Financial Advisor in Tulsa, OK. You work hard for your money, and you want to be assured about how it's expanding and how it's being used. A lot of Tulsa residents do not have the financial literacy to feel confident they're making the optimal decisions with their money, while others are too busy or interest to stay up to date on financial markets along with new laws, regulations, and global events. That's when you need a trustworthy, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Tulsa, OK 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 Tulsa, OK and beyond. Speak to a team member today at 877-930-4015 or contact us online to learn how Correct Capital can help you.
Not sure if you're ready to hire a financial advisor in Tulsa, OK? Explore our process page to discover how straightforward we make it to find out if we would make a good team.
A 2018 study by FINRA reported that 53 percent of American adults are worried about their finances. A source of that concern is frequently just not being sure they're putting their money in the right places. Once our Tulsa, OK financial advisor team gets to know you, your finances and your financial objectives, we'll create a road map to help you achieve them. As a fiduciary and an independent firm, every Correct Capital financial advisor is required to act in your best interest and we are not limited in the solutions we can suggest. Our financial advisors in Tulsa, OK 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 wide-ranging definition includes 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 suit 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 Tulsa, OK
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 advisors provide advice on securities and manage 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, depending on the assets under management.
- 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 depend on their specific licenses, such as Series 6 or Series 7. For instance, an advisor 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): Professionals with the CFP designation have undergone extensive education and uphold the highest ethical standards, particularly a fiduciary duty to the people whose assets they help manage. CFPs provide a vast spectrum of financial advisory services, including managing debt to retirement planning, and investment strategies. Their methodology is holistic, aiming to address every aspect of a client's financial life.
- Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have undergone training comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and are also bound by a fiduciary duty. They focus on providing holistic financial advice, encompassing everything from estate planning to retirement strategies, ensuring that clients' financial goals are achieved through the highest ethical standards.
- Financial Coaches: Focus on boosting clients' financial literacy, guiding with fundamentals such as saving money and budgeting. They are ideal for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching offers a strong basis for handling personal finances effectively, particularly for those just starting out.
- Wealth Managers: Serve high-net-worth individuals, offering comprehensive services that encompass estate planning, tax assistance, and investment management. They work closely with their clients to handle complex financial situations and formulate wealth preservation strategies. Their skill set is tailored for enhancing the financial health and future of affluent clients, ensuring that their clients' goals and aspirations are met through personalized 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 includes CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, making sure that we act solely in the best interest of our clients across all our engagements.
What Does a Financial Advisor Do?
A financial advisor will evaluate your present financial situation, ascertain ways to improve it, and help you reach your long-term financial goals. A lot of Tulsa, OK residents often immediately think of investing when they hear wealth management services and financial advisors. While that is a core element of any financial plan, a qualified financial advisor will be able to give you comprehensive financial advice that gives consideration to the whole of your finances. Below are some of the services your Correct Capital financial advisor in Tulsa, OK will utilize in order to help you reach your objectives.
- Financial Planning
Our finances are involved in almost anything we do, from making sure we're prepared for retirement, to education, real estate transactions, choosing insurance policies, and making sure we have enough to eat every night. The best financial advisors in Tulsa, OK offer holistic services and personalized consulting by taking into account your entire financial situation.
- Tax Planning
Tax considerations play a role in almost every financial transaction and transfer. According to the IRS's own data, over 70 percent of Americans overpay in taxes every year. The United States tax code is incredibly complicated, yet it provides perfectly legal means to lower your taxes. A skilled and ethical Tulsa, OK 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 assembly of your financial assets. They can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash equivalents, or alternative assets such as real estate. A financial advisor in Tulsa, OK will help to allocate 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 the kind of life you want to live when you hang up your cape, your Tulsa, OK financial advisor will assist with tax implications, evaluating the best age to retire, when to withdraw money and how much to withdraw. A financial advisor will help you formulate a budget and plan for where your income will come from 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 Tulsa, OK businesses and business owners. Introducing a 401(k) plan is a superb way to retain your best employees and keep them motivated and happy. Our retirement consultants oversee over $218 million in plan assets and hundreds of plan participants nationwide. Our Tulsa, OK financial advisor team offers thorough 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 challenging to know the best way to handle the money you've accumulated in a previous Tulsa, OK employer's 401(k) plan. You have multiple 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 variety of IRA accounts. A financial advisor will know how to best approach handling your 401(k) funds.
- Generational Wealth Transfers
You earn your money, and it's normal to wish to leave a legacy and pass on 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 Tulsa, OK can optimize your money for not only your children but for future generations to come, even ones you haven't met yet.
- Fiduciary Advising
Anyone can call themselves a "financial advisor," so it's essential to choose one who has received accreditations and certifications from regulatory boards such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Tulsa, OK financial advisor at Correct Capital must obey 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 consolidating debt, achieving lower interest rates if feasible, and prioritizing repayments. The goal is to create a workable path forward that matches your financial capabilities and goals, eventually leading to financial freedom.
- Budgeting
Creating and staying compliant with a budget is essential to having the financial health and life you want. Financial advisors in Tulsa, OK can assist clients comprehend their cash flow, find areas to spend less, and set realistic spending limits that encourage growing your wealth. By providing tools and strategies for effective budgeting, advisors make sure that clients can meet their current financial obligations while also planning for future goals.
When you hire a Tulsa, OK financial advisor at Correct Capital, we begin by getting to know you and your objectives. We will analyze your current income, assets, investments, debts, and expenses. Once we've accomplished that, we'll work with you to establish your preferred risk tolerance and how we can best help you grow your money. As an independent advisory firm, our only commitment 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 Consider Hiring a Financial Advisor in Tulsa, OK?
Seeking the advice of a financial advisor can be a key step towards achieving financial well-being, peace of mind, and wealth. While the right time can differ greatly from person to person, certain life events and circumstances often signal the need for expert financial advice.
- Major Life Transitions: Life is a series of changes, and many of them have significant financial implications. Whether you're starting a family or facing retirement, these milestones can dramatically affect how your money should be used and invested. A financial advisor can assist you navigate these changes, ensuring that your financial plan evolves to meet your evolving circumstances 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 don't have the knowledge to successfully handle your investments, or simply prefer to focus your time elsewhere, a financial advisor can be invaluable. They bring insight and objectivity to your financial decisions, helping to enhance your portfolio, prevent costly mistakes, and set up your investments for future success.
- Nearing Retirement: Retirement planning is one of the most common reasons individuals seek out financial advice. An advisor can aid 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 withdrawal plans 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 essential. They can guide 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 especially so when it involves your hard-earned money. Beyond just finding a trustworthy advisor, you need one who perfectly matches 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 time spent in the industry, the types of clients they've worked with, and their expert areas, can provide you a sense of their skills and whether they're equipped to tackle your specific financial circumstances.
- What are your qualifications and certifications?
Inquire about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These accreditations often require fulfilling demanding educational, experience, and ethical standards, indicating a high level of expertise and expertise.
- Can you describe your investment philosophy?
An advisor's investment philosophy should complement your risk tolerance and financial goals. Whether they favor a conservative approach with a focus on long-term growth or a more dynamic strategy, their philosophy should reflect your expectations and expectations.
- How do you usually communicate with clients?
Communication style and frequency are vital to a fruitful client-advisor relationship. Ask about how often you'll be able to meet with your advisor, whether they'll be in person or virtual, and how the advisor expects to keep you informed about your investments and financial plan.
- What's your fee structure?
Advisors can be either get money from fees/a percentage of your assets, commission from selling financial products, or a combination thereof. Understanding how an advisor is compensated will assist you in identifying potential biases and guarantee that their recommendations are given with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor acts as a fiduciary is vital. This means they are bound by law 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 assist you in determining 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 adversely affect 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 Tulsa, OK?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Commission-based advisors earn their income through commissions on the financial products they offer, such as mutual funds. This fee structure can lead to a possible conflict, as the advisor might be incentivized to suggest options that generate higher commissions rather than those that are most suited to your financial goals. Commission-based advisors are typically held to the suitability standard as opposed to the fiduciary standard, which means they have to advise on products that can help you achieve your goals, but not necessarily the ones best suited to your needs.
- Fee-Only: Advisors on a fee-only basis are compensated straightforwardly by clients for the guidance and assistance they provide and do not receive any commissions from product sales. This compensation can take several forms, including fixed fees assets under management (AUM). This model is 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: Advisors with a fee-based approach 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 reveal this to the client and cannot recommend those products unless they sincerely believe they are in the client's best interests.
Correct Capital's Financial Advisory Services in Tulsa, OK
Correct Capital is distinguished in the Tulsa, OK financial advisory landscape for its bespoke approach to wealth management and financial planning. Understanding that not all clients have the same starting point or identical goals, we offer three different service models to our clients in Tulsa, OK:
One-Time Financial Plan (best for validators)
This service model is best for those who are looking for the guidance and recommendations a financial advisor can offer without the ongoing management. This service is great for individuals who largely feel good about managing their finances but seek professional insight to ensure they're on the right track. Our team performs a thorough review of your current financial situation, supplying you with a detailed plan that addresses your specific goals, concerns, and opportunities for growth.
Subscription (best for collaborators)
Our subscription service is designed for 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 open availability if the need ever arises. While we will not be managing your portfolio, we'll work 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 hand over 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 planning 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 dedicated to maximizing their wealth and achieving their financial goals.
Why Choose Correct Capital as Your Tulsa, OK Financial Advisor?
Correct Capital is a leading choice for individuals and families in Tulsa, OK looking for reliable, expert financial guidance. Here's why choosing Correct Capital can make a significant difference in your financial journey:
- We are Fiduciary Advisors: As fiduciaries, we 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 carried out in a way that aligns most closely with your goals.
- Our I.O.U. Promise: Every piece of guidance we offer is independent, objective, and unbiased. Being independent signifies we aren't tied to any financial institution or product, allowing us the freedom to select the best investments and strategies for you.
- Professional Credentials: 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.
- 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, we prepare the most appropriate strategy for your needs.
- Ongoing Education and Resources: 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 well-equipped to make informed decisions alongside your advisor.
Choosing Correct Capital as your financial advisor in Tulsa, OK means partnering with a team dedicated to your financial success. Our experience, fiduciary commitment, and custom-tailored approach to financial planning and investment management make us the perfect choice for individuals and families looking to achieve their financial goals and safeguard their future.
Other services we offer in Tulsa, OK include:
Call Correct Capital's Tulsa, OK Financial Advisor Team Today
Your money and the choices you make with it are deeply personal. At Correct Capital, we firmly believe in the relationship between an individual, family, or business owner in Tulsa, OK and their financial advisor is founded on trust. Committed to helping our clients achieve their financial and personal goals, be it funding higher education for your children or making the dream purchase of that dream car during your retirement years. Reach out to our Tulsa, OK financial advisor team today at 877-930-4015 or get in touch with us online to begin growing your wealth in the manner you desire.
