Law and financial planning are two distinct disciplines that work well together. From estate planning, to contract negotiations, to investment and financial strategy, the two disciplines intertwine constantly.
For Missouri-licensed attorney and financial planner Randy Larson, this dual expertise represents a unique way to help his clients holistically manage their wealth.
Randy Larson’s life and work is guided by his faith and his commitment to helping his fellow man. As a co-founder of 25 Financial with his brother Jeff Larson, he offers comprehensive financial planning and rare alternative investment opportunities for physicians and other high net-worth entities. As the founder of his own firm, the Larson Firm, LLC, he practices estate planning, business law, and asset protection for physicians and dentists.
Early Experience and Inspiration
Randy Larson had not always planned to be an attorney and financial planner. As a youth, he’d wanted to be a pastor or missionary. One of the most significant turning points in his journey came as a young adult, where he’d hit rock bottom and was searching for purpose. He signed up to teach Sunday school with his church. He found it fulfilling, and chose to focus on that fulfillment and proceed into Seminary School.
After taking an aptitude test upon his graduation from Seminary school, the path of the attorney seemed to be a good fit. He traveled to St. Louis, MO to attend law school at Washington University, where he graduated with his J.D. in Law, and an LL.M in Taxation. It was around this time that he heard from his brother Jeff Larson, who’d begun practicing as a financial advisor and was looking for a partner in business. Randy Larson soon found that both roles, lawyer and financial advisor, played to his passions and strengths of communication and education.
Professional Journey
After some initial missteps in running his own business, Randy Larson gained the valuable experience he needed to define his leadership style and working philosophy. One of the core pillars of this philosophy is trustworthiness, defined by what Larson has coined as the Three C’s: competence, character, and communication.
“Most marriages, work disputes, etc. that end up as trust issues began as communication issues,” Randy Larson says, “If you are a competent person of character that is able to communicate effectively, you will gain people’s trust and growth of the business will organically happen over time.”
When it comes time to make decisions in his business, Randy Larson is a proponent of the WIDGET Working Genius 6-step approach to strategy and decision making. It’s a set process with consistent flow that keeps him and his team excited and ready for the eventual implementation. For Larson specifically, much of the value in the system comes from the first half—Wonder, Invention, and Discernment.
“I like to think about decisions like trying on a pair of pants,” he says. “Try them on and walk around (sleep on it, discuss with wise counsel, meditate and pray about it, etc.) with a solution or decision theoretically, before implementing practically. If it is not a good fit, find a different pair of pants and walk around in those for a few days/weeks. But do something. Always move forward.”
Professionally, Randy Larson has three overarching values: momentum, character, and stewardship. He and his partners maintain momentum by constantly growing, learning, and trying new things. They work to be people of character, to be trustworthy and steadfast in their values. Finally, they believe in the importance and deep responsibility to their clients, and the wealth they steward as a law and financial planning firm. With these guiding values, Randy Larson delivers consistent, careful, and actionable guidance to those in need of his guidance.
A Focus on Growth
Staying up to date on local causes, industry trends, and emerging technologies is a mandatory part of Randy Larson’s success, and he takes care to be constantly growing to meet the needs of his clients and community. Whether it’s keeping abreast of news headlines and articles in the WSJ and New York Times, or attending 4-5 annual conferences a year to keep track of new alternative investments, Larson makes sure he’s apprised of macro level events both domestically and globally.
Setting and tracking achievable goals is an important part of Larson’s growth paradigm. Every year he takes a short sabbatical with his wife to plan for the year to come. They start with non-monetary goals, usually involving his ministry or family goals like visiting nursing homes or other family activities, before moving on to goal building for their businesses.The highest level goal for each business is to bring intrinsic and instrumental good to the world through the business. One example of this would be the amount of money, time, and effort the business can donate to those in need. Larson works hard to ensure that at least 20% of his profits go to charity each year. Any profit growth goals are not set for their own material benefit, but to afford to give more to the broader community.
Community Outreach and Impact
Randy Larson is a community-focused man, and much of his life has been driven by his compassion and desire to help others. As such, he regularly works with a variety of organizations and individuals to help the needy in his community and beyond, both in and outside his Christian faith community. This inclination toward community runs all the way back to childhood, where he found fulfillment in helping the vulnerable on mission trips to Brazil, Africa, and Costa Rica.
Today he continues to give back in a number of ways. In alignment with his faith, he does so via mission trips (where he refused payment and instead funded the trips personally), teaches youth group and Sunday school at his church, and hosts dozens of weddings, reunions, and other events at his house every year.
Outside of his faith, he and his family have gone out of their way to support single moms and families in need. Over the past years they’ve purchased 15 cars for single mothers in need of transportation, and allowed several families to live rent-free in their home until the family got back on their feet. For broader causes, Randy Larson and his family donates 20% of the profits from their companies to a Donor Advised Fund to be distributed to those most in need.
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Randy Larson Financial Planner and Attorney Focuses on Growth