FAQ

1. 
2. 
3. 
4. 
5. 
6. 
7. 
8. 
9. 
10. 
How do I get started with Legacy Planning & Associates (LPA)?
Who does LPA use as the custodian of client accounts?
Does LPA receive any form of compensation from its custodians?
Does anyone at LPA have access to my money?
What reports will I receive?
Will I have internet access to my account(s)?
How often does LPA Rebalance my Portfolio?
How does LPA minimize the impact of taxes?
How am I involved in portfolio decisions?
What are some financial books to get me started?

 

1. How do I get started with Legacy Planning & Associates (LPA)?

We begin our client relationship with a discovery process to get to know you, understand your values, and listen to your priorities.  This information helps us exchange ideas and look at how we can effectively and efficiently help you reach your goals.

At the end of this process, both parties should have a reasonable expectation and shared confidences to work together.

Back to top

 

2. Who does Legacy Planning & Associates use as the custodian of client accounts?

We use a spectrum of companies: Pershing, TD Ameritrade, and Fidelity.  Our exploratory relationship with SEI is aimed at first looking to fulfill the needs of our clients.  Each custodian offers certain strengths.  We look for the best fit and value for our clients.

Back to top

 

3. Does LPA receive any form of compensation from its custodians?

No.  Our source of income is fee base that comes from managing your portfolio.

Back to top

 

4. Does anyone at Legacy Planning & Associates have access to my money?

No.  You will fill out a limited power of attorney form, which authorizes us to exercise trades and implement strategies that are consistent with your investment policy.

Back to top

 

5. What reports will I receive?

A reporting mechanism for out clients is established from the start.  We provide 24/7 online, on-demand access to your portfolio.  A core component to our value proposition is transparency.

We generate reports on a monthly, quarterly, or annual basis to meet your requests.  Our summaries highlight the state of your account for the period of reporting.  This includes what assets you own at the time, what gains/losses were achieved on your account, and what your current position is.

Back to top

 

6. Will I have internet access to my account(s)?

Yes.  We have a secure, state-of-the-art, information and data platform that enables you to structure the level of collaboration you want with us.  You can delegate your investments to us or control as much as you want.

Our information platform is non-transactional.  We use eMoney Advisor to aggregate all of your financial assets into one location.  Your investments, assets, liabilities, and debts are updated each night so you know what your account balance is on a day-to-day basis.  Our software grants you the ability to monitor your assets, set market alerts, and project your growth into the future.

Back to top

 

7. How often does Legacy Planning & Associates Rebalance my Portfolio?

A rebalancing plan is defined by our clients.  We can meet every quarter, semiannually or annually.  We also rebalance your portfolio when large events occur.

Back to top

 

8. How does Legacy Planning & Associates minimize the impact of taxes?

We take a three part approach when looking at the impact that taxes have on your investments.  First, we take into consideration the allocation of assets to various asset classes and targets.  Second, we look at what assets are best suited for a taxed deferred portfolio when there is no current taxation.  Third, we look at ways to harvest a loss to minimize the impact that taxes have on capital gains.

Back to top

 

9. How am I involved in portfolio decisions?

You help us to develop a clear picture as to what your assets, goal, and values are, we look at how best to achieve them.  You help us understand what your risk tolerances and exposure to losses are.  Then we look for the best financial instrument that can give you the best rate of return on the risks you’re taking.

Back to top

 

10. What are some financial books to get me started?

  • Asset Rotation, by Matthew P. Erickson
  • How Much is Enough, by Arthur Simon
  • Investing Secrets of the Masters, by Charles E. Babin & William J. Donovan
  • Provide & Protect, by Charles Schultz
  • The Soul of Capitalism, by William Greider
  • The Investor’s Anthology, by Charles D. Ellis
  • The Davis Discipline, by John Rothchild
  • The Davis Dynasty, by John Rothchild
  • The Power of Leveraging the Charitable Remainder Trust, by Daniel G. Nigito
  • The Seven Stages of Money Maturity, by George Kinder
  • Wealth in Families, by Charles W. Collier
  • Wizards of Wall Street, by Kirk Kazanjian

Back to top