How do I achieve Wealth. Wisdom. Well-Being?
When your financial plan aligns with your life goals. When your investments are managed with the same sophistication as those of major institutions.
What we value most at Legacy Wealth Alliance is our clients. Our reputation has been built on establishing genuine relationships with our clients. We attribute this to the professionalism of our staff, the quality of our financial services and the mutual respect between our firm and the clients we serve.
We provide highly personalized attention based on the in-depth, detailed understanding of your unique financial situation. Through our registration through Royal Alliance Associates, we work closely with you to evaluate that long-term goals are aligned with your personal risk tolerance, investment timeline and most valued goals.
Why should I consider using a financial advisor?
As much as each individual is unique, the same is true for each individual’s situation. You may be starting your first job and want to start saving money to purchase a home or to start saving for retirement or perhaps you may want to save for your child’s education, second home or your retirement. Everyone has a different goal based on where they are in life. A financial advisor will help you make smart decisions and help evaluate your options.
Once you make the decision to invest, you need to consider the financial markets. They can go up and down just like a rollercoaster. A financial advisor will be there to help guide you through the ups and downs of the market and give you the emotionally support you need to help make the best decisions based on your needs.
A financial advisor will help you prioritize your savings based on your income and expenses so that you can reach your goals.
How do I know if I have enough money to retire?
A financial advisor can assist you in making sure you have enough money to last throughout your retirement by developing a strategic plan. Having a strategic plan will allow you to consider your current income and taxes today and what your income and taxes will be in retirement.
What is a time horizon?
Time horizon refers to the amount of time a person has to achieve for a goal or event. Time horizon in investing is used as a factor in determining how much money to set aside to reach a goal.
What is risk tolerance?
Once the time horizon is determined, the next question would be related to risk tolerance. How much risk should an investor take in an investment to achieve a goal? Determining one’s risk is based on things like age, time horizon and the amount of disposable income.
What is Risk in Investing?
Risk in investing is measured by standard deviation equation, which is a statistical measurement tool. Standard deviation measures how volatile an investment is compared to its average price.
What is the difference between asset allocation and diversification?
Asset allocation is the way in which assets are distributed with your portfolio to align with your goals and objectives.
Diversification reflects the different asset allocations in your portfolio or not having all your eggs in one basket. Considering an investors goal, time horizon and risk tolerance a financial planner will help you develop a plan to be able to best diversify in different type of funds or securities in order to reduce risk to achieve your goals. Each plan is custom for each investor as every investor has different goals, risk tolerance and time horizon for investing.
What is involved in financial planning?
Financial planning looks at the overall picture for each individual. A financial planner will often ask a prospective client to complete a questionnaire in order to understand each individuals’ financial needs and goals. Once the financial planner has the over picture, they do some analysis and design a plan for an individual to help the individual achieve the goals.
How often should I see my financial planner?
It is recommended meet with your financial planner on an annual basis to review your holdings and determine if any changes need to be made. This can be accomplished in person, video meeting or by telephone call.
If is important to notify and discuss life changing events, such new marriage, birth of a child, job change, divorce, death with your financial planner to determine if any adjustments need to be made to your plan.