Financial Advisor in St. Petersburg, FL

Financial Advisor in St. Petersburg, FL. Your hard-earned money deserves attention, and you need to feel secure about how it's expanding and how it's being used. Many St. Petersburg residents do not have the financial literacy to feel like they can handle their investments and finances by themselves, while others are too busy or interest to stay informed on market trends along with new laws, rules, and global events. That's when you should consider hiring a trustworthy, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in St. Petersburg, FL 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. Petersburg, FL and beyond. Reach out to us today at 877-930-4015 or contact us online to see if Correct Capital is a good fit for you.

Uncertain if you're ready to work with a financial advisor in St. Petersburg, FL? Check out our process page to discover how straightforward we make it to ascertain if we would make a good team.

A 2018 study by FINRA found that 53 percent of American adults are nervous about their finances. The cause of that concern is commonly just not being sure they're putting their money in the right places. After our St. Petersburg, FL financial advisor team gets to know you, your finances and your financial goals, we'll build a road map to help you reach them. As a fiduciary and an independent firm, your Correct Capital financial advisor is legally and ethically compelled to act in your best interest and we are not limited in the plans we can recommend. Our financial advisors in St. Petersburg, FL have certifications that can only be acquired through rigorous testing and by meeting strict education requirements.

What Is a Financial Advisor?

A financial advisor is a specialist who provides advice on managing personal finances and investments. This role encompasses a spectrum of services, from investment 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 signify their experience and education.

Types of Financial Advisors in St. Petersburg, FL

Financial advisors can work and market themselves under different titles:

• Investment Advisors or Portfolio Managers: These professionals provide advice on securities and oversee investment portfolios. They often work in RIAs and are required to act in a fiduciary capacity, meaning they always have the client's best interest at heart. Portfolio managers are certified with either the Securities and Exchange Commission (SEC) or state regulators, based on the size of the assets 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 register with 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 has a Series 7 license represents general securities, such as mutual funds and exchange-traded funds (ETFs).
• CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals with the CFP certification have undergone extensive education and adhere to high ethical standards, particularly a fiduciary duty to their clients. CFPs offer a vast spectrum of financial advisory services, ranging from managing debt to retirement planning, and estate planning. This approach is holistic, intended to meet all aspects of a client's financial life.
• Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have undergone training comparable with CFPs and also adhere to a fiduciary duty. Like CFPs, ChFCs focus on offering holistic financial advice, covering areas such as estate planning to retirement strategies, ensuring that customers' financial goals are achieved through the highest ethical standards.
• Financial Coaches: Focus on improving clients' financial literacy, assisting with basics such as saving money and budgeting. They are perfect for clients who may not possess the wealth to hire a financial advisor yet. This type of guidance offers a good starting point for handling personal finances efficiently, particularly for those looking to take the first step towards financial wellbeing.
• Wealth Managers: Help high-net-worth individuals, offering extensive services that encompass estate planning, tax help, and investment management. They work closely with their clients to manage complex financial situations and develop wealth preservation strategies. Their expertise is geared towards enhancing the financial health and future of those with substantial assets, making sure that every financial decision is aligned with tailored advice and approaches.

Each type of financial advisor brings unique expertise and services to the table. At Correct Capital, our group of advisors includes CFPs and other qualified professionals who embody 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 financial situation, pinpoint ways to improve it, and help you accomplish your long-term financial goals. Many St. Petersburg, FL residents typically immediately think of investing when they think of wealth management services and financial advisors. While that is a fundamental component of any financial plan, a certified financial advisor will be able to provide you with overarching financial advice that takes into consideration the entirety of your finances. The following are some of the services your Correct Capital financial advisor in St. Petersburg, FL will use to help you meet your goals.

• Financial Planning

  Our finances are a part of almost anything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a home, deciding on insurance policies, and making sure we have enough to eat every night. The best financial advisors in St. Petersburg, FL offer holistic services and personalized advice by taking into account your entire financial situation.

• Tax Planning

  Taxes are involved in virtually every financial transaction and transfer. According to the IRS's own data, more than 7 out of 10 of Americans overpay in taxes each year. The United States tax code is notoriously complex, yet it allows for perfectly legal means to minimize taxes owed. A skilled and ethical St. Petersburg, FL financial advisor will help you navigate your tax implications to ensure keeping more money in your own account.

• 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 other investments such as real estate. A financial advisor in St. Petersburg, FL will help in allocating and diversify your assets in order to mitigate risk and optimally position your money for growth.

• Retirement Planning

  Depending on where you currently are in life and your desired lifestyle when you hang up your cape, your St. Petersburg, FL financial advisor will help with tax planning, considering the best age to retire, when to make withdrawals and how much to take out. A financial advisor will assist in formulating a budget and plan for source of income in retirement so you can spend your golden years just how you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as St. Petersburg, FL businesses and business owners. Setting up a 401(k) plan is a great way to keep your best employees and keep them satisfied and happy. Our retirement consultants manage over $218 million in plan assets and hundreds of plan participants nationwide. Our St. Petersburg, FL financial advisor team offers extensive 401(k) planning for companies as well as customized benefits for their employees.

• 401(k) Rollover

  When starting a new job, it can be tough to know the best way to manage the money you've accumulated in a previous St. Petersburg, FL 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 handling your 401(k) funds.

• Generational Wealth Transfers

  You earn your money, and it's normal to desire to leave a legacy and leave some wealth behind the people you care about the dearly. Wealth transfers are distinct from merely leaving gifts behind in estate planning. A financial advisor in St. Petersburg, FL can best position your money for not only your children but for future generations to come, even ones you haven't met yet.

• Fiduciary Advising

  Anyone can give themselves the title of "financial advisor," so it's necessary to pick one who has received accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your St. Petersburg, FL financial advisor at Correct Capital must act in accordance with 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 managing debt, achieving lower interest rates where possible, and prioritizing repayments. The goal is to create a workable path forward that matches your financial capabilities and goals, eventually leading to stability.

• Budgeting

  Creating and sticking to a budget is crucial to achieving financial health and goals. Financial advisors in St. Petersburg, FL can help clients comprehend how much money's coming in, identify areas to spend less, and set realistic spending limits that facilitate wealth accumulation. By providing resources and strategies for efficient budgeting, advisors make sure that clients can fulfill their current financial obligations while also saving for future goals.

When you hire a St. Petersburg, FL financial advisor at Correct Capital, we start by getting to know you and your goals. We will evaluate your current income, assets, investments, debts, and expenses. Next we've done that, we'll work with you to ascertain 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 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 St. Petersburg, FL?

Seeking the assistance 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 signal the need for expert financial advice.

• Major Life Changes: Life is a series of transitions, and many of them have major financial implications. Whether you're starting a family or changing careers, these milestones can significantly affect your financial landscape. A financial advisor can assist you through these changes, ensuring that your financial plan grows to meet your evolving situation and goals.
• Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complex, time-consuming, and, frankly, daunting for many. If you aren't confident to successfully manage your investments, or simply prefer to spend your energy elsewhere, a financial advisor can be crucial. They bring expertise and wisdom to your financial decisions, aiding to enhance your portfolio, avoid costly mistakes, and set up your investments for sustainable growth.
• Nearing Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can aid you assess your current financial situation, calculate your retirement needs, and craft a plan to ensure you can experience 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 plethora 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 knowledge can be vital. They can assist 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 crucial when you're hiring someone for any service, but particularly so when it involves your hard-earned money. In addition to finding a dependable advisor, you need one who ideally suits 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 time spent in the industry, the kinds of clients they've worked with, and their specializations, can provide you a sense of their skills and whether they're well-suited to handle your financial needs.

• What are your qualifications and certifications?

  Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor has earned. These credentials often require fulfilling rigorous education, experience, and ethical standards, demonstrating a high level of expertise and expertise.

• Can you describe 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 aggressive strategy, their philosophy should reflect your aspirations and expectations.

• How do you usually communicate with clients?

  Communication method and regularity are crucial to a successful client-advisor relationship. Discuss how often you'll have meetings, whether they'll be in person or online, and how the advisor expects to keep you informed about your investments and financial plan.

• What's your fee structure?

  Advisors can be fee-only, commission-based, or a mixture thereof. Understanding how an advisor is compensated will enable you to discern potential conflicts of interest and ensure that their advice is made with your best interests in mind.

• Do you have a fiduciary duty to your clients?

  Confirming that an advisor serves 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 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 enable you to assess 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 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 offer 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 St. Petersburg, FL?

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

1. Commission-Based: Commission-based advisors earn their income through commissions on the products they sell, such as other financial products. This fee structure can create a potential conflict of interest, as the advisor might be incentivized to suggest options that generate higher commissions rather than 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 recommend products that can help you achieve your goals, but not necessarily the ones best suited to your needs.
2. 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 several forms, including a percentage of the assets under management (AUM). This model is often seen as more transparent and in line 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 client-paid fees and commissions from selling financial products. While this model offers a mix of the fee-only and commission-based structures, such advisors generally also have a fiduciary duty, which means that although they get commission from certain products, they must disclose that information to the client and cannot recommend those products unless they sincerely believe they are in the client's best interests.

Correct Capital's Financial Advisory Services in St. Petersburg, FL

Correct Capital stands out in the St. Petersburg, FL 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 St. Petersburg, FL:

One-Time Financial Plan (best for validators)

This service model is best for those who are seeking the insights and advice a financial advisor can offer without the ongoing management. This service is great for individuals who largely feel good about managing their finances but are looking for professional validation to ensure they're on the right track. Our team conducts a thorough review of your financial landscape, providing you with a detailed plan that tackles your specific goals, concerns, and opportunities for growth.

Subscription (best for collaborators)

Our subscription service caters to individuals who value consistent guidance and advice as their financial situation changes, or when they have specific questions about something related to their finances. This model offers monthly insights from our financial advisors, regular check-ins every quarter, and availability on an as-needed basis. 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 choose to hand over the management of their investments and financial planning to professionals. This includes active investment management, comprehensive financial strategizing, and forward-looking guidance on a wide range of financial matters — from tax planning and retirement planning 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 committed to maximizing their wealth and achieving their financial goals.

Why Choose Correct Capital as Your St. Petersburg, FL Financial Advisor?

Correct Capital is a leading choice for individuals and families in St. Petersburg, FL seeking trusted, professional financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:

• We're Fiduciary Advisors: As fiduciaries, Correct Capital are legally obligated to put your interests first. This commitment guarantees that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is done with your best interests in mind.
• 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 specific financial institution or product, enabling us the freedom to select the best investments and strategies for you.
• Our Qualifications: We are a Registered Investment Advisor (RIA), which 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.
• We Are Proactive: Our advisors believe that the most valuable way to create long-term financial security is to stay ahead of trends and lead, rather than follow. Utilizing the latest data and software to analyze trends, we prepare the most appropriate strategy for your needs.
• Continuous Learning Opportunities: We offer at Correct Capital quarterly webinars and workshops to keep you informed and engaged with your financial health. Our commitment to client education guarantees that you are fully prepared to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in St. Petersburg, FL means partnering with a team committed 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. Petersburg, FL include:

• High-Net-Worth Wealth Management
• Retirement Planner
• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor

Call Correct Capital's St. Petersburg, FL Financial Advisor Team Today

Your money and the choices you make with it are deeply personal. At Correct Capital, we firmly believe that the relationship between a person, household, or entrepreneur in St. Petersburg, FL and their financial advisor is based on mutual trust. Dedicating our lives to guiding our clients achieve their personal and financial goals, whether it's sending your children to college or finally achieving the dream of owning that dream car during your retirement years. Contact our St. Petersburg, FL financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards building your wealth how you've always wanted.

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