Legacy & Wealth Financial Advisors

CRD#284432
Investment Advisor Firm

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Overview

Legacy & Wealth Financial Advisors operates as a financial advisor company headquartered in Irvine, California. Legacy & Wealth Financial Advisors handles $38.3 million in assets under management over 103 accounts. It has a small group of one employee who is a financial advisor. Legacy & Wealth Financial Advisors does not act as a registered broker-dealer, meaning the firm cannot buy and sell securities for its own accounts as well as its clients' and instead must go through a broker-dealer company to do so. Securities are tradable financial assets such as bonds, options and stocks.

Legacy & Wealth Financial Advisors oversees all of the firm's client assets on a discretionary basis. Discretionary management signifies that an investment advisor has the discretion to make transaction judgments for the client's account without needing to seek client consent. The company's typical account size is $371,913. $2,500,001 to $5,000,000 of their investments for financial planning services were in securities, with under $100,000 placed in non-securities. The typical financial advisor at Legacy & Wealth Financial Advisors administers about 103 client accounts.

Legacy & Wealth Financial Advisors's headquarters is located at 300 Spectrum Center Drive, Irvine, California 92618. The company is permitted to provide services to investors across a number of states, including California, Nevada and Texas.

Assets Under Management

$38.3 million

Number of Advisors

1

Disclosures

No

Office Location

300 Spectrum Center Drive
Irvine, CA 92618

Legacy & Wealth Financial Advisors by the Numbers

Total Assets Under Management

$38.3 million

National Average: $3.7 billion
Total Number of Employees

1

National Average: 29
Total Number of Accounts

103

National Average: 2,073
Average Account Size

$371.9 thousand

National Average: $1.8 million

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Products and Services

Legacy & Wealth Financial Advisors offers a variety of services, which can consist of financial planning services, portfolio management for individuals and small businesses and other services. In the last financial year, it provided 1-10 of its clients with financial planning services. The company does not sell products or offer services other than investment advice to its investment advisory accounts.

Core Advisor Services

  • Offered by 45% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 62% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

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Fee Structure

Fees charged by financial advisors usually depend on which services the firm provides the client. However, fees billed by the company may include the following fee structures: asset-based or hourly. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by the company. The company can withdraw the expenses directly from client accounts.

Available

  • Offered by 74% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 35% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

Unavailable

  • Find one of the 2% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 17% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 40% of firms that offer this fee type

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

Legacy & Wealth Financial Advisors caters to retail investors and high net worth investors. Out of its 103 customers, Legacy & Wealth Financial Advisors's largest client type is retail investors, although it also serves seven high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 under management or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's customers are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 6.8%
  • Other Individuals - 93.2%
  • Corporations - 0%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Legacy & Wealth Financial Advisors does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Legacy & Wealth Financial Advisors

Michael Valiente
Irvine, CA

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This content was compiled from the SEC and FINRA