Financial Advisor in Tempe, AZ. Your hard-earned money deserves attention, and you want to be secure about how it's being managed and how it's being used. A lot of Tempe residents lack the financial literacy to feel sure they're making the optimal decisions with their money, while others simply don't have the time or inclination to stay up to date on financial markets along with new laws, regulations, and global events. That's when you should consider hiring a trustworthy, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Tempe, AZ will make your money work for you. We employ in-depth research along with our decades of experience to create personalized financial solutions for individuals, families, and businesses in Tempe, AZ and beyond. Speak to a team member today at 877-930-4015 or contact us online to see if Correct Capital is a good fit for you.
Not sure if you're ready to hire a financial advisor in Tempe, AZ? Explore our process page to see how simple we make it to determine if you're a good fit.
A 2018 study by FINRA reported that 53 percent of American adults are nervous about their finances. The root of that concern is often just not being sure they're managing their money correctly. After our Tempe, AZ financial advisor team gets to know you, your extant financial situation and your financial objectives, we'll design a road map to help you achieve 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 options we can put forward. Our financial advisors in Tempe, AZ have certifications that can only be awarded through rigorous testing and by meeting strict education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who assists individuals manage their money, plan their finances, put enough money away, and plan for their financial future. This wide-ranging definition encompasses a variety of services, from investment management and retirement planning to tax planning and estate planning. Financial advisors take a holistic view of your financial situation to recommend strategies that align with 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 organizations such as FINRA and the CFP Board that denote their experience and education.
Types of Financial Advisors in Tempe, AZ
There are various types of advisors that vary based on the services they offer, their compensation models, their areas of expertise, and their legal obligations to clients:
- Investment Advisors or Portfolio Managers: These advisors offer advice on securities and manage 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. Investment advisors are certified with either the Securities and Exchange Commission (SEC) or state regulators, depending on the size of the assets they manage.
- Broker-Dealers and Brokers: Broker-dealers trade securities like stocks, bonds, and mutual funds on behalf of their clients or for their own accounts. They must be registered by the SEC and are usually members of FINRA. The financial products they can sell are determined by their specific licenses, such as Series 6 or Series 7. For example, someone 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 certification have undergone extensive education and uphold the highest ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs offer a vast spectrum of financial advisory services, such as managing debt to retirement planning, and estate planning. Their methodology is comprehensive, intended to meet all aspects of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed education similar to CERTIFIED FINANCIAL PLANNER™ Professionals and also adhere to a fiduciary duty. Like CFPs, ChFCs specialize in providing holistic financial advice, encompassing everything from investment management to tax advice, guaranteeing that clients' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Are dedicated to improving clients' financial literacy, guiding with basics such as saving money and budgeting. They are suited for clients who are not yet wealthy enough to work with most financial advisors. Their services provides a good starting point for managing personal finances wisely, especially for those in the early stages of financial planning.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering extensive services that encompass estate planning, tax assistance, and investment management. They partner closely with their clients to handle complex financial situations and develop wealth preservation strategies. Their skill set is geared towards enhancing the financial health and future of those with substantial assets, ensuring that all investments and planning strategies meet customized advice and solutions.
Each type of financial advisor brings unique expertise and services to the table. At Correct Capital, our group of advisors boasts CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, ensuring 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 asses your present finances, determine ways to enhance it, and help you realize your future financial goals. Many Tempe, AZ residents commonly immediately think of investing when they think of wealth management services and financial advisors. While that is a fundamental aspect of any financial plan, a certified financial advisor will be able to provide you with overarching financial advice that takes into consideration the whole of your finances. The following are some of the services your Correct Capital financial advisor in Tempe, AZ will use in order to help you meet your objectives.
- Financial Planning
Our money is involved in almost anything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a house, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Tempe, AZ offer all-encompassing services and personalized consulting by taking into account your entire financial situation.
- Tax Planning
Tax considerations play a role almost any time money is exchanged or used. According to the IRS's own data, over 70 percent of Americans pay more than necessary in taxes each year. The United States tax code is notoriously complex, yet it offers perfectly legal ways to minimize taxes owed. A professional and trustworthy Tempe, AZ financial advisor will assist you in navigating your tax implications with the aim of keeping more money in your own account.
- Portfolio Management and Asset Management
Your financial portfolio is the aggregation of your financial assets. They can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as art. A financial advisor in Tempe, AZ will assist in allocating and diversify your assets in order 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 retire, your Tempe, AZ financial advisor will help with tax planning, evaluating the best age to retire, when to make withdrawals and how much to withdraw. A financial advisor will aid in creating a budget and strategy for source of income in retirement so you can spend your golden years exactly the way you want to.
- 401(k) Services
We offer 401(k) services to individuals and families as well as Tempe, AZ businesses and business owners. Implementing a 401(k) plan is a superb way to maintain 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 Tempe, AZ financial advisor team offers thorough 401(k) planning for companies as well as individualized benefits for their employees.
- 401(k) Rollover
When moving to a new job, it can be tough to know the best way to handle the money you've accumulated in a previous Tempe, AZ employer's 401(k) plan. You have multiple 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 selection of IRA accounts. A financial advisor will be skilled in how to best navigate managing your 401(k) funds.
- Generational Wealth Transfers
You work hard for your money, and it's normal to desire to leave a legacy and pass on some wealth to the people you care about the dearly. Wealth transfers are separate from simply leaving gifts behind in estate planning. A financial advisor in Tempe, AZ can optimize your money for both 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 necessary to choose one who has accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Tempe, AZ financial advisor at Correct Capital is bound by 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 tailored debt management plans that focus on managing debt, achieving lower interest rates where possible, and structuring repayments. The goal is to create a practical path forward that aligns with your financial capabilities and goals, ultimately leading to stability.
- Budgeting
Creating and sticking to a budget is essential to having the financial health and life you want. Financial advisors in Tempe, AZ can assist clients comprehend how much money's coming in, identify areas for savings, and set realistic spending limits that promote wealth accumulation. By providing resources and strategies for effective budgeting, advisors make sure that clients can fulfill their current financial obligations while also preparing for future goals.
When you hire a Tempe, AZ financial advisor at Correct Capital, we start by getting to know you personally and your goals. 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 accomplish your goals. As an independent advisory firm, our only commitment is to act in your best interest. There is no limitation 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 Hire a Financial Advisor in Tempe, AZ?
Seeking the assistance of a financial advisor can be a vital step towards getting the life and financial prosperity 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 starting a family 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 evolving 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 don't have the knowledge to successfully handle your investments, or simply choose to spend your time on other pursuits, a financial advisor can be essential. They bring insight and objectivity to your financial decisions, assisting to optimize your portfolio, avoid costly mistakes, and set up your investments for long-term growth.
- Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can help you evaluate your current financial situation, determine your retirement needs, and craft a plan to ensure you can enjoy 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 challenges. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's expertise can be crucial. They can help you comprehend 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 finances. Beyond just finding a dependable 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 varieties of clients they've assisted, and their specializations, can provide you a sense of their skills and whether they're equipped to manage 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 meeting strict educational, 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 dynamic strategy, their philosophy should resonate with your goals and expectations.
- How do you usually communicate with clients?
Communication method and frequency are crucial 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 intends to keep you informed about your investments and financial 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. Grasping how an advisor is compensated will enable you to discern potential conflicts of interest and guarantee that their recommendations are offered 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 bound by law to put your interests ahead of their own, providing advice that is in the best interest of 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 help you gauge 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 adversely affect 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 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 Tempe, AZ?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors make their earnings through commissions on the financial products they offer, such as mutual funds. This fee structure can create a potential conflict of interest, as the advisor could be motivated to suggest options that generate higher commissions rather than those that best meet your needs. These 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: 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 hourly rates assets under management (AUM). This model is frequently regarded as more transparent and in line with the client's best interests, as it reduces conflicts of interest related to product sales.
- Fee-Based: Fee-based advisors use a combination of fees paid by the client and commissions from selling financial products. While this model offers a mix of the fee-only and commission-based structures, 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 Tempe, AZ
Correct Capital is distinguished in the Tempe, AZ 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 Tempe, AZ:
One-Time Financial Plan (best for validators)
This service model is ideal for those who are looking for the insights and advice a financial advisor can offer without the continuous oversight. This service is excellent for individuals who are generally confident in managing their finances but seek professional validation to confirm they're doing things the right way. Our team performs 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 ongoing guidance and advice as their financial situation evolves, or when they have specific questions about taxes, investments, or other aspects of their finances. This model offers monthly updates from our financial advisors, regular check-ins every quarter, and availability on an as-needed basis. While we won't manage your investments for you, we'll 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 prefer 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 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 Tempe, AZ Financial Advisor?
Correct Capital is a premier choice for individuals and families in Tempe, AZ 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 is 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 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. Our independence means we aren't tied to any specific financial institution or product, allowing us the freedom to choose 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 two CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Additionally, 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. Utilizing the latest data and software to analyze trends, our aim is to craft the most appropriate strategy for your needs.
- Ongoing Education and Resources: Correct Capital offers quarterly webinars and workshops to keep you informed and engaged with your financial health. Our dedication 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 Tempe, AZ means partnering with a team dedicated to your financial success. Our expertise, fiduciary commitment, and personalized approach to financial planning and investment management make us the ideal partner for individuals and families looking to achieve their financial goals and safeguard their future.
Other services we offer in Tempe, AZ include:
Call Correct Capital's Tempe, AZ Financial Advisor Team Today
Your money and the decisions you make with it are deeply personal. At Correct Capital, we firmly believe that the relationship between an individual, family, or business owner in Tempe, AZ and their financial advisor is based on trust. Committed to guiding our clients realize their personal and financial goals, be it sending your children to college or finally achieving the dream of owning that dream car during your retirement years. Contact our Tempe, AZ financial advisor team today at 877-930-4015 or start a conversation with us online to begin building your wealth how you've always wanted.
