WHAT LEGEND DOES
Legend Financial Advisors, Inc.® (Legend) is a Fee-OnlyxThe National Association of Personal Financial Advisors (NAPFA) Defines a Fee-Only Financial Advisor as One Who is Compensated Solely by the Client with Neither the Advisor nor any Related Party Receiving Compensation that is Contingent on the Purchase or Sale of a Financial Product. Neither Advisors or their Firms May Receive Commissions, Rebates, Awards, Finder’s Fees, Bonuses or Other Forms of Compensation from Others as a Result of a Client’s Implementation of the Individual’s Planning Recommendations. "Fee-Offset" Arrangements, 12b-1 Fees, Insurance Rebates or Renewals and Wrap Fee Arrangements that are Transaction Based are Examples of Compensation Arrangements that Do Not Meet the NAPFA Definition of Fee-Only Practice.
Source: NAPFA.org, FiduciaryxThe Department of Labor’s Definition of a Fiduciary Demands that Advisors Act in the Best Interests of their Client, and to Put their Clients’ Interests Above their Own. It Leaves No Room for Advisors to Conceal any Potential Conflict of Interest, and States that all Fees and Commissions Must be Clearly Disclosed in Dollar Form to Clients.
Source: Investopedia U.S. Securities and Exchange Commission Registered Investment Advisory firm with its headquarters located in Pittsburgh, Pennsylvania. Legend provides personalized Wealth Management services including Financial Planning and Investment Management strategies to individuals and families, business entities, medical practices, and retirement plans.
Legend and its Advisors are governed by the FiduciaryxThe Department of Labor’s Definition of a Fiduciary Demands that Advisors Act in the Best Interests of their Client, and to Put their Clients’ Interests Above their Own. It Leaves No Room for Advisors to Conceal any Potential Conflict of Interest, and States that all Fees and Commissions Must be Clearly Disclosed in Dollar Form to Clients.
Source: Investopedia Standard of Law. As a FiduciaryxThe Department of Labor’s Definition of a Fiduciary Demands that Advisors Act in the Best Interests of their Client, and to Put their Clients’ Interests Above their Own. It Leaves No Room for Advisors to Conceal any Potential Conflict of Interest, and States that all Fees and Commissions Must be Clearly Disclosed in Dollar Form to Clients.
Source: Investopedia, Legend always works in their clients’ best interests.
FACTS ABOUT LEGEND’S HISTORY
- Legend was Incorporated on July 26, 1993 as a Pennsylvania Corporation.
- It was Granted Registration as an Investment Advisor on September 14, 1993 by the U.S. Securities and Exchange Commission.
- Legend was Granted Registration as an Investment Advisor on January 6, 1994 by the Pennsylvania Securities Commission.
- Legend Formally Began Operations on January 10, 1994.
- The Firm is Independent and 100% Employee-Owned.
LEGEND’S WEALTH MANAGEMENT ADVISORY SERVICES
- Personal Investment Management and/or Investment Consulting
- Personal Financial Planning (Available Only if Legend is Retained for Investment Services)
- Retirement Plan Investment Management and/or Investment Consulting
- Non-Profit Organization Investment Management and/or Investment Consulting
- Business, Dental or Medical Practice Financial Planning
Legend’s Advisory Team Recognizes that Along with a Client’s Financial Success Increased Responsibilities and Complexity Follows. Legend Can Assist Its Clients in Understanding the Critical Interdependencies Among Investments, Income and Estate Taxes, Income for Retirement as well as Business Counseling and Philanthropic Decision-Making. Clients Have Unique Wide-Ranging Financial Needs and Goals that Change Over Time to Which Personalized State-Of-The-Art Planning and Investing Solutions will be Created that Result in Short-Term as well as Long-Term Benefits.
LEGEND’S PERSONALIZED WEALTH MANAGEMENT SERVICES
Clients Who Utilize Legend’s Personalized Wealth Management Services are Typically Seeking Unbiased Advice with Tailored Recommendations, Improved After-Tax Results Especially with Regard to Investments, Assistance with the Transfer Of Wealth to the Next Generation, Protection of Client Wealth, and Reduction of Time Spent Overseeing Client Affairs and Assistance with Coordinating Their Financial Matters Among a Multitude of Other Financial Professionals.
Legend Takes Pride in Addressing Each Client’s Situation on an Individual Basis. This Includes Committing to Establishing Trust, Respect, and a Lasting Partnership with Clients. Long-Term Client Relationships as Advisors, Partners, and in Many Cases Friends are Deeply Valued.
HOW LEGEND DIFFERS FROM ITS COMPETITION
Legend Differs from Its Competitors by Working as a Team for its Clients, Providing Personalized Attention Every Step of the Way. In Most Firms, Each Advisor has His or Her Own Set of Clients. While Any Two Advisors in Those Firms May Operate in a Somewhat Similar Manner, Clients Almost Always Receive Two Different Levels of Service as well as Quality of Advice. At Legend, All Clients are Firm Clients and are Counseled in the Same Manner and Receive the Same High-Quality Level of Advice and Hands-On, Courteous Service. Each of Legend’s Advisory Team Members Work on the Clients’ Behalf in a Concerted Manner, Thereby Ensuring the Quality of Advice and Level of Service Being Provided.
Also, Legend Assists Its Clients with the Time-Consuming Task of Managing their Financial Affairs Among Multiple Financial Professionals in the Fields of Accounting, Banking, Insurance and/or Legal Matters. If a Client Does Not Work with a Financial Professional in a Specific Area, Legend will Refer Prescreened Professionals Who Can Assist in That Specialty.
Legend Further Differs from Competitors in that Personalized Solutions are Created for Its Clients.
For Example, at Most Competitor Firms, an Investment Asset with Low Cost Basis Often Would be Sold Regardless of Income Tax Ramifications and Generally Without a Discussion with the Client.
At Legend, an Analysis of all Client Investment Securities as well as the Applicable Income Tax Ramifications of Each Position Would First Take Place and Then be Discussed at Length with the Client. A Tax-Efficient Investment Strategy Would Then be Developed and Agreed Upon. If a Particular Security No Longer Fits the Portfolio, a Strategy Would be Developed to Liquidate it if Income Taxes can be Minimized.
Legend Constantly Searches for New Investment Management Strategies to Potentially Maximize Clients’ Results. Furthermore, Income Tax Efficiency Both from an Investment Standpoint as well as the Asset Location (Either Inside or Outside of an IRA or Retirement Account) is Continually Reassessed.
THREE REASONS TO CHOOSE LEGEND
- Legend and their financial advisors owe a fiduciary duty to their clients. The fiduciary duty is a high standard, and requires Legend to act solely in the best interest of their clients.
- Legend designs dynamic, creative and personalized financial planning and investment solutions for their clients.
- Legend emphasizes low-cost investments where possible that are allocated and traded in an income tax-efficient manner.
LEGEND’S MISSION STATEMENT
Legend’s Mission is to Achieve an Unequaled Standard of Excellence in the Financial Advisory Profession by Providing Personalized Value-Added Services to Clients Thereby Becoming Indispensable by Assisting Them in Making Informed, Intelligent Financial Decisions so that They Can Spend Their Time Focusing on Matters That Mean the Most to Them. A Client’s Peace of Mind is Our Greatest Reward.
Legend’s Fee-Only And Transactions Disclosure:
1Legend Financial Advisors, Inc.® (Legend) is a Fee-Only Advisory Firm. Fee-Only Means Legend Never Receives Any Commissions.
Legend’s Clients Will Not Pay (a) a Transaction Fee (also Known as a Trading Fee or Commission) for Exchange-Traded Funds (ETF’s) and/or Exchange-Traded Notes (ETN’s) as well as Exchange-Traded Equities through Virtually All Custodians that Legend Utilizes. However, Open-End Mutual Fund Trading Fees Are Charged by Custodians.
Legend will Trade Open-End Mutual Funds, Usually an Institutional Share Class, if available, on Behalf of the Client, Through a Few Non-Related Institutional Custodians.
An Institutional Share Class of an Open-End Mutual Fund is Usually the Lowest Cost Share Class with Regard to the Expenses it Charges. Therefore, Legend Utilizes No-Load, Institutional Cost, Share Classes of Open-End Mutual Funds Due to its Desire to Reduce its Clients’ Investment Costs. In Fact, Legend’s Clients Only Pay a Small Transaction Fee for Institutional Mutual Fund Trades to the Custodian (Also Known as a Trading Fee or Commission).
Legend Never Receives any Portion of Such Fees/Commissions.
- Please Note Certain Custodians that Legend May Use to Accommodate Certain Clients May Charge a Very Small Transaction Fee.