Legacy Financial LLC: A unique approach to financial planning

Posted January 18, 2018 at 7:19 pm

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Evidence-based or factor-investing is what a local financial practice offers its clients.

“The bulk of the business we do is not necessarily here in town — we work with clients all over the country,” said Chad Ericson, owner of Legacy Financial LLC, located at 321 Reed St.

However, the millions of dollars we manage for those clients we take an approach that is driven by academic research, he said.

“When we’re making investment decisions for our clients, we’re not listening to what opinion makers on TV are saying,” said Ericson. “We’re not chasing fads. We’re looking at the data, and we’re letting the data and evidence drive what we do for our clients’ investments.”

“Evidence-based investing or factor-investing — it’s known by both names but it’s the same philosophy,” he explained.”That’s what we’re driving our investment decisions with today.”

“What drove the decision of doing things differently was that I’d been through, as a professional, two of the worst bear markets of all time,” said Ericson. “I looked at my practice and said there has to be something different we can do for our clients to protect them from these terrible downturns in the stock market.”

Ericson started researching options — not relying on how the mutual fund industry and large investment companies were telling advisors to do.

“I started following the academic research to guide decision-making in regards to how we were making investments for our clients,” said Ericson,

Legacy Financial has a three pillar philosophy:

• Evidence-Based Investments: Using academic research data as the growing wealth strategy;

• Financial Planning and Estate Planning with a multi-generational approach working with clients’ attorneys and CPAs to meet their clients’ estate, tax and financial planning; and

• Behavioral Economics: Using behavioral economics to help clients understand why they feel one way or another about their investments and about their relationships with family members when it comes to estate planning.

“I really feel we are doing very meaningful work to help clients understand on a fundamental level why their investments and estate plans work the way they do and how these things all fit together into a more wholistic approach,” said Ericson.

“Working with clients in northwest Iowa and southwest Minnesota, we bring the same type of approach as other ‘family office’ firms who are working with the uber-wealthy,” said Ericson. “We help our clients understand this is what these individuals who are very, very successful financially are doing with their money.”

Legacy Financial’s Akron office is open 8 a.m. to 5 p.m. weekdays. Stop by or call 712-568-3873 for an appointment.

Securities offered through United Planners Financial Services of America, L.P., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, RDA Financial Network, Inc., a Registered Investment Advisor. United Planners, RDA Financial Network, Heritage Bank, NA and Legacy Financial, LLC are not affiliated. Investments are not FDIC insured, not a deposit, not bank guaranteed and may lose value.

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