Legacy Integrated started because we saw a problem.
Nearly every small-to-medium sized business owner spends all of their time and energy running their business day-to-day. Most business owners are in place because they are incredibly skilled at delivering their product or service, and not because they intimately understand all of the financial nuances involved.
Typically, if this is your situation, you have hired a team of CPAs, financial advisors, bookkeepers, attorneys, insurance professionals, and other outside advisors to advise on complicated financial matters.
Unfortunately, this can cause a litany of problems:
1. Commonly, the advisors hired are not on the same page regarding financial goals or limitations. Often, the business owner’s CPA is running a practice that is independent of the practice run by the business owner’s attorney— same for the financial advisor and bookkeeper. These professionals are so busy running their practices that they are unable to collaborate about the business owner’s situation.
Legacy Integrated changes that. By bringing all of these professionals under one roof, our clients have a team of unified professionals working together to review our client’s situation from an all-encompassing vantage point.
2. The business owner, who is already intensely involved in other business aspects, has to spend a great deal of time and energy having the same conversation with each advisor, often receiving conflicting opinions. This stems from the problem mentioned above, but Legacy Integrated has changed this, too.
Now, instead of having the same conversation six different times and getting six separate opinions, the business owner speaks with one client relationship manager, who takes the notes from the conversation to the entire team of professionals. Everyone weighs in to discuss the situation and strategize a plan. The business owner doesn’t have to spend hours and hours outside of the office, hunting down these professionals, getting opinions, and trying to piece together the right strategies for their goals. They just pass along the information, let us sort out the details, and then decide based on the executive level information they are presented. Efficiency at its finest, the way business should be conducted.
3. You don’t know what you don’t know.
Most business owners are industry leaders and the epitome of knowledge on their product or service and how to deliver their clientele in the best possible way. Most business owners DON’T know every line of the tax code, what factors go into how much insurance they need, all of the different employee benefits they can provide, or many other intricacies of financial planning for their business. Too often, the advisors they hire don’t know many of these things either.
Legacy Integrated has changed that. While we can’t say we know EVERYTHING about the ever-changing tax code, our team, and our partners have great expertise in all of these areas. We work hard to find a solution that feels perfectly tailored for the client to solve their problems.
4. Often, a business owner’s advisors just stay in their lane. While this is usually a good practice for running your business, the business owner needs someone who is not only looking out for the success of the company but also looking out for their success as the owner of the business.
This is the core of what Legacy Integrated seeks to provide. You want to make a decision that will ultimately help you out, and sometimes, that means showing a loss on the business, sometimes it means showing a loss personally. Having a team that understands how to balance these decisions is vital.