Financial Advisor in Toledo, OH

Financial Advisor in Toledo, OH. Your hard-earned money deserves attention, and you need to feel secure about how it's expanding and how it's being used. A lot of Toledo 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 up to date on financial markets along with new laws, regulations, and different events happening around the world. That's when you need a reliable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Toledo, OH will make your money work for you. We use in-depth research along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Toledo, OH and beyond. Call us today at 877-930-4015 or contact us through our website to see if Correct Capital is a good fit for you.

Wondering if you're ready to hire a financial advisor in Toledo, OH? Take a look at our process page to discover how easy we make it to ascertain 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 revealed that 53 percent of American adults are worried about their finances. A source of that concern is commonly simply not being sure they're managing their money correctly. After our Toledo, OH financial advisor team gets to know you, your current financial situation and your financial aims, we'll build a road map to help you realize them. As a fiduciary and an independent firm, every Correct Capital financial advisor is legally and ethically required to act in your best interest and we are not limited in the solutions we can suggest. Our financial advisors in Toledo, OH have certifications that can only be obtained through rigorous testing and by meeting strict education requirements.

What Is a Financial Advisor?

A financial advisor is a professional who provides advice on managing personal finances and investments. This comprehensive definition covers a wide range of services, from investment management and retirement planning to tax planning and generational wealth transfers. Financial advisors take a comprehensive view of your financial situation to suggest strategies that match your goals, risk tolerance, and time horizon. While technically anyone can be called a financial advisor or financial planner, reliable and professional advisors will have accreditations from regulatory bodies such as FINRA and the CFP Board that can only be achieved through rigorous education and exams.

Types of Financial Advisors in Toledo, OH

Financial advisors come in various forms, each with different areas of expertise, compensation models, and types of services offered:

• Investment Advisors or Portfolio Managers: These professionals provide advice on securities and oversee investment portfolios. They're often associated with RIAs and are required to serve as fiduciaries, meaning they must act within a client's best interest. Portfolio managers are registered with either the Securities and Exchange Commission (SEC) or state regulators, depending 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 instance, someone who holds a Series 7 license represents general securities, including mutual funds and exchange-traded funds (ETFs).
• CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Professionals with the CFP designation have completed rigorous education and adhere to the highest ethical standards, including a fiduciary duty to their clients. CFPs provide a broad range of financial advisory services, including debt management to retirement planning, and investment strategies. Their approach is all-encompassing, aiming to meet all aspects of a client's financial life.
• Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed training similar to CFPs and are also required to hold their clients' interests above their own. Like CFPs, ChFCs specialize in offering holistic financial advice, encompassing everything from estate planning to retirement strategies, guaranteeing that clients' financial goals are met with the highest ethical standards.
• Financial Coaches: Are dedicated to enhancing clients' financial literacy, guiding with basics such as saving money and budgeting. They are perfect for clients who are not yet wealthy enough to work with most financial advisors. Their services offers a good starting point for handling personal finances wisely, particularly 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 include estate planning, tax assistance, and investment management. They work closely with their clients to manage complex financial situations and develop wealth preservation strategies. Their expertise is tailored for optimizing the financial health and legacy of those with substantial assets, guaranteeing that their clients' goals and aspirations are met through customized advice and strategies.

Each type of financial advisor brings unique expertise and services to the table. At Correct Capital, our group 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 across all our engagements.

What Does a Financial Advisor Do?

A financial advisor will look over your current financial situation, ascertain methods to enhance it, and help you meet your future financial goals. A lot of Toledo, OH residents frequently immediately think of investing when they think of wealth management services and financial advisors. While that is a key feature of any financial plan, a professional financial advisor will be able to provide you with holistic financial advice that takes into consideration the whole of your finances. The following are some of the services your Correct Capital financial advisor in Toledo, OH will utilize in order to help you reach your objectives.

• Financial Planning

  Our money is a part of almost everything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a house, choosing insurance policies, and making sure we have enough to eat every night. The best financial advisors in Toledo, OH 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, more than 7 out of 10 of Americans overpay in taxes every year. The United States tax code is notoriously complex, yet it allows for perfectly legal ways to lower your taxes. A skilled and ethical Toledo, OH financial advisor will help you navigate your tax implications to ensure keeping more money in your hands than in the government's.

• Portfolio Management and Asset Management

  Your financial portfolio is the aggregation of your financial assets. They can include equities, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or other investments such as art. A financial advisor in Toledo, OH will help to allocate and diversify your assets to mitigate risk and best 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 Toledo, OH financial advisor will help with tax implications, considering the best age to retire, when to withdraw money and how much to withdraw. A financial advisor will help you formulate a budget and strategy 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 Toledo, OH businesses and business owners. Introducing a 401(k) plan is a superb way to maintain your best employees and keep them productive and happy. Our retirement consultants represent over $218 million in plan assets and numerous of plan participants nationwide. Our Toledo, OH financial advisor team offers extensive 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 challenging to know the best way to handle the money you've already saved in a previous Toledo, OH employer's 401(k) plan. You have a number of options, including 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 range of IRA accounts. A financial advisor will be skilled in how to best approach handling your 401(k) funds.

• Generational Wealth Transfers

  You earn your money, and it's common to wish to leave a legacy and leave some wealth behind the people you care about the dearly. Wealth transfers are separate from merely leaving gifts behind in estate planning. A financial advisor in Toledo, OH 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 vital to pick 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 Toledo, OH financial advisor at Correct Capital is bound by a "Code of Ethics and Standards of Conduct" to:

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

  Financial advisors offer personalized debt management plans that focus on managing debt, securing lower interest rates where possible, and structuring 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 having the financial health and life you want. Financial advisors in Toledo, OH can assist clients grasp your income level, find areas to spend less, and set realistic spending limits that promote wealth accumulation. By providing tools 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 Toledo, OH financial advisor at Correct Capital, we begin by getting to know you and your goals. We will evaluate your current income, assets, investments, debts, and expenses. After we've done that, we'll work in concert 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 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 Hire a Financial Advisor in Toledo, OH?

Seeking the advice of a financial advisor can be a key step towards getting the life and financial security you want. While the ideal moment can vary widely from person to person, certain life events and circumstances often suggest the need for expert financial advice.

• Major Life Changes: Life is a long line of changes, and many of them have substantial financial implications. Whether you're starting a family or facing retirement, these milestones can profoundly affect your financial landscape. A financial advisor can guide you through these changes, ensuring that your financial plan adapts to meet your evolving situation and goals.
• Lack of Experience, Time, Knowledge, or Desire to Manage Your Finances Alone: Managing personal finances can be complex, time-consuming, and, frankly, daunting for many. If you don't have the knowledge to effectively manage your investments, or simply choose to focus your time elsewhere, a financial advisor can be essential. They bring experience and wisdom to your financial decisions, assisting to enhance your portfolio, prevent costly mistakes, and set up your investments for sustainable growth.
• Getting Close to Retirement: Retirement planning is one of the primary reasons individuals seek out financial advice. An advisor can aid you evaluate your current financial situation, estimate your retirement needs, and formulate a plan to ensure you can experience your retirement years comfortably. 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 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 essential. They can assist you grasp 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. In addition to 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 kinds of clients they've collaborated with, and their areas of expertise, can provide you a sense of their proficiency and whether they're equipped to tackle your specific financial circumstances.

• What are your qualifications and certifications?

  Ask them to mention any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require meeting demanding education, experience, and ethical standards, indicating 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 conservative approach with a focus on long-term growth or a more aggressive strategy, their philosophy should reflect your aspirations and expectations.

• How do you prefer to communicate with clients?

  Communication method and frequency are crucial to a successful client-advisor relationship. Ask about how often you'll be able to meet with your advisor, whether they'll be in person or online, and how the advisor expects to keep you updated about how your investments are going and if you need any updates to your plan.

• 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 combination thereof. Grasping how an advisor is compensated will help you identify potential conflicts of interest and make certain that their recommendations are offered with your best interests in mind.

• Are you a fiduciary financial advisor?

  Confirming that an advisor is a fiduciary is essential. This means they are legally obligated to put your interests ahead of their own, giving advice that optimally benefits your financial goals and needs.

• What services do you offer beyond investment management?

  Many advisors provide extensive 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. Knowing 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 deal with them to ensure they don't harm their clients' financial plans. Fiduciary advisors must reveal conflicts of interest, and are required to 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 help you gauge whether there is a good personal fit. Remember, a strong relationship with your financial advisor is built on transparency, trust, and mutual understanding.

You can find many of these questions answered on our FAQ page.

How Much Does a Financial Advisor Cost in Toledo, OH?

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 financial products they offer, such as insurance policies. This fee structure can lead to a possible conflict, as the advisor might be incentivized to suggest products 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 most appropriate 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 various shapes, including hourly rates assets under management (AUM). This model is often seen as more clear and in line with the client's best interests, as it reduces conflicts of interest related to product sales.
3. 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, fee-based advisors generally also have a fiduciary duty, which means that even if they get commission from certain products, they must disclose that information to the client and are not allowed to recommend those products unless they sincerely believe they are in the client's best interests.

Correct Capital's Financial Advisory Services in Toledo, OH

Correct Capital stands out in the Toledo, OH financial advisory landscape for its customized approach to wealth management and financial planning. Understanding that not all clients have the same starting point or the same goals, we offer a variety of service models to our clients in Toledo, OH:

One-Time Financial Plan (best for validators)

This service model is ideal for those who are looking for the guidance and recommendations a financial advisor can offer without the ongoing management. This service is great 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 performs a thorough review of your financial landscape, supplying 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 value 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 insights from our financial advisors, quarterly meetings, 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 save and grow 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, comprehensive financial strategizing, and proactive advice 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 carefully managed by a dedicated team of professionals committed to maximizing their wealth and achieving their financial goals.

Why Choose Correct Capital as Your Toledo, OH Financial Advisor?

Correct Capital is a leading choice for individuals and families in Toledo, OH seeking 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, we 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 with your best interests at heart.
• Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Our independence signifies we are not 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 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 have over 100 years of combined experience.
• Proactivity is Our Approach: We hold the belief that the most valuable way to create long-term financial security is to anticipate 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 to keep you informed and engaged with your financial health. Our dedication to client education guarantees that you are well-equipped to make informed decisions alongside your advisor.

Choosing Correct Capital as your financial advisor in Toledo, OH means partnering with a team committed to your financial success. Our expertise, fiduciary commitment, and custom-tailored 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 Toledo, OH include:

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

Call Correct Capital's Toledo, OH Financial Advisor Team Today

The decisions you make about your finances and the choices you make with it are inherently personal. At Correct Capital, we firmly believe in the relationship between an individual, family, or entrepreneur in Toledo, OH and their financial advisor is founded on mutual 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 in retirement. Contact our Toledo, OH financial advisor team today at 877-930-4015 or start a conversation with us online to begin growing your wealth how you've always wanted.

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