The first predecessor to Legacy Wealth Planning was a financial planning firm which was started in 1988. We had five advisors with support staff and provided financial planning and fee-based asset management services.
One strategic step in our evolution toward Legacy Wealth Planning was the creation of Legacy Trust Company, chartered in the State of Kansas as the first "advisor owned" independent trust company in 1997. The motivation for its formation was lower cost structures for the client, the ability to use common trust funds to implement a "Yale" style investment portfolio and an organization to deliver inter-generational planning services.
After functioning as an independent trust company for approximately two years, it became obvious that a federal charter was needed to do multi-state Trust business. A new idea was born by Tom Bray, who at the time, was President of Legacy Trust Company. After more than two years of planning and work, National Advisors Trust Company, the first Federally chartered independent trust company owned by registered investment advisory firms, was granted its charter in 2001.
We remain today as the founding firm and one of the Registered Investment Advisory firms that own National Advisors Trust Company.