An Introduction to Our Process

An Introduction to Our Process

At Legacy Planning Partners, we believe that comprehensive financial planning should lay the foundation for many of the financial decisions we make in life. That is why we are diligent about our planning process. We seek to gain a complete understanding of your financial picture by gathering and analyzing all of your pertinent financial data.

  • Stage 1: Discovery Stage

    Stage 1: Discovery Stage

    Legacy’s planning process is goal focused. During this stage, you and your advisor will establish a clear set of short and long-term financial goals based upon the values and beliefs that are most important to you and your family. Our ability to listen and understand each client’s unique story and situation differentiates us from our competition. In addition, your advisor will collect your financial information with regards to cash flow, assets and liabilities, income taxes and risk tolerance.

  • Stage 2: Assessment Stage

    Stage 2: Assessment Stage

    During the Assessment Stage, you and your advisor will review your financial goals and financial statements. These are the basis of further planning and recommendations. We will ask clarifying questions to fully understand your objectives in life and your priorities. There are no “assembly line” plans here! Our mission is to provide personalized financial planning that will make a significant difference in your life.

  • Stage 3: Educational Stage

    Stage 3: Educational Stage

    One of our key tenants is “empowerment through education”. Our goal is educate you on the steps you need to take to achieve your objectives and give you a clear understanding of why we have made these recommendations. This is why we will thoroughly explain the relevant details and background regarding all planning decisions and assumptions. We will also cover relevant economic and financial factors (i.e. Demographic Trends, Inflation, Tax Rates, etc) that have affected our recommendations. In most instances, we will share with you advanced financial planning concepts such as taxation and real investment rates of return, estate planning, retirement distribution planning, etc.

  • Stage 4: Implementation Stage

    Stage 4: Implementation Stage

    Once we understand where you are now and your goals for the future, we will present you with an action plan consisting of a customized, formal written plan with implementation strategies based upon your time horizons, income sources, tax situation and many other factors. In coordination with your attorney, accountant and other advisors, we can implement your plan; updated or new legal documents are drafted and signed; required tax filings are completed; and appropriate financial products and investment strategies are put in place. These plans are designed to be flexible enough to adapt to changes, but disciplined enough to hold fast even in uncertain times.

  • Stage 5: Re-Assessment Stage

    Stage 5: Re-Assessment Stage

    Planning is a process, not an event. Since financial planning frequently fails due to lack of follow through, we will be re-assessing your plan on a consistent basis to evaluate our progress and make any necessary adjustments.

Separate from the financial plan and our roles as your financial planner, we may recommend the purchase of specific investment or insurance products or accounts. These product recommendations are not part of the financial planning process and you are under no obligation to implement them. Financial Advisors do not provide specific tax/legal advice. This information should not be considered as specific tax or legal advice. You should consult your tax or legal advisor regarding you own specific tax or legal situation