Asset Management

With a focus on long-term wealth preservation, Legacy is a firm believer in the importance of asset allocation. By adhering to our asset allocation models, Legacy positions trusts to outperform over the long term. As an open architecture firm, Legacy has partnered with best-in-class managers to provide a diverse array of investment options in both the public and private markets. It is this belief in diversification that supports our firm’s focus on preserving your family’s financial legacy.

As a trustee and partner, Legacy can assume full or shared responsibility for guiding the financial futures of our clients. We offer a full range of fiduciary services for clients with trusts and estates. From investment management to discretionary spending decisions, Legacy is here to establish a firm foundation and walk hand-in-hand with our clients as their lives, needs, and plans develop and change. 

Asset Management Philosophy

Asset Allocation: Diversified asset allocation is the foundation of a long-term financial program. We work with our clients to incorporate their specific needs and situations into their portfolio construction. Asset allocations are customized by return and liquidity needs within appropriate risk-adjusted parameters. We incorporate long-term client goals, tax consequences, and income growth into a cohesive and secure investment strategy. We offer a transparent, open-architecture platform and build portfolios with a blend of unique, active managers and cost-effective, passive strategies in an effort to provide appropriate market returns with the possibility of sustained outperformance. Our investment team is always available to answer client questions and review allocations.

Growth through Diversification: We believe that diversified growth is key to wealth preservation. A diverse portfolio enhances return at a given level of risk ensuring that family wealth continues to grow in order to meet ongoing income needs even after considering the impact of inflation and taxes.

Outside Investment Advisors: We engage third-party, active managers that employ an approach we feel may outperform passive strategies over time. Our financial resources enable us to identify and retain premier money managers at low costs to our clients. Legacy’s first priority is the performance of our clients’ portfolios, not our profitability.

Alternative Investments: We believe that investments in private equity, real estate, and private credit can be very beneficial for accounts of sufficient size and duration. Alternatives can offer attractive income generation and unique long-term capital appreciation opportunities that are difficult to find in public markets. We tailor alternative investments toward the growth goals, as well as, the specific needs of our clients.

“Our disciplined approach to diversification coupled with our flexibility to meet the needs of each family drives our commitment to the families we serve.” – Steve C. Sprengnether, CFA, CAIA

Current Investments

We diversify client portfolios across asset classes and styles using third party active and passive managers to invest accounts according to their objectives. We dynamically adjust allocations and managers depending on client investment objectives and market factors. 

Current Investments by Asset Class

Equity Styles

• Large Cap Core
• Large Cap Value
• Large Cap Growth
• Small-Mid Cap
• Technology
• International Developed
• International Emerging

Fixed Income Styles

• Tax-Exempt
• Taxable
  

Alternative Assets

• Real Estate
• Private Equity
• Private Credit
• Energy
• Distressed/Special Situations

Other Investment Services

Legacy clients often hold unique assets such as farms, ranches, or oil and gas interests. Our deep experience with private assets enables us to manage such idiosyncratic assets and successfully incorporate them into a wider portfolio management context. We also recognize that clients may be presented with proprietary investment opportunities outside of Legacy. Our investment team is ready and available to assist with screening and due diligence across a wide range of asset types as an additional service to our families. In terms of day-to-day portfolio monitoring, clients have secure, online access that enables them to view recent and pending transactions, and account balances by asset class.

Responsible Investment Practices

Legacy works with best-in-class external investment advisers who integrate Responsible Investment and Environmental, Social, and Governance (ESG) best practices into their strategies. Most of our external advisors employ an ESG Integration approach, which ensures that ESG criteria are actively and thoughtfully incorporated into investment analysis. Sustainable business practices, environmental footprint, diversity and inclusion, and workforce relations are key ESG criteria that our managers incorporate into their analysis. Our investment team is happy to discuss the details of how ESG best practices are integrated into our client portfolios. There are a wide array of responsible, sustainable, and ESG integrated strategies that can be tailored upon client request.