By Christine Graf
For almost four decades, Legacy Planning Partners has been serving clients in Glens Falls and beyond. Established in 1985 by Dan Hazewski Sr., the family business offers a variety of services including investment management, estate and retirement planning, 529 college saving plans, IRAs, and personal and business financial planning.
“You name it, we do it,” said Hazewski, noting that the firm also does pro bono work in the local community.
Before opening Legacy Planning Partners, he and his wife, Jan, operated several local businesses. Old-timers may remember the Snack Store, a business the couple opened in 1975.
“We leased a gas station on the Northway (exit 16) and put a convenience store in it. We sold gasoline, food, snacks, and we had a delicatessen in it,” said Hazewski. “If I had been smarter, I could have had a huge franchise. Stewart’s was just getting going with theirs.”
As their children were nearing college age, Hazewski realized he needed to find a job that would pay him a steady income. When presented with the opportunity to sell life insurance as an affiliate of Albany Financial Group, he jumped at the chance, opening Legacy Planning Partners. Albany Financial Group’s Dan Edwards was Hazewski’s mentor, teaching him the ins and outs of life insurance.
“Very early on, the company began financial planning,” he said. “So instead of being life insurance agents, we took the road of being financial planners.”
After making the switch, Hazewski earned his certified financial planner (CFP) and chartered financial consultant (ChFC) certifications. Embarking on a career as a financial planner, he realized that his previous experience as a small business owner served him well, allowing him to understand the unique needs of other small business owners.
“I related very well to business owners,” he said. “I understood what it meant to be someone who owned your own business. It made for a really good background for what I do now. If you go into this industry and don’t understand the risks and the way that you can forestall those risks, you are really at a disadvantage.”
Jan has been involved with Legacy Planning Partners since its inception, handling finances, marketing, and other duties. In 1993, Dan Jr., also a CFP, joined the firm after graduating from Siena College. The company’s staff also includes Dan Jr.’s wife, Alison, the firm’s office manager.
“As investment managers, we do full planning. But we don’t do any of that until we get to know the client,” said Dan Jr. “Our first meeting is a fact finder. We sit down with you and talk about your financial goals and objectives.”
“We get to interview you, and you get to interview us,” Hazewski explained. “It’s a very personal relationship where you have to have complete trust in one another.”
On several occasions, he said they turned away clients after realizing they weren’t a good fit for the firm.
“In the 1990s, I had someone come in who said they wanted to double their money in three months. I said, ‘This isn’t really the place for you. You can go down to Saratoga and try the horses.’ I told him that was a better bet.”
“Not very often–but sometimes–you will see someone who has already had several financial planners. You need to know what happened there,” he added. “Is it someone who has unrealistic expectations? Is it someone who is difficult to work with? If it doesn’t fit, it doesn’t fit. The best thing to do is to recognize that in the beginning.”
When working with new clients, father and son share what they refer to as the cardinal rule.
“One of the cardinal rules that Dan and I tell our clients when they are interviewing with us is that if you don’t understand it, don’t do it. If it doesn’t feel comfortable, don’t do it. That applies to all parts of the financial planning world,” said Hazewski.
Although he has no plans of retiring, Hazewski has turned over more and more responsibilities to his son.
“As long as I have my mental capacity, I’m going to be part of the firm, but Dan is going to do the planning at this point in time. My career in the last ten years has been a lot with eldercare/elder law,” he said.
Several years ago, Hazewski wrote a book on the subject, one entitled Exit Right. The book provides insight into the financial, legal, and life situations that individuals may encounter as they age.
“I cover a lot of important things–what you need to know as you are getting into the latter years of your life,” he said.
Legacy Planning Partners has no investment threshold, and prospective clients are encouraged to schedule a no-obligation consultation.
“We’ve been around a long time, and I think we do a really good job with our clients,” said Hazewski. “They come first. Right now, there is a big push about the fiduciary rule and doing the best thing for your client. We’ve always done that–right from the beginning.”
For more information, visit legacyplanningpartners.com