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WEALTH ADVISORY SERVICES
 FOR INDIVIDUALS AND FAMILIES
 

Legend Financial Advisors, Inc.® (Legend) with its headquarters located in Pittsburgh, Pennsylvania, provides specially designed Wealth Advisory Services for affluent and wealthy individuals and their families.  These services include the following:

  • Investment Management
  • Personal Financial Planning
  • Retirement Accumulation and Distribution Planning
  • Family Estate Planning, Trust Services, and Philanthropic Planning
  • Diversification Strategies for High-Equity Concentrations
  • Stock Option Exercise Planning

Affluent and Wealthy individuals and their families face highly complex wealth advisory needs.  Through Legend's experience and vast network of financial and legal professionals, we provide value-added guidance and solutions to these various complex financial issues.

   
TABLE OF CONTENTS
  1. WHAT WE DO
  2. INVESTMENT MANAGEMENT
  3. PERSONAL FINANCIAL PLANNING
  4. DIVERSIFICATION STRATEGIES FOR HIGH-EQUITY CONCENTRATIONS
  5. STOCK OPTION EXERCISE PLANNING
  6. RETIREMENT ACCUMULATION AND DISTRIBUTION PLANNING SERVICES
 

WHAT WE DO

 

Legend provides Personalized Wealth Advisory Services including Investment Management, Personal Financial Planning, as well as Stock Option Exercise Planning, on a No Commission, Fee-Only basis.  The firm’s objective is to deliver personalized and innovative financial advice that is unequaled in terms of quality, from which the client can derive maximum value.

Legend expects to achieve its objective by providing all firm members with extensive, ongoing internal and external education by utilizing leading edge financial information, management, technology, hardware and software, while capitalizing on our extensive national and local networks of other financial professionals and by creating new services not offered by our competitors that are of value to the client.

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INVESTMENT MANAGEMENT 

 
Legend offers personalized Investment Management Services to individuals and institutions.  Investment portfolios are developed to match the client’s return and risk requirements, which are determined by the clients’ completion of a Risk Comfort Zone Questionnaire, with the guidance of a Legend advisor.  Each type of investment portfolio is managed to achieve both the short and long-term investment objectives of the client.
 
 
INVESTMENT PROCESS
 

Investment Portfolios:

For a description of our investment portfolios, please see our Risk Spectrum chart.

Investment Research:
 
Legend performs extensive research as to how to structure investment portfolios.  Emphasis is placed on developing portfolios that have historically achieved high returns, but with lower-than-normal risk.
 
Sources of Current and Historic Worldwide Financial Market and Economic Data include:
  • Investment newsletters, newspapers, periodicals, research publications, and professional journals
  • Portfolio Managers (Legend interviews in excess of 75 portfolio managers per year)
 
Client Education:
 
Education is very important to us.  Legend is dedicated to educating each client about the different investment portfolio types and how they relate to market volatility, time horizons, and investment returns.  It is our goal to ensure that the client understands and agrees with our investment philosophy.  Furthermore, we assist each client in selecting a risk comfort zone with which they are comfortable.  Ultimately, an investment portfolio is designed to meet the client’s objectives.
 
PERFORMANCE REPORTS
 
Investment Management clients receive quarterly performance reports.  The report details the portfolio performance during the client’s fiscal quarter and provides a comparison against a number of indices.  While providing detailed information, these performance reports are easy to read and understand.

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 PERSONAL FINANCIAL PLANNING

 

INITIAL DEVELOPMENT:

 

 

After a client completes an extensive data questionnaire and delivers all relevant financial documents, Legend will develop a personal financial plan and business financial plan.  It will address the following areas:

  • Preparation of financial statements including federal and state income tax projections
  • We can coordinate any tax information with the client's accountant
  • Basic finance issues, such as debt structure, liquidity and cash flow issues
  • Development of Investment Strategies including hedging and tax-sensitive strategies
  • Income tax strategy optimization, including providing alternative financial and legal structures
  • Education funding
  • Retirement planning as well as accumulation and distribution strategization
  • Estate tax reduction analysis and philanthropic decision-making
  • Trust Services through one of our independent trust company strategic alliances, if applicable
  • Survivor needs analysis
  • Risk Management/Asset Protection, including analysis of all insurance coverages
  • Stock option exercise strategies, if applicable
  • Retirement plan compliance, if applicable
  • Business planning, if applicable
 

RECOMMENDATIONS:


As part of the financial planning process, Legend develops specific recommendations addressing each of the above-listed areas.  During this first part of the process, the client will meet with a Legend advisor approximately four to seven times, typically within the first six-month period of the client relationship.  Each meeting will vary between two and four hours, depending upon the complexity of the client’s situation. 

 
  • Arranging loans, including mortgages and personal loans with private banking departments of banks and, when necessary, introducing a client with commercial loan needs to an appropriate banking officer
  • Providing a banker with appropriate financial information to arrange or renew a loan for the client.
  • Sending financial information to attorneys so they can prepare the necessary estate documents, including wills, trusts, powers of attorney, health care proxy, and living wills
  • Sending tax information to accountants, such as bonus payments and gain and loss information on the sale of securities, etc. in order to prepare the tax return and make appropriate estimated tax payments
  • Requesting information on the policy status of life insurance and annuity policies on behalf of the client (This information would include such items as death benefits, cash values, surrender charges, beneficiaries, tax basis, investment return, etc.)
  • Calculating the tax basis of securities on behalf of clients
  • Requesting insurance quotes on behalf of clients

Our objective is not necessarily to reduce the complexity of the client’s financial situation, because sometimes it does make sense to utilize trusts and other strategies to reduce taxes and achieve family friendly objectives.  Rather, our goal is to save our clients the time and the energy that it takes to manage his/her complex situation, so that they are free to focus more closely on matters that mean the most to them.  In the same way that a successful business needs a chief financial officer, we believe every wealthy family needs one, too.  Legend can manage the mundane particulars of your finances, from bill payment to imaging and storing receipts.  We will deal with your vendors, contractors, or other service professionals, so you can enjoy the fruits of your labors.  We take the "office" out of your family and put it into ours. 

 

ONGOING SERVICE:

 

During the first twelve months of service, as well as all ensuing years that Legend is retained, the client is entitled to unlimited phone calls, meetings, service, and advice.
 
To view additional information on the Personal Financial Planning Services Legend provides, please see our Summary of Personal Financial Planning Services.
 

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DIVERSIFICATION STRATEGIES FOR HIGH EQUITY CONCENTRATIONS

 

This service is designed to assist clients who have a large percentage of their net worth in one stock.  While the simple solution is to sell the stock and pay the taxes owed, it may not be the most optimal one.  There are a number of alternatives that can be utilized to maximize value.  However, since many of the strategies are long-term in nature, finding the one most comfortable for the client entails a significant amount of planning around the overall financial goals of the client.  Legend will review with each client a myriad of strategies including; gifting to family members, charitable-giving strategies, hedging through the use of puts and calls, also known as equity collars, tax loss harvesting or the transfer of a highly appreciated security into a diversified private equity pool of securities, also known as an exchange fund.

 

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STOCK OPTION EXERCISE PLANNING

 

Legend's Personal Financial Planning services are geared to assist clients with stock options in publicly-traded companies or those in the pre-IPO stage.  Stock options come in two varieties – Non-qualified and Qualified.  Qualified stock options are more commonly know as Incentive Stock Options or ISOs.  The rules differ dramatically for both.

We will discuss the rules for the type of stock options clients have and the types of strategies that can be used to maximize their value to those that hold them.

 

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RETIREMENT ACCUMULATION AND DISTRIBUTION PLANNING SERVICES

 

Many of our clients are interested in receiving guidance regarding retirement planning services.  They especially want to know how much they need to accumulate, when they can retire, how to spend down their assets in the most tax-efficient manner and finally to distribute their assets to their heirs upon their death.  Legend's retirement accumulation and distribution planning services address all these areas and more.

Legend assists each client during this stage of their life in a number of ways including:

 
  • Counseling each client with regard to how to invest and accumulate monies for retirement during their employment years
  • Performing extensive retirement calculations both before and during retirement to determine if the clients’ assets will be adequate to live on
  • Advising each client as to what assets to spend down
  • Guiding each client through the complex regulatory environment as how to distribute these assets from IRA’s and other retirement plans in the most tax-efficient manner
  • And finally, facilitating the planning and transfer of the assets to the client’s heirs.
 

Legend also counsels each client in other retirement matters such as long-term care insurance, residential needs, estate planning issues including documents such as a will, a power of attorney, a health care power of attorney, a living will, and a testamentary letter.

This service is part of the personal financial planning service.




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