# Legacy Financial Advisors Corporation

> 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.

- CRD: 115384
- Filed as: LEGACY FINANCIAL ADVISORS CORPORATION
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Bloomington, MN
- Filing period: October 2026
- Form ADV filing dated: February 11, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/115384
- AdvisorCensus page: https://advisorcensus.com/firm/legacy-financial-advisors-corporation-bloomington-mn-115384

## Quick answers

**How is Legacy Financial Advisors Corporation compensated?**
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.

**How much does Legacy Financial Advisors Corporation charge?**
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.

**Where is Legacy Financial Advisors Corporation located?**
Legacy Financial Advisors Corporation's principal office is in Bloomington, MN, according to its Form ADV.

**Is Legacy Financial Advisors Corporation registered with the SEC or a state?**
Legacy Financial Advisors Corporation is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 115384.

**How much does Legacy Financial Advisors Corporation manage?**
Legacy Financial Advisors Corporation reports $317,668,456 in regulatory assets under management in its Form ADV filing dated February 11, 2026 (98% discretionary).

**How have Legacy Financial Advisors Corporation's assets and staff changed since 2021?**
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.

**What types of clients does Legacy Financial Advisors Corporation serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (146); high net worth individuals (99).

**Which custodians does Legacy Financial Advisors Corporation use?**
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.

**Does Legacy Financial Advisors Corporation report any disciplinary disclosures?**
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

**Does Legacy Financial Advisors Corporation state an account minimum?**
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."

**What changed in Legacy Financial Advisors Corporation's recent Form ADV filings?**
In the March 2026 filing data: Regulatory assets under management went from $285,636,318 to $317,668,456 (+11%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Commissions

### Fees and minimums (Form ADV Part 2A brochure dated February 11, 2026)

- Asset-based fee: 0.7% to 1.25% a year (a range, as the brochure states it)

> The wealth management fees for Clients of Legacy are negotiable and typically fall into a range between .70 % and 1.25%.

- Account minimum: $500,000 (the brochure says it may be waived or negotiated)

> Legacy Financial Advisors has a targeted investment minimum of $500,000 of investable assets per household. This minimum may be waived in certain instances.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

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.

### Regulatory assets under management (Item 5.F)
- Total: $317,668,456
- Discretionary: $312,867,320
- Non-discretionary: $4,801,136

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 146 | $47,583,871 |
| High net worth individuals | 99 | $270,084,585 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | Not reported | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Other

### Firm details
- Registered since: 2003 (23 years)
- Employees: 6 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL, IL, MN, TX, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- lfamn.com
- LinkedIn @LEGACY-FINANCIAL-ADVISORS-CORP.

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $237,970,833 | 5 | March 10, 2021 |
| October 2022 | $260,209,110 | 5 | March 11, 2022 |
| October 2023 | $225,329,499 | 6 | February 23, 2023 |
| October 2024 | $257,187,144 | 6 | February 2, 2024 |
| October 2025 | $285,636,318 | 6 | April 23, 2025 |
| October 2026 | $317,668,456 | 6 | February 11, 2026 |

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.

## Changes in the filing (last 12 months)

### March 2026
- Regulatory assets under management went from $285,636,318 to $317,668,456 (+11%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Legacy Financial Advisors Corporation (CRD 115384): Form ADV filing data as of October 2026.