Lantern Wealth Advisors, LLC
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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
Number of Advisors
Disclosures
Office Location
Lantern Wealth Advisors, LLC by the Numbers
$174.6 million
14
214
$816.0 thousand
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
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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.
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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.
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Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Other Services
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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.
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
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Offered by 69% of firms
Percentage of Assets
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Offered by 21% of firms
Hourly
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Offered by 32% of firms
Fixed
Unavailable
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
Melville, NY
Melville, NY
Melville, NY
Melville, NY
San Francisco, CA
Melville, NY
Barrington, IL
Houston, TX
Melville, NY
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