Financial Advisor in Scottsdale, AZ. You work hard for your money, and you need to be assured about how it's growing and how it's being used. Many Scottsdale residents lack the financial literacy to feel confident they're making the best decisions with their money, while others simply don't have the time or interest to stay informed on financial markets along with new laws, rules, and different events happening around the world. That's when you should consider hiring a reliable, 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 decades of experience to create personalized financial solutions for individuals, families, and businesses in Scottsdale, AZ and beyond. Speak to a team member today at 877-930-4015 or contact us through our website to learn how Correct Capital can help you.
Not sure if you're ready to work with a financial advisor in Scottsdale, AZ? Check out our process page to see how easy we make it to determine if we would make a good team.
Schedule a Meeting With an Advisor Today
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.
Schedule a 15-Minute Introductory Call
More From Correct Capital Wealth Management
Explore how Correct Capital Wealth Management can help guide you toward smarter decisions, clearer goals, and lasting financial success.
Subscribe To Our Newsletter Listen To Our Podcast Watch Our YouTube Channel
A 2018 study by FINRA revealed that 53 percent of American adults are worried about their finances. A source of that anxiety is often simply not being sure they're making the right decisions with their money. After our Scottsdale, AZ financial advisor team gets to know you, your current financial situation and your financial aims, we'll implement a road map to help you accomplish them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically bound to act in your best interest and we are not limited in the options we can put forward. Our financial advisors in Scottsdale, AZ have certifications that can only be awarded through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a specialist who helps individuals oversee their money, plan their finances, put enough money away, and prepare for their financial future. This wide-ranging definition 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 be called a financial advisor or financial planner, trustworthy 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 Scottsdale, AZ
There are various types of advisors that vary based on the services they offer, their compensation models, their areas of expertise, and their legal obligations to customers:
- Investment Advisors or Portfolio Managers: These professionals offer advice on securities and manage investment portfolios. They're often associated with RIAs and are required to act in a fiduciary capacity, meaning they always have the client's best interest at heart. Investment advisors are registered with either the Securities and Exchange Commission (SEC) or state regulators, depending on the assets under management.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds on behalf of 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 depend on their specific licenses, such as Series 6 or Series 7. For instance, 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 holding the CFP designation have undergone extensive education and uphold the highest ethical standards, including a fiduciary duty to their customers. CFPs offer a vast spectrum of financial advisory services, such as managing debt to retirement planning, and tax optimization strategies. Their methodology is holistic, intended to satisfy all aspects of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed education comparable with CFPs and also adhere to a fiduciary duty. They focus on providing comprehensive financial advice, covering everything from investment management to retirement strategies, ensuring that customers' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Are dedicated to boosting clients' financial literacy, helping with basics such as saving money and creating budgets. They are suited for clients who might not have the wealth to hire a financial advisor just yet. This type of guidance provides a solid foundation for handling personal finances effectively, particularly for those looking to take the first step towards financial wellbeing.
- Wealth Managers: Specialize in serving 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 formulate wealth preservation strategies. Their skill set is tailored for enhancing the financial health and future of affluent clients, ensuring that all investments and planning strategies meet customized advice and strategies.
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 represent the highest standards of fiduciary responsibility and personalized service, ensuring that we act exclusively in the best interest of our clients in all of our advice and dealings.
What Does a Financial Advisor Do?
A financial advisor will analyze your present finances, ascertain ways to enhance it, and help you reach your future financial goals. A lot of Scottsdale, AZ residents commonly 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 provide you with overarching financial advice that takes into consideration the whole of your finances. Below are some of the services your Correct Capital financial advisor in Scottsdale, AZ will implement to help you meet your goals.
- Financial Planning
Our finances are a part of almost everything we do, from making sure we're set up in retirement, to education, real estate deals, choosing insurance policies, and putting food on the table each night. The best financial advisors in Scottsdale, AZ offer all-encompassing services and personalized guidance by taking into account your entire financial situation.
- Tax Planning
Taxes are involved in nearly every financial transaction and transfer. According to the IRS's own data, more than 70 percent of Americans pay more than necessary in taxes each year. The United States tax code is incredibly complicated, yet it allows for perfectly legal ways to reduce your tax liability. A skilled and ethical Scottsdale, AZ financial advisor will assist you in navigating your tax implications in the interest of keeping more money in your hands than in Uncle Sam's.
- Portfolio Management and Asset Management
Your financial portfolio is the aggregation 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 help in allocating and diversify your assets in order to mitigate risk and optimally position your money for long-term growth.
- Retirement Planning
Depending on where you currently are in life and the kind of life you want to live when you retire, your Scottsdale, AZ financial advisor will assist with tax planning, evaluating the optimal time to retire, when to make withdrawals 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 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 keep your best employees and keep them satisfied and happy. Our retirement consultants oversee over $218 million in plan assets and numerous of plan participants nationwide. Our Scottsdale, AZ financial advisor team offers comprehensive 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 Scottsdale, AZ employer's 401(k) plan. You have a number of options, including leaving 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 be skilled in how to best navigate handling your 401(k) funds.
- Generational Wealth Transfers
You earn your money, and it's common to desire to leave a legacy and pass on some wealth to the people you care about the dearly. Wealth transfers are different 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 future generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's paramount to pick one who has earned accreditations and certifications from regulatory boards 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 obey 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 consolidating debt, securing lower interest rates where possible, and prioritizing repayments. The goal is to create a manageable path forward that aligns with your financial capabilities and goals, ultimately leading to stability.
- Budgeting
Creating and staying compliant with a budget is essential to achieving financial health and goals. Financial advisors in Scottsdale, AZ can assist clients grasp their cash flow, find areas for savings, and set realistic spending limits that encourage growing your wealth. By providing tools and strategies for successful budgeting, advisors make sure that clients can satisfy their current financial obligations while also saving for future goals.
When you hire a Scottsdale, AZ financial advisor at Correct Capital, we start by getting to know you and your goals. We will assess your current income, assets, investments, debts, and expenses. Then we've completed that, we'll work in tandem with you to ascertain your preferred risk tolerance and how we can best help you achieve 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 recommend, 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 Scottsdale, AZ?
Seeking the advice of a financial advisor can be a critical step towards getting the life and financial health you want. While the right time can differ greatly from person to person, certain life events and circumstances often signal the need for expert financial advice.
- Major Life Transitions: Life is a series of transitions, and many of them have major 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 adapts to meet your new situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complex, demanding, and, frankly, daunting for many. If you aren't confident to effectively manage your investments, or simply prefer to focus your time elsewhere, a financial advisor can be invaluable. They bring expertise and perspective to your financial decisions, helping 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 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 live comfortably during 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 insight can be essential. They can assist you understand 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 whenever you hire someone to do something, but particularly so when it comes to your hard-earned money. In addition to finding a reliable advisor, you need one who perfectly matches your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:
- What is your experience in the financial advisory field?
Understanding an advisor's track record, including their time spent in the industry, the varieties of clients they've collaborated with, and their specializations, can offer you a sense of their expertise and whether they're equipped to handle your financial needs.
- What are your qualifications and certifications?
Inquire about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require adhering to demanding educational, experience, and ethical standards, indicating a high level of professionalism and expertise.
- What is your investment philosophy?
An advisor's investment philosophy should match your risk tolerance and financial goals. Whether they favor a cautious approach with a focus on long-term growth or a more dynamic strategy, their philosophy should be in harmony with your expectations and expectations.
- How do you usually communicate with clients?
Communication style and regularity are vital to a successful client-advisor relationship. Inquire about how often you'll have meetings, whether they'll be face-to-face or virtual, and how the advisor plans 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 combination thereof. Grasping how an advisor is compensated will assist you in identifying potential conflicts of interest and guarantee that their recommendations are given with your best interests in mind.
- Are you a fiduciary financial advisor?
Confirming that an advisor acts as a fiduciary is vital. This means they are legally obligated to put your interests before their own, offering advice that optimally benefits your financial goals and needs.
- What services do you offer beyond investment management?
Many advisors provide holistic financial planning services, including retirement planning, tax strategies, estate planning, and more. Additionally, some financial advisory firms offer more in the way of educational resources and portfolio reviews. Grasping the full scope of services offered can help you gauge whether the advisor can meet all your financial needs.
- How do you handle conflicts of interest?
An honest advisor will transparently share potential conflicts of interest and how they manage them to ensure they don't adversely affect their clients' financial plans. Fiduciary advisors must disclose 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 Scottsdale, AZ?
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 financial products they offer, such as insurance policies. This fee structure can lead to a potential conflict of interest, as the advisor could be motivated to suggest products that generate higher commissions instead of those that 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 advise on products that can aid in achieving your goals, but not necessarily the ones most appropriate to your needs.
- Fee-Only: Fee-only advisors are compensated straightforwardly by clients for the advice and services they provide and do not receive any commissions from product sales. This compensation can take various shapes, including hourly rates assets under management (AUM). This model is often seen as more clear and aligned 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 fees paid by the client and commissions from selling financial products. While this model offers a mix of the fee-only and commission-based structures, fee-based advisors generally also have a fiduciary duty, which means that even if they get commission from certain products, they must reveal this to the client and are not allowed to recommend those products unless they sincerely believe they are in the client's best interests.
Correct Capital's Financial Advisory Services in Scottsdale, AZ
Correct Capital stands out in the Scottsdale, AZ 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 Scottsdale, AZ:
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 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 growth opportunities.
Subscription (best for collaborators)
Our subscription service caters to people who appreciate consistent 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 work to look for opportunities to help you flourish financially.
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, strategic financial planning, and forward-looking guidance 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 achieving 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 trusted, professional financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:
- We are Fiduciary Advisors: As fiduciaries, we is legally obligated to put your interests first. 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: Every piece of guidance we offer is independent, objective, and unbiased. Being independent signifies we aren't 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 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 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 anticipate trends and lead, rather than follow. Leveraging 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 guarantees that you are well-equipped to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Scottsdale, AZ means joining forces 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 Scottsdale, AZ include:
- Investment Management
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
Call Correct Capital's Scottsdale, AZ Financial Advisor Team Today
Your money and the decisions you make with it are inherently personal. At Correct Capital, we firmly believe that the relationship between a person, household, or business owner in Scottsdale, AZ and their financial advisor is based on trust. Committed to helping our clients realize their financial and personal goals, be it funding higher education for your children or finally achieving the dream of owning that dream car during your retirement years. Reach out to our Scottsdale, AZ financial advisor team today at 877-930-4015 or start a conversation with us online to take the first step towards growing your wealth in the manner you desire.
