Financial Advisor in Springfield, MA

Financial Advisor in Springfield, MA. Your hard-earned money deserves attention, and you want to feel secure about how it's growing and how it's being used. Many Springfield residents lack the financial literacy to feel like they can handle their investments and finances by themselves, while others simply don't have the time or inclination to stay up to date on market trends along with new laws, rules, and global events. That's when you need a dependable, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Springfield, MA will make your money work for you. We use in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Springfield, MA and beyond. Reach out to us today at 877-930-4015 or contact us online to learn how Correct Capital can help you.

Uncertain if you're ready to work with a financial advisor in Springfield, MA? Take a look at our process page to see how straightforward we make it to ascertain if we would make a good team.

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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

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A 2018 study by FINRA revealed that 53 percent of American adults are nervous about their finances. The cause of that anxiety is often just not being sure they're making the right decisions with their money. Once our Springfield, MA financial advisor team gets to know you, your finances and your financial goals, we'll design a road map to help you realize them. As a fiduciary and an independent firm, every Correct Capital financial advisor is obligated to act in your best interest and we are not limited in the plans we can suggest. Our financial advisors in Springfield, MA have certifications that can only be awarded through exhaustive testing and by meeting stringent education requirements.

What Is a Financial Advisor?

A financial advisor is a specialist who helps individuals manage their money, plan their finances, put enough money away, and plan for their financial future. This role includes a spectrum of services, from portfolio management and retirement planning to tax planning and estate planning. Financial advisors take a holistic view of your financial situation to advise on strategies that match your goals, risk tolerance, and time horizon. 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 can only be achieved through rigorous education and exams.

Types of Financial Advisors in Springfield, MA

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 provide advice on securities and manage investment portfolios. They often work in RIAs and are required to serve as fiduciaries, meaning they must act within a client's best interest. 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 buy and sell securities like stocks, bonds, and mutual funds on behalf of 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 depend on their specific licenses, such as Series 6 or Series 7. For instance, a broker who has a Series 7 license is qualified to sell 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 adhere to the highest ethical standards, including a fiduciary duty to their clients. CFPs provide a vast spectrum of financial advisory services, ranging from debt management to retirement planning, and estate planning. Their methodology is comprehensive, intended to address all aspects of a client's financial life.
• Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have completed education similar to CERTIFIED FINANCIAL PLANNER™ Professionals and also adhere to a fiduciary duty. They specialize in offering holistic financial advice, covering everything from estate planning to tax advice, guaranteeing that customers' financial goals are met with the highest ethical standards.
• Financial Coaches: Focus on boosting clients' financial literacy, assisting with fundamentals such as saving money and budgeting. They are perfect for clients who are not yet wealthy enough to work with most financial advisors. Their services offers a good starting point for handling personal finances effectively, especially for those just starting out.
• Wealth Managers: Serve high-net-worth individuals, offering a broad array of services that encompass estate planning, tax help, and investment management. They partner closely with their clients to handle complex financial situations and formulate wealth preservation strategies. This expertise is focused on enhancing the financial health and future of those with substantial assets, guaranteeing that all investments and planning strategies meet personalized advice and approaches.

Each type of financial advisor provides unique expertise and services to the table. At Correct Capital, our team of advisors boasts CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act only 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, identify means to improve it, and help you reach your future financial goals. A lot of Springfield, MA residents typically immediately think of investing when they consider wealth management services and financial advisors. While that is a essential part of any financial plan, an accomplished financial advisor will be able to give you comprehensive financial advice that gives consideration to the entirety of your finances. The following are some of the services your Correct Capital financial advisor in Springfield, MA will utilize to help you achieve your objectives.

• Financial Planning

  Our money is involved in almost anything we do, from making sure we're set up in retirement, to education, buying and/or selling a home, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Springfield, MA offer holistic services and bespoke consulting by considering your entire financial situation.

• Tax Planning

  Tax considerations play a role in virtually 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 offers perfectly legal means to reduce your tax liability. A skilled and ethical Springfield, MA financial advisor will assist you in navigating your tax implications to ensure keeping more money in your pocket.

• 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 alternative assets such as real estate. A financial advisor in Springfield, MA will help to allocate and diversify your assets to mitigate risk and optimally 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 Springfield, MA financial advisor will assist with tax implications, evaluating the best age 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 just how you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Springfield, MA businesses and business owners. Introducing a 401(k) plan is a fantastic way to keep 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 Springfield, MA financial advisor team offers thorough 401(k) planning for companies as well as personalized benefits for their employees.

• 401(k) Rollover

  When moving to a new job, it can be challenging to know the best way to deal with the money you've accumulated in a previous Springfield, MA employer's 401(k) plan. You have several options, such as leaving the money in the account it is in now, moving 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 manage managing your 401(k) funds.

• Generational Wealth Transfers

  You strive for your money, and it's common to desire to leave a legacy and pass on some wealth to the people you care about the most. Wealth transfers are different from merely leaving gifts behind in estate planning. A financial advisor in Springfield, MA can best position your money for both your children but for generations to come, even ones you haven't met yet.

• Fiduciary Advising

  Anyone can give themselves the title of "financial advisor," so it's necessary to pick 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 Springfield, MA financial advisor at Correct Capital is bound by a "Code of Ethics and Standards of Conduct" to:

1. Act with honesty, integrity, competence, and diligence.
2. Act in the client's best interest.
3. Exercise due care.
4. Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
5. Maintain confidentiality and protect the privacy of client information.
6. Act in a manner that reflects positively on the financial planning profession and CFP® certification.
• Debt Management

  Financial advisors offer personalized debt management plans that focus on consolidating debt, achieving lower interest rates where possible, and prioritizing repayments. The goal is to create a workable path forward that aligns with your financial capabilities and goals, eventually leading to financial freedom.

• Budgeting

  Creating and sticking to a budget is crucial to achieving financial health and goals. Financial advisors in Springfield, MA can help clients understand their cash flow, identify areas to spend less, and set realistic spending limits that facilitate wealth accumulation. By providing tools and strategies for efficient budgeting, advisors ensure that clients can meet their current financial obligations while also planning for future goals.

When you hire a Springfield, MA financial advisor at Correct Capital, we start by getting to know you and your aims. We will analyze your current income, assets, investments, debts, and expenses. Once we've accomplished that, we'll work with you to ascertain your preferred risk tolerance and how we can best help you reach your goals. As an independent advisory firm, our only obligation is to act in your best interest. There is no limitation 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.

When Should I Consider Hiring a Financial Advisor in Springfield, MA?

Seeking the guidance of a financial advisor can be a key step towards getting the life and financial security you want. While the optimal timing can vary widely from person to person, certain life events and circumstances often indicate the need for expert 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 profoundly affect your financial landscape. 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 Desire to Manage Your Finances By Yourself: Managing personal finances can be complicated, demanding, and, frankly, overwhelming for many. If you lack the experience to effectively handle your investments, or simply prefer to spend your time elsewhere, a financial advisor can be essential. They bring experience and objectivity to your financial decisions, aiding to improve your portfolio, prevent costly mistakes, and set up your investments for sustainable growth.
• Nearing Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can assist you review your current financial situation, determine your retirement needs, and craft a plan to ensure you can live comfortably during your retirement years comfortably. This includes strategies for Social Security benefits, pension management, and withdrawal plans from retirement accounts.
• Complex Financial Products: The financial market offers a myriad 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 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 crucial whenever you hire someone to do something, but particularly so when it involves your hard-earned money. Beyond just 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 background, including their years in the industry, the kinds of clients they've collaborated with, and their specializations, can offer you a sense of their skills and whether they're prepared to handle 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 meeting demanding education, experience, and ethical standards, indicating a high level of expertise and expertise.

• What is your investment philosophy?

  An advisor's investment philosophy should complement 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 goals 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 be able to meet with your advisor, whether they'll be face-to-face or online, and how the advisor expects 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 either get money from fees/a percentage of your assets, commission from selling financial products, or a mixture thereof. Grasping how an advisor is compensated will assist you in identifying potential biases and make certain that their recommendations are given with your best interests in mind.

• Are you a fiduciary financial advisor?

  Confirming that an advisor serves as a fiduciary is essential. This means they are legally required to put your interests ahead of their own, offering advice that optimally benefits 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 educational resources and portfolio reviews. Grasping 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 transparently share potential conflicts of interest and how they manage them to ensure they don't harm their clients' financial plans. Fiduciary advisors must reveal 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 Springfield, MA?

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

1. Commission-Based: Advisors who earn through commissions earn their income through commissions on the products they sell, such as mutual funds. This fee structure can lead to a potential conflict of interest, as the advisor might be incentivized 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 recommend products that can help you achieve your goals, but not necessarily the ones most appropriate to your needs.
2. Fee-Only: Fee-only advisors 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 a percentage of the assets under management (AUM). This model is frequently regarded as more transparent and in line with the client's best interests, as it minimizes conflicts of interest related to product sales.
3. Fee-Based: Advisors with a fee-based approach use a combination of fees paid by the client and commissions from selling financial products. While this model offers a blend of the fee-only and commission-based structures, such advisors generally 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 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 Springfield, MA

Correct Capital is distinguished in the Springfield, MA financial advisory landscape for its customized approach to wealth management and financial planning. Recognizing that not all clients have the same starting point or the same goals, we offer a variety of service models to our clients in Springfield, MA:

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 are looking for 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 is designed for people who value ongoing guidance and advice as their financial situation changes, or when they have specific questions about something related to their finances. This model offers monthly updates from our financial advisors, quarterly meetings, and availability on an as-needed basis. While we won't be managing your portfolio, we'll strive to look for opportunities to help you grow and save your wealth.

Wealth Management (best for delegators)

Our wealth management service model is for clients who choose to 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 considerations and beyond. Our wealth management clients enjoy peace of mind, 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 achieving their long-term goals.

Why Choose Correct Capital as Your Springfield, MA Financial Advisor?

Correct Capital is a premier choice for individuals and families in Springfield, MA seeking trusted, professional 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 are 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. Our independence means we are not tied to any financial institution or product, enabling us the freedom to choose 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. Leveraging the latest data and software to analyze trends, we prepare 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 dedication to client education ensures that you are fully prepared to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Springfield, MA means joining forces with a team dedicated to your financial success. Our experience, fiduciary commitment, and personalized approach to financial planning and investment management make us the ideal partner for individuals and families seeking to achieve their financial goals and safeguard their future.

Other services we offer in Springfield, MA include:

• 401(k) Audit
• High-Net-Worth Wealth Management
• Retirement Planner
• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor
• Self-Employed Retirement Plans

Call Correct Capital's Springfield, MA Financial Advisor Team Today

The decisions you make about your finances and the choices you make with it are inherently personal. At Correct Capital, we firmly believe that the relationship between a person, household, or business owner in Springfield, MA and their financial advisor is based on mutual trust. Dedicating our lives to helping our clients realize their financial and personal goals, be it sending your children to college or finally achieving the dream of owning that dream car in retirement. Contact our Springfield, MA financial advisor team today at 877-930-4015 or start a conversation with us online to begin growing your wealth in the manner you desire.

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