All recommendations are based upon a holistic financial planning approach. Financial planning is the process of keeping the big picture in mind as you make decisions on the day-to-day financial issues in life. The five basic areas to be analyzed:
Cash Flow & Risk Management — Where is your money going? What curve balls can life throw at you and what should you protect against?
Retirement/Accumulation Goals — Are you on track, or what track are you on? We believe in a conservative approach. What value comes from using overly optimistic assumptions? Isn’t it better to assume a more pessimistic outlook when it comes to the future?
Investment Allocation — Proper allocation is one of the tools we use to manage risk. Risk comes in many shapes: loss of principal, loss of earning power (inflation), and liquidity risk, just to name a few.
Taxation — Legacy does not prepare taxes. We focus on not only your tax bill this year, but your bills ten years from now, as well. The key is to not let the tax-tail wag the dog. You can get hooked into very elaborate tax-shelters that you would never make if it wasn’t for the tax benefits. If you wouldn’t make the investment without the tax benefit, question if they are worth it.
Estate Planning — Legacy is not a law firm and we do not prepare documents for clients. We do the planning and educational work required to get you ready to see your lawyer. Estate planning is quite simple in concept. What are your wishes with the least amount of fees and taxation?
Legacy Financial Group offers financial planning through a six-step process. This process gives our clients the flexibility to work toward their financial goals. The process includes the following steps:
Interview — Get to know each other and determine the necessary scope of our relationship.
Discover — Gain a complete understanding of the client’s goals, objectives, and current financial affairs.
Evaluate — Identify the strengths and weaknesses in the current financial data with respect to the achievement of the client’s stated goals.
Recommend — Develop and review a customized strategy tailored to the specified goals.
Implement — Carry out the strategy, using the assistance of a professional specialist as needed.
Monitor — Regularly review the plan to help ensure that our clients are on track toward their stated goals.