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David Boniface

Wealth Advisor
LPL Financial
Legacy Capital Wealth Management
255 SE Hwy. 97, Ste. 1A
Forest Lake, MN 55025
Office: 651-982-1115

Professional Approach

At Legacy Capital Wealth Management, we understand life is unpredictable and full of surprises. We help our clients deal with these surprises by making sure they are financially prepared for the unexpected. We do this by building highly personalized financial plans and investment portfolios.

David Boniface is the owner and president of Legacy Capital Wealth Management. David graduated from the University of Minnesota-Duluth. In 1988 he began his successful career as a financial advisor for a small regional Investment firm and continued there until 2001 when he opted to start his own practice, Legacy Capital. From the beginning, the mission of Legacy Capital was to create a firm that would always place its client’s best interest ahead of its own. Dave holds the Series 7, 63 & 66 securities registrations, as well as his series 04 and 24 principal registrations through LPL Financial.

 David has received numerous awards and national recognition.  He is a 12x recipient of the “5-Star Wealth Manager” award featured in the Minneapolis-St. Paul Magazine; an elite group representing only the top 7% of the wealth managers in the Twin Cities area. David has also been recognized by Forbes magazine list of “In State Top Wealth Advisors”. Dave and his team help clients build confidence in their financial plans.

When not working, Dave enjoys spending time at the family cabin on Webb Lake. He especially enjoys his new granddaughter, Isla, and looks forward to their fishing time together. Dave enjoys the cabin mornings on the fat tire biking trails before heading to the pontoon for lake time. Dave’s winter activities include hiking in the woods and cross-country skiing and of course, watching Vikings and Gopher football.  Dave resides in Wyoming, MN with his wife, Jane and their dog, Miller. He has 3 adult children.

We encourage anyone interested in learning more about what we do at Legacy Capital Wealth Management to reach out and contact us. We are happy to answer any questions you have or help you in any way we can. You can visit our website at to learn more. We are located in the Schilling Plaza on Highway 97 (across the street from the high school) in Forest Lake, Minnesota.

This award was issued on 12/1/23 by Five Star Professional (FSP) for the time period 3/13/23 through 9/29/23. Fee paid for use of marketing materials. Self-completed questionnaire was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria. 4,280 Twin Cities-area wealth managers were considered for the award; 637 (15% of candidates) were named 2024 Five Star Wealth Managers. The following prior year statistics use this format: YEAR: # Considered, # Winners, % of candidates, Issued Date, Research Period. 2023: 4,080, 633, 16%, 12/1/22, 3/14/22 - 10/18/22; 2022: 4544, 622, 14%, 12/1/21, 3/29/21 - 10/8/21; 2021: 4004, 630, 16%, 12/1/20, 3/30/20 - 10/23/20; 2020: 3606, 589, 16%, 12/1/19, 3/1/19 - 10/25/19; 2019: 3504, 671, 19%, 12/1/18, 3/23/18 - 10/23/18; 2018: 2622, 591, 23%, 12/1/17, 2/23/17 - 10/13/17; 2017: 2304, 836, 36%, 11/1/16, 2/25/16 - 10/14/16; 2016: 2083, 854, 41%, 11/1/15, 4/17/15 - 10/14/15; 2015: 2673, 825, 31%, 12/1/14, 4/17/14 - 10/14/14; 2014: 1931, 844, 44%, 12/1/13, 4/17/13 - 10/14/13; 2013: 2151, 863, 40%, 12/1/12, 4/17/12 - 10/14/12; 2012: 1256, 624, 50%, 11/1/11, 4/17/11 - 10/14/11.
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It is the mission of Legacy Capital to provide quality services aimed at building and protecting the wealth of our clients. To accomplish this, we will consistently strive to fulfill the highest professional and ethical standards and to always act in our clients' best interest.


Securities and Retirement Plan Consulting Program advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. Other advisory services offered through Magnetic North Advisors, a separate entity.

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*Winners appearing on this page do not pay a fee to be considered or to win the Five Star Award. Professionals with a digital profile have paid a promotional fee.
Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. The award is based on 10 objective criteria. Eligibility criteria - required: 1. Credentialed as a registered investment adviser (RIA) or a registered investment adviser representative; 2. Actively licensed as a RIA or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by FSP, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or FSP's consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through FSP's consumer complaint process; feedback may not be representative of any one client's experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria - considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. FSP does not evaluate quality of services provided to clients. The award is not indicative of the wealth manager's future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their clients' assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by FSP or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by FSP in the future. Visit