Legacy Wealth Management, Inc. is an independent employee-owned firm that was
founded in 1982. Legacy’s team of financial professionals has extensive financial planning
and portfolio management experience. Staff members work together in client service
teams to develop and manage a client’s overall long-term financial and investment strategy.
Legacy’s Chairman, Jim Isaacs, owns 12% of the outstanding shares. Other significant
shareholders who own between 8% and 13% are: Duncan Miller, Charles Jalenak, Hallie
Peyton, Lindsey Mazzola, and Rob Sievers.
Legacy coordinates financial planning with customized portfolio management and ongoing
wealth management when appropriate. Our firm provides service on a “fee-only” basis. We
do not sell products or earn commissions. Fee-only compensation allows Legacy to provide
services that are objective and unbiased so that clients receive financial planning and
portfolio management advice based on their specific long-term financial goals.
Legacy manages investment assets on a discretionary basis for individuals, trusts,
institutions, and other investors. Legacy consults with its clients to determine their needs,
risk tolerance, and investment objectives. When Legacy and the client have reached an
agreement concerning investment objectives, Legacy implements day-to-day investment
decisions based on those objectives. Legacy rebalances client accounts as needed. Legacy
customarily rebalances portfolios and makes changes without additional consultation with
clients. Client portfolios consist primarily of no-load mutual funds, exchange traded funds
or individual bonds. In addition to the customary asset classes available through
investment in mutual funds and Exchange Traded Funds (ETFs) (equity,
fixed income, real
estate, commodities), Legacy makes available other types of investment strategies and
vehicles to clients for whom such investments are appropriate. Legacy will at times
recommend sub-advisers for a portion of a client’s assets under management. Some
portfolios consisting of individual bonds (as opposed to bond mutual funds and ETFs) are
managed by a sub-adviser. Sub-advisers are compensated on an agreed upon fee schedule
that is charged to the client in addition to fees charged by Legacy.
Legacy also offers financial planning services in addition to portfolio management services.
Services range from simple consultations on specific problems to comprehensive financial
plans covering all aspects of a client’s needs, including, but not limited to, cash flow, debt
management, budgeting, risk management, education planning, tax planning, retirement
planning, early retirement-offer evaluations, deferred compensation planning, estate
planning and any other related issues. In each case, client objectives are carefully
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identified at the beginning, and the planning process is structured so that these objectives
are addressed. Except for brief consultations on one-time matters, most clients receive a
written or electronic report on their objectives that addresses the facts, key assumptions,
an analysis of the situation and recommendations on alternatives to help them reach their
goals.
Legacy does not participate in wrap fee programs.
As of March 1, 2024, Legacy managed approximately $2,165,162,094 in assets for
approximately 1,363 clients. Approximately $2,042,731,852 is managed on a discretionary
basis and approximately $122,430,242 is managed on a non-discretionary basis.