Financial Advisor in Virginia Beach, VA

Financial Advisor in Virginia Beach, VA. Your hard-earned money deserves attention, and you want to be secure about how it's being managed and how it's being used. Numerous Virginia Beach residents do not have the financial literacy to feel sure they're making the best 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 different events happening around the world. That's when you should consider hiring a reliable, seasoned, and knowledgeable financial advisor. A Correct Capital financial advisor in Virginia Beach, VA will help your finances grow. We use in-depth analytics along with our extensive expertise to create personalized financial solutions for individuals, families, and businesses in Virginia Beach, VA and beyond. Reach out to 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 Virginia Beach, VA? Check out our process page to find out how easy we make it to find out if we would make a good team.

A 2018 study by FINRA revealed that 53 percent of American adults are nervous about their finances. A source of that concern is frequently simply not being sure they're making the right decisions with their money. Once our Virginia Beach, VA financial advisor team gets to know you, your current financial situation and your financial ambitions, we'll build a road map to help you accomplish them. As a fiduciary and an independent firm, your Correct Capital financial advisor is legally and ethically compelled to act in your best interest and we are not limited in the plans we can endorse. Our financial advisors in Virginia Beach, VA have certifications that can only be gained through exhaustive testing and by meeting stringent 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 estate planning. Financial advisors take a thorough view of your financial situation to suggest 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 indicate their experience and education.

Types of Financial Advisors in Virginia Beach, VA

There are several types of advisors that differ based on the services they provide, how they're paid, their professional expertise, and their legal obligations to customers:

• Investment Advisors or Portfolio Managers: These professionals offer 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. Investment advisors are registered with either the Securities and Exchange Commission (SEC) or state regulators, based 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 themselves. They must be registered by the SEC and are generally members of FINRA. The financial products they can sell depend on 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 holding the CFP certification have undergone extensive education and uphold the highest ethical standards, including a fiduciary duty to the people whose assets they help manage. CFPs provide a broad range of financial planning services, including debt management to retirement planning, and investment strategies. Their methodology is holistic, intended to satisfy all aspects of a client's financial life.
• Financial Consultants: This term can apply broadly, but chartered financial consultants (ChFCs) have completed training comparable with CERTIFIED FINANCIAL PLANNER™ Professionals and are also required to hold their clients' interests above their own. Like CFPs, ChFCs focus on offering comprehensive financial advice, covering areas such as investment management to retirement strategies, ensuring that customers' financial goals are met with the highest ethical standards.
• Financial Coaches: Are dedicated to boosting clients' financial literacy, guiding with fundamentals such as saving money and creating budgets. They are perfect for clients who are not yet wealthy enough to work with most financial advisors. Financial coaching provides a good starting point for managing personal finances wisely, particularly for those looking to take the first step towards financial wellbeing.
• Wealth Managers: Help high-net-worth individuals, offering a broad array of services that encompass estate planning, tax help, and investment management. They work closely with their clients to navigate complex financial situations and develop wealth preservation strategies. Their skill set is focused on maximizing the financial health and future of wealthy individuals, ensuring that all investments and planning strategies meet customized advice and solutions.

Each type of financial advisor offers unique expertise and services to the table. At Correct Capital, our group of advisors includes CFPs and other qualified professionals who represent the highest standards of fiduciary responsibility and personalized service, guaranteeing that we act exclusively in the best interest of our clients in all of our advice and dealings.

What Does a Financial Advisor Do?

A financial advisor will examine your present finances, pinpoint means to improve it, and help you achieve your long-term financial goals. Many Virginia Beach, VA residents typically immediately think of investing when they hear wealth management services and financial advisors. While that is a core element of any financial plan, an experienced financial advisor will be able to give you extensive financial advice that gives consideration to the whole of your finances. The following are some of the services your Correct Capital financial advisor in Virginia Beach, VA will utilize in order to help you accomplish your objectives.

• Financial Planning

  Our money is a part of almost anything we do, from making sure we're set up in retirement, to paying for college, buying and/or selling a home, deciding on insurance policies, and putting food on the table each night. The best financial advisors in Virginia Beach, VA offer holistic services and bespoke advice 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 70 percent of Americans overpay in taxes every year. The United States tax code is notoriously complex, yet it allows for perfectly legal ways to minimize taxes owed. A reliable and expert Virginia Beach, VA financial advisor will assist you in navigating your tax implications in the interest of 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 alternative assets such as real estate. A financial advisor in Virginia Beach, VA will assist in allocating 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 retire, your Virginia Beach, VA financial advisor will assist with tax implications, evaluating the optimal time to retire, when to make withdrawals and how much to take out. A financial advisor will assist in formulating a budget and strategy for source of income in retirement so you can spend your golden years just how you want to.

• 401(k) Services

  We offer 401(k) services to individuals and families as well as Virginia Beach, VA businesses and business owners. Implementing a 401(k) plan is a fantastic way to retain your best employees and keep them motivated and happy. Our retirement consultants represent over $218 million in plan assets and numerous of plan participants nationwide. Our Virginia Beach, VA financial advisor team offers comprehensive 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 manage the money you've accumulated in a previous Virginia Beach, VA employer's 401(k) plan. You have several options, including 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 have the knowledge how to best manage handling your 401(k) funds.

• Generational Wealth Transfers

  You work hard for your money, and it's natural to want to leave a legacy and leave some wealth to the people you care about the dearly. Wealth transfers are separate from merely leaving gifts behind in estate planning. A financial advisor in Virginia Beach, VA can best position your money for both your children but for generations to come, even ones you haven't met yet.

• Fiduciary Advising

  Anyone can give themselves the title of "financial advisor," so it's vital to pick one who has earned accreditations and certifications from regulatory bodies such as the CFP Board, Fi360, InFRE, and FINRA. As fiduciary advisors and CERTIFIED FINANCIAL PLANNER™™ professionals, your Virginia Beach, VA 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 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 matches your financial situation and goals, ultimately leading to stability.

• Budgeting

  Creating and staying compliant with a budget is crucial to achieving financial health and goals. Financial advisors in Virginia Beach, VA can help clients comprehend their cash flow, spot areas to spend less, and set realistic spending limits that promote wealth accumulation. By providing tools and strategies for efficient budgeting, advisors make sure that clients can meet their current financial obligations while also saving for future goals.

When you hire a Virginia Beach, VA 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. Next we've completed that, we'll work in tandem 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 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.

Do I Need to Speak to a Financial Advisor in Virginia Beach, VA?

Seeking the guidance of a financial advisor can be a vital step towards achieving financial health, peace of mind, and wealth. While the right time can vary widely from person to person, certain life events and circumstances often indicate the need for professional financial advice.

• Major Life Changes: Life is a long line of transitions, and many of them have major financial implications. Whether you're starting a family or changing careers, these milestones can profoundly affect how your money should be used and invested. A financial advisor can help you manage these changes, ensuring that your financial plan grows to meet your new situation and goals.
• Lack of Experience, Time, Knowledge, or Interest to Manage Your Finances Alone: Managing personal finances can be complicated, demanding, and, frankly, overwhelming for many. If you lack the experience to effectively handle your investments, or simply prefer to focus your energy on other pursuits, a financial advisor can be invaluable. They bring experience and perspective to your financial decisions, aiding 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 foremost reasons individuals seek out financial advice. An advisor can aid you evaluate your current financial situation, estimate 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 distribution strategies from retirement accounts.
• Complex Financial Products: The financial market offers a plethora of investment options, many of which come with their own set of 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 vital. They can help you understand 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 comes to your finances. In addition to finding a dependable advisor, you need one whose specialties align with your needs. It's important to inquire properly during your initial meetings. Here are key questions to consider:

• What is your experience in the financial advisory field?

  Understanding an advisor's track record, including their time spent in the industry, the varieties of clients they've worked with, and their expert areas, can provide you a sense of their expertise and whether they're equipped to manage your financial situation.

• What are your qualifications and certifications?

  Inquire about any qualifications (e.g., CFP®, CFA, ChFC) the advisor holds. These credentials often require meeting rigorous educational, experience, and ethical standards, indicating a high level of professionalism 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 be in harmony with your aspirations and expectations.

• How do you prefer to communicate with clients?

  Communication method and regularity are crucial to a productive client-advisor relationship. Ask about how often you'll be able to meet with your advisor, whether they'll be face-to-face or virtual, and how the advisor expects to keep you updated about your investments and financial plan.

• What's your fee structure?

  Advisors can be fee-only, commission-based, or a combination thereof. Knowing how an advisor is compensated will enable you to discern potential conflicts of interest and make certain that their advice is offered with your best interests in mind.

• Are you a fiduciary financial advisor?

  Confirming that an advisor acts as a fiduciary is vital. This means they are legally required to put your interests before 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 extensive 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. Grasping 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 transparently share potential conflicts of interest and how they address them to ensure they don't harm 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 provide you with 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 Virginia Beach, VA?

In general, there are three common ways for financial advisors to be compensated:

1. Commission-Based: Advisors who earn through commissions earn their income through commissions on the products they sell, such as insurance policies. This fee structure can create 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 advise on products that can help you achieve your goals, but not necessarily the ones most appropriate to your needs.
2. 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 various shapes, including fixed fees assets under management (AUM). This model is frequently regarded 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: 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, such advisors typically 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 Virginia Beach, VA

Correct Capital is distinguished in the Virginia Beach, VA financial advisory landscape for its customized approach to wealth management and financial planning. Understanding that not all clients have the same starting point or identical goals, we offer a variety of service models to our clients in Virginia Beach, VA:

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 continuous oversight. This service is great for individuals who largely feel good about managing their finances but seek professional insight to ensure they're setting their money up for success in the best way. Our team conducts 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 caters to people 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 updates from our financial advisors, regular check-ins every quarter, and availability on an as-needed basis. While we won't be managing your portfolio, we'll strive to look for opportunities to help you flourish financially.

Wealth Management (best for delegators)

Our wealth management service model is for clients who choose to hand over the management of their investments and financial planning to professionals. This includes active portfolio management, strategic financial planning, and forward-looking guidance on a wide range of financial matters — from tax planning and preparing for retirement to estate considerations and beyond. Our wealth management clients enjoy a sense of security, knowing that every aspect of their financial well-being is being overseen by a dedicated team of professionals committed to maximizing their wealth and achieving their financial goals.

Why Choose Correct Capital as Your Virginia Beach, VA Financial Advisor?

Correct Capital is a leading choice for individuals and families in Virginia Beach, VA 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, Correct Capital are legally obligated to act in your best interests. This commitment ensures 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, enabling us the freedom to choose the best investments and strategies for you.
• Our Qualifications: We are a Registered Investment Advisor (RIA), which allows us access to a wide variety of investment solutions and research. Our advisor team includes a couple of CERTIFIED FINANCIAL PLANNER™ professionals, an Accredited Investment Fiduciary (AIF®), an Enrolled Agent, and a CPA. Additionally, our retirement consultants and financial portfolio managers have over 100 years of combined experience.
• Proactivity is Our Approach: Our advisors believe that the most valuable way to create long-term financial security is to stay ahead of trends and lead, rather than follow. Leveraging in-depth research and analytics, our aim is to craft the most appropriate strategy for your needs.
• Continuous Learning Opportunities: Correct Capital offers quarterly webinars and workshops aimed at keeping you up-to-date and engaged with your financial health. Our commitment to client education guarantees that you are fully prepared to make informed decisions together with your advisor.

Choosing Correct Capital as your financial advisor in Virginia Beach, VA means partnering with a team dedicated 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 Virginia Beach, VA include:

• High-Net-Worth Wealth Management
• Retirement Planner
• Financial Planning
• Retirement Plan Consultants
• Fiduciary Financial Advisor

Call Correct Capital's Virginia Beach, VA Financial Advisor Team Today

The decisions you make about your finances and the choices you make with it are inherently personal. At Correct Capital, we strongly believe that the relationship between an individual, household, or business owner in Virginia Beach, VA and their financial advisor is founded on trust. Dedicating our lives to helping our clients achieve their personal and financial goals, be it sending your children to college or making the dream purchase of that dream car during your retirement years. Contact our Virginia Beach, VA financial advisor team today at 877-930-4015 or start a conversation with us online to take the first step towards building your wealth in the manner you desire.

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