, ,

Neighborhood Spotlight: Scott Cody, Partner Latitude Financial Group, LLC

Monday, November 24, 2014 Leave a Comment

Q: Tell us about your business. 

A: Latitude Financial Group is a comprehensive financial planning firm. My partners and I started LFG in August of 2008 after working together in another firm for six previous years. Myself personally, I have been in practice in 1997 starting in Western New York where my wife and I are originally from. We moved here to Denver in the Fall of 2001. In January 2002, I began my practice here in Denver which is when I met my two business partners.

Q: What distinguishes you from other financial planning firms?

A: Great question. I would say there are a few things: First, I would say experience. There are not many experienced planners who have experienced the dramatic economic and market climate of 2000 to 2003 or the most recent crash of 2008-09. Second, I am not a solo practioner. I have two partners so if something were to happen to me they would be able to jump right in and help my clients. Most financial planners are solo practitioners and are in their mid to late fifties. Many of them are planning their own retirement and will not be able to see their clients to and through retirement. Finally, we are independent firm that offers high-touch service one would expect from a boutique firm with the services, resources and investment research capabilities of much larger firms. Independent means we do not manufacture any financial vehicles/products which we feel creates objectivity for both us and our clients.  

Q: What do you do that’s special?

A: We are big believers in creating and having a written financial plan. This helps define clear goals and objectives. A financial plan will cover things such as cash flow analysis, net worth, estate planning, retirement and college planning analysis. For clients that are in high risk occupations such as physicians, dentists, and attorneys we offer asset protection advice.

Q. Who is a typical client?

A: It is split closely between baby boomers that are within ten years of retirement and millenials. Our millennials typically have advance degrees such as MDs, JDs, and MBAs. Household income is $250,000+, average home value $550,000+, and most of them will have $200,000+ in savings and investments. We are also an excellent solution for individuals who earn well into the seven figures and have a net worth of $15,000,000+.

Q. If there was one piece of advice you could offer, what would it be? 

A: Another great question. Work with a trusted professional and start early. The sooner the better. There are all sorts of well documented studies that have been done by companies such as: Dalbar, Charles Schwab, and AMA (American Medical Association) that have shown the benefits of working with a financial professional.

Scott Cody has been in practice since 1997.  He is married with one daughter.  He and his wife have been Stapleton residents since 2004.