Legacy Financial Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, estate planning, and insurance. Financial planning was provided to 500 clients last fiscal year.
Legacy Financial Advisors reports 1,065 clients. They include 579 individual clients, 482 high-net-worth individuals and 4 charitable organizations. Of its assets, 100.0% ($1.52B across 3,721 accounts) are managed with discretion. It advised 1 client without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 54% | 11% |
| High-net-worth individuals | 45% | 89% |
| Charitable organizations | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 579 | $161M | 10.6% | $278K |
| High-net-worth individuals | 482 | $1.34B | 88.6% | $2.79M |
| Charitable organizations | Fewer than 5 | $11.7M | 0.8% | $2.92M |
| Total | 1,065 | $1.52B | 100% | — |
- Clients
- 579
- Regulatory AUM
- $161M
- AUM share
- 10.6%
- Avg. per client
- $278K
- Clients
- 482
- Regulatory AUM
- $1.34B
- AUM share
- 88.6%
- Avg. per client
- $2.79M
- Clients
- Fewer than 5
- Regulatory AUM
- $11.7M
- AUM share
- 0.8%
- Avg. per client
- $2.92M
Total
- Clients
- 1,065
- Regulatory AUM
- $1.52B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 1
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 500
Legacy Financial Advisors charges 0.50%–1.00% a year for its Standard Fee Schedule. The fee is billed in arrears and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning
- Flat fee of $5,000, payable on delivery of the financial plan.
Michael Maisel owns 25% to 50% of Legacy Financial Advisors. The leadership team of Legacy Financial Advisors includes Chief Compliance Officer Jonathan Kasting. It has 21 employees, 12 of them in advisory roles.
Leadership
- Jonathan KastingChief Compliance Officer
- Laura BranumChief Operations Officer
- Robert KuhnheinDirector of Investments
- Michael MaiselCEO and Managing Principal
- Paul SartoriManaging Principal
- Peter LucasManaging Principal
Investment adviser representatives
13 representatives listed in the SEC register as of 9 October 2026.
- Matthew James Aquilia
- Justin Kerr Brown
- Robert Justin Kuhnhein
- Mitchell James Lampert
- Michael Joseph Maisel
- Michael Jonathan Maisel
- Michael James McWhinnie
- Lars Edward Meiman
- Seth Howard Sanborn
- Paul Anthony Sartori
- Robert Clayton Scroggins
- John Morgan Smith IV
- John Michael Wildern
Staff
- 21 employees
- 12 in advisory functions
- 12 state-registered reps
- 7 insurance agents
- 3 soliciting firms
- Owns 25% to 50% of Legacy Financial Advisors, Inc.
Michael Maisel
Control person · since July 2011
- Owns 25% to 50% of Legacy Financial Advisors, Inc.
Paul Sartori
Control person · since July 2011
- Owns 25% to 50% of Legacy Financial Advisors, Inc.
Peter Lucas
Control person · since July 2011
Legacy Financial Advisors’ regulatory assets grew 2.0× from $765M (June 2021) to $1.52B (July 2026); clients rose from 862 to 1,065 and employees from 20 to 21.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| July 2026 | $1.52B | 1,065 | 21 | 3 |
| March 2025 | $1.26B | 1,032 | 21 | 3 |
| June 2024 | $1.13B | 1,009 | 17 | 1 |
| June 2023 | $988M | 981 | 20 | 1 |
| March 2022 | $915M | 913 | 20 | 2 |
| June 2021 | $765M | 862 | 20 | 2 |
Besides its headquarters, Legacy Financial Advisors has 2 offices (2 private residences, listed without an address), with 1 listed address in Kentucky.
Kentucky · 1 listed address
- 117 East Fourth Street, CovingtonHQ
Contact and registration details
- Legal name
- Legacy Financial Advisors, Inc.
- Headquarters
- 117 East Fourth Street, Covington, KY 41011
- Website
- legacyfinancialadvisors.com
- Phone
- 859-655-5225
- @10445928
- SEC file
- 801-72637
- Founded
- 2006
- Structure
- Kentucky corporation
- Fiscal year end
- December
Legacy Financial Advisors uses Fidelity ($473M) as custodian for its separately managed accounts. Legacy Financial Advisors has custody of $440M in client assets for 299 clients.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $473M100%
At year end, Legacy Financial Advisors’ separately managed accounts were largely in stocks (42%) and funds (40%). Its reported 13F holdings for the quarter ended 30 June 2026 total $820M across 435 positions; the largest are Wisdomtree US Quality Dividend Growth Fund (8.5%), Franklin International Core Dividend Tilt Index Fund (4.5%) and Freedom 100 Emerging Markets ETF (3.5%).
What the accounts hold
- Stocks42%
- Funds40%
- Bonds7%
- State and local bonds4%
- U.S. government and agency bonds2%
- Investment grade corporate bonds1%
- Cash6%
- Other4%
- Derivatives4%
Filed values cover 99%. The neutral 1% gap has no reported category.
Reported 13F holdings
- $820M
- Reported 13F value
- 435
- Positions
- 36.0%
- In the 10 largest
- +14.7%
- Value vs. prior quarter
- Wisdomtree US Quality Dividend Growth FundETF8.5%
- Franklin International Core Dividend Tilt Index FundETF4.5%
- Freedom 100 Emerging Markets ETFETF3.5%
- iShares Core S&P Total U.S. Stock Market ETFETF3.3%
- Apple Inc.3.2%
- Nvidia Corp.3.0%
- Wisdomtree US Value Fund OF Benef InterestETF2.8%
- Wisdomtree U.S. Quality Growth FundETF2.7%
- Pimco Multisector Bond Active Exchange-traded FundETF2.7%
- Microsoft1.8%
Together, the ten largest are 36.0% of reported value.
How many clients does Legacy Financial Advisors have?
Legacy Financial Advisors has 1,065 clients and manages $1.52 billion for them, as of July 2026. They include 579 individual clients, 482 high-net-worth individuals and 4 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 17 July 2026
What services does Legacy Financial Advisors offer?
Legacy Financial Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, estate planning, and insurance.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Legacy Financial Advisors charge?
Legacy Financial Advisors charges 0.50%–1.00% a year for its Standard Fee Schedule. The fee is billed in arrears and is negotiable.
Source: LEGACY FINANCIAL ADVISORS BROCHURE, filed 6 March 2026
Which custodians does Legacy Financial Advisors use?
Legacy Financial Advisors’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $473M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 17 July 2026
How many financial advisors does Legacy Financial Advisors have?
Legacy Financial Advisors has 12 investment adviser representatives registered with state securities authorities, out of 21 employees, and 12 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 7 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Legacy Financial Advisors invest in?
At the end of its last fiscal year, Legacy Financial Advisors’ separately managed accounts held 42% exchange-traded equities, 40% registered funds (mutual funds, ETFs, BDCs), 6% cash and equivalents, 4% state and local bonds, 4% derivatives, 2% U.S. government and agency bonds and 1% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Legacy Financial Advisors?
Legacy Financial Advisors’ direct owners are Michael Maisel, Paul Sartori and Peter Lucas, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 17 July 2026
How does Legacy Financial Advisors get paid?
Legacy Financial Advisors is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Legacy Financial Advisors registered with the SEC?
Yes, Legacy Financial Advisors has been registered with the SEC as an investment adviser since 2 August 2011. Its CRD number is 158675 and its SEC file number is 801-72637.
Source: Form ADV Part 1A, Item 1, filed 17 July 2026; IAPD firm record
How do I contact Legacy Financial Advisors?
Legacy Financial Advisors’ main office is at 117 East Fourth Street, Covington, KY 41011. Its phone number is 859-655-5225. Its website is legacyfinancialadvisors.com.