Investment Management
Complimentary Portfolio Review
A second opinion on your portfolio, from a fiduciary who cannot sell you anything.
We are a fee-only Registered Investment Advisor in Overland Park, Kansas. We earn no commissions and no product compensation, so a review from us is an analysis, not a sales appointment.
Conducted by our Chief Investment Officer. No obligation, and no follow-up sales calls.
The 2026 Portfolio Review Program
We are setting aside time for a small number of in-depth reviews conducted personally by our Chief Investment Officer, using the same analysis and the same process we use for our own clients.
- Portfolio size. At least $500,000 in investable assets, so there is enough in the portfolio to analyze meaningfully.
- Statements. Recent statements for the accounts you want reviewed, including any employer retirement plans.
- A real question. A rollover you are weighing, a retirement date you are targeting, or simply a portfolio you have never had a second set of eyes on.
- About two weeks. An intake conversation, our analysis, and then a meeting to walk you through what we found.
There is no cost and no obligation to become a client. We accept a limited number of reviews at a time so that each one receives the same depth of analysis. Meeting the criteria above does not guarantee acceptance, and we may decline where a review would not be useful to you.
Request your review ›Start here
What is a Registered Investment Advisor?
Before you hand anyone your statements, it is worth knowing what kind of firm you are talking to. The label on the business card matters less than the legal standard behind it.
A Registered Investment Advisor, usually shortened to RIA, is a firm that gives investment advice and is registered with the U.S. Securities and Exchange Commission or with state securities regulators. RIAs are governed by the Investment Advisers Act of 1940 and owe their clients a fiduciary duty, which means they are legally obligated to act in the client’s best interest.
That is a different standard from a broker or a registered representative, who may sell products that are merely suitable and who is often compensated by the product being sold. An independent, fee-only RIA adds another layer: the firm is paid only by its clients, receives no commissions or product revenue, and holds client assets at an independent custodian rather than in-house. Your advisor advises, and a separate institution safeguards the money.
Legacy Financial Strategies, LLC is an independent, fee-only RIA registered with the SEC. Our clients’ assets are primarily custodied at Charles Schwab. We are compensated only by our clients, and we accept no commissions, no revenue sharing, and no compensation from fund companies or product sponsors.
An independent, fee-only RIA
Held to a fiduciary standard at all times
Paid only by clients, typically a fee on assets managed
No proprietary products to sell and no sales quotas
Assets held at an independent custodian, separate from the advisor
Conflicts of interest disclosed in a public Form ADV
Questions worth asking anyone else
Are you a fiduciary at all times, or only in certain moments?
How, exactly, are you paid, and by whom?
Do you receive commissions, trails, or revenue sharing on what you recommend?
Who holds my money, and are they separate from your firm?
May I see your Form ADV and your Form CRS?
You do not have to take our word for any of this. Look us up yourself on the SEC’s public database at adviserinfo.sec.gov, or read Charles Schwab’s independent investor education on the RIA model at FindYourIndependentAdvisor.com. Checking is free, it takes about two minutes, and you should do it for every firm you consider.
What a portfolio review includes
Six questions we answer about your portfolio.
This is not a sales presentation with your account number typed into it. It is the same analysis we run for our own clients, delivered in plain language.
1
Is your allocation actually yours?
We compare your current mix of stocks, bonds, cash and alternatives against the risk your plan can support and the risk you are comfortable carrying. Those two numbers are often different, and portfolios tend to drift toward whichever one nobody is watching.
2
What are you actually paying?
We total the expense ratios, share-class costs, advisory fees and any product-level charges we can identify from your statements, then show you the all-in number. Many investors have never seen it added up in one place.
3
Are you diversified, or just holding a lot of things?
Owning twelve funds is not diversification if eight of them hold the same forty companies. We look at overlap, concentration and how much of your outcome depends on a single security, sector or manager.
4
Are your investments in the right accounts?
Asset location matters. We look at which holdings sit in taxable accounts versus IRAs and Roths, and whether moving them would reduce the tax drag on your return over time.
5
What will this cost you at tax time?
We flag embedded capital gains, capital-gain distributions, fund turnover and share classes that may be creating taxable income you never asked for.
6
Will it produce the income you need?
If retirement is near, we look at whether the portfolio can actually support the withdrawals your plan requires, and in what sequence those withdrawals should come.
What you leave with
A written summary of what we found, the specific items we would address and in what order, and an honest answer about whether you need to change anything at all. Sometimes the right answer is that your portfolio is in good shape. If that is what we find, that is what we will tell you.
Who conducts your review
Your review is done by our Chief Investment Officer, not handed to a junior analyst.
Chris Proctor leads the investment function at Legacy Financial Strategies and chairs the Investment Committee that meets monthly to discuss strategy, macroeconomic conditions and capital markets. He is the person who reviews our own clients’ portfolios, and he is the person who will review yours.
Certified Investment Management Analyst (CIMA). A credential focused specifically on portfolio construction, asset allocation and investment consulting.
Over 25 years of investment experience. A 1995 graduate of Kansas State University with a degree in accounting, Chris also holds a Certificate in Financial Planning from UMKC and completed the CIMA® certification program at the University of Chicago Booth School of Business.
Chairs our Investment Committee. Monthly strategy and market discussion, with formal quarterly review of performance, peer-group rankings and consistency.
Author of our quarterly market commentary. His running read on markets, valuations and what they mean for long-term investors is published in our Market Commentary.
Certified Investment Management Analyst (CIMA). A credential focused specifically on portfolio construction, asset allocation and investment consulting.
Chris Proctor, CIMA
Chief Investment Officer
“Most of the portfolios I review were not built badly. They were built one decision at a time, years apart, by people doing their best with what they knew then. My job is to look at the whole thing at once and ask what it is actually doing. Usually the answer is not quite what anyone intended, and usually the fix is smaller than people fear.”
How we think about portfolios
A portfolio should work as one coordinated strategy.
These four principles shape every review we conduct and every portfolio we manage.
01
Risk management
Periodic rebalancing helps keep a portfolio aligned with its intended risk and return objectives.
02
Expense management
We favor low-cost ETFs, institutionally priced mutual funds and other cost-conscious solutions when appropriate.
03
Tax management
We distinguish between tax-sensitive and non-tax-sensitive accounts and coordinate investment placement accordingly.
04
Income planning
We evaluate dividends, bonds and withdrawals based on their role in retirement income and after-tax return.
Questions
Everything you might reasonably want to ask first.
If your question is not here, call us and ask it. We would rather answer it now than have it sit in the back of your mind.
What does a portfolio review actually cost?
Nothing. There is no fee for the review and no obligation to become a client afterward. We offer it because a meaningful number of the people who go through it decide they want to work with us, and because the ones who do not still leave better informed.
Is this just a sales pitch in disguise?
We are a fee-only firm, which means we cannot earn a commission on anything, because there is nothing for us to sell. We have no products, no insurance contracts and no proprietary funds. If your portfolio is well built, we will tell you so and you will hear nothing further from us unless you reach out.
We will, at the end, tell you what working with us would look like and what it would cost. That is a conversation, not a condition.
Do I have to move my accounts to get the review?
No. We review your statements. Nothing transfers, nothing is opened, and we do not need trading authority or account access to conduct the analysis.
What information do I need to provide?
Recent statements for the accounts you want reviewed, including brokerage accounts, IRAs, Roth IRAs and employer retirement plans such as a 401(k) or 403(b). If you have a financial plan or an investment policy statement from another advisor, bring that too.
We will send you a secure upload link. Please do not email statements as ordinary attachments.
How long does it take?
About two weeks from the time we receive your statements. That covers a short intake conversation, the analysis itself, and a meeting of roughly an hour to walk you through what we found. The meeting can be in our Overland Park office or by video.
Why is there a minimum portfolio size?
Because below a certain size there is not enough in the portfolio for the analysis to tell you much that is useful. Asset location, tax-loss harvesting and share-class review all need a certain amount of complexity before they produce meaningful findings.
If you are below that threshold, we would still like to hear from you. Legacy Next is our service designed specifically for people building toward that point.
Will you tell me my current advisor is doing a bad job?
Only if the evidence says so, and we will show you the evidence rather than the opinion. Plenty of the portfolios we review are sound, and we say that plainly when it is true. What we will always do is show you the costs, the conflicts and the tax consequences we find, and let you draw your own conclusion.
How is my information protected?
Statements are submitted through a secure portal, stored under the same safeguards we apply to client records, and never sold or shared with third parties. Our privacy policy is available on this site. If you decide not to move forward, you can ask us to delete what you sent and we will.
Why are you limiting the number of reviews?
Because our Chief Investment Officer conducts them personally and also has a firm’s worth of client portfolios to manage. Taking a small number at a time is the only way each review gets real attention rather than a template with your name on it. When the current group is full, we will say so here and you can ask to be notified when we open the next one.
How do I verify that Legacy is registered and in good standing?
Search for Legacy Financial Strategies, LLC on the SEC’s Investment Adviser Public Disclosure site at adviserinfo.sec.gov. You will find our Form ADV, which discloses our services, our fees, our conflicts of interest and any disciplinary history. You can run the same search on any firm you are considering, and you should.
Request your review
Find out what your portfolio looks like to a fiduciary.
Tell us a little about your situation and we will let you know within two business days whether a review makes sense. If it does not, we will tell you that too, and point you somewhere more useful.
Please do not include account numbers, Social Security numbers or statements in this form.
