Lantern Wealth Advisors, LLC

CRD#147420
Investment Advisor Firm

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Learn more about Lantern Wealth Advisors, LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • 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.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      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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