Navigoe Trustee Services
Scott Leonard, a Licensed Professional Fiduciary, serves his clients as a professional trustee, executor and/or guardian. He is a CERTIFIED FINANCIAL PLANNER® professional and owns a fee-only Registered Investment Advisor, providing wealth management services to high net worth families in the South Bay. Scott started Navigoe 26 years ago and has worked in the industry for more than 30 years.
What fulfills you most about your career?
The education and mentoring process of serving as a trustee and wealth advisor is enriching. I receive great satisfaction watching the confidence and freedom people obtain as they increase their financial IQ and control their finances.
What problems do you solve for clients?
Finding someone to serve as a trustee is difficult for many wealthy families. The large banks and trust companies tend to be impersonal. Using family members as trustees comes with its own set of concerns. As my clients’ wealth advisor, I have spent years—sometimes decades—working with them and their family members. It became a natural progression to become a California Licensed Professional Fiduciary to be able to serve as their trustee too. My knowledge of their entire financial situation and their unique goals and wishes has allowed me to be the solution to the question of who will serve as their trustee.
What does it take to earn the label “trusted advisor”?
My 30+ years of experience as a wealth advisor has provided me the expertise to serve as a trustee for clients. Experience is critical in various financial topics: estate, tax, trusts, insurance, investments, retirement, cash flow, etc. My professional experience working with many families over the decades also enhances my ability to serve as a trustee.
In what ways is your industry changing with the times?
Trust companies have grown to be huge, impersonal investment management companies. Back when a family would have a long-term, personal relationship with their local banker, it was a natural fit to have them serve as successor trustee. But the local community bank has vanished. As a result, large institutions are now serving as trustees. This has resulted in the need for a different type of professional trustee: an individual with a long-term relationship with the family, and the experience and expertise to help manage all aspects of their finances. The Licensed Professional Fiduciary, combined with a Registered Investment Advisor, addresses the problem. As the financial services industry continues to evolve into consulting firms, providing trustee services is a natural evolution.