Ross Pake - Common Business Development Mistakes

Ross Pake founded Legacy Wealth Management in 1993 with the aim of offering a wide range of financial planning service to clients in California. He understands the many difficulties that come with both establishing a business and developing it to the point where it can grow and become a true success. He has pointed out the following mistakes that many new business owners make when they are trying to grow their firms.

Not Acting Like An Expert

As the owner of your own firm you need to make sure that everybody you interact with is confident that you can provide the services that you offer. If fellow professionals don’t think that you are carrying yourself as a peer they will be far less likely to develop a business relationship with you, which may mean that you miss out on some valuable opportunities. Furthermore, if your clients don’t believe that you have the knowledge required to help them reach their goals they will soon look for the services of somebody else.

Rushing Sales

You need to understand that your firm exists in the client’s mind to provide them with something that they need, rather than to sell them something they may not necessarily want. Whenever you speak to a client for the first time you need to take a little bit of time to establish a relationship with them. Ask plenty of questions, as this will give you a better idea of what they are looking for out of the service that you provide to them. If they suggest that they may be interested in a product that you sell, be sure to provide them with all of the information that they need without trying to force the product on the client.

Failing to Communicate

Once you have established a relationship with your client, it is important that you do whatever you can to maintain it. Remember that anybody who hires a Personal Financial Planner is looking for a level of service that lives up to the name, so if you don’t communicate with the client regularly they may start to think that they are just another number to your firm. Update your client on a regular basis and always be sure to inform them of any issues that may affect their finances as quickly as possible.

Not Being Consistent

Many new businesses focus solely on getting the client, while paying less attention than they should to keeping the client. Ross Pake notes that this often leads to a drop in the quality of service the client receives, which can frustrate them to the point where they look for another professional. Set the standard in your first meeting and then always aim to hit this standard throughout the course of the relationship.

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Ross Pake Lives In Santa Ana/Anaheim/Irvine Metroplex

The metropolitan area designation of San Juan Capistrano, California, the hometown of Ross Pake and his family, includes Santa Ana, Anaheim and Irvine. San Juan Capistrano was built around the original Mission of San Juan Capistrano established by Father Junipero Serra in 1776. The city abounds in original and faux Spanish architecture which mimics that of the Mission, and dwellings include homes which go back to the 18th century in original adobe, fabulously wealthy mansions in gated communities, and ranches which still operate in the foothills. Ross Pake and his family are familiar with the legend of the cliff swallows which return each year to Capistrano, among the many rich stories of the history of California.

Ross Pake now resides where Native American Acjachemen tribesmen made their homes before the Mission San Juan Capistrano was founded in 1776. The author of Two Years Before the Mast, Richard Henry Dana Jr., described San Juan as “the only romantic spot in California”. San Juan de Capistrano is also the locale of Johnston McCulley’s Zorro novels. The love song “When the Swallows Come Back to Capistrano” commemorates the annual migratory return of the legally protected cliff swallows from Goya, Argentina to San Juan each year.

Ross Pake and his family may have to learn to miss the swallows, as they have not migrated back to their original nesting places since 2009. Some environmentalists have concluded that the swallows seek out the highest structure for their nests, and the bell tower of the Mission no longer meets that requirement. The swallows have been nesting on the eaves of the Villano Country Club in the Chino Hills.,_California

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Ross Pake - One of the Best

Ross Pake

CFP Ross Pake is now considered to be amongst the top financial planners in all of California, even the country. With over $100 million currently under his management, as well as a loyal client base that, in some cases, spans over 2 and 3 generations, Pake continues to be one of the most sought-after financial advisors, planners and professionals in the industry; someone trusted to help clients meet their goals of achieving long-term financial security and independence.

A skilled investment manager, Retirement Rollover Specialist and financial advisor for many years, Ross Pake brings every client the value of professional credentials, vast knowledge and extensive experience, as well as the personalized service often found missing in the financial services experience. The owner and President of Legacy Wealth Management, as well as one of the top advisors for LPL Financial, a top independent broker-dealer, Pake provides comprehensive resolution to complex investment, tax and estate planning issues, replacing fear and worry about one’s financial future with confidence and peace of mind.

Ross Pake has seen and experienced much throughout his 30-year financial services career, and has picked up a wealth of knowledge and skill along the way. His experiences continue to serve both he and his clients well, affording him the chance to solve not only a client’s existing financial planning issues, but to also be better prepared for any that may arise in the future. His goal is the creation of a financial legacy for every client, one that will remain full and intact for future generations to enjoy.

Call (888) 767-7237 today to find out what Legacy Wealth Management can do for you.

Ross Pake - Big Happenings in 2015

Ross Pake

Ross Pake is a wealth manager with over thirty years of experience in the field. He is the President of Legacy Wealth Management and has over $100m under management with his firm. 2015 is a big year for Pake, as he continues to make strides in his professional life as well as take time to travel and enhance his own personal life. Below is a breakdown of his 2015 goals and accomplishments.

Currently, Pake is working a dream job, running his own firm over at Legacy Wealth Management. Also he will have additional very important events in the near future. Pike says, “I will be changing my Broker-Dealer from LPL Financial – that I joined 19 years ago in 1996 to Cetera Advisors, LLC effective Monday June 22nd, 2015.”
With this new move comes a newly opened window of opportunity for the seasoned financial professional. It has been a long time coming; he first got his CPA credentials in 1993 after graduating from the University of California at Santa Barbara and doing post graduate studies at the University of Southern California and the University of California at Irvine in order to attain his PFP designation. Throughout his decades of experience in financial planning, Pake has earned the credentials and reputation necessary to excel in such a field to the point where he could run his own team of talented financial professionals.

But the recent shift in business isn’t the only exciting thing going on in Ross Pake’s life; he also plans on doing more to enjoy his personal life and plan for retirement. “At some point in next ten years I aspire to work less and travel more. I plan on taking a trip to Spain with my wife in 2015. I love Cabo, Mexico where I have a time share property. In next five years I plan to downsize residence and hopefully develop and build my retirement home. “

With all of these exciting happenings taking place in Ross Pake’s life, it is clear that his hard work has paid off and that his expertise in his field has enabled him to maintain a great quality of life.

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Ross Pake - Delta Tau Delta

Ross Pake joined the Delta Tau Delta Fraternity while he was enrolled in the University of California at Santa Barbara. It was an enriching experience for the young academic, who went on to graduate and become a successful wealth manager. He credits much of his success to the invaluable relationships, connections and values he earned from this respected fraternity. Below is an excerpt from Delta Tau Delta’s official website that explains their mission and values:

“Delta Tau Delta is a values-based organization. Our mission and values are offered to the public as a representation of the core values contained in our Ritual. All Delt men live by a common mission: "Committed to Lives of Excellence." All programs offered by the Fraternity reflect our values, and are designed to help the men of our Fraternity reach the level of excellence for which we all strive. The four fundamental principles of Delta Tau Delta are Truth, Courage, Faith and Power. “

Ross Pake is proud to have adopted the credo practiced by his fellow fraternity brothers. It has helped him continue towards a life of excellence and achieve his personal and professional goals. He believes that joining Delta Tau Delta had a significant and positive impact on his life that started the day of his induction.

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Ross Pake - Courses to Play

Financial services professional Ross Pake is a self-confessed golf enthusiast, as well as someone who is always taking a passionate interest in the history and personalities of the game. An avid golfer himself, Pake is continually searching for any bit of knowledge, information and insight into how better to approach a hole, an obstacle or a course; to take a few strokes off of his score while becoming a more competitive player overall.

As a golf enthusiast, Ross Pake also enjoys studying up on the most notable courses in the game, particularly those that are continually ranked in Golf Digest’s top 100 courses in the United States each and every year. A passionate golfer, Pake hopes to one day play a round on each of these courses, accomplishing a feat few get the opportunity to enjoy over the course of a lifetime. Several of the courses he hopes to play are listed below.

Winged Foot Golf Course

Winged Foot, located in Mamaroneck, New York, is beautiful, open and provides amazing fairway and green challenges to amateur and professional alike. Now that the Norway Spruce that once lined all Winged Foot fairways are gone, the course is playable and accessible to everyone.

Fishers Island Club

Designed and opened in the mid 1920s, as Ross Pake knows, Fishers Island adorns the shores of the Atlantic Ocean with great quality holes, including steep bunkers and geometric greens that demand an extra focus on one’s short game.

Sand Hills

The Sand Hills Golf Club, located in Mullen, Nebraska, Sand Hills Golf Club is, without a doubt, the most natural of courses in the country, shaped to follow the land’s natural hills, valleys and naturally-occurring fairways.

Ross Pake

Ross Pake - Professional Investment Management

Financial independence and retirement security are possible with the help of the right financial professional. When clients choose Ross Pake of Legacy Wealth Management to help build and secure a strong and independent financial future, they are receiving the expert services of a leading financial services professional; someone who has consistently delivered personalized service, and expert investment management and monitoring, to clients over the past 30 years.

As a Certified Financial Professional and Retirement Rollover Specialist, Ross Pake knows the importance of delivering both personal care and a long-term view to every client, qualities that seem to be losing ground throughout the financial services industry. His goal is to provide every individual client the service and care they deserve; to provide a superior-quality experience that provides better results than they ever thought possible.

Ross Pake is a professional of experience, education and expertise, someone with the industry credentials and insight needed to provide every client the best the industry has to offer at all times. He takes care to steer every client in the right direction, and to provide resolution to the long-term tax, estate planning and investment issues they may be facing so as to secure a better potential financial future.

Pake and his team have been a leading source of high-quality financial services for many years, providing clients throughout Tustin and the surrounding area the best care, investment management, estate planning, tax and insurance planning for over a decade. To find out what a Legacy Wealth Management financial professional can do for you, contact the team today toll-free at 888) 767-7237.

Ross Pake

Tee Time with Ross Pake

Golf is a great sport that is captured many imaginations over the years. Unfortunately for those who are not initiated into the sport, it can seem quite complicated. There is a whole run of special terms including birdies, bump and runs, caddies, bogeys and more. So for the beginner, it is appropriate to seek information that will help them understand the game of golf a little bit before they get out there and try and play it. For example, people may not be aware of what kind of clubs that they will need, where they should practice, and when they should move from practice to a natural golf course. Like anything else, there are no truly dumb questions to ask. You will find that an avid golfer is happy to share his knowledge and advice of the game because that is a big part of the golfing experience.

The right equipment is a great start, and it always helps. Finding clubs that fit a beginner is just a matter of finding great advice usually in a sporting goods store. You don’t have to break the bank on high quality equipment at first and it is easy to find something you’re comfortable with. You only really need a few clubs and there is no need to follow the professionals in such that you see on television. Another important step is to find the right ball, and there is no shame in picking a beginner ball because you will probably lose a few if not many on the course.

The next important step is to take lessons right away. The reason for this is to avoid taking on any bad habits before you’ve had a chance to learn the right way to play. Ross Pake is a professional in the founder of Legacy Wealth Management. He has golf on many courses throughout the United States and is always looking to help people learn more about golf.

Ross Pake

Many Clients, Ross Pake

Anytime you have been in a business for more than three decades, chances are you have seen a great deal of clientele during that time. Is that the chances are that you have seen people from all walks of life during the course of that career that could be a truer statement than he is in the world of financial plan. Customer are interested in their financial futures from all walks of life. They come from a wide background of status but they all have some goal in mind. The objective for a financial planner is to help each person find their path to that goal. While this might seem obvious to some it is not something that is truly simple. One might think we just want to get a bunch of money for our clients. That is limited because the truth of it is that financial matters have a number of characteristics and strategies that are built for the short term, the long-term and the inner. There may be different goals and amounts of risk that one is willing to take as well as the amount of returns that one is willing to make in their financial plan. As a financial planner looks at they must come to terms with that client sitting across the table from him in order to find what their goal is and what their expectations are. It is from this initial discussion and ongoing discussion that a solid trusted relationship can be developed and thus financial planner is able to deliver on what that client is looking for the best ones make it look easy and Ross Pake has done this for many clients over the years that it was reputations all about. He is focused, dedicated and trusted by many. He founded and is the CEO of Legacy Wealth Management which is dedicated to this task on behalf of its clients.

Ross Pake

Ross Pake - Staying on the Fairway

As an avid golfer, Ross Pake’s bucket lists includes playing the top 100 courses in America; and especially Augusta National, home of the Masters tournament. And while on his way to achieving this goal, Ross’ golf game has improved significantly. And like most seasoned golfers (and even intermediate ones); Ross appreciates the importance of keeping the ball on the fairway. While the world’s best golfers can sometimes cut corners to get their ball on the green from the tee, that is an ability often reserved for players of that caliber. For everyone else, the fairway is your friend; and your guide to the hole.

Many players coin “fairway golf” as slang for the strategy of playing it safe on the links. Fairway golfers never try to hit the ball too hard or in any other direction that completely straight. And while this may be a guaranteed way to have a straight path to the hole and avoid any penalties, it often costs a few extra swings per hole simply because of the distance it takes to play fairway golf on a hole that has a dog leg or other feature that forces extra navigation.

At the end of the day, fairway gold is the soundest strategy unless you plan on going professional one day. That isn’t to say, however, that you can’t try a different approach every now and then. It all comes down to a judgment call on how much risk you’d like to take when trying to make it to the pin.

Ross Pake

Ross Pake - Texas Hold ‘Em Hands

As poker enthusiast , Ross Pake knows, Texas Hold ‘Em is a type of poker where players only receive two cards to play each, while a spread of five cards is flopped in the center to influence betting. As it goes, there is a round of blinds before the first flop comes, with three cards turned on the first flop. Then there is another round of betting before the second flop comes, which only yields one card. Another round of betting follows and is finished with a final flop of one card before final betting begins. Below, in order from worst to best, are the hands a person could encounter while playing.
High Card: If no pair, then your had will be judged by its highest card; and in cases of a tie, whoever has the highest low card wins
Pair: Two cards of equal value, such as two fours or two queens
Two Pair: Two pairs of cards
Trips: Three of a kind
Straight: Five cards that are in perfect order (ex: 2, 3, 4, 5, and 6)
Flush: Five cards of the same suit; such as five clubs or five hearts
Full House: Three of a kind as well as a separate pair (ex: 2, 2, 2, 3, and 3)
Four of a Kind: Four cards of the same value (ex: four aces)
Straight Flush: Five cars in successive order that are also in the same suit
Royal Flush: A straight flush of the royal family (10, J, Q, K, A)

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Ross Pake Once Sought to Meet Extensive Financial Planner Requirements

Ross Pake

Ross Pake once pursued a major professional credential in financial planning; a professional certification designation verified by a well-known Board of Standards. This unique board oversees these certifications in the United States and helps meet requirements for 25 other organizations. Candidates looking to achieve this particular designation must meet requirements of education, examination, experience and ethics, and pay a regular certification fee.

Ross Pake once pursued this professional designation, one that is only attainable by meeting a variety of requirements. Educationally, the candidate must hold a Bachelor’s degree or higher, or its equivalent, from an accredited institution. Canada does not require a formal university degree. In the United States, the formal degree requirement may be obtained within five years of passing the required exam.

Seekers of this designation, which is a crucial credential for many within the financial planning industry, may also take the Division of Financial Planners Board Exam before acquiring the formal education requirement. Students must have mastery over a list of over 100 topics relevant to financial planning, a curriculum which is equal to approximately 18 semester credit hours, or 6 regular business courses. Topics such as the General Principles of Finance, Insurance planning, Employee Benefits, Investment and Securities, State and Federal Income Taxes, Estate and Gift Taxes, Asset Protection, Retirement planning, Estate and Financial planning and Transfer Tax planning are a general list of the studies which must be included.

The comprehensive exam became a requirement in 1991. As Ross Pake knows, candidates must pass a 10-hour multiple choice exam with 285 questions to attain this unique certification. The exam measures the candidate’s ability to apply his/her knowledge to financial planning for their clients. The exam is a computer-based test. Candidates for the certification must show extensive experience in financial planning, which is defined as work experience as a supervisor, supporter, teacher and deliverer of the personal financial planning process to clients. Experience may be acquired by serving in an internship or shadowing a professional with documented hours. Sponsorship and mentorship could assist the candidate in showing work experience with clients in educating and informing about the financial planning process.

The highest standards of ethics and continuing education combine with advisor employees of the highest character at Legacy. Certificate holders with the Board that oversees the certification process must comply to the highest Code of Ethics and Professional Responsibility to Financial Planning Practice Standards. All advisors at Ross Pake’s Legacy Wealth Management have a fiduciary duty to clients’ investments. Many throughout the industry are monitored by the aforementioned Board through the Disciplinary Rules and Procedures protocols. Certified Advisors must complete 30 hours of continuing education which include 2 hours of Board of Standards ethical information every two years. This update also includes licensing fees and can be formed from a variety of established educational experiences.

Ross Pake Provides Rollover Specialists for High Net Worth Investors

Rollover specialists in the benefits and pitfalls of Individual Retirement Accounts can discuss the positives and negatives of IRA’s with clients, about whether the cash should go into a new plan, left in the existing plan, or cashed out for a better investment opportunity. Rollover specialists can explain options available in Roth accounts for 401((b)s. Ross Pake of Legacy Wealth Management can assist current IRA holders with questions and advice, and can help uninformed investors set up an American Funds IRA, or assist with distribution questions.

Ross Pake is careful to inform clients that investments are not insured by the Federal Deposit Insurance Corporation nor guaranteed by banks or other organizations and may lose value. Thus, investors must carefully consider their goals, the risks to achieve those goals, and other charges or expenses connected to investment opportunities or the use of wealth management firms. Legacy Wealth Management supplies fund prospectuses and summaries, and cautions clients to read carefully all information before committing funds for investment.

Ross Pake works with many investors who are characterized as high-net-worth individuals. Such investors are regarded in the western banking parlance as those having investable assets in excess of a million dollars on an ongoing basis. Classifications assigned to high-net-worth individuals might include an investor who has less than one million, but more than 100,000 dollars being designated as affluent, and a Very high-net-worth individual may be classified as one with a net worth of at least five million dollars.

Ross Pake may also work with what is regarded as a super class of high-net-worth individuals, or Ultra HNWI’s, such as those with an excess of $30 million in financial assets available for investment, or those with disposable income of more than $20 million. This Ultra class of investors consisted of over 13 million people in the word in 2013. Financial investment advisors who are registered with the SEC (Securities and Exchange Commission) must file regular reports registering the number of clients he or she serves who are HNWI’s. This report specifies that individuals with at least $1million invested with a reporting advisor, or whose net worth the advisor believes exceeds $2million, must be reported. These amounts include assets held jointly with a spouse. The SEC definitions of the HNWI includes verifiable non-financial assets as well.

Ross Pake respects the needs of his high-net-worth individual investors, and regards it as his duty to serve their particular needs for wealth management, investment and risk protection. HNWI’s are in need of market leaders who have insight into their needs, and Legacy Wealth Management prides itself on professional client interviews, complete research of business intelligence, and the use of specialty banks and fund managers serve their needs.

Ross Pake Plays Sport Which Originated In Netherlands

Ross Pake

Ross Pake is Devotee of Golf

Modern golf, the game so loved by Ross Pake, developed in Scotland in the Middle Ages, but did not become internationally popular until the 19th century.

The Royal and Ancient Golf Club of St. Andrews claims golf as a Scottish invention, originally known in Scots as gowf. King James II prohibited the play of gowf and football in 1457, calling them a distraction from archery practice, and they were banned again in 1471 and 1491. Mary Queen of Scots was accused of playing golf, “sports that were clearly unsuitable to women”. Golf was also banned under King James IV, but golf clubs and golf balls were bought for him in 1502 in Australia, and again in St. Andrews and Edinburgh. Golf was to be avoided on Sundays in Edinburgh in 1592. An account book of lawyer Sir John Foulis establishes the playing of golf at Mussselburgh Links in 1672, and is accepted as proof that The Old Links, Musselburgh is the oldest playing golf course in the world. The modern instructions for the game of golf so enjoyed by Ross Pake today may have arisen from the diary of Thomas Kincaid, a golf enthusiast and medical student. Kincaid discussed the handicap system and instructions for the proper stance for executing a stroke with the club.

The rules of golf which are religiously adhered to today by passionate golfers like Ross Pake likely arose from the Leith Rules of Edinburgh. The prized Silver Club, the first trophy for a golf competition, was won by surgeon John Rattray three times, the first win being in 1744.

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Ross Pake - How To Plan Financially For Retirement

As part of his work with Legacy Wealth Management, which is a firm he founded in 1993 to offer financial planning services to a variety of client types, Ross Pake often works alongside people who are approaching the age of retirement and want to get their financial affairs in order so that they can enjoy their golden years. There are a number of things that you can do, both before reaching retirement age and in the few years preceding it, to ensure that you can enjoy financial stability when you are no longer working.

Start Saving

Many young people don’t really place too much thought into saving money for their retirement, seeing it as something that is far away in the future that can be handled at a later date. However, nothing could be further from the truth. If you start saving for your retirement as early as possible, you will naturally have more time to build up a strong chunk of wealth that offers you more options and flexibility as you approach retirement.

Converting Your Savings

Having your savings in place is one thing, but converting them into active income is often going to be desirable once you reach retirement age. One of the best ways to do this is through annuities, where you essentially invest your money into the annuity to have it repaid to you at regular intervals, with interest added on top. In short, you need to start considering how you can make the most out of your savings, while also protecting yourself from the risks of spending all of your money too quickly once you have retired.

Pay Off Debts

Your retirement is going to become much more stressful if you still have debts that need to be paid off. As such, it is always a good idea to handle these debts before you actually retire, else you may find yourself struggling to budget a lower income around the money that you still owe to other organizations. If you do end up with debt upon retirement, try to get the lowest interest rate possible on your repayments, so that you are paying back more of the actual debt with each payment.

Consider Government Benefits

There are often a number of government benefits that will become available to you as you reach retirement age. It is a good idea to start researching these as early as possible, as leaving your applications until the last minute may result in delays that could cause you issues in the early years of your retirement.

Speak to A Financial Planner

A Personal Financial Planner, like Ross Pake, will be able to offer you advice on how best to manage your current finances, which takes much of the pressure of researching and getting things arranged yourself away.

Ross Pake

Ross Pake - Traits To Look For In A Financial Planner

Ross Pake realizes that many of his clients have a number of options available to them when it comes to selecting a financial planner. This can often make it a difficult decision, so he points to the following traits that your planner must have in order to help you with your finances.

Strong Communication Skills

The level of personal service you receive from your planner must not be underestimated, as they will need to understand your lifestyle in order to create a plan that fits into it. This means they need to be strong communicators who are able to listen to what your aims are and talk to you with a high level of confidence when discussing the means you can use to achieve those aims.


All financial plans are bound by a code of ethics that ensures they work to the best interests of their clients. Unfortunately, not all will stick to this as fervently as they should and may attempt to mislead their clients in order to generate commissions on the products that they recommend. Avoid any financial planner who does not explain complex terms or attempt to tell you what you want instead of listening to what you need.

Strong Time Management

A financial planner will normally be working with a number of different clients at the same time so they must be able to manage their time effectively. Ross Pake points out that those who can’t will often end up missing appointments or failing to communicate important information to the client in a timely fashion.

Ross Pake

When he is not working with his clients to help them manage their finances, Ross Pake enjoys taking the occasional risk by playing a few hands of poker. Texas Hold-Em is his game of choice and he offers the following pointers for anybody who is new to the game.

Don’t Play Every Hand

It is perfectly okay to fold a bad hand, which is something that many novice players struggle to do. While the cards may turn in your favor if you keep plugging away, if you know you have a bad hand from the start it is more likely that you are going to lose out than score big through the luck of the draw. Don’t take unnecessary risks and only play your best hands.

Bet Small

Until you have become more accustomed to the rules of the game, it is always a good idea to bet small and keep a tight grip on your finances. Only play games that offer little risk in terms of the amount of money that you may lose. This will not only ensure that you keep yourself financially stable, but will also allow you to learn more about the game while playing with minimal risk.

Learn Every Hand

You need to understand every single possible hand in the game before you can play effectively. Ross Pake points out that this is important both for determining how the cards favor you and also how they may favor another player. Take the time to learn about every hand and where they stand on the pecking order in terms of strength.

Ross Pake - Tips For Novice Poker Players

Ross Pake