By Janice Lane Palko
A wedge of lemon with your iced tea. . . The bow on a wreath . . . It’s the small things that often make the biggest difference between something being ordinary and outstanding. That applies to financial advisory firms too. There are numerous firms out there, but Legend Financial Advisors, Inc.® (Legend), pays attention to the small things and that makes all the difference.
The Legend Difference
From its inception in 1993, Lou Stanasolovich, Legend’s founder who passed away in 2022, established Legend Financial Advisors, Inc.®, with the idea that the firm would provide a difference that would distinguish it from all the others. His pioneering mission was to be a leading “Fee-Only” Fiduciary financial advisory firm whom clients can trust.
“Fee-Only” means that Legend’s advisors receive compensation solely from the fees clients pay for their services, while some other advisory firms, brokerage firms, and product-oriented firms at the time sold investments and insurance products for commissions to make up the majority of their compensation. Today, “product sales” types of advisors still exist. Legend and its advisors are governed by the Fiduciary standard of law, which means that they must always work with their clients’ best interests in mind.
This Fee-Only, Fiduciary model went against the paradigm of the financial advisory-industry at the time. And they’ve done that for thirty years.
The Teamwork Difference
Legend officially opened its doors on January 10, 1994, with four employees and has grown to a team of employees servicing clients nationwide.
“Teamwork is another important aspect about how Legend works with its clients,” said Jim Holtzman, CFP®, CPA (inactive), CEO and President of Legend. “Our staff works as a team, collaborating on the best possible ways to service our clients. We discuss various potential financial planning options for clients, and we have an Investment Committee working together to analyze client portfolios for any necessary adjustments. Furthermore, if someone on the team is not available when a client calls, we don’t have to make the client wait to have their needs addressed.”
Celine Stanasolovich, Director of Human Resources and Accounting, has been with the firm from the beginning. “Our first five years, we were located on Braunlich Drive, in Ross Twp. but the last 25 years, we have been at Corporate Drive, McCandless Twp,” said Ms. Stanasolovich. “However, one thing that has not changed is our continuing commitment to the training and professional development of our staff.”
Legend has a commitment to internships to support their team. Approximately 75% of their staff began as interns.
Services and Client Overview
Legend’s clientele consists of individuals and families, business entities, medical practices, and company retirement plans. Typical clients include individuals in or near retirement, medical doctors and dental professionals, business owners, tech professionals, corporate executives, college professors, and sudden wealth recipients.
Most people know that they need a physician to remain healthy, but many people don’t realize until it’s too late that they need a financial professional to remain or attain a healthy financial outlook. In fact, Legend offers individuals a one-time “Free Second Opinion” of their investments to analyze their existing portfolio structure, comfort with risk, tax-efficiency, and more.
“We encourage people to consult with us as early in their adult life as possible, especially when you are establishing a family because the sooner you start planning for the future the better it will be in the long run,” said Chris Kail, Chief Marketing Officer. “During our initial conversation, they will be invited to tell us about themselves, what they would like to accomplish, and what types of services they desire. After listening to their concerns, we will then describe our approach to helping clients, the services we provide, and create a game plan on how we can specifically assist them.”
“Today, we are seeing many people caught in the ‘sandwich generation,’ parents with children concerned about how to afford sending them to college, while at the same time are also caring for elderly parents. Also, our focus on longevity planning assists retired clients with strategies to help them avoid running out of money as they age. We can help to navigate these challenges as well as a host of other situations clients may face,” said Mr. Kail.
Legend can also manage, rebalance, and make securities trades on a client’s behalf for managing their managing Employer-Sponsored Retirement Plans (401(k), 403(b) Plans, etc.) This takes the burden off the client to analyze their investment options and make the changes themselves.
With today’s technology, planning for their clients’ future or managing their affairs is easier than ever. Legend provides clients with the capability to upload, share and store files, eliminating the hassle of copying or saving physical documents, etc. Furthermore, Legend’s investment in cutting-edge software allows clients to link and view all their various accounts all in one place.
“Legend’s goal is to improve and simplify the lives of their clients, and we have been able to achieve that by delivering hands-on service and incorporating cutting-edge technology,” said Mr. Kail.
Although Legend has that “personal touch,” with many local clients, it does have clients across the nation as well.
Client Feedback and Education
In many instances, Legend’s Advisory Team will work with prospective clients whether it’s multiple meetings, calls or webcasts to listen and better understand a prospective client’s needs and goals, and how Legend can assist them.
“We encourage clients to contact us with any questions to help them make the best decisions to meet their financial goals.” said Mr. Holtzman. Furthermore, Legend offers educational webcasts to clients about timely financial planning and investment topics. Clients can ask questions during any Webcast presentation.
“We have always strived in all that we do, to keep the client’s best interest in mind and build valuable, long-lasting relationships. We are now working with a number of adult children of clients who began with us years ago,” said Mr. Holtzman.
How to Contact Legend Financial Advisors, Inc.®?
For more information on how Legend Financial Advisors, Inc.® and their something “different” can make a significant difference in helping you to achieve your financial goals, you can call them at (412) 635-9210, visit their website at: legend-financial.com or e-mail them at: legend@legend-financial.com.