New Legacy Group, LLC (New York)

Name: New Legacy Group, LLC
Address: 275 Madison Ave, New York, NY, 10016
Telephone: 212-616-8020

New Legacy Group, LLC is a large advisory firm based in New York. It manages $216.34 million of regulatory assets for 22 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdiction of New York.

New Legacy Group provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

New Legacy Group: assets under management

The assets under management (AUM) of New Legacy Group, LLC is $216.34 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 233% since the beginning of its operation, and $38.84 million of the total AUM is attributable to clients outside of the United States.

The firm manages $216.34 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $9.83 million each.

Investments

The firm invests in pooled investment vehicles the most. They account for 34% of the total AUM. The second-largest asset type is investment and business development companies, which make up 31% of the firm’s portfolio. Investments in cash and cash equivalents form 28% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay New Legacy Group, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based 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 New Legacy Group serves?

The firm provides services to high net worth individuals and pooled investment vehicles. The largest group of clients of New Legacy Group is pooled investment vehicles with 13 clients and $110.4 million of assets under management. Among the 8 most similar advisory firms, New Legacy Group has the highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $216.34 million for 22 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 5% of the firm’s clients are foreign persons or businesses.

New Legacy Group also advises several private funds. Namely, nine other private funds and two venture capital funds. The minimum investment commitment required of non-related persons ranges from $0 to $1,000,000.

Careers at New Legacy Group, LLC

The company employs 10 people that are either part- or full-time employees. 80 percent of the employees work as investment advisers or researchers. No 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.

2012 Weilgus Family Delaware Trust joined the executive team most recently as the Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Adam Lee Geiger	President and chief compliance officer of registrant and relying advisers	1 Nov 2009	50% - 75%	1227803
Joseph Michael Weilgus	Chief executive officer	1 Nov 2009	Other	6021512
2012 Weilgus Family Delaware Trust	Member	1 Aug 2012	50% - 75%	xxx-xx-xxxx

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Joseph Michael Weilgus	Sole owner	1 Aug 2012	75% - 100%	6021512

Based in New York

The principal office where New Legacy Group, LLC performs its advisory services is located at 275 Madison Ave, New York, NY 10016, 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 212-616-8020. The normal business hours are 9:00 a.m. - 6:00 p.m. on Monday - Friday. You can find more information about the New York firm at newlegacy.com/.