The Legacy Financial Group, Inc. (Tulsa)

Name: The Legacy Financial Group, Inc.
Address: 2508 E 21 St Street, Tulsa, OK, 74114
Telephone: 918-665-0826

The Legacy Financial Group, Inc. is a large advisory firm based in Tulsa. It manages $266 million of regulatory assets for 1,564 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Arkansas, California, Kansas, and 3 other states.

The Legacy Financial Group provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for approximately 600 clients. On top of advisory services, the firm doesn't engage in other business activities.

The Legacy Financial Group: assets under management

The assets under management (AUM) of The Legacy Financial Group, Inc. is $266 million. The firm's AUM has grown by 173% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $254 million in discretionary accounts and $12 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $168.88 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $200 thousand.

The Legacy Financial Group has custody of $3.39 million in cash and securities for 11 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 86% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 7% of the firm’s portfolio. Investments in exchange traded securities form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay The Legacy Financial Group, Inc. for their services and products based on a percentage of assets under management 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 Mark Leonard Springer serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Mark Leonard Springer is high net worth individuals with 456 clients and $234 million of assets under management. Among the 8 most similar advisory firms, The Legacy Financial Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $266 million for 1,564 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.

The Legacy Financial Group doesn't advise any private funds.

Careers at The Legacy Financial Group, Inc.

The company employs 9 people that are either part- or full-time employees. 89 percent of the employees work as investment advisers or researchers. 8 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.

Mark Leonard Springer has been acting as President since 1 Apr 2005. Gery Joseph Sadzewicz joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Randall Joe Cloud	Chief compliance officer and shareholder	1 Apr 2005	25% - 50%	4498341
Kevin Kyle King	Shareholder	1 Apr 2005	25% - 50%	4498340
Mark Leonard Springer	Chief compliance officer/president	1 Apr 2005	Other	3168431
Terry Lee Bryan	Shareholder	1 Apr 2005	Other	4489984
William Paul Stitt	Shareholder	1 Apr 2005	Other	2301001
Harvey Lewis Little	Shareholder	1 Apr 2005	Other	4489985
Jim Wiley Littleton	Shareholder	1 Apr 2005	Other	4489986
Kendall Wayne King	Shareholder	1 Jan 2008	Other	4449600
Jeffrey Lyle Maxwell	Shareholder	1 Jun 2009	25% - 50%	4578335
Randall Joe Cloud	Chief compliance officer	1 Jun 2009	25% - 50%	4498341
Douglas Keith Scott	Chief compliance officer	1 Jan 2017	Other	2301806
Gery Joseph Sadzewicz	Chief compliance officer	1 Aug 2019	Other	1090963

Based in Tulsa

The principal office where The Legacy Financial Group, Inc. performs its advisory services is located at 2508 E 21 St Street, Tulsa, OK 74114, 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 918-665-0826 or by fax 918-933-4393. The normal business hours are 8:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at legacyadvisor.net.