I have not played legend, but if your GMing a game, do whatever the heck you want.
For instance, I ran seasoned characters in Mongoose Runequest 1. Aside from what players had normal access to from Runecasting, having a slightly higher starting level, and money, I gave them 6 points to spend on spells in the following formula:
You have 6 points of magnitude to spend on spells, but the maximum magnitude spell you got for free is mag 3. So that could be 6 mag 1s, 3 mag 2s, or any mix as long as it followed those rules.