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Where Family Businesses Come to Learn & Grow.
What’s on our mind? You can read about it in our blog. Whether it’s ideas from the industry or emerging trends, or topics to help you get your personal financial lifestyle on track, you can read about it here. We're glad to have you reading along.
FWL Market Update: 2nd Quarter 2021
It's been a strange and odd-feeling 2nd quarter. With vaccine levels rising and then capping out, hopes of a return-to-normal seemed to cap out as well. During this quarterly commentary, we talk about GDP impacts with personal finances...
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What 401K Plan Sponsors Need To Know About
One of the most recent changes in 401(k) plans now requires that certain plan provisions need to be included in your plan document. The existing IRS timeline requires a PPA restatement, which is where plan documents are to be restated...
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The Taxman is Eyeing the Wealthy
As the country moves forward from the effects of the Coronavirus and the 2020 elections, it is time to consider potential key tax law changes that may affect you in 2021 and beyond. Given the 2020 election results and the Tax Cuts and...
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Market Update: May 2021
We finished the first quarter of 2021 pretty much flat but as we moved into March and April things have heated up. Tune in for our latest market update to hear what the Family Wealth and Legacy team is watching in the markets right now.
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Four 401K Liability Questions & the Answers You Need to Know
Owner or Administrator of a 401(K) Plan? Register for our FREE ONLINE TRAINING HERE. ------------ As I speak with business owners and plan sponsors about 401K plans, I have noticed that for many the term Fiduciary is the most...
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These 10 Critical Mistakes Could Cost Your 401K Plan Dearly
The unprecedented and unpredictable events, like we experienced in 2020, underscore the need for a strong process to manage your 401k. Why should you pay closer attention to the four main documents that embody the 401k plan? Because it...
Read MoreFWL Market Update: 1st Quarter 2021
As we embark on our first post-pandemic year, more has changed than stayed the same. A new President-elect moves a focus from the economy, to a new focus on climate change, racial & L.G.B.T. equality, and government accountability. So...
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What's Your 2020 Hindsight?
So the saying goes, “hindsight is 20/20” and now we can finally say just that. With “the year 2020” in our rear view mirror, there’s a lot to look back on. In January 2020, business teams around the world...
Read MoreFWL Market Update: 4th Quarter 2020
The past few weeks have brought us increased volatility in the market, and our lives. We’re less than a week away from the 2020 U.S. Presidential Election, and the question of “what’s going to happen to my...
Read MoreSolutions to Hiring a Financial Planner
If you Google “How to Hire a Financial Advisor,” you’ll find thousands of articles, tons of advice and a plethora of opinions. The main theme of all of the articles seems to guide consumers to hire a CFP and they...
Read MoreMastering Difficult Conversations: Employee 401k Withdrawals
Mastering Difficult Conversations: Employee 401k Withdrawals When stuck in a sticky financial situation, an employee may need to rely on their retirement savings to help them get by. Depending on the rules of your company’s plan,...
Read MoreUnderstanding Financial Professional Designations and Titles
Today almost anyone may call themselves a financial planner. It can be a generic term and it doesn’t require extensive training or experience. Most articles, professionals, and industry associations will tell you that it is...
Read MoreThe 401k Advantage
Owner or Administrator of a 401(K) Plan? Register for our FREE ONLINE TRAINING HERE. ---------- As business owners, providing your employees with a 401k plan is both a labor of love, and a way to stay competitive for attracting great...
Read MoreHow We're Helping Our Clients During These Turbulent Times
What we are doing for your benefit Our team is working remotely and readily available at (585) 350-7273 to address any questions or concerns. Conducted a “Family Business COVID-19 Survival Guide Webinar” The team is...
Read MoreReady to Outsource the 401K RFP Process to a 401K Specialist?
Family, Wealth & Legacy has a long history of making it easy for business owners to outsource the RFP process because we have a written RFP process, a 401K program and we do this many times a year, not just every 3 to 5 years. We can...
Read MoreMaximizing Business Value - Part 4 - Scaling Up Cash
As Harnish says, “growth sucks cash” and many businesses either fail or face significant losses due to not keeping an eye on their cash flow. It can be easy to overlook cash flow and focus on other business processes, but...
Read MoreMaximizing Business Value - Part 2 -Scaling Up Strategy
Among other necessities, strategy requires a handful of executives to meet at least once a week, not once a quarter. You must spend time working on the business, not just in it. Core Values Harnish sees these as the rules and...
Read MoreMaximizing Business Value - Part 1 - Scaling Up People
Verne Harnish suggests that the first step to ensuring that you are scaling up your business properly is drawing in the right candidates, hiring them and retaining them. Topgrading is a method of hiring “A” Players and was...
Read MoreMaximizing Business Value - Part 3 - Scaling Up Execution
Of all of the execution tips and ideas within Verne Harnish’s book, the Rockefeller Habits Checklist is quite possibly the most important set of information. The list is comprised of 10 must-know habits that enable the successful...
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