What sets Lenox apart from other wealth management firms?
We take a progressive approach based on the premise that personal happiness drives financial success. We start our relationship understanding you and then translate your personal strengths into your financial strength. This is distinct from a traditional approach, which only personalizes a financial plan based on your current balances, time-line, risk tolerance, and income needs. We use your inherent gifts as the basis for a plan to create wealth, manage wealth and then use your wealth to impact your world for the better. This is an integration of your life and your balance sheet.
What does it mean that Lenox is a fiduciary? Why is that important?
As a fiduciary, Lenox acts with undivided loyalty to our clients and their best interest. This means we receive compensation solely from our clients and not from recommending or selling investments or other financial products. We are members of the National Association of Personal Financial Advisors (NAPFA). For more information on being a fiduciary and NAPFA, check out this website: https://www.napfa.org/.
How are fees determined?
Each client’s fees are determined individually and are based on a couple different factors: assets under advisement and services selected. When a new client relationship begins, the relationship manager clearly explains what the fees will be, how they will be charged, when they will be charged, etc.
Are my assets safe at Lenox?
We work with custodial partners that physically hold your assets. Currently, Lenox works with Schwab Institutional, Fidelity, US Bank, and Millennium Trust Company as custodians. We arrange for our clients to execute custodial agreements; the custodian then provides transactional services, regular statements and online access to client accounts.
How do I transfer my current accounts to Lenox?
We have helped many clients through a strategic wealth managemprocess and know that it can be uncomfortable delivering the news that you are leaving your current advisor. You can be as involved or uninvolved in this process as you’d like to be. We are well-versed in respectfully communicating your decision and completing the necessary transfers.