Financial Advisor in Sunnyvale, CA. You work hard for your money, and you want to be assured about how it's expanding and how it's being used. Numerous Sunnyvale residents do not have the financial literacy to feel sure they're making the right decisions with their money, while others simply don't have the time or inclination to stay informed on market trends along with new laws, regulations, and global events. That's when you should consider hiring a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Sunnyvale, CA will make your money work for you. We utilize in-depth analytics along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Sunnyvale, CA 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 hire a financial advisor in Sunnyvale, CA? Check out our process page to discover how simple we make it to ascertain if you're a good fit.
A 2018 study by FINRA reported that 53 percent of American adults are worried about their finances. The root of that anxiety is often simply not being sure they're managing their money correctly. Once our Sunnyvale, CA financial advisor team gets to know you, your finances and your financial aims, we'll design a road map to help you realize them. As a fiduciary and an independent firm, your Correct Capital financial advisor is obligated to act in your best interest and we are not limited in the solutions we can offer you. Our financial advisors in Sunnyvale, CA have certifications that can only be gained through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who assists individuals manage their money, budget, save, and prepare for their financial future. This broad definition includes a variety of services, from portfolio management and retirement planning to tax planning and estate planning. Financial advisors take a thorough view of your financial situation to advise on strategies that match your goals, risk tolerance, and time horizon. 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 can only be obtained through rigorous education and exams.
Types of Financial Advisors in Sunnyvale, CA
Financial advisors can work and market themselves under different titles:
- Investment Advisors or Portfolio Managers: These advisors offer advice on securities and oversee investment portfolios. They're often associated with 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 buy and sell securities like stocks, bonds, and mutual funds for their clients or for themselves. They must be registered by the SEC and are generally members of FINRA. The financial products they can sell are determined by 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): Advisors holding the CFP certification have completed rigorous education and uphold high ethical standards, including a fiduciary duty to their clients. CFPs provide a wide array of financial advisory services, such as managing debt to retirement planning, and investment strategies. Their approach is all-encompassing, designed to satisfy every facet of a client's financial life.
- Financial Consultants: This term can be widely applied, but chartered financial consultants (ChFCs) have undergone training similar to CFPs and are also bound by a fiduciary duty. They focus on offering holistic financial advice, encompassing everything from investment management to tax advice, ensuring that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Focus on improving clients' financial literacy, assisting with basics such as saving money and budgeting. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. This type of guidance delivers a strong basis for managing personal finances wisely, especially for those looking to take the first step towards financial wellbeing.
- Wealth Managers: Serve high-net-worth individuals, offering a broad array of services that encompass estate planning, tax assistance, and investment management. They partner closely with their clients to manage complex financial situations and develop wealth preservation strategies. Their expertise is geared towards optimizing the financial health and future of affluent clients, making sure that all investments and planning strategies meet customized advice and solutions.
Each type of financial advisor serves different needs, and the best choice depends on an individual's or organization's specific financial situation and goals. At Correct Capital, our team of advisors features CFPs and other qualified professionals who uphold 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 look over your current finances, identify ways to enhance it, and help you meet your future financial goals. Many Sunnyvale, CA residents commonly immediately think of investing when they think of wealth management services and financial advisors. While that is a fundamental part of any financial plan, a qualified financial advisor will be able to give you extensive financial advice that takes into account the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Sunnyvale, CA will implement to help you reach your goals.
- Financial Planning
Our money is a part of almost everything we do, from making sure we're set up in retirement, to education, 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 Sunnyvale, CA offer comprehensive services and tailored consulting by evaluating your entire financial situation.
- Tax Planning
Taxes are involved almost any time money is exchanged or used. According to the IRS's own data, more than 70 percent of Americans overpay in taxes every year. The United States tax code is incredibly complicated, yet it provides perfectly legal means to reduce your tax liability. A skilled and ethical Sunnyvale, CA financial advisor will guide you through your tax implications with the aim of keeping more money in your hands than in the government's.
- 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 Sunnyvale, CA will assist in allocating and diversify your assets to mitigate risk and best position your money for long-term 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 Sunnyvale, CA financial advisor will assist with tax implications, considering the optimal time to retire, when to make withdrawals and how much to withdraw. A financial advisor will aid in creating 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 Sunnyvale, CA businesses and business owners. Setting up a 401(k) plan is a great way to maintain your best employees and keep them productive and happy. Our retirement consultants oversee over $218 million in plan assets and numerous of plan participants nationwide. Our Sunnyvale, CA financial advisor team offers extensive 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 tough to know the best way to handle the money you've already saved in a previous Sunnyvale, CA employer's 401(k) plan. You have a number of options, such as leaving the money in the account it is currently in, moving it to a new 401(k), or putting the money in one of a selection of IRA accounts. A financial advisor will know how to best navigate handling your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's normal to wish to leave a legacy and leave some wealth behind the people you care about the dearly. Wealth transfers are separate from just leaving gifts behind in estate planning. A financial advisor in Sunnyvale, CA can optimize your money for not only your children but for generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's vital to choose one who has earned accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Sunnyvale, CA financial advisor at Correct Capital must observe a "Code of Ethics and Standards of Conduct" to:
- Act with honesty, integrity, competence, and diligence.
- Act in the client's best interest.
- Exercise due care.
- Avoid conflicts of interest, disclose them when they arise, and manage them in the client's best interest.
- Maintain confidentiality and protect the privacy of client information.
- Act in a manner that reflects positively on the financial planning profession and CFP® certification.
- Debt Management
Financial advisors offer personalized debt management plans that focus on consolidating debt, securing lower interest rates where possible, and prioritizing repayments. The goal is to create a workable path forward that suits your financial situation and goals, eventually leading to stability.
- Budgeting
Creating and staying compliant with a budget is essential to having the financial health and life you want. Financial advisors in Sunnyvale, CA can assist clients grasp your income level, spot 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 fulfill their current financial obligations while also preparing for future goals.
When you hire a Sunnyvale, CA financial advisor at Correct Capital, we begin by getting to know you personally and your objectives. We will assess your current income, assets, investments, debts, and expenses. Once we've completed that, we'll work with you to ascertain your preferred risk tolerance and how we can best help you grow your money. 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 put forward, and we will never try to sell you on something we do not believe in ourselves.
Do I Need to Speak to a Financial Advisor in Sunnyvale, CA?
Seeking the assistance of a financial advisor can be a key step towards getting the life and financial health you want. While the ideal moment can vary widely from person to person, certain life events and circumstances often signal the need for expert financial advice.
- Major Life Changes: Life is a long line of changes, and many of them have major 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 navigate these changes, ensuring that your financial plan adapts to meet your evolving situation and goals.
- Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances By Yourself: Managing personal finances can be complicated, time-consuming, and, frankly, daunting for many. If you lack the experience to effectively manage your investments, or simply prefer to focus your energy on other pursuits, a financial advisor can be invaluable. They bring expertise and perspective to your financial decisions, assisting to enhance your portfolio, avoid costly mistakes, and set up your investments for long-term growth.
- Nearing Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can help you evaluate your current financial situation, estimate your retirement needs, and formulate a plan to ensure you can enjoy your retirement years with peace of mind. This includes strategies for Social Security benefits, pension management, and withdrawal plans from retirement accounts.
- Complex Financial Products: The financial market offers a wide array 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 crucial. They can guide you understand the risks and benefits, ensuring that any investment fits your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is paramount whenever you hire someone to do something, but particularly so when it comes to your finances. In addition to finding a dependable advisor, you need one whose specialties align with your needs. It's important to inquire properly 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 assisted, and their specializations, can provide you a sense of their skills and whether they're prepared to manage your financial situation.
- What are your qualifications and certifications?
Inquire about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require fulfilling demanding education, experience, and ethical standards, demonstrating 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 aggressive strategy, their philosophy should be in harmony with your expectations and expectations.
- How do you usually communicate with clients?
Communication style and frequency are essential to a successful client-advisor relationship. Discuss how often you'll have meetings, whether they'll be face-to-face or virtual, and how the advisor intends to keep you updated about how your investments are going and if you need any updates to your plan.
- How are you compensated for your services?
Advisors can be either get money from fees/a percentage of your assets, commission from selling financial products, or a mixture thereof. Knowing how an advisor is compensated will enable you to discern potential biases and make certain that their recommendations are offered with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor acts as a fiduciary is crucial. This means they are legally required to put your interests ahead of their own, 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 client education and portfolio reviews. Understanding 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 manage 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 give 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 Sunnyvale, CA?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions earn their income through commissions on the financial products they offer, such as other financial products. This fee structure can lead to a possible conflict, as the advisor might be incentivized to recommend products that generate higher commissions rather than 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 aid in achieving your goals, but not necessarily the ones best suited to your needs.
- Fee-Only: Advisors on a fee-only basis are compensated directly by their clients for the guidance and assistance they provide and do not receive any commissions from product sales. This compensation can take several forms, including a percentage of the assets under management (AUM). This model is frequently regarded as more transparent and aligned with the client's best interests, as it minimizes conflicts of interest related to product sales.
- Fee-Based: Fee-based advisors use a combination of client-paid fees 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 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 Sunnyvale, CA
Correct Capital is distinguished in the Sunnyvale, CA financial advisory landscape for its bespoke approach to wealth management and financial planning. Understanding that not all clients have the same starting point or the same goals, we offer three different service models to our clients in Sunnyvale, CA:
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 continuous oversight. This service is excellent for individuals who largely feel good about managing their finances but seek professional validation to confirm they're setting their money up for success in the best way. Our team conducts a thorough review of your financial landscape, supplying you with a detailed plan that addresses your specific goals, concerns, and opportunities for growth.
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 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 will not manage your investments for you, we'll strive 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 considerations 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 committed to maximizing their wealth and realizing their financial goals.
Why Choose Correct Capital as Your Sunnyvale, CA Financial Advisor?
Correct Capital is a leading choice for individuals and families in Sunnyvale, CA seeking reliable, expert financial guidance. Here's why choosing Correct Capital can make a profound difference in your financial journey:
- We are Fiduciary Advisors: As fiduciaries, Correct Capital is legally obligated to act in your best interests. This commitment guarantees that each piece of advice, each investment recommendation, and each strategic move we make on your behalf is done in a way that aligns most closely with your goals.
- Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Being independent means we aren't tied to any specific financial institution or product, allowing us the freedom to select 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 a couple of 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: 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 commitment to client education guarantees that you are fully prepared to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Sunnyvale, CA means partnering with a team dedicated to your financial success. Our experience, fiduciary commitment, and personalized approach to financial planning and investment management make us the perfect choice for individuals and families looking to achieve their financial goals and secure their future.
Other services we offer in Sunnyvale, CA include:
Call Correct Capital's Sunnyvale, CA 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 strongly believe in the relationship between a person, family, or entrepreneur in Sunnyvale, CA and their financial advisor is based on mutual trust. Dedicating our lives to guiding our clients realize their financial and personal goals, whether it's funding higher education for your children or making the dream purchase of that dream car during your retirement years. Contact our Sunnyvale, CA financial advisor team today at 877-930-4015 or get in touch with us online to take the first step towards building your wealth in the manner you desire.
