Legacy One Financial Advisors, LLC (Austin)

Name: Legacy One Financial Advisors, LLC
Address: 8911 Capital Of Texas Hwy. N., Bldg. 3, Ste. 3210, Austin, TX, 78759
Telephone: 512-342-0202

Legacy One Financial Advisors, LLC is a large advisory firm based in Austin. It manages $1.57 billion of regulatory assets for 2,221 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Alaska, Arkansas, California, and 3 other states.

Legacy One Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Legacy One Financial Advisors: assets under management

The assets under management (AUM) of Legacy One Financial Advisors, LLC is $1.57 billion. The firm's AUM has grown by 177% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.55 billion in discretionary accounts and $17.04 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $859.82 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $40.87 thousand.

Investments

The firm invests in government bonds the most. They account for 44% of the total AUM. The second-largest asset type is investment and business development companies, which make up 22% of the firm’s portfolio. Investments in state and local bonds form 15% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Legacy One Financial Advisors, LLC for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Legacy One Financial Advisors serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Legacy One Financial Advisors is high net worth individuals with 125 clients and $1.35 billion of assets under management. Among the 11 most similar advisory firms, Legacy One Financial Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.57 billion for 789 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Legacy One Financial Advisors doesn't advise any private funds.

Careers at Legacy One Financial Advisors, LLC

The company employs 25 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 15 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

James Patrick Fortescue joined the executive team most recently as the Managing Partner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Legacy One Financial Holdings	Owner	1 Apr 2017	75% - 100%	82-1240750
Michael Joseph Shuckerow	Chief compliance officer	1 Apr 2017	Other	5159095
Kevin William Lange	Managing principal	1 Jun 2017	Other	2724921
Richard Wayne Schwab	Chief executive officer	1 Jun 2017	Other	6405132
Michelle Diana Ellis	Chief compliance officer	1 Jun 2017	Other	4861485
Carolyn Bargsley	Chief compliance officer	1 Oct 2017	Other	3110382
Patrease Lamour Rogers	Chief operations officer	1 Nov 2017	Other	6188778
Wilhelmina Elizabeth Sheridan	Chief operations officer	1 Oct 2018	Other	6911605
James Patrick Fortescue	Co-chief executive officer	1 Oct 2018	Other	2664841
Jon Patrick Meyer	Chief compliance officer	1 Nov 2018	Other	2959362
James Patrick Fortescue	Managing partner	1 Aug 2019	Other	2664841

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Austinfp	Owner	1 Jun 2017	75% - 100%	464361360
John Paul Dejoria	Owner	1 Aug 2019	25% - 50%	7140459
Llc Jpd Legacy One	Owner	1 Aug 2019	25% - 50%	842349589

Based in Austin

The principal office where Legacy One Financial Advisors, LLC performs its advisory services is located at 8911 Capital Of Texas Hwy. N., Bldg. 3, Ste. 3210, Austin, TX 78759, which is also the mailing address of the firm. An additional office of the firm is in Georgetown, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 512-342-0202 or by fax 512-342-0101. The normal business hours are 8-5pm m-thrs.; 8-3pm fri. on Monday - Friday. You can find more information about the New York firm at legacy1fa.com.