My Legacy Advisors, LLC (Hopkins)

Name: My Legacy Advisors, LLC
Address: 6 10 Th Ave N, Hopkins, MN, 55343
Telephone: 952-474-6933

My Legacy Advisors, LLC is a large advisory firm based in Hopkins. It manages $238.51 million of regulatory assets for 965 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of California, Florida, Minnesota, and 4 other states.

My Legacy Advisors provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for approximately 638 clients. On top of advisory services, the firm doesn't engage in other business activities.

My Legacy Advisors: assets under management

The assets under management (AUM) of My Legacy Advisors, LLC is $238.51 million. The firm's AUM has grown by 5% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $237.15 million in discretionary accounts and $1.36 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $248.84 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $113.12 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 85% of the total AUM. The second-largest asset type is exchange traded securities, which make up 6% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay My Legacy Advisors, 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 My Legacy Advisors serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of My Legacy Advisors is individuals with 557 clients and $173.5 million of assets under management. Among the 10 most similar advisory firms, My Legacy Advisors has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $238.51 million for 638 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.

My Legacy Advisors doesn't advise any private funds.

Careers at My Legacy Advisors, LLC

The company employs 13 people that are either part- or full-time employees. 54 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone 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
Inc. Munkeby Financial	Owner	1 Sep 2017	50% - 75%	41-1857439
Inc. Eagle Wealth Management	Owner	1 Sep 2017	50% - 75%	26-4804997
Eric Jon Munkeby	Chief compliance officer/member	1 Sep 2017	Other	2117283
Kenneth John Kramer	Managing member	1 Sep 2017	Other	2822605
Chad Everett Staskal	Member	1 Sep 2017	Other	2921706
Cambrianne Staskal	Officer	1 Sep 2017	Other	4798208
Michael Anthony Derosa	Chief compliance officer	1 Apr 2019	Other	4079942

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Eric Jon Munkeby	Owner	1 Feb 1997	50% - 75%	2117283
Kenneth John Kramer	Owner	1 Feb 1997	50% - 75%	2822605
Chad Everett Staskal	Owner	1 Apr 2009	50% - 75%	2921706
Cambrianne Staskal	Owner	1 Apr 2009	25% - 50%	4798208

Based in Hopkins

The principal office where My Legacy Advisors, LLC performs its advisory services is located at 6 10 Th Ave N, Hopkins, MN 55343, which is also the mailing address of the firm. An additional office of the firm is in Bend, OR. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 952-474-6933 or by fax 952-474-2789. The normal business hours are 8:30 a.m. - 4:30 p.m. on Monday - Friday. You can find more information about the New York firm at mylegacyadvisors.com/.