Lumida Wealth Management LLC

CRD#323410
Investment Advisor Firm

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Overview

Lumida Wealth Management LLC operates as a financial advisory firm that has its headquarters in New York, New York. The company controls $99.7 million in assets under management over four customer accounts. The company has a small team, including 3 financial advisors. Lumida Wealth Management LLC is not a registered broker-dealer, signifying that it cannot buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer company to do so. Securities are defined as tradable financial assets such as stocks, options and bonds.

Lumida Wealth Management LLC manages most of the firm's accounts in a discretionary manner. Discretionary management is a structure in which buy and sell decisions for the client's account are made by a portfolio manager without needing to seek client permission. Lumida Wealth Management LLC also oversees one non-discretionary accounts with a total of $98.6 million in assets. The advisory firm's average account size is $24.9 million. The average financial advisor at Lumida Wealth Management LLC administers around one client account, placing it among the most personalized firms in the country.

The company's headquarters is at 25 W 39Th Street Suite 700, New York, New York 10018. The firm is legally registered to provide services to investors across a few states, including Florida and New York.

Assets Under Management

$99.7 million

Number of Advisors

3

Disclosures

No

Office Location

25 W 39Th Street Suite 700
New York, NY 10018

Lumida Wealth Management LLC by the Numbers

Total Assets Under Management

$99.7 million

National Average: $8.6 billion
Total Number of Employees

3

National Average: 64
Total Number of Accounts

4

National Average: 375,227
Average Account Size

$24.9 million

National Average: $23.0 thousand
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Fee Structure

A financial advisor's fees usually are based on which services the firm provides the client. Fee types billed by Lumida Wealth Management LLC likely include any combination of the following fee types: asset-based or performance-based. Lumida Wealth Management LLC does not participate in a wrap fee program, in which the company offers a service bundle for a single 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 26% of firms

    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.

Unavailable

  • Find one of the 21% of firms that offer this fee type

    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.

  • 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 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 32% of firms that offer this fee type

    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.

  • 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 pooled investment vehicles. Out of its four customers, Lumida Wealth Management LLC's biggest client by number of accounts is pooled investment vehicles. None of its accounts are from outside of the U.S.

  • High-Net-Worth Individuals* - 0%
  • Other Individuals - 0%
  • Corporations - 100%
  • Charitable Organizations - 0%

* 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

Lumida Wealth Management LLC does not have any disclosures.

Please visit its Form ADV for more details.

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