term goals.
Why Choose Correct Capital as Your Scottsdale, AZ Financial Advisor?
Correct Capital is a leading choice for individuals and families in Scottsdale, AZ seeking reliable, expert financial guidance. Here's why choosing Correct Capital can make a profound 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 in a way that aligns most closely with your goals.
- Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent signifies we are not tied to any financial institution or product, allowing us the freedom to choose the best investments and strategies for you.
- Professional Credentials: 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 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 have over 100 years of combined experience.
- Proactivity is Our Approach: 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 in-depth research and analytics, our aim is to craft the most appropriate strategy for your needs.
- Ongoing Education and Resources: We offer at Correct Capital quarterly webinars and workshops aimed at keeping you up-to-date and engaged with your financial health. Our commitment to client education ensures that you are well-equipped to make informed decisions alongside your advisor.
Choosing Correct Capital as your financial advisor in Scottsdale, AZ 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 seeking to achieve their financial goals and secure their future.
Other services we offer in Scottsdale, AZ include:
Call Correct Capital's Scottsdale, AZ Financial Advisor Team Today
The decisions you make about your finances and the decisions you make with it are deeply personal. At Correct Capital, we strongly believe that the relationship between a person, household, or business owner in Scottsdale, AZ and their financial advisor is founded on mutual trust. Dedicating our lives to helping our clients achieve 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. Reach out to our Scottsdale, AZ financial advisor team today at 877-930-4015 or get in touch with us online to begin growing your wealth in the manner you desire.
