Lantern Wealth Advisors, LLC

CRD#147420
Investment Advisor Firm

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Overview

Lantern Wealth Advisors, LLC operates as an advisory firm that has its headquarters in Melville, New York. Lantern Wealth Advisors, LLC administers $174.6 million in assets under management over 214 client accounts, making it a mid-tier financial advisory firm in the country by assets under management (AUM). The company has a small team, including 12 financial advisors. Lantern Wealth Advisors, LLC does not act as a registered broker-dealer, signifying that the firm cannot buy and sell securities for its own accounts as well as its customers' and instead is required to go through a broker-dealer firm to do so. Securities are tradable financial investments such as stocks, bonds and options.

Lantern Wealth Advisors, LLC administers most of its client assets in a discretionary manner. Discretionary management is a structure in which transaction judgments for the client's account are made by an investment advisor without needing client approval. Lantern Wealth Advisors, LLC also oversees three non-discretionary accounts with a total of $4.2 million in assets under management. The firm's average account size is $815,999. An average financial advisor at Lantern Wealth Advisors, LLC administers around 18 client accounts, making it one of the more personalized advisor firms in the country.

The firm's central office is at 35 Pinelawn Road, Melville, New York 11747. The firm is registered to serve investors across a few states, including California, Connecticut, Florida, Illinois, New Jersey, New York, Pennsylvania and Texas.

Assets Under Management

$174.6 million

Number of Advisors

12

Disclosures

No

Office Location

35 Pinelawn Road
Melville, NY 11747

Lantern Wealth Advisors, LLC by the Numbers

Total Assets Under Management

$174.6 million

National Average: $8.6 billion
Total Number of Employees

14

National Average: 64
Total Number of Accounts

214

National Average: 375,227
Average Account Size

$816.0 thousand

National Average: $23.0 thousand
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Products and Services

Lantern Wealth Advisors, LLC provides multiple financial services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, selection of other advisers and other services. However, the company did not provide financial planning services to any of its clients in the last fiscal year. Lantern Wealth Advisors, LLC does not sell products or offer services aside from investment advisory services to its investment advisory accounts. Lantern Wealth Advisors, LLC also has a number of financial industry affiliations, including with a broker-dealer or securities dealer and insurance company or agency.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 20% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

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    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees charged by financial advisors largely vary depending on which services are offered. Fee types charged by the firm likely are comprised of the following fee structures: asset-based, hourly or fixed. Lantern Wealth Advisors, LLC participates in a wrap fee program, in which the company offers a service bundle for a comprehensive fee.

Available

  • Offered by 69% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 21% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 32% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

The company caters to retail investors, high net worth investors, pension plans and charitable organizations. Out of its 214 accounts, Lantern Wealth Advisors, LLC's biggest client group by number of accounts is retail investors, though it also manages money for 36 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's customers reside abroad.

  • High-Net-Worth Individuals* - 18.46%
  • Other Individuals - 77.44%
  • Corporations - 2.56%
  • Charitable Organizations - 1.54%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Lantern Wealth Advisors, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Lantern Wealth Advisors, LLC

Hunter Lanton
Melville, NY
Salvatore Favarolo
Melville, NY
Alan Eppers
Melville, NY
William Finkelstein
Melville, NY
Kevin Anders
San Francisco, CA
Manuel Arias
Melville, NY
Laurence Hayes
Barrington, IL
William Selvaggi
Houston, TX
Alex Platonov
Melville, NY

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