Lexington Wealth Management, Inc. is a large advisory firm based in Lexington. It manages $929.18 million of regulatory assets for 2,152 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of California, Connecticut, Florida, and 8 other states.
Lexington Wealth Management provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Lexington Wealth Management, Inc. is $929.18 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 86% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has several streams of revenue. Clients pay Lexington Wealth Management, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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.
The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Michael Stephen Tucci is high net worth individuals with 187 clients and $844.91 million of assets under management. Among the 6 most similar advisory firms, Lexington Wealth Management has the highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $929.18 million for 397 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.
Lexington Wealth Management doesn't advise any private funds.
The company employs 18 people that are either part- or full-time employees. 72 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.
There are 13 people 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.
Michael Stephen Tucci has been acting as President since 1 Apr 2005. Kristine Marie Porcaro joined the executive team most recently as the President/Chief Compliance Officer.
The principal office where Lexington Wealth Management, Inc. performs its advisory services is located at 12 Waltham Street, Lexington, MA 02421, 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 781-860-7745 or by fax 781-862-4392. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at lexingtonwealth.com.