Broker Check

Our Process

NextStage Legacy Advisors is a representative of nationally renowned financial services firm, Lincoln Financial Advisors. Lincoln Financial Advisors supports NextStage Legacy Advisors by allowing them access to a multitude of financial planning tools and resources, from retirement planning to insurance and investment products.  NextStage Legacy’s dedicated team of estate and succession planning specialists construct each financial plan using Lincoln Financial Advisors’ 6-Step Financial Planning Process, which has received national recognition from the Financial Planning Association (FPA).  Through this proven approach, NextStage Legacy helps farm and small business owners develop comprehensive succession and exit planning strategies with the intent to minimize risk, estate taxes and ultimately preserve and protect the legacy of those hard-working individuals.

Engage: Family Meeting 

The relationship between the client and financial planner is largely built on trust and understanding.  We begin by discussing your current financial situation and common objectives.  We establish a fee, agree on a timeline and start defining your goals.  Succession conversations with family members can often become emotional or get off topic.  An independent facilitator can help ensure the conversation stays on track without being derailed by personal issues.


Discovery: Data & Goal Setting

We delve deeper into your finances.  After meeting with each family unit, we audit your current estate, investment and business financial situation.  We use that information alongside other necessary financial data to develop a comprehensive financial condition model of your current situation, to include cash flow, taxes and assets.  Once we have a clearer picture of your current financial situation, we can help you further define your goals and objectives.


Preliminary: Evaluate Current Plan

After carefully analyzing your financial condition model relative to your goals and objectives we determine where what you have in place is inconsistent with those goals and objectives.  We call those inconsistencies “coordination gaps” and “financial planning opportunities”.  This stage shows us the extent to which you are currently meeting your financial goals. We can begin refining our recommendations to develop a preliminary financial plan.


Final Plan: Discuss Financial Plan & Alternatives

Based on your input and our analysis, we discuss alternative strategies and identify advantageous solutions that are consistent with your objectives.  We address any of your questions or concerns before finalizing and moving forward.

This completes the Planning Phase.  We now enter the Implementation Phase of our Engagement.


Implementation: Action Plan

Implementation requires close collaboration between the entire team – you and your family, NextStage Legacy Advisors, and any additional long-term advisors (i.e., Your Attorney, CPA, etc.).  We collectively review your final financial plan and discuss the most efficient way to implement it.  We offer specific recommendations to fit your needs, and discuss the advantages and disadvantages of each recommendation.


Annual Reviews: Review & Refine Progress  

It is important to keep your financial plan current, many factors can affect the viability of your financial plan such as a life event, unexpected expenses or income, or a change in taxation and estate laws.  Annual reviews allow us to compare actual results to initial assumptions and determine if modifications are necessary.