Lincoln Financial Securities Corporation (LFS) functions as both a registered investment advisor (RIA) and a registered broker-dealer.
The fee-based firm has more than $3.3 billion in assets under management, and it currently serves more than 15,300 clients. Individual clients make up around 15,000 of the financial advisor's clients.
The firm charges asset-based fees, hourly fees, fixed fees and commissions.
Lincoln Financial Background
LFS traces its origins back to 1969 when it became incorporated. The firm became a RIA with the U.S. Securities and Exchange Commission (SEC) in 1985. Lincoln National Corporation wholly owns LFS.
This firm also offers sponsored advisory services through SEI Investments Management Corporation and AssetMark, Inc. Morningstar Investment Services, LLC, Brinker Capital, Hanlon Investment Management, Symmetry Partners LLC, CLS Investments LLC, City National Rochdale, LLC, Flexible Plan Investments Ltd. and Pacific Financial Group Inc.
Lincoln Financial Client Types and Minimum Account Sizes
Lincoln Financial serves individuals, high-net-worth individuals, pension and profit sharing plans, charitable organizations, corporations and other businesses and state and municipal government entities.
The firm’s account minimums typically vary based on account type. They range from $25,000 to $100,000.
Services Offered by Lincoln Financial
Lincoln Financial offers the following advisory services:
- Portfolio management
- Financial planning
- Pension consulting
- Selection of other advisors (including private fund managers)
- Retirement plan consulting services
- Custom Wealth Advantage Choice Wealth Management Program
- Custom Wealth Advantage Program (which includes the Custom Wealth Advantage Separately Managed Accounts Program, the Custom Wealth Advantage Mutual Fund Program, and the Custom Wealth Advantage Strategist Program)
Lincoln Financial Investment Philosophy
Lincoln Financial’s professionals help clients evaluate different securities in various asset classes, according to the firm’s website. The firm also believes a successful portfolio contains the right combination of investment vehicles, and advisors analyze each security on its risk, style and performance.
Lincoln Financial Fees
For programs that rely on portfolio managers, Lincoln requires clients to pay a portion of the total fee up to 3.00% of assets. Fees for retirement plan advisory services are negotiable.
What to Watch Out For
LFS has multiple disclosures listed on its Form ADV. One of the violations resulted in a fine of $525,000.
Some advisors also offer investment and insurance products which charge fees that are in addition to the fees for regularly advisory services. This can create a conflict of interest if advisors push products charging a sales commission but which are not in the best interest of the client.
Opening an Account with Lincoln Financial
You can set up an account with Lincoln Financial by visiting the firm’s office, or by calling an advisor at (800) 237-3813.
Investing Tips for Beginners
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All information is accurate as of the writing of this article.