Legacy Financial

What Legacy Financial does

Legacy Financial, LLC is a privately held wealth advisory practice founded in 2004 by Chad D. Ericson and headquartered in Akron, Iowa. The firm serves high net worth individuals and families across the upper Midwest through 28 offices and a team of 51 financial advisers and over 60 support professionals. Its service stack spans investment advisory (delivered through RDA Financial Network, a registered investment advisor), securities brokerage (through United Planners Financial Services, member FINRA/SIPC), financial planning, and insurance products, with account access provided through integrations with Charles Schwab, American Funds, Jackson, and Orion planning tools.

The firm operates on a multi-revenue-stream model: asset-based advisory fees via RDA Financial Network, securities commissions as registered representatives of United Planners, and insurance commissions on fixed insurance products. Pricing is not publicly disclosed; fiduciary advisory fees are quoted individually based on client assets and service requirements. The technology stack is entirely third-party — there is no proprietary platform — with Orion providing advisor planning tools and Charles Schwab providing custody and client portal infrastructure. Distribution is primarily regional via face-to-face advisory relationships, supplemented by content marketing, SEO-driven educational resources, and email newsletters for top-of-funnel prospect engagement.

The practice is founder-led and owner-operated, with no external parent, private equity backing, or institutional investment identified. Leadership comprises Chad D. Ericson (President, founder since 2004, AIF designation), Gregory G. Giles (Vice President, J.D., 2017), Michael A. Brannen (Chief Compliance Officer, 2020), Hollie St. Pierre (Operations Manager), and Adam Ruden (Client Service Executive). The firm was recognized by Forbes as a Best-in-State Wealth Management Team in January 2026.

Name

Legacy Financial

Legal name

Legacy Financial, LLC

Website

https://legacyfinancialllc.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

Legacy Financial is a privately held wealth advisory practice founded in 2004 that serves high net worth individuals and families across the upper Midwest through 28 offices and 51 financial advisers, delivering investment advisory, securities brokerage, financial planning, and insurance services.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Trusts, Estates, and Agency Accounts (52592)

SIC

Investment Advice (6282)

akta.pro primary industry

Estate & Legacy Planning Advisory (FSAEAAAG)

Keywords

• Investment advisory services
• Wealth management services
• Financial planning services
• Private wealth advisory
• Retirement planning

Headquarters

HQ city

Akron

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Asset-Based Advisory Fees: Legacy Financial advisors are paid an asset-based fee through RDA Financial Network, aligning advisor interests with client outcomes. Clients pay fees based on assets under management rather than transaction commissions in advisory accounts.
2. Securities Commissions: As registered representatives of United Planners Financial Services, advisors earn commissions on securities and investment product sales including mutual funds and variable annuities through brokerage accounts separate from advisory accounts.
3. Insurance Commissions: Advisors are licensed insurance agents earning commissions on fixed insurance product sales in states where they hold licenses.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Legacy Financial operates as a private wealth advisory practice delivering fiduciary investment advisory services through RDA Financial Network on an asset-based fee model, complemented by securities brokerage through United Planners Financial Services. The firm provides comprehensive financial planning covering retirement, estate, tax, and insurance planning for high-net-worth individuals and families across 28 offices in the upper Midwest.

Product overview

Legacy Financial operates as a multi-service wealth management and financial advisory firm. The core offering is investment advisory services delivered through RDA Financial Network (a registered investment advisor), complemented by securities brokerage through United Planners Financial Services (a broker-dealer). The firm also offers financial planning and insurance products as integrated services. Account access is provided through integrations with Charles Schwab, American Funds, Jackson, and Orion platforms. The firm is led by five team members and serves clients primarily across Iowa, Ohio, and Minnesota, with Chad Ericson as President and Owner, Gregory Giles as Vice President, Michael Anne Brannen as Chief Compliance Officer, Hollie St. Pierre as Operations Manager, and Adam Ruden as Client Service Executive.

Differentiator

Problem solved

Functional benefit

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Partnerships

Three partnerships are on record, tiered core.

• United Planners Financial ServicescoreChannel Partner/ Reseller/ DistributorSecurities offered through United Planners Financial Services, member FINRA/SIPC. Legacy Financial advisors serve as registered representatives of United Planners for brokerage accounts and securities transactions.
• RDA Financial NetworkcoreStrategic or Co-development PartnerAdvisory services offered through RDA Financial Network, a registered investment advisor. Legacy Financial does business as Legacy Financial LLC under RDA Financial Network. RDA Financial Network provides the RIA platform and compliance infrastructure.
• Charles SchwabcoreTechnology or IntegrationClient Portal access provided through Charles Schwab platform for account access and management. Primary custodian for client investment accounts.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Emerging players

• Carson Group: Fast-growing RIA consolidator supporting affiliated advisor teams through coaching, technology, and compliance infrastructure — comparable as an emerging aggregator target for Legacy-type regional practices.
• Wealth Enhancement Group: Acquisitive RIA platform aggregating regional advisory practices in the Midwest and beyond — comparable both as a roll-up peer and as a potential exit/partner channel for Legacy's affiliated offices.

Broad incumbents

• Northwestern Mutual: Large U.S. wealth/insurance/annuity franchise with deep Midwest penetration — comparable in hybrid wealth+insurance revenue model and advisor-led HNW relationship model.
• Cetera Financial Group: Large independent advisor network offering IBD, RIA, and custodial infrastructure — comparable as a parent platform for the type of affiliated advisor model Legacy Financial operates under RDA.
• Kestra Financial: Independent wealth platform providing IBD and RIA infrastructure to affiliated advisor practices — comparable mid-sized platform alternative to RDA/United Planners for Legacy-like practices.
• Raymond James Financial Services: Wealth management division of Raymond James providing IBD and corporate RIA services to affiliated advisors nationwide — comparable advisory platform scale, hybrid compensation, and HNW clientele.
• Cambridge Investment Research: Independent broker-dealer/RIA platform supporting affiliated advisors — directly relevant given Legacy's founder previously registered through Cambridge (2011–2016) and the firm mirrors the practice model it supported.
• LPL Financial: Largest U.S. independent broker-dealer/RIA platform supporting thousands of affiliated advisors — comparable as a scale platform layer for practices like Legacy with hybrid advisory/brokerage revenue.

Direct peers

• Ameriprise Financial: Operates the largest U.S. franchise advisor model offering investment advisory and financial planning through independent contractor advisors under a registered RIA/broker-dealer — directly comparable in franchise structure, multi-office Midwest footprint, and HNW client focus.
• Edward Jones: Large U.S. retail wealth advisory franchise with thousands of branch offices concentrated in the Midwest and serving mass-affluent to HNW households — comparable in face-to-face regional office model, fee+commission hybrid revenue, and client demographics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Legacy Financial