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Leon C. LaBrecque

CFP®, CFA, CPA
Personal Finance, Retirement, Taxes
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“Leon LaBrecque is the CEO of LJPR Financial Advisors.”
Firm:

LJPR Financial Advisors

Job Title:

CEO

Biography:

After growing up in Hazel Park, Michigan, Leon LaBrecque graduated magna cum laude from University of Detroit with degrees in accounting and law. He grew his wealth management firm, LJPR Financial Advisors, from the ground up with a foundation in financial education.

Leon started his career in 1977 in the accounting profession. Leon worked in public accounting as a pension specialist, then became the Chairman of the Department of Finance and Economics at Walsh College.

Leon took his educational background to the outside world, where he wrote and delivered programs in personal finance and pre-retirement to Ford, AT&T, BellSouth, CalPERS, the states of Washington, Montana, Idaho, and many other entities. Leon has also been an author, co-authoring a personal finance textbook, “Practicing Financial Planning for Professionals,” and producing programs on IRAs and retirement, some very specific to groups, such as police officers and fire fighters (which we call 'Guns & Hoses').

Leon is also a director of the Michigan Association of CPAs (MICPA), where he leads a special task force on new tax changes. He is tasked to help get the best perspectives on any new tax law changes for 2017 and 2018 and communicate those changes to MICPA's membership. Leon is also involved in the nonprofit arena, helping organizations raise funds and build awareness, as well as invest their money.

Leon and his wife Anne, like to travel and spend time in northern Michigan, where they enjoy hiking, biking, kayaking and playing with their golden retrievers.

Education:

BS, Accounting, University of Detroit
JD, Law, University of Detroit School of Law

Assets Under Management:

$674 million

Fee Structure:

Asset-Based

CRD Number:

4347024

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May 2017
    Lifestage Based Planning, Retirement, Retirement Living

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    Financial Planning
Where should I keep cash in the event of a total market crash?
63% of people found this answer helpful

Without sounding flippant, in the Doomsday scenario you portray, what makes you think cash will be any good?  Look at a bill in your wallet, and note the phrase ‘this note is legal tender’.  It only works if everybody thinks it works.  Money no good, you can roll cigarettes with it:  refer to ‘Weimar Republic currency’ or ‘Zimbabwe currency’ on your search. I’ve had this question many times before, so some folks say ‘I’ll buy a gold ETF.’ And my response is, ‘When everything collapses, how will you get your gold?’  So let’s think it over:  if the market completely collapses, financial assets will be at least temporarily worthless.   That would leave you with a barter based system or chaos.  In the barter-based system, metals like gold or silver may be worth something, although many barter economies have functioned on packs of cigarettes or stone disks.  In chaos, the barter breaks down, and now you need a couple of Navy SEALS and a lot of ammunition.  If it’s any consolation, we’ve had whole societies collapse and we’re still here, so I’d pose that having some hard assets makes sense.  Krupp and the Sumitomo Copper company survived multiple wars, currency collapses and in Sumitomo’s case, a nuclear bomb.  Both of those companies were established in the late 1500s, and Theisen Krupp is still here, and so is Mitsubishi (which was Sumitomo).  Capitalism is resilient.  

Leon LaBrecque, JD, CPA, CFP®, CFA
Managing Partner | LJPR Financial Advisors

 

 

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