Legacy Wealth Planning, LLC (Reno)

Name: Legacy Wealth Planning, LLC
Address: 10599 Double R Blvd, Reno, NV, 89521
Telephone: 775-850-2500

Legacy Wealth Planning, LLC is a large advisory firm based in Reno. It manages $263.7 million of regulatory assets for 756 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of California, Massachusetts, Nevada, and Texas.

Legacy Wealth Planning provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Legacy Wealth Planning: assets under management

The assets under management (AUM) of Legacy Wealth Planning, LLC is $263.7 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 21% since the beginning of its operation, and $160 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $263.7 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $348.81 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 46% of the total AUM. The second-largest asset type is investment and business development companies, which make up 41% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Legacy Wealth Planning, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Wealth Planning serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Legacy Wealth Planning is high net worth individuals with 117 clients and $150 million of assets under management. Among the 8 most similar advisory firms, Legacy Wealth Planning has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $262.53 million for 752 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Legacy Wealth Planning doesn't advise any private funds.

Careers at Legacy Wealth Planning, LLC

The company employs 10 people that are either part- or full-time employees. 70 percent of the employees work as investment advisers or researchers. 9 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Phillip Stephen Mahoney	Managing partner/ chief compliance officer	1 Mar 2006	25% - 50%	1482774
Mark Levy	Managing partner	1 Mar 2006	25% - 50%	1347182
Martin Major Mcclellan	Managing partner	1 Mar 2006	25% - 50%	1999947
Christopher Eric Vargas	Managing partner	1 Mar 2006	25% - 50%	3150682

Based in Reno

The principal office where Legacy Wealth Planning, LLC performs its advisory services is located at 10599 Double R Blvd, Reno, NV 89521, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 775-850-2500 or by fax 775-850-2505. The normal business hours are fri 6:30 - 3 on Other. You can find more information about the New York firm at lwpreno.com.