Financial Advisor in Tulsa, OK. Your hard-earned money deserves attention, and you want to feel assured about how it's being managed and how it's being used. Many Tulsa residents lack the financial literacy to feel sure they're making the best decisions with their money, while others are too busy or interest to stay informed on financial markets along with new laws, regulations, and different events happening around the world. That's when you need a trustworthy, experienced, and knowledgeable financial advisor. A Correct Capital financial advisor in Tulsa, OK will help your finances grow. 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 through our website to see if Correct Capital is a good fit for you.
Uncertain if you're ready to work with a financial advisor in Tulsa, OK? Check out our process page to find out how straightforward we make it to determine if we would make a good team.
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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 anxious about their finances. The cause of that apprehensiveness is commonly simply not being sure they're putting their money in the right places. After our Tulsa, OK financial advisor team gets to know you, your finances and your financial aims, we'll design a road map to help you accomplish them. As a fiduciary and an independent firm, your Correct Capital financial advisor is legally and ethically bound to act in your best interest and we are not limited in the plans we can put forward. Our financial advisors in Tulsa, OK have certifications that can only be awarded through rigorous testing and by meeting stringent education requirements.
What Is a Financial Advisor?
A financial advisor is a professional who provides advice on managing personal finances and investments. This role covers a spectrum of services, from portfolio management and retirement planning to tax planning and generational wealth transfers. The primary goal of a financial advisor is to help individuals and organizations reach their financial objectives by creating strategies that align with their risk tolerance, financial situation, and long-term goals. While technically anyone can call themselves a financial advisor or financial planner, reliable and professional advisors will have accreditations from organizations such as FINRA and the CFP Board that can only be obtained through rigorous education and exams.
Types of Financial Advisors in Tulsa, OK
There are several types of advisors that vary based on the services they offer, how they're paid, their areas of expertise, and their legal obligations to clients:
- Investment Advisors or Portfolio Managers: These professionals provide advice on securities and oversee investment portfolios. They often work in RIAs and are required to serve as fiduciaries, 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 size of the assets they manage.
- Broker-Dealers and Brokers: Broker-dealers buy and sell securities like stocks, bonds, and mutual funds on behalf of 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, a broker who has a Series 7 license represents general securities, including mutual funds and exchange-traded funds (ETFs).
- CERTIFIED FINANCIAL PLANNER™ Professionals (CFPs): Advisors with the CFP designation have undergone extensive training and adhere to the highest ethical standards, particularly a fiduciary duty to their customers. CFPs provide a broad range of financial planning services, including debt management to planning for retirement, and tax optimization strategies. This approach is all-encompassing, intended 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 CFPs and are also required to hold their clients' interests above their own. They focus on offering holistic financial advice, covering areas such as estate planning to tax advice, ensuring that customers' financial goals are met with the highest ethical standards.
- Financial Coaches: Are dedicated to improving clients' financial literacy, helping 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. Financial coaching provides a strong basis for managing personal finances wisely, particularly for those in the early stages of financial planning.
- Wealth Managers: Specialize in serving high-net-worth individuals, offering a broad array of services that include estate planning, tax assistance, and investment management. They collaborate intimately with their clients to handle complex financial situations and implement wealth preservation strategies. This expertise is geared towards enhancing the financial health and legacy of those with substantial assets, making sure that every financial decision is aligned with customized advice and strategies.
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 group of advisors features CFPs and other qualified professionals who uphold the highest standards of fiduciary responsibility and personalized service, making sure 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 current financial situation, ascertain ways to improve it, and help you reach your future financial goals. A lot of Tulsa, OK residents commonly immediately think of investing when they consider wealth management services and financial advisors. While that is a fundamental feature of any financial plan, an experienced financial advisor will be able to give you all-encompassing financial advice that takes into account the entirety of your finances. Below are some of the services your Correct Capital financial advisor in Tulsa, OK will implement to help you meet your objectives.
- Financial Planning
Our money is integral to almost anything we do, from making sure we're prepared for retirement, to paying for college, real estate transactions, deciding on insurance policies, and making sure we have enough to eat every night. The best financial advisors in Tulsa, OK offer all-encompassing services and tailored guidance by evaluating 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 70 percent of Americans pay more than necessary in taxes every year. The United States tax code is incredibly complicated, yet it provides perfectly legal ways to lower your taxes. A professional and trustworthy Tulsa, OK financial advisor will help you navigate your tax implications in the interest of keeping more money in your own account.
- 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 assist in allocating and diversify your assets to mitigate risk and optimally position your money for long-term success.
- Retirement Planning
Depending on where you currently are in life and the kind of life you want to live when you retire, your Tulsa, OK financial advisor will assist with tax implications, considering the best age to retire, when to make withdrawals 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 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 Tulsa, OK businesses and business owners. Introducing a 401(k) plan is a fantastic way to maintain your best employees and keep them motivated and happy. Our retirement consultants manage over $218 million in plan assets and numerous of plan participants nationwide. Our Tulsa, OK financial advisor team offers thorough 401(k) planning for companies as well as individualized benefits for their employees.
- 401(k) Rollover
When starting a new job, it can be challenging to know the best way to handle the money you've already saved in a previous Tulsa, OK employer's 401(k) plan. You have multiple options, including leaving the money in the account it is in now, moving it to a new 401(k), or putting the money in one of a variety of IRA accounts. A financial advisor will be skilled in how to best approach managing your 401(k) funds.
- Generational Wealth Transfers
You strive for your money, and it's common to desire to leave a legacy and pass on some wealth to the people you care about the most. Wealth transfers are separate from simply leaving gifts behind in estate planning. A financial advisor in Tulsa, OK 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 imperative 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 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 personalized debt management plans that focus on consolidating debt, securing lower interest rates if feasible, and prioritizing repayments. The goal is to create a manageable path forward that suits your financial capabilities and goals, ultimately leading to stability.
- Budgeting
Creating and sticking to a budget is crucial to having the financial health and life you want. Financial advisors in Tulsa, OK can assist clients comprehend how much money's coming in, identify areas for savings, and set realistic spending limits that promote growing your wealth. By providing resources and strategies for successful budgeting, advisors ensure that clients can meet their current financial obligations while also saving for future goals.
When you hire a Tulsa, OK financial advisor at Correct Capital, we begin by getting to know you personally and your goals. We will analyze your current income, assets, investments, debts, and expenses. Next we've completed that, we'll work in tandem 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 job is to act in your best interest. There is no limit 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.
Do I Need to Speak to a Financial Advisor in Tulsa, OK?
Seeking the assistance of a financial advisor can be a vital 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 Changes: Life is a long line of transitions, and many of them have significant financial implications. Whether you're buying a home or facing retirement, these milestones can dramatically affect your financial landscape. A financial advisor can guide you through these changes, ensuring that your financial plan evolves to meet your new circumstances 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 aren't confident to effectively handle your investments, or simply choose to spend your time on other pursuits, a financial advisor can be invaluable. They bring expertise and perspective to your financial decisions, aiding to improve your portfolio, prevent costly mistakes, and set up your investments for sustainable growth.
- Getting Close to Retirement: Retirement planning is one of the foremost reasons individuals seek out financial advice. An advisor can assist you review your current financial situation, calculate your retirement needs, and devise a plan to ensure you can enjoy your retirement years comfortably. 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 complexities. If you're considering investments in complex financial products—such as derivatives, alternative investments, or tax-optimized strategies—an advisor's knowledge can be crucial. They can help you understand the risks and benefits, ensuring that any investment aligns with your overall financial strategy and goals.
Questions to Ask a Financial Advisor Before Hiring Them
Trust is essential whenever you hire someone to do something, but especially so when it involves your finances. In addition to finding a reliable 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 experience, including their years in the industry, the varieties of clients they've assisted, and their areas of expertise, can give you a sense of their expertise and whether they're prepared to tackle 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 demanding educational, experience, and ethical standards, signifying a high level of professionalism 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 be in harmony with your aspirations and expectations.
- How do you prefer to communicate with clients?
Communication method and regularity are vital to a productive client-advisor relationship. Discuss how often you'll have meetings, whether they'll be in person or virtual, and how the advisor plans to keep you informed 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. Knowing how an advisor is compensated will assist you in identifying potential biases and make certain that their advice is given with your best interests in mind.
- Do you have a fiduciary duty to your clients?
Confirming that an advisor serves as a fiduciary is vital. This means they are legally obligated to put your interests before their own, providing advice that best serves 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. 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 transparently share potential conflicts of interest and how they deal with them to ensure they don't negatively impact their clients' financial plans. Fiduciary advisors must make known conflicts of interest, and are required to 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 Tulsa, OK?
In general, there are three common ways for financial advisors to be compensated:
- Commission-Based: Advisors who earn through commissions make their earnings through commissions on the products they sell, such as insurance policies. This fee structure can create a possible conflict, as the advisor could be motivated to suggest 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 advise on products that can aid in achieving your goals, but not necessarily the ones most appropriate to your needs.
- Fee-Only: Fee-only advisors 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 hourly rates assets under management (AUM). This model is frequently regarded as more clear and in line 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 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 typically 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 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 stands out in the Tulsa, OK financial advisory landscape for its customized approach to wealth management and financial planning. Recognizing 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 seeking 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 desire professional insight to ensure they're on the right track. Our team performs a thorough review of your current financial situation, providing you with a detailed plan that addresses your specific goals, concerns, and growth opportunities.
Subscription (best for collaborators)
Our subscription service is designed for individuals who value consistent guidance and advice as their financial situation evolves, or when they have specific questions about something related to their finances. This model offers monthly insights from our financial advisors, quarterly meetings, and availability on an as-needed basis. While we will not be managing your portfolio, we'll work to look for opportunities to help you grow and save your wealth.
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 portfolio management, comprehensive financial strategizing, and forward-looking guidance on a wide range of financial matters — from tax strategies and preparing for retirement 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 realizing their financial goals.
Why Choose Correct Capital as Your Tulsa, OK Financial Advisor?
Correct Capital is a premier choice for individuals and families in Tulsa, OK 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, we are legally obligated to act in your best interests. This commitment ensures that every piece of advice, every investment recommendation, and every strategic decision we make on your behalf is carried out with your best interests at heart.
- Our I.O.U. Promise: All the advice we offer is independent, objective, and unbiased. Our independence means we are not tied to any financial institution or product, allowing us the freedom to choose the best investments and strategies for you.
- Professional Credentials: We are a Registered Investment Advisor (RIA), which allows us 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 anticipate trends and lead, rather than follow. Leveraging the latest data and software to analyze trends, our aim is to craft the most appropriate strategy for your needs.
- Continuous Learning Opportunities: We offer at Correct Capital quarterly webinars and workshops aimed at keeping you up-to-date and engaged with your financial health. Our dedication to client education guarantees that you are well-equipped to make informed decisions together with your advisor.
Choosing Correct Capital as your financial advisor in Tulsa, OK 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 perfect choice for individuals and families seeking to achieve their financial goals and secure their future.
Other services we offer in Tulsa, OK include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
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 strongly believe that the relationship between an individual, family, or entrepreneur in Tulsa, OK and their financial advisor is founded on trust. Dedicating our lives to helping our clients achieve their financial and personal goals, whether it's sending your children to college or making the dream purchase of that dream car in retirement. Contact our Tulsa, OK financial advisor team today at 877-930-4015 or start a conversation with us online to begin building your wealth in the manner you desire.