Legacy Financial Advisors Corporation

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Client assets under management

$317,668,456

Clients

245

40% high-net worth

Advisors

of 6 employees

Firm type

Supported

1-3 advisors or $200M+ in AUM

Clients per advisor

123

Very High

Average account size

$1,296,606

About

Legacy Financial Advisors Corporation is a wealth-management firm founded in 1996 that provides portfolio and wealth management, selection of private money managers, and financial, retirement and estate planning to individuals, family trusts, and charitable organizations. As of December 31, 2025, the firm reported approximately $317,668,456 in assets under management across 948 accounts and is led by two principal owners who hold the CFP designation.

The firm’s investment approach emphasizes strategic asset allocation and fundamental analysis, drawing on third‑party research sources such as Morningstar and the Schwab institutional platform, and most client assets are managed on a discretionary basis. Legacy routinely works with Private Money Managers and may implement strategies that include margin/borrowing, futures, and options; accounts are monitored at least quarterly.

Notable disclosures in the brochure that differ from many peers include that certain advisors maintain licenses to sell life and long‑term care insurance and may receive commissions or trailing commissions on insurance products, a potential conflict the firm acknowledges and mitigates through fiduciary duties and disclosure. The firm also highlights its use of outside research and private manager selection alongside fee‑based AUM management, and it discloses the use of borrowing/margin in managed accounts and related risks.

Client services

Financial planning Portfolio management Insurance & estate planning

Expertise

General estate planning guidance General retirement planning College savings (529s, UTMA, etc.)

Fee options

Percentage

0.70% - 1.25% (negotiable depending on scope and extent of services and asset value)

Commissions

Legacy may receive commissions from sales of life and long-term care insurance products sold by its licensed advisors.

Other

Account minimum: $500,000 of investable assets per household (may be waived in certain instances)

Main office location

Legacy Financial Advisors Corporation

3500 American Blvd West, Suite 675

Bloomington MN 55431, United States

Number of offices

Most active in

Florida · Illinois · Minnesota · Texas · Wisconsin

Disclosures

Business activities & affiliations

Is active or affiliated with:

Insurance agent

They sell insurance products and may earn commissions on those sales.

Is not active or affiliated with:

Broker-dealer / trader

They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.

Bank

They're affiliated with a bank that may offer its own financial products and services.

Trust company

They provide trust and estate administration services, typically for separate fees.

Fund sponsor

They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.

Accountant / CPA / tax prep

They offer tax and accounting services, typically for separate fees.

Lawyer

They provide legal services, typically billed separately.

Real estate agent

They facilitate real estate transactions and may earn commissions.

Other specialized services

They may provide services such as pension consulting or municipal advisory work, typically for separate fees.

Forms ADV

Form ADV Part 2: Client Brochure Form ADV Part 3: Client Relationship

Quick links

LinkedIn Website 952-893-5555

Advisors at this firm

Laura B

CFP®

Bloomington, MN

Legacy Financial Advisors Corporation

Laura Biermann is a CFP® professional with 21 years at Legacy Financial Advisors Corporation and nine years of industry experience. She is based in Bloomington, MN, and is also licensed as an insurance agent, dedicating part of her time to the sale of various insurance products. Legacy Financial Advisors Corporation, founded in 1996, provides portfolio and wealth management, private money manager selection, and financial, retirement, and estate planning services to individuals, family trusts, and charitable organizations. The firm emphasizes strategic asset allocation and fundamental analysis, managing most client assets on a discretionary basis.

General estate planning guidance General retirement planning College savings (529s, UTMA, etc.)

Thomas M

CFP®, Series 63

Bloomington, MN

Legacy Financial Advisors Corporation

Thomas Menzel is a CFP® professional with 12 years of industry experience, currently serving at Legacy Financial Advisors Corporation in Bloomington, MN. He holds the Series 63 designation and has been associated with Legacy Financial Advisors Corporation since 1996. In addition to his advisory role, he is licensed as an insurance agent and sells various insurance products. Legacy Financial Advisors Corporation is a wealth-management firm that provides portfolio and wealth management, private money manager selection, and financial, retirement, and estate planning services to individuals, family trusts, and charitable organizations. The firm emphasizes strategic asset allocation and fundamental analysis, managing most client assets on a discretionary basis.

General estate planning guidance General retirement planning College savings (529s, UTMA, etc.)

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