Lenox Wealth Advisors, Inc. (New York)

Name: Lenox Wealth Advisors, Inc.
Address: 530 Fifth Ave., New York, NY, 10036
Telephone: 212-231-9062

Lenox Wealth Advisors, Inc. is a large advisory firm based in New York. It manages $1.12 billion of regulatory assets for 1,493 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of California, Connecticut, Florida, and 8 other states.

Lenox Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Lenox Wealth Advisors: assets under management

The assets under management (AUM) of Lenox Wealth Advisors, Inc. is $1.12 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 1457% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.12 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $750.69 thousand each.

Lenox Wealth Advisors has custody of $496.51 million in cash and securities for 472 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 43% of the total AUM. The second-largest asset type is exchange traded securities, which make up 36% of the firm’s portfolio. Investments in state and local bonds form 12% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Lenox Wealth Advisors, Inc. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients David M Carter serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of David M Carter is high net worth individuals with 1,464 clients and $1.11 billion of assets under management. Among the 6 most similar advisory firms, Lenox Wealth Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.12 billion for 1,493 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Lenox Wealth Advisors doesn't advise any private funds.

Careers at Lenox Wealth Advisors, Inc.

The company employs 9 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

David M Carter has been acting as President since 1 Jan 2012. Lwa Holdings Llc joined the executive team most recently as the Shareholder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Nfp Corp.	Shareholder	1 Jun 2011	75% - 100%	13-4029115
Lori Michell Lieser	Vice president	1 Jun 2011	Other	2131475
David M Carter	Principal	1 Jun 2011	Other	2362095
Stephanie Scherr Olson	Chief compliance officer	1 Jun 2011	Other	4794871
National Financial Partners Corp.	Parent organization	1 Jun 2011	75% - 100%	13-4029115
Brett Ronald Schneider	Director	1 Nov 2011	Other	5636953
David M Carter	Chief investment officer/president	1 Jan 2012	Other	2362095
Michael Andrew Book	Managing director	1 Jan 2012	Other	2128493
Gregory Karl Large	Managing director	1 Jan 2012	Other	2126643
Rick Pierce Van Benschoten	Managing director	1 Jan 2012	Other	1772365
Christina Dawn Cade	Chief financial officer/vice president/treasurer	1 Jan 2012	Other	4696065
Gregory Kevin Reynholds	Chief compliance officer/senior portfolio manager	1 Jan 2013	Other	4494735
David Bradley Schrohe	Executive vice president	1 Apr 2013	Other	2701416
Michael Andrew Evan	Director/vice president	1 Sep 2013	Other	6292441
Edward George O'malley	Director	1 Feb 2015	Other	5902666
Veronica Ei Chun Moo	Director	1 Jul 2017	Other	5867442
Lwa Holdings Llc	Shareholder	1 Nov 2017	75% - 100%	82-4380204

Indirect Owners

The SEC currently registers 12 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Nfp Intermediate Holdings B. Corp.	Owner	1 Jul 2013	75% - 100%	46-2704384
Nfp Intermediate Holdings A. Corp.	Owner	1 Jul 2013	75% - 100%	46-2723281
Llc Nfp Holdings	Owner	1 Jul 2013	75% - 100%	30-0781325
L.P. Madison Dearborn Capital Partners Vi A	Owner	1 Jul 2013	75% - 100%	26-1274415
L.P. Madison Dearborn Partners Vi A&C	General partner	1 Jul 2013	Other	26-1267403
Madison Dearborn Partners	General partner	1 Jul 2013	Other	157349
Patriot Intermediate Holdings B. Corp.	Owner	1 Jul 2013	75% - 100%	46-2704384
Patriot Intermediate Holdings A. Corp.	Owner	1 Jul 2013	75% - 100%	46-2723281
Llc Patriot Investment Holdings	Owner	1 Jul 2013	75% - 100%	30-0781325
Llc Nfp Parent Co	Owner	1 Oct 2014	75% - 100%	47-1953275
Llc Nfp Ultimate Holdings	Owner	1 Feb 2017	75% - 100%	81-5114348
Nfp Corp	Owner	1 Nov 2017	50% - 75%	13-4029115

Based in New York

The principal office where Lenox Wealth Advisors, Inc. performs its advisory services is located at 530 Fifth Ave., New York, NY 10036, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-231-9062 or by fax 212-231-9069. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at lenox-wealth.com.