Financial Advisor in St. Paul, MN

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Financial Advisor in St. Paul, MN. Your hard-earned money deserves attention, and you want to feel confident about how it's growing and how it's being used. Numerous St. Paul residents do not have the financial literacy to feel confident they're making the optimal decisions with their money, while others simply don't have the time or interest to stay informed on market trends along with new laws, regulations, and global events. That's when you should consider hiring a dependable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in St. Paul, MN 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 St. Paul, MN and beyond. Reach out to us today at 877-930-4015 or contact us online to learn how Correct Capital can help you.

Not sure if you're ready to hire a financial advisor in St. Paul, MN? Check out our process page to see how simple we make it to find out if you're a good fit.


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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.

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A 2018 study by FINRA reported that 53 percent of American adults are nervous about their finances. The cause of that apprehensiveness is frequently simply not being sure they're managing their money correctly. After our St. Paul, MN financial advisor team gets to know you, your present financial situation and your financial ambitions, we'll implement 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 options we can put forward. Our financial advisors in St. Paul, MN have certifications that can only be acquired 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, budget, save, and plan for their financial future. This role covers a spectrum 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 be called a financial advisor or financial planner, trustworthy and professional advisors will have accreditations from regulatory bodies such as FINRA and the CFP Board that denote their experience and education.

Types of Financial Advisors in St. Paul, MN

There are several types of advisors that vary based on the services they offer, their compensation models, their professional expertise, and their legal obligations to clients:

  • Investment Advisors or Portfolio Managers: These advisors offer advice on securities and oversee investment portfolios. They often work in RIAs and are required to act in a fiduciary capacity, 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 themselves. They must be registered by 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 example, an individual who holds a Series 7 license is qualified to sell general securities, including mutual funds and exchange-traded funds (ETFs).
  • CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP certification have undergone extensive training and uphold the highest ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs offer a wide array of financial advisory services, including debt management to planning for retirement, and investment strategies. This approach is comprehensive, designed to meet every facet 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 required to hold their clients' interests above their own. They specialize in offering holistic financial advice, encompassing everything from estate planning 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 fundamentals such as saving money and creating budgets. They are ideal for clients who don't have the wealth to hire a financial advisor just yet. Financial coaching delivers a solid foundation for managing personal finances effectively, especially for those just starting out.
  • Wealth Managers: Cater to 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 expertise is geared towards maximizing the financial health and legacy of affluent clients, ensuring that all investments and planning strategies meet customized advice and approaches.

Each type of financial advisor brings 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 across all our engagements.

What Does a Financial Advisor Do?

A financial advisor will evaluate your extant financial situation, identify means to enhance it, and help you realize your future financial goals. A lot of St. Paul, MN residents typically immediately think of investing when they consider wealth management services and financial advisors. While that is a principal facet of any financial plan, a certified financial advisor will be able to give you overarching financial advice that takes into consideration the whole of your finances. Below are some of the services your Correct Capital financial advisor in St. Paul, MN will implement in order to help you realize your goals.

  • Financial Planning

    Our money is a part of almost anything we do, from making sure we're prepared for retirement, to paying for college, buying and/or selling a home, choosing insurance policies, and putting food on the table each night. The best financial advisors in St. Paul, MN offer holistic services and tailored consulting by taking into account 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 7 out of 10 of Americans pay more than necessary in taxes every year. The United States tax code is incredibly complicated, yet it offers perfectly legal ways to lower your taxes. A skilled and ethical St. Paul, MN financial advisor will assist you in navigating your tax implications to ensure keeping more money in your hands than in Uncle Sam's.

  • Portfolio Management and Asset Management

    Your financial portfolio is the collection 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 St. Paul, MN will assist to allocate and diversify your assets to mitigate risk and optimally position your money for growth.

  • Retirement Planning

    Depending on where you stand in life and the kind of life you want to live when you hang up your cape, your St. Paul, MN financial advisor will assist with tax planning, evaluating the optimal time to retire, when to withdraw money and how much to withdraw. A financial advisor will help you formulate a budget and strategy for where your income will come from in retirement so you can live out your golden years exactly the way you want to.

  • 401(k) Services

    We offer 401(k) services to individuals and families as well as St. Paul, MN businesses and business owners. Setting up a 401(k) plan is a fantastic way to keep your best employees and keep them satisfied and happy. Our retirement consultants oversee over $218 million in plan assets and thousands of plan participants nationwide. Our St. Paul, MN financial advisor team offers comprehensive 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 deal with the money you've accumulated in a previous St. Paul, MN employer's 401(k) plan. You have several options, including keeping the money in the account it is currently in, transferring it to a new 401(k), or investing the money in one of a variety of IRA accounts. A financial advisor will have the knowledge how to best navigate managing your 401(k) funds.

  • Generational Wealth Transfers

    You strive for your money, and it's normal to wish to leave a legacy and pass on 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 St. Paul, MN 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 imperative to pick one who has received accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your St. Paul, MN 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 customized debt management plans that focus on consolidating debt, achieving lower interest rates if feasible, and prioritizing repayments. The goal is to create a workable path forward that aligns with your financial capabilities and goals, ultimately leading to stability.

  • Budgeting

    Creating and staying compliant with a budget is crucial to achieving financial health and goals. Financial advisors in St. Paul, MN can assist clients understand their cash flow, spot areas to spend less, and set realistic spending limits that encourage growing your wealth. By providing tools and strategies for successful budgeting, advisors ensure that clients can meet their current financial obligations while also saving for future goals.

When you hire a St. Paul, MN financial advisor at Correct Capital, we start by getting to know you personally and your aims. We will analyze your current income, assets, investments, debts, and expenses. Once we've completed that, we'll work with you to determine your preferred risk tolerance and how we can best help you grow your wealth. As an independent advisory firm, our only responsibility is to act in your best interest. There is no limit to the services, products, and investment opportunities our financial advisor team can suggest, 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 St. Paul, MN?

Seeking the assistance of a financial advisor can be a key step towards achieving financial health, peace of mind, and wealth. While the ideal moment can differ greatly from person to person, certain life events and circumstances often signal the need for professional financial advice.

  • Major Life Changes: 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 dramatically affect your financial landscape. A financial advisor can guide 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 By Yourself: Managing personal finances can be complex, demanding, and, frankly, daunting for many. If you lack the experience to successfully manage your investments, or simply prefer to focus your energy elsewhere, a financial advisor can be invaluable. They bring experience and objectivity to your financial decisions, aiding to improve your portfolio, avoid 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 aid you assess your current financial situation, determine your retirement needs, and craft a plan to ensure you can live comfortably during your retirement years without worry. 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 set of complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's expertise can be vital. They can guide you understand the risks and benefits, ensuring that any investment matches your overall financial strategy and goals.

Questions to Ask a Financial Advisor Before Hiring Them

Trust is essential when you're hiring someone for any service, but especially so when it involves your hard-earned money. Beyond just finding a reliable advisor, you need one who ideally suits your needs. It's important to make the right inquiries during your initial meetings. Here are key questions to consider:

  • What is your experience in the financial advisory field?

    Understanding an advisor's track record, including their years in the industry, the types of clients they've worked with, and their expert areas, can provide you a sense of their skills and whether they're equipped to manage your specific financial circumstances.

  • What are your qualifications and certifications?

    Ask about any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require meeting demanding educational, experience, and ethical standards, signifying a high level of professionalism and expertise.

  • Can you describe 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 dynamic strategy, their philosophy should be in harmony with your goals and expectations.

  • How do you usually communicate with clients?

    Communication method and frequency are vital to a successful client-advisor relationship. Ask about how often you'll have meetings, whether they'll be face-to-face or virtual, and how the advisor expects to keep you updated 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. Understanding how an advisor is compensated will enable you to discern potential biases and ensure 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 crucial. This means they are bound by law to put your interests before their own, giving 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 enable you to assess whether the advisor can meet all your financial needs.

  • How do you handle conflicts of interest?

    An honest advisor will openly discuss potential conflicts of interest and how they address 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 offer essential information about the financial advisor's qualifications and approach but also assist you in determining 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 St. Paul, MN?

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

  1. Commission-Based: Commission-based advisors make their earnings through commissions on the products they sell, such as other financial products. This fee structure can lead to a possible conflict, as the advisor might be incentivized to recommend options 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 aid in achieving your goals, but not necessarily the ones best suited to your needs.
  2. 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 fixed fees assets under management (AUM). This model is often seen as more transparent and aligned with the client's best interests, as it reduces 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, fee-based advisors typically also have a fiduciary duty, which means that although 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 St. Paul, MN

Correct Capital stands out in the St. Paul, MN 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 St. Paul, MN:


One-Time Financial Plan (best for validators)

This service model is best for those who are looking for the guidance and recommendations a financial advisor can offer without the continuous oversight. This service is great for individuals who are largely confident in managing their finances but desire professional insight to confirm they're setting their money up for success in the best way. Our team performs a thorough review of your current financial situation, providing you with a detailed plan that addresses your specific goals, concerns, and growth opportunities.


Subscription (best for collaborators)

Our subscription service caters to individuals who appreciate ongoing guidance and advice as their financial situation 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 won't 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 delegate the management of their investments and financial planning to professionals. This includes active portfolio management, strategic financial planning, and forward-looking guidance on a wide range of financial matters — from tax strategies and preparing for retirement to estate considerations and beyond. Our wealth management clients enjoy a sense of security, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals dedicated to maximizing their wealth and realizing their financial goals.


Why Choose Correct Capital as Your St. Paul, MN Financial Advisor?

Correct Capital is a premier choice for individuals and families in St. Paul, MN looking for trusted, professional financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:

  • We're Fiduciary Advisors: As fiduciaries, Correct Capital are legally obligated to act in your best interests. This commitment guarantees that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is carried out in a way that aligns most closely with your goals.
  • Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Our independence signifies we aren't tied to any financial institution or product, enabling us the freedom to select 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 two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Moreover, our retirement consultants and financial portfolio managers have over 100 years of combined experience.
  • We Are Proactive: We hold the belief that the most valuable way to create long-term financial security is to stay ahead of trends and lead, rather than follow. Leveraging in-depth research and analytics, we prepare the most appropriate strategy for your needs.
  • Ongoing Education and Resources: Correct Capital offers quarterly webinars and workshops aimed at keeping you up-to-date and engaged with your financial health. Our dedication to client education ensures that you are fully prepared to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in St. Paul, MN means joining forces with a team dedicated to your financial success. Our expertise, fiduciary commitment, and personalized approach to financial planning and investment management make us the perfect choice for individuals and families seeking to achieve their financial goals and safeguard their future.

Other services we offer in St. Paul, MN include:

Call Correct Capital's St. Paul, MN Financial Advisor Team Today

The decisions you make about your finances and the choices you make with it are deeply personal. At Correct Capital, we strongly believe that the relationship between a person, family, or entrepreneur in St. Paul, MN and their financial advisor is founded on mutual trust. Dedicating our lives to helping our clients achieve their personal and financial goals, whether it's sending your children to college or making the dream purchase of that dream car during your retirement years. Contact our St. Paul, MN 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.


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