What we do
Legacy works alongside individuals and families to grow and protect their wealth, in all stages of their lives. From the young professional or entrepreneur looking to plan for the future to the retired individual looking to preserve what they’ve built and secure stable sources of retirement income, Legacy stands alongside the client to help them make prudent financial decisions.
Our deep skill set allows us to assist clients in every aspect of their financial lives, including:
Retirement Planning – capital needs analysis and savings strategies.
Education Planning – preparing for funding children’s eduction.
Business Consulting – entity selection, tax reductions strategies, cash flow analysis, retirement plan design, executive compensation design, business owner diversification strategies.
Business Succession Planning – buy/sell agreement design and funding, business valuation estimates, business sale design and transition planning.
Estate Planning – wealth transfer and gifting strategies, charitable giving or philanthropic planning, estate tax planning.
Insurance & Risk Management – insurance needs analysis, cost/benefit analysis of existing policies, long-term care preparation.
Investment Management – Investment portfolio design and management, portfolio cash flow planning. See Investment Management section for more detail.
Some situations will require working with additional professionals, such as attorneys to write and advise on corporate or estate documents and accountants to assist with details of tax planning. Legacy will work with professionals with whom you have an existing relationship or, if you do not have an existing relationship, refer you to other professionals.
The investment portfolio planning process begins with developing your wealth management plan. Through that process we discover information crucial to the managing of your investments: your personal risk tolerance, your time horizon, and your specific financial goals. With that understanding we can build a customized portfolio designed around your needs.
Investment portfolios are designed and managed by Legacy. As with other areas of our practice, our philosophy of investment management continues in the same vein established by our founder and mentor. We focus on the few immutable principals of managing investments:
Avoid permanent losses of capital
Maintain a long-term focus
Diversity through ownership non-correlated assets
Make value based decisions
We hold rigorously to these principles and avoid the many investment fads that are generally more useful for marketing than for long term performance.
Portfolios will include both active and passive strategies and a variety of vehicles including exchange traded funds (ETF’s), mutual funds, closed end funds, treasuries, and, in some cases, individual stocks or bonds. Each of these strategies and vehicles have differing characteristics that lend strength to accomplishing specific goals in the portfolios. Clients receive a quarterly reporting of portfolio performance along with a Market Commentary where we share our thoughts on developments in financial markets and the economy.
Past performance is not a guarantee of future earnings. Asset allocation does not assure a profit or protect against loss in a declining market.
Our Onboarding Process
Our onboarding process is designed to help you determine whether Legacy is a good fit and provide you with a clear understanding of the work we will perform prior to entering into any official engagement. Please understand this is only an outline. Each situation is different and your path to developing a relationship with our firm may not follow these exact steps.
Step 1: Discovery Meeting
This is an initial consultation, with no obligation to engage our services. The purpose of the meeting is for us to learn about one another and for us to gather information about you.
During this meeting, we will ask you questions to help us understand your current financial situation, what is important to you, what your financial priorities and goals are, your risk investment risk tolerance, and how you define financial security and success.
After the meeting, you will be provided with a short list of additional documents and requested information needed for our professionals to formulate a Value Proposition Letter.
Step 2: Creation and Review of the Value Proposition Letter
After the Discovery Meeting, and once the additional information requested is provided, our advisors will generate a Value Proposition Letter. The purpose of this letter is to outline our understanding of your current financial situation and goals, and to provide you with a sense of the work we will provide if engaged.
This is more than a simple engagement letter. During the creation of the Value Proposition Letter, much of the work to develop your financial plan is completed. We will perform analysis on the information provided to determine the feasibility of your goals, identify strategies to help you attain your goals and look for potential risks. We will outline results we believe are achievable based on our understanding about your family situation, assets and goals.
Step 3: Engagement and Comprehensive Wealth Management Plan Creation
After you have reviewed the Value Proposition Letter, we will answer any questions you have. If you wish to proceed with the planning process, we will meet or talk briefly to discuss whether the Letter accurately describes your situation, addresses your immediate concerns, and correctly outlines your goals.
From there, we will create your Financial Plan. This will include actionable items to implement recommendations, which our advisors and staff will assist you in completing. This is critical as an unimplemented plan is only slightly better than no plan at all.
We meet with our clients at least once per year. At clients’ request, regular meetings can be scheduled semi-annually or quarterly. Our staff and advisors are always available via e-mail or phone.
Life changes, goals change, and actual results will vary from assumptions made in the financial plan. At review meetings, we will catch up on life, talk through any changes and/or concerns you have, review investment performance and allocations, and update planning projections.
Get in touch with the Legacy Group
10561 Barkley St, Suite 610
Overland Park, KS 66212