Financial Planners

Louis P. Stanasolovich, named one of the best financial advisers in America the last six years by Worth magazine, is founder, president and CEO of Legend Financial Advisors Inc.^®, a fee-only financial advisory firm located in the North Hills. 
Reach him at (412) 635-9210. The firm's Web address is www.legend-financial.com Email  legend@legend-financial.com
Legend Financial Advisors, Inc.^®
5700 Corporate Drive, Suite 350 
Pittsburgh, PA 15237-5829
Phone: (412) 635-9210       Fax:  (412) 635-9213

Wealth Management

Financial Services in Pittsburgh
LEGEND FINANCIAL ADVISORS, INC. ^®
WEALTH ADVISORY SERVICES BASED ON THE FEE ONLY FINANCIAL SERVICES MODEL

HOW TO CONTACT US
Our headquarters address is: Legend Financial Advisors, Inc.^® 5700 Corporate Drive, Suite 350 Pittsburgh, PA 15237-5829
Our telephone number is (412) 635-9210.
Our fax number is (412) 635-9213.
Our web site address is www.legend-financial.com .
Our e-mail address is legend@legend-financial.com..  

COMPANY HISTORY

Was founded by Louis P. Stanasolovich, Chief Executive Officer (CEO) and President
Incorporated July 26, 1993 as a Pennsylvania corporation
Was granted registration as an Investment Advisor on September 14, 1993 by the United States Securities and Exchange Commission
Was granted registration as an Investment Advisor on January 6, 1994 by the Pennsylvania Securities Commission
Formally began operations on January 10, 1994.  

ALPHA GROUP MEMBERSHIP 

Mr. Stanasolovich, President of Legend Financial Advisors, Inc., was one of the co-founders of The Alpha Group in September, 1990. The Alpha Group is an exclusive association comprised of 17 senior investment advi sors. All are principals of nationally-recognized independent investment management firms throughout the United States. Collectively, they manage more than $3.0 billion of client investments. The Alpha Group was founded to combine the unique professional investment management resources and talents of its individual members. The purpose of the group is to create a network of trusted peers in the investment management business who are willing to share proprietary information, methodology and technology of value to all members of the association. To accomplish this objective, the Alpha Group has established a regular system of communication among members, and with other leaders in money management, economic forecasting and securities analysis. Through this association, Alpha Group members can provide the most technically sophisticated, timely and innovative investment advisory services to their clients. Each Alpha Group member is a nationally-recognized speaker, author/commentator on investment issues, such as: Asset Allocation Portfolio Design Investment/Portfolio Management Risk Tolerance Investment Performance Evaluation Money Manager/Mutual Fund Evaluation ERISA Fiduciary Requirements Wealth Management.

WHAT WE DO 

Legend Financial Advisors, Inc., ("Legend"), is a fee-only Securities and Exchange Commission registered investment advisory firm, with headquarters located in Pittsburgh, Pennsylvania. Legend provides Wealth Advisory Services, including Comprehensive Financial Planning and Investment Management, to affluent and wealthy individuals as well as business entities. Our objective is to deliver customized financial advice that is unequaled in terms of quality from which the client can derive maximum value. Legend expects to achieve its objective by providing all firm members with extensive, ongoing internal and external education, by utilizing leading edge financial information, management, technology, hardware and software, by capitalizing on our extensive national and local networks of other financial professionals and by creating new services not offered by other financial planning/asset management firms that are of value to the client..  

ASSET MANAGEMENT 
Legend Financial Advisors, Inc. offers customized Investment Management Services to individuals and institutions. Investment portfolios are developed to match the client’s return and risk requirements, which are determined by the client’s completion of a Risk Tolerance Questionnaire, with the guidance of a Legend advisor. Each type of investment portfolio is managed to achieve both short and long-term investment objectives. We offer our services to a wide variety of clientele including:
High Net Worth Individuals
Individuals with Lump Sum Rollovers from Retirement Plans
Qualified Retirement Plans
Businesses
Charities
Trusts
Associations 

INVESTMENT PROCESS 

Investment Research
Legend performs extensive research as to how to structure investment portfolios. Emphasis is placed on developing portfolios that have historically achieved high returns, but with lower than normal risk. Legend’s sources of academic and institutional research include:
The University of Chicago
Stanford University
Princeton
Association of Investment Management & Research Sources of Current and Historic Worldwide Financial Market and Economic Data include:
Investment Newsletters, Newspapers, Periodicals, and Professional Journals
Portfolio Managers (Legend interviews in excess of 75 portfolio managers per year).  

Client Education 
Education is very important to us. Legend is dedicated to educating each client about the different investment portfolio types and how they relate to market volatility, time horizons, and investment returns. It is our goal to make sure that the client understands and agrees with our investment philosophy. Furthermore, we assist each client in selecting a risk tolerance level with which they are comfortable. Ultimately, an investment portfolio is designed to meet the client’s objectives.

Evaluating Us 
Asset management clients receive quarterly performance reports. A report details the portfolio performance during the client’s fiscal quarter, and provides a comparison against a number of indices. These performance reports, while providing detailed information, are easy to read and understand. 

Selection of Portfolio Managers At Legend, portfolio managers are selected first, then the investment vehicle. By constantly researching and identifying both the strong and weak characteristics of portfolio managers and their investment process, we assure that our clients are receiving the highest quality management talent. All portfolio managers that we recommend are screened using one on one interviews, followed with periodic conference calls. In addition to private account management, Legend is nationally known for our expertise in selecting mutual funds. Also, over the years, Legend has developed strong relationships within the mutual fund industry. As a result, Legend is able to leverage these relationships to benefit our clients. For example, our clients are provided access to institutional funds that normally carry $250,000 or more minimums. Also, our clients are offered no-load, also known as load-waived, funds that would otherwise carry a load. Furthermore, the institutional funds used by Legend maintain lower expense ratios. Finally, at times, Legend even provides access to funds that have been closed to new investors..  

MUTUAL FUND PORTFOLIOS Global Asset Allocation Legend believes that value in the various investment markets is the long-term determinant of asset prices and that misvaluations occur regularly, providing opportunity to enhance performance by active management. Legend blends different types of investments having various capitalization sizes (large and small) and investment styles (value and growth) within each asset class. Furthermore, Legend determines through the analysis of current and historic worldwide financial market and economic data which asset classes and investment styles are under-valued, fairly-valued and over-valued. Legend attempts to capitalize on these misvaluations by weighting higher percentages of the client’s portfolio to the investments that offer the greatest value. Part of our global asset allocation investment philosophy is to provide broad diversification by using a variety of different asset classes with low correlations to each other. Low correlations of return between asset classes and investment styles help to mitigate performance volatility, which in turn decreases risk while perhaps increasing return. The major asset classes used in our Multiple Asset Class Portfolio include the following:
Short-Term Domestic Debt (Fixed Income - maturities of 4 years or less)
Long-Term Domestic Debt (Fixed Income - maturities of 4 years or more)
Long-Term International Debt (Fixed Income - maturities of 4 years or more)
Domestic Equities
International Equities
Real Estate Equities
Other (Energy Securities, Precious Metals, Mergers and Acquisitions Arbitrage, Hedges, Venture Capital, etc.).

Lower Volatility Portfolios 
The Lower Volatility Portfolios consist of a number of different investment portfolios each designed to meet a specific client need. These portfolios are designed for those investors seeking steady returns, with significantly less volatility than the overall market. To meet this objective, portfolio simulation and quantitative analysis are used to screen potential investment opportunities. Many of the funds selected experience far less downward movement than the overall market. Our Lower Volatility Portfolios combine traditional funds with non-traditional funds that when combined historically have exhibited a weak correlation to the overall market. In each portfolio, each combination of funds is equally weighted and rebalanced annually.

Ultra-Speculative Portfolios 
Legend’s Ultra-Speculative Portfolios focus on buying high growth stocks, mutual funds, and to a lesser degree growth stocks that are, in effect, mutual funds. These high growth investments include not only such hot growth areas as the Internet, technology, biotechnology, and telecommunication companies, but also liquid venture capital, emerging market country companies, small developed country international stocks, and aggressive hedge type investments, among others. We call this option the "Ultra-Speculative Portfolio" because frequently the prices for these securities make little sense based upon traditional valuation methods. When in favor, these securities show a tendency to generate spectacular returns. However, potential losses on some of these securities could approach 60% or even more. We utilize predominantly mutual funds as the vehicle to acquire these types of securities, although at times, individual equities are used. The mutual funds used could be diversified funds, sector funds, index funds, and perhaps even leveraged funds..  

INDIVIDUAL EQUITY MANAGEMENT 
Legend has created a number of individual equity portfolios based upon different investment approaches. The portfolios are managed on a discretionary basis. Clients do not have the opportunity to provide input on each individual purchase, but are able to discuss, with a Legend advisor, the overall approach of the portfolio. The portfolios are as follows:

All Cap Earnings Momentum
Stocks selected are based upon positive earnings surprises as well as positive earnings estimate announcements. This portfolio is maintained by combining individual equities that provide both maximum long-term returns and equities that should outperform the market over the next 1-3 months. This combination makes the All Cap Earnings Momentum portfolio suitable for both long term and short-term investors. There are approximately 15-25 positions in the portfolio.

Tax-Managed Large-Cap Equity Management 
This portfolio is a conservative, low-risk value approach to investing in high-quality U.S. companies. The portfolios are fully invested and well-diversified across industry sectors. The goal is to identify and buy high-quality, attractively priced investments while adhering to a rigorous, disciplined investment process that is designed to provide superior risk/reward performance. There are approximately 30-40 positions in the portfolio. 

Tax-Managed Mid-Cap Equity Management 
This portfolio is an attractive alternative to small-cap equities. The focus is to invest in high-quality U.S. companies with a market cap generally between $1 billion to $10 billion. The portfolios are fully invested and well diversified across industry sectors. The goal is to identify and buy high-quality, attractively priced investments while adhering to a rigorous, disciplined investment process that is designed to provide superior risk/reward performance. There are approximately 50-60 positions in the portfolio..

HEDGE FUNDS AND VENTURE CAPITAL
Through Legend’s vast network of contacts within the financial community, we offer clients access to more sophisticated investment alternatives, such as hedge funds and venture capital. There is a general perception that hedge funds are dangerously high risk vehicles designed only for the elite. The majority of statistical and intellectual evidence suggest otherwise. Hedge funds exhibit inherent returns, which exists partly because there is excess profit to be earned from consistently dealing in the world’s capital and derivative markets on superior terms. Furthermore, these inherent returns are enhanced by another key attribute of the hedge fund structure; incentive based compensation. These alternative investment strategies are yet another way Legend offers customized investment solutions that add value to client portfolios..

Comprehensive Financial Planning Services

• After a client completes an extensive data questionnaire and delivers all relevant financial documents, Legend will develop a comprehensive financial plan. It will address the following areas:
  
• Preparation of financial statements
  
• Basic finance issues such as debt structure, liquidity and cash flow issues
  Investment strategy
  
• Tax reduction strategies
  
• Education funding
  
• Retirement accumulation and distribution planning
  
• Estate planning
  
• Survivor needs
  
• Risk management, including all insurance coverages
  
• Retirement plan compliance, if applicable
  
• Business planning, if applicable
  
• Medical practice planning, if applicable As part of the financial planning process, Legend develops specific recommendations addressing each of the above listed areas. During this first part of the process, the client will meet with a Legend advisor approximately four to seven times. Each meeting will vary between two and four hours, depending upon the complexity of the client’s situation. Once the recommendations are made, Legend then assists in the implementation of the recommendations where it possibly can. Some examples include:.
  
• Arranging loans, including mortgages and personal loans with private banking departments of banks and, when necessary, introducing a client with commercial loan needs to an appropriate banking officer.
  
• Providing a banker with appropriate financial information to arrange or renew a loan for the client.
  
• Sending financial information to attorneys so that they prepare the necessary estate documents, including wills, trusts, powers of attorney, health care proxy, and living wills.
  
• Sending tax information to accountants, such as bonus payments, gains and loss information on the sale of securities, etc. to prepare the tax return and make appropriate estimated tax payments.
  
• Requesting information on the policy status of life insurance and annuity policies on behalf of the client. This information would include such items as death benefits, cash values, surrender charges, beneficiaries, tax basis, investment return, etc.
  
• Requesting the tax basis of securities on behalf of clients.
  
• Requesting insurance quotes on behalf of clients. During the first twelve months of service, as well as all ensuing years that Legend is retained, the client is entitled to unlimited phone calls, meetings, service, and advice for their retainer fee. The second and all subsequent year’s retainer fees are approximately 50% to 70% of the original retainer fee, again, depending upon the level of complexity of the client’s situation. Legend, at any time, at its discretion, may increase financial planning retainer fees due to increased operating costs..  

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