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Financial Advisor Mobile

Financial Advisor Mobile, AL

Where do you want to go? We'll get there, together.

Mobile is a city with a rich history, culture, and natural beauty. It is located on the Mobile River at the head of Mobile Bay, which is the only saltwater port in Alabama. The port plays a key role in the city’s economy and trade. It is a popular destination for fishing, boating, and wildlife viewing. Mobile is the second-largest city in Alabama, with a population of over 204,000 residents.

The city is also famous for being the birthplace of Mardi Gras in America. The first Mardi Gras celebration took place in Mobile in 1703, long before New Orleans adopted the tradition. Today, Mobile hosts one of the country's largest and oldest Mardi Gras festivals, with parades, balls, costumes, and music.

Mobile is not only a city of history and culture but also a city of innovation and progress. Mobile is home to several major industries, such as aerospace, shipbuilding, steel, chemical, health care, and education. Mobile is also a hub for technology entrepreneurship, with several startups and incubators. It’s not surprising that Mobile is also home to many successful financial advisors and firms.

Peters Financial is an independent financial advisory firm based in Mobile, Alabama. The firm’s mission is to listen, understand, and provide thoughtful advice to help others achieve financial freedom. With over forty years of experience, our financial advisors bring a wealth of knowledge to the table and are ready to create a personalized strategy that is unique to your financial goals and dreams.

The firm offers a full range of investment and financial services and has access to a wide array of solutions. As an independent financial advisory firm, Peters Financial is under no obligation to represent or use specific financial products. Our financial advisors offer objective advice, based solely on your needs, with no obligation to proprietary products. Advisors employed by larger firms may be required to recommend products produced by their firms, which may not always be the best fit.

Peters Financial is a client-centered firm that focuses on building long-term relationships that encourage open and honest communication. Every recommendation is made with the client’s best interest at the forefront. Our financial advisors take the time to understand not only your financial situation, but your values and vision for your future and your family.

No matter where you are in life – just starting out, in your peak earning years, or nearing retirement – the Peters Financial team is here for you. We are not just your financial advisors; we are your partners in success.

Mobile Alabama Team

Edwin L. "Pete" Peters, Jr.

Principal, Financial Advisor

Edwin L. "Lee" Peters, III

Financial Advisor

Yvonne Kelly

Client Service Manager

Carin Kantala

Client Services Associate

Taylor Fuller

Client Services Associate

Payton Collins

Marketing & Operational Specialist

Our Services

At Peters Financial, we’ve helped thousands of high net worth clients feel more confident about their money. Instead of one-size-fits-all advice, we offer customized, family-office-style solutions that provide the specialized expertise you won’t outgrow.

Financial Planning involves assessing your current financial situation and developing a clear strategy to achieve your goals. This comprehensive approach considers key areas like investments, taxes, savings, retirement, estate planning, and insurance. Our financial advisors are committed to assisting you in establishing a strong financial plan. Our goal is to alleviate any monetary worries you may have, support your present needs, and set you up for a secure future.

Investment planning is crucial for your financial security. It allows you to achieve your goals by selecting suitable investments based on your ability to handle risks and your time frame. Our financial advisors will guide you in choosing investment strategies that align with your goals. They'll also consistently assess your investment performance and make adjustments when needed to keep you on the right path. Trust our experts to help you make informed decisions and achieve financial success.

Retirement planning is preparing for life after you stop working. This includes setting a goal for when to retire, estimating your income needs, eliminating excess debt, and growing your savings. Our financial advisors will talk to you about your retirement goals and how to achieve them once you stop working. Your retirement plan will likely include qualified retirement plans, Social Security, personal savings, and investments.

Estate Planning involves preparing for end-of-life matters and taking charge of your legacy. While it may seem morbid and overwhelming, having a well-informed plan can greatly impact what you leave behind for your loved ones. Some essential components of estate planning encompass developing a will or trust, securing power of attorney, choosing beneficiaries, engaging in charitable giving, and much more. Our team of financial advisors work hand in hand with you and your attorney to ensure that your assets and intentions are clearly outlined.

College planning involves preparing for the future education expenses of your child or grandchild. These days college planning is crucial because of the persistent increase in the cost of higher education over time. To tackle this challenge, starting a college savings plan early has become extremely important. Luckily, there are several college savings programs available at both federal and state levels that offer tax advantages. Our team of financial advisors have the expertise and resources to assist you in navigating through these programs. By taking the right steps today, you can ensure that your children and grandchildren have the opportunity to pursue their dreams at their university of choice and achieve academic success.

Peters Financial understands the significance of selecting the right retirement plan for your business. Our team of financial advisors will thoroughly acquaint themselves with your business to evaluate the most suitable retirement plan choices for you and your employees. We offer a range of services, including 401(k) Plans, SEP IRA Plans, Simple IRA Plans, Profit-Sharing Plans, Combined 401(k) and Profit-Sharing Plans, Employee Stock Ownership Plans, and Solo Defined Benefit Plans. Rest assured, we have a retirement plan that will align perfectly with your specific needs and goals.

Life is unpredictable. That's why insurance exists. It's a valuable tool that safeguards you and your loved ones from unexpected situations. Whether it's an accident, an illness, or the unthinkable, insurance offers peace of mind. At Peters Financial, our financial advisors are here to guide you toward the right insurance that will bring you that sense of security. We offer three types of insurance services: life insurance, disability insurance, and long-term care insurance.

Address
153 West I 65 Service Road North
Mobile, AL 36608
Hours
Monday - 8am-5pm
Tuesday - 8am-5pm
Wednesday - 8am-5pm
Thursday - 8am-5pm
Friday - 8am-5pm
Toll-Free
(800) 554-4599

Frequently Asked Questions

Financial advisors play a crucial role in helping individuals manage their finances and work towards their financial goals. They provide professional guidance and expertise in various areas of personal finance, ensuring that their clients make informed decisions. The general areas of expertise include financial planning, investment advice, and retirement planning. Some financial advisors may offer additional services based on their expertise and clients’ needs. These can include tax planning, estate planning, insurance analysis, education funding, and legacy planning.

Remember, the role of a financial advisor is to provide objective advice and assist in making informed financial decisions. They act as a partner and guide, helping you navigate complex financial matters and working towards your financial well-being.

Deciding when to hire a financial advisor depends on many factors. No one answer applies to all, but certain situations may require financial guidance. Here are a few key factors to consider:

  • Complex Financial Goals: If you have complex financial goals such as retirement planning, estate planning, or tax optimization, it can be beneficial to seek the expertise of a financial advisor. They can help you navigate the complexities and develop a comprehensive plan to achieve your objectives.
  • Professional Peace of Mind: Not everyone has the time or expertise to manage their finances effectively. Hiring a financial advisor can save you valuable time and provide you with peace of mind knowing that a professional is overseeing your financial affairs.
  • Life Events: Life events like marriage, birth of a child, divorce, or inheritance can significantly impact your financial situation. A financial advisor can help you navigate through these changes and provide guidance on how to adjust your financial plans accordingly.
  • Lack of Knowledge: If you lack knowledge or experience in investments, a financial advisor can provide valuable insights and help you make informed investment decisions. They can assess your risk tolerance, determine suitable investment options, and monitor your portfolio for optimal performance.
  • Objective Third-Party: Sometimes, it's beneficial to have an objective third-party perspective on your financial situation. A financial advisor can provide unbiased advice, identify blind spots, and offer personalized strategies tailored to your specific circumstances.
  • Captain for Stormy Seas: During times of market volatility or emotional stress, it can be challenging to make rational financial decisions. A financial advisor can act as a calming influence, guiding you through turbulent times and helping you avoid impulsive decisions that could negatively impact your long-term financial well-being.

The decision to hire a financial advisor is highly personal and should align with your individual needs and circumstances. Consider the complexity of your financial goals, available time and expertise, and any major life events that may impact your financial situation. By carefully evaluating these factors, you can determine whether hiring a financial advisor is the right choice for you.

Selecting the right financial advisor is a critical decision that can significantly impact your financial future. By considering these practical tips, you can ensure that you find an advisor who aligns with your individual preferences and needs.

  • Before embarking on your search for a financial advisor, take the time to clearly define your financial goals and needs. Are you looking for help with retirement planning, investment advice, or comprehensive financial planning? Understanding your specific requirements will help you find an advisor with the appropriate expertise and services.
  • When evaluating potential financial advisors, it's essential to check their credentials and experience. Look for advisors who hold recognized certifications, such as a Master’s of Financial Planning & Counseling, Chartered Financial Consultant (ChFC), or Certified Financial Planner (CFP). Additionally, consider their years of experience and whether they have worked with clients in similar circumstances to yours.
  • Financial advisors may charge fees or commissions in different ways, such as commissions on purchases and sales of securities, hourly rates, flat fees, or a percentage of your assets under management. Decide which fee or commission structure aligns with your preferences and financial situation. Ensure that you fully understand and are comfortable with the advisor's fee structure before engaging their services.
  • Ask friends, family, and colleagues for recommendations or referrals to financial advisors they trust. Personal recommendations can provide valuable insights and help you gauge the advisor's level of expertise and professionalism.
  • Don't hesitate to interview multiple advisors before making a decision. Prepare a list of questions that are important to you and your financial goals. Ask about their investment philosophy, approach to financial planning, and how they communicate with clients. This will give you a sense of their compatibility and whether they are the right fit for your needs.
  • Lastly, trust your instincts when selecting a financial advisor. A professional relationship with an advisor requires trust and open communication. If something doesn't feel right during the interview process, it may be a sign to keep searching for the right fit.

A fiduciary is a person who must keep your financial welfare in mind legally. Not every financial advisor has this duty. So, knowing how to spot one is crucial. Here are some helpful tips:

  • Just ask them. You could simply inquire if they’re a fiduciary and maintain that standard. They need to provide an honest answer and documentation if requested.
  • Look at their qualifications. Certain titles such as a Master of Financial Planning and Counseling, Chartered Financial Consultant (ChFC), Certified Financial Planner (CFP), or a registered investment advisor (RIA), make it a requirement to be a fiduciary for clients.
  • Examine their disclosure statements. All advisors registered with the SEC or a state authority offer a Form ADV. This paperwork reveals their offerings, charges, potential conflicts, and disciplinary records. It is available on the SEC website or via request.

There is no definitive answer to how much money you should have before getting a financial planner, as different types of planners may have different requirements and fees. However, some general guidelines are:

  • If you have no or very little savings, you could benefit from a financial planner who can help you create a budget, reduce your debt, and start saving for your goals. These planners may charge a flat fee, an hourly fee, or a monthly fee for their services. They may not require a minimum amount of assets to work with you.
  • If you have some savings, such as between $100,000 and $500,000, you could benefit from a financial planner who can help you invest your money wisely, plan for retirement, and optimize your taxes. These planners may charge a percentage of your assets, typically around 1% to 1.5%, to manage your money on an ongoing basis. For younger clients who are getting started, Advisors may have a lower minimum asset threshold, such as $50,000, or $100,000.
  • If you have a large amount of savings, such as $1 to $10 million, you could benefit from a financial planner who can offer you comprehensive wealth management, including estate planning, charitable giving, and risk management. These planners may charge a lower percentage of your assets to manage your money on an ongoing basis. They may have a higher minimum asset threshold, such as $500,000, $1 million, or more.

Yes, it's possible to hire an out-of-state financial advisor. Just note some key points. All investment advisors (IAs) and their representatives (IARs) must be registered with the local securities regulator or qualify for a registration exemption. If the advisor you have in mind lives out of state, they should be registered in your state. That's if they have over five clients there or meet other registration needs.

There can be a few downsides to hiring a financial advisor:

  • Like most things in life, hiring a financial advisor is not free. While there are fees associated with the services your advisor provides, if he or she is well qualified, what you pay in fees will be well worth the benefit and peace of mind you receive. Make sure to have a candid discussion about costs when entering a new advisor relationship.
  • It’s possible to get a below-average or unfit advisor. They might not have your best interest at heart, give misleading advice, or try to sell unnecessary items.
  • Your advisor may have ties to certain companies or products that could lead to conflicting interests. Perhaps they get rewards for suggesting specific investments. It is important to determine if your advisor is independent or if they sell proprietary products.
  • Some advisors concentrate only on stocks, bonds, and mutual funds. They might overlook other key parts of your financial plan like insurance, planning for your estate, and tax strategies.

While robo-advisors are gaining popularity, they are unlikely to replace human financial advisors. Here are some reasons why:

  • Robo-advisors struggle with complex personal finance scenarios. Human advisors give deeper, tailored advice. Human advisors look into areas like taxes, future planning, insurance, risk control, and client behavior. Plus, they handle change and market shifts better than robo-advisors.
  • Robo-advisors cannot give the emotional help that human advisors can. Human advisors can gain a client’s trust, understand their wants, and talk to them on a basic human level.
  • Robo-advisors may not be able to compete with the hybrid model that combines human and digital advice. Some financial firms are offering this option, which allows clients to access both the convenience and efficiency of advanced technology and the expertise and guidance of human advisors.