Dean W. Cherpitel

Dean W. Cherpitel

| CLU®, ChFC®

Legacy Wealth Planning, LLC

913-648-4657

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Fee-Only Financial Advisor serving Overland Park, KS area.

Specialties

  • Fee-Only Financial Services
  • Comprehensive Financial Planning
  • Free Initial Consultation
  • Investment Management
  • Retirement Planning
  • Education Planning
  • Elder Care Issues
  • Estate Planning
  • Insurance Analysis
  • Charitable Giving and Trusts
  • Planning for Business Owners
  • Cash Flow and Budgeting

Website

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5750 W. 95th Street
Suite 128
Overland Park, KS 66207

Fee-Only & Fiduciary


The National Association of Personal Financial Advisors (NAPFA) is the country's leading association of fee-only and fiduciary financial planners.

Dean Cherpitel is a Overland Park, KS Fee-Only Financial Planner serving the entire Overland Park area. Legacy Wealth Planning, LLC specializes in providing objective financial planning and advice to help clients build, manage, grow, and protect their assets through life's transitions. Dean Cherpitel is a NAPFA-Registered Financial Advisor and a CERTIFIED FINANCIAL PLANNER™ Professional.
I am the Managing Partner and co-founder of Legacy Wealth Planning, L.L.C. I have spent 35 years in the financial services industry. My work experience involves 22 years as a licensed securities registered representative and licensed insurance representative, and 13 years as a Fee-Only advisor. During 5 of those 13 years, I also served as a trust officer and have done income tax preparation for 10 years.

My passion is helping people. I feel very fortunate to be able to combine all of my experience into one discipline that was not a widely recognized occupation when I started. In retrospect, I was able to follow a blueprint very similar to one you would pursue if you came out of college today with the goal of being a financial planner. The most difficult part of the plan was to convert to a Fee-Only advisor relationship. However, it has provided the best 13 years out of the 35 year journey.

  • Bachelor of Arts degree in Speech Communications and Human Relations from the University of Kansas
  • Chartered Financial Consultant from The American College
  • Chartered Life Underwriter from The American College
  • NAPFA member since 1998
  • Licenses held before becoming Fee-Only
    • NASD Series 22, 6 & 63
    • Licensed insurance representative, Kansas & Missouri
  • Former member of Methodist Church finance committee
  • Current member of Methodist Church Foundation

I currently live in Overland Park, Kansas with my wife Brenda. We have two children, a son and daughter who are both living on their own.

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We have designed our firm based on a few unalterable cornerstones. These make us different than other firms in the market place. They are:

  • To operate as fee-only and remain independent
  • To provide holistic wealth management services to clients,
  • To continue to evolve using the best investment management products and processes available
  • To be the most transparent, and
  • To offer the advantages of a smaller boutique firm.

The motivation behind these principles is that we want clients not customers. This involves a closer family-style personal relationship. We are interested in quality as opposed to quantity. We do not view our work as a competition for the highest number of clients, the largest quantity of financial plans completed each year or the most assets under management.
 

Fee Only

Probably the most important philosophical tenet of Legacy Wealth Planning is our method of fee-only compensation. Financial advisors usually are compensated in one of three ways:

  • Through fees (and only fees) paid to them by clients for their work. This is either as a percentage of investment assets under management and/or retainer fees for planning;
  • Through commissions on investment and/or insurance products that are sold to clients; or
  • Through a combination of fees and commissions usually referred to as fee-based where a percentage of assets under management is charged and the advisor also receives commissions for investments recommended in the portfolio
As of January 2012 there were 635,405 Financial Advisors registered with the Financial Industry Regulatory Authority (FINRA). Only 1,478 advisors were Fee-Only, as listed with the National Association of Personal Financial Advisors (NAPFA) in 2012 and were compensated by method one above. That means 99.99% of advisors in 2012 were either partially or totally compensated through commissions (methods two and three above) that present a potential conflict of interest.

 

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