Legacy Financial Group provides financial planning, portfolio management for individuals and small businesses, selecting other managers, and educational seminars. Financial planning was provided to 51–100 clients last fiscal year.
Legacy Financial Group reports 1,452 clients. They include 1,136 individual clients, 314 high-net-worth individuals, and 2 corporations and other businesses. Of its assets, 98.8% ($996M across 4,082 accounts) are managed with discretion; $11.9M across 64 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 78% | 31% |
| High-net-worth individuals | 22% | 68% |
| Corporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 1,136 | $312M | 31.0% | $275K |
| High-net-worth individuals | 314 | $686M | 68.1% | $2.19M |
| Corporations and other businesses | Fewer than 5 | $9.27M | 0.9% | $4.64M |
| Total | 1,452 | $1.01B | 100% | — |
- Clients
- 1,136
- Regulatory AUM
- $312M
- AUM share
- 31.0%
- Avg. per client
- $275K
- Clients
- 314
- Regulatory AUM
- $686M
- AUM share
- 68.1%
- Avg. per client
- $2.19M
- Clients
- Fewer than 5
- Regulatory AUM
- $9.27M
- AUM share
- 0.9%
- Avg. per client
- $4.64M
Total
- Clients
- 1,452
- Regulatory AUM
- $1.01B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 51–100
Legacy Financial Group charges 0.70%–1.20% for its Investment Management. The brochure does not state whether the rate is annual. The fee is billed in advance and is negotiable. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Consulting
- Hourly rate of $150 to $250 for planning and consulting, with projects generally $600 to $2,000 per engagement; no fee above $1,200 is charged more than six months in advance.
- Retirement Plan Services
- Advisory fee of 0.70% to 1.2% of plan assets, depending on the total value of the plan assets, billed quarterly in advance.
Spectrum Wealth Advisors, Inc. owns 75% or more of Legacy Financial Group and is in turn owned by Brian Hood (25–50%). The leadership team of Legacy Financial Group includes Chief Compliance Officer Michelle McCarthy. It has 18 employees, 11 of them in advisory roles.
Leadership
- Michelle McCarthyChief Compliance Officer
- Scott ArnburgPartner Advisor
- William ElsonPartner Advisor
- Brian HoodPartner Advisor
- Scott NelsonPartner Advisor
- Rachel WoodPartner Advisor
Investment adviser representatives
8 representatives listed in the SEC register as of 9 October 2026.
- Scott R Arnburg
- William Bemis Elson
- Anthony Gensler
- Nicholas William Hemsted
- Brian Joseph Hood
- Scott Andrew Nelson
- Tamara Lynn Smith
- Rachel Elaine Wood
Staff
- 18 employees
- 11 in advisory functions
- 8 state-registered reps
- 3 broker-dealer reps
- 8 insurance agents
- 1 soliciting firm
- Owns 75% or more of Legacy Financial Group, LLC
Spectrum Wealth Advisors, Inc.
Control person · since January 2017
- Owns 25% to 50% of Spectrum Wealth Advisors, Inc.
Brian Hood
Control person · since January 2017
Legacy Financial Group’s regulatory assets grew 1.7× from $592M (July 2021) to $1.01B (May 2026); clients rose from 1,334 to 1,452 and employees from 15 to 18.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| May 2026 | $1.01B | 1,452 | 18 | 1 |
| March 2025 | $840M | 1,473 | 18 | 1 |
| January 2024 | $726M | 1,359 | 18 | 1 |
| April 2023 | $605M | 1,272 | 16 | 1 |
| June 2022 | $713M | 2,147 | 18 | 1 |
| July 2021 | $592M | 1,334 | 15 | 1 |
Besides its headquarters, Legacy Financial Group has 0 offices, with 1 listed address in Iowa.
Iowa · 1 listed address
- 6000 Grand Avenue, Suite B, Des MoinesHQ
Contact and registration details
- Legal name
- Legacy Financial Group, LLC
- Headquarters
- 6000 Grand Avenue, Suite B, Des Moines, IA 50312
- Website
- lfgplanners.com
- Phone
- 515-255-3306
- SEC file
- 801-79803
- Structure
- Iowa LLC
- Fiscal year end
- December
Legacy Financial Group uses Charles Schwab ($999M) as custodian for its separately managed accounts. Legacy Financial Group has custody of $108M in client assets for 444 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $999M100%
At year end, Legacy Financial Group’s separately managed accounts were mostly in funds (85%). Its reported 13F holdings for the quarter ended 30 June 2026 total $888M across 133 positions; the largest are iShares Core S&P U.S. Growth ETF (7.9%), iShares Core S&P 500 ETF (6.3%) and State Street SPDR S&P Dividend ETF (6.1%).
What the accounts hold
- Stocks5%
- Exchange-traded equities4%
- Non-exchange-traded equities1%
- Funds85%
- Bonds4%
- U.S. government and agency bonds1%
- State and local bonds1%
- Investment grade corporate bonds1%
- High-yield corporate bonds1%
- Cash4%
- Other2%
- Derivatives1%
- Cd's1%
Reported 13F holdings
- $888M
- Reported 13F value
- 133
- Positions
- 50.1%
- In the 10 largest
- +11.7%
- Value vs. prior quarter
- iShares Core S&P U.S. Growth ETFETF7.9%
- iShares Core S&P 500 ETFETF6.3%
- State Street SPDR S&P Dividend ETFETF6.1%
- FT Vest Laddered Deep Buffer ETFETF5.8%
- Essential 40 Stock ETFETF5.1%
- Vanguard Morningstar Small-cap ETFETF4.7%
- FT Vest Laddered Buffer ETFETF4.4%
- iShares Core Total Usd Bond Market ETFETF4.0%
- iShares MSCI Emerging Markets EX China ETFETF2.9%
- iShares Flexible Income Active ETFETF2.9%
Together, the ten largest are 50.1% of reported value.
How many clients does Legacy Financial Group have?
Legacy Financial Group has 1,452 clients and manages $1.01 billion for them, as of May 2026. They include 1,136 individual clients, 314 high-net-worth individuals, and 2 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 18 May 2026
What services does Legacy Financial Group offer?
Legacy Financial Group provides financial planning, portfolio management for individuals and small businesses, selecting other managers, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Legacy Financial Group charge?
Legacy Financial Group charges 0.70%–1.20% for its Investment Management. The brochure does not state whether the rate is annual. The fee is billed in advance and is negotiable.
Which custodians does Legacy Financial Group use?
Legacy Financial Group’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $999M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 18 May 2026
How many financial advisors does Legacy Financial Group have?
Legacy Financial Group has 8 investment adviser representatives registered with state securities authorities, out of 18 employees, and 11 perform investment advisory functions. 3 employees are registered representatives of a broker-dealer and 8 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 Group invest in?
At the end of its last fiscal year, Legacy Financial Group’s separately managed accounts held 85% registered funds (mutual funds, ETFs, BDCs), 4% exchange-traded equities, 4% cash and equivalents, 1% non-exchange-traded equities, 1% U.S. government and agency bonds, 1% state and local bonds, 1% investment grade corporate bonds, 1% high-yield corporate bonds, 1% derivatives and 1% other. The 1% other category is described as: CD'S.
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 Group?
Legacy Financial Group is owned through a holding company by Brian Hood. Its direct owner is Spectrum Wealth Advisors, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 18 May 2026
How does Legacy Financial Group get paid?
Legacy Financial Group is paid through a percentage of assets under management, hourly charges and other compensation. 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 Group registered with the SEC?
Yes, Legacy Financial Group has been registered with the SEC as an investment adviser since 29 May 2014. Its CRD number is 154927 and its SEC file number is 801-79803.
Source: Form ADV Part 1A, Item 1, filed 18 May 2026; IAPD firm record
How do I contact Legacy Financial Group?
Legacy Financial Group’s main office is at 6000 Grand Avenue, Suite B, Des Moines, IA 50312. Its phone number is 515-255-3306. Its website is lfgplanners.com.