{
  "crd_number": 115384,
  "slug": "legacy-financial-advisors-corporation-bloomington-mn-115384",
  "primary_business_name": "LEGACY FINANCIAL ADVISORS CORPORATION",
  "legal_name": "LEGACY FINANCIAL ADVISORS CORPORATION",
  "dbas": [],
  "city": "Bloomington",
  "state": "MN",
  "country": "United States",
  "cbsa_code": "33460",
  "metro": {
    "cbsa_code": "33460",
    "common_name": "Minneapolis",
    "msa_name": "Minneapolis-St. Paul-Bloomington, MN-WI",
    "path": "/advisors/mn/minneapolis"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2003-05-05",
  "years_registered": 23,
  "period": "2026-10-01",
  "filing_date": "2026-02-11",
  "carried_forward": false,
  "raum_total": 317668456.0,
  "raum_discretionary": 312867320.0,
  "raum_non_discretionary": 4801136.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 6,
  "advisory_employees": 2,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 0.0,
      "count": 0
    },
    "individuals": {
      "raum": 47583871.0,
      "count": 146
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 270084585.0,
      "count": 99
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 0.0,
      "count": null
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "commissions",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "other",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "FL",
    "IL",
    "MN",
    "TX",
    "WI"
  ],
  "websites": [
    "https://lfamn.com",
    "https://linkedin.com/COMPANY/LEGACY-FINANCIAL-ADVISORS-CORP."
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/115384",
  "city_as_filed": "BLOOMINGTON",
  "url": "https://advisorcensus.com/firm/legacy-financial-advisors-corporation-bloomington-mn-115384",
  "display_name": "Legacy Financial Advisors Corporation",
  "summary": "Legacy Financial Advisors Corporation is an SEC-registered investment advisory firm in Bloomington, MN, registered since 2003, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated February 11, 2026.",
  "citation": "AdvisorCensus. Legacy Financial Advisors Corporation (CRD 115384): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Commissions"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Legacy Financial Advisors Corporation compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Legacy Financial Advisors Corporation reports these compensation arrangements: a percentage of assets under its management; commissions."
    },
    {
      "q": "How much does Legacy Financial Advisors Corporation charge?",
      "a": "Its Form ADV Part 2A brochure dated February 11, 2026 states: Asset-based fee: 0.7% to 1.25% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Legacy Financial Advisors Corporation located?",
      "a": "Legacy Financial Advisors Corporation's principal office is in Bloomington, MN, according to its Form ADV."
    },
    {
      "q": "Is Legacy Financial Advisors Corporation registered with the SEC or a state?",
      "a": "Legacy Financial Advisors Corporation is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 115384."
    },
    {
      "q": "How much does Legacy Financial Advisors Corporation manage?",
      "a": "Legacy Financial Advisors Corporation reports $317,668,456 in regulatory assets under management in its Form ADV filing dated February 11, 2026 (98% discretionary)."
    },
    {
      "q": "How have Legacy Financial Advisors Corporation's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Legacy Financial Advisors Corporation: Regulatory assets under management: $237,970,833 in the October 2021 data and $317,668,456 in the October 2026 data, up 33%. Total employees: 5 in October 2021 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Legacy Financial Advisors Corporation serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (146); high net worth individuals (99)."
    },
    {
      "q": "Which custodians does Legacy Financial Advisors Corporation use?",
      "a": "Legacy Financial Advisors Corporation's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Legacy Financial Advisors Corporation report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/115384"
    },
    {
      "q": "Does Legacy Financial Advisors Corporation state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated February 11, 2026 says: \"Legacy Financial Advisors has a targeted investment minimum of $500,000 of investable assets per household. This minimum may be waived in certain instances.\""
    },
    {
      "q": "What changed in Legacy Financial Advisors Corporation's recent Form ADV filings?",
      "a": "In the March 2026 filing data: Regulatory assets under management went from $285,636,318 to $317,668,456 (+11%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 237970833.0,
      "total_employees": 5,
      "filing_date": "2021-03-10"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 260209110.0,
      "total_employees": 5,
      "filing_date": "2022-03-11"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 225329499.0,
      "total_employees": 6,
      "filing_date": "2023-02-23"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 257187144.0,
      "total_employees": 6,
      "filing_date": "2024-02-02"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 285636318.0,
      "total_employees": 6,
      "filing_date": "2025-04-23"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 317668456.0,
      "total_employees": 6,
      "filing_date": "2026-02-11"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-03-01",
      "period_label": "March 2026",
      "notes": [
        "Regulatory assets under management went from $285,636,318 to $317,668,456 (+11%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated February 11, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "0.7% to 1.25% a year",
    "stated_maximum": null,
    "account_minimum": "$500,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 0.7% to 1.25% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "The wealth management fees for Clients of Legacy are negotiable and typically fall into a range between .70 % and 1.25%."
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $500,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "Legacy Financial Advisors has a targeted investment minimum of $500,000 of investable assets per household. This minimum may be waived in certain instances."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        0.7,
        1.25
      ],
      "max_pct": null,
      "account_minimum": 500000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "The wealth management fees for Clients of Legacy are negotiable and typically fall into a range between .70 % and 1.25%.",
      "Legacy Financial Advisors has a targeted investment minimum of $500,000 of investable assets per household. This minimum may be waived in certain instances."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/legacy-financial-advisors-corporation-bloomington-mn-115384.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 146,
      "fewer_than_5": false,
      "raum": 47583871.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 99,
      "fewer_than_5": false,
      "raum": 270084585.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/115384",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}