Lantern Wealth Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, education planning, estate planning, insurance, and tax planning.
Lantern Wealth Advisors reports 188 clients. They include 115 individual clients, 60 high-net-worth individuals, and 8 pension and profit-sharing plans. Of its assets, 95.9% ($307M across 381 accounts) are managed with discretion; $13M across 17 accounts are not. A wrap fee program the firm both sponsors and manages holds $7.93M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 61% | 11% |
| High-net-worth individuals | 32% | 73% |
| Pension and profit-sharing plans | 4% | 5% |
| Charitable organizations | 3% | 11% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 115 | $34.6M | 10.8% | $301K |
| High-net-worth individuals | 60 | $234M | 73.3% | $3.91M |
| Pension and profit-sharing plans | 8 | $14.9M | 4.7% | $1.87M |
| Charitable organizations | 5 | $35.9M | 11.2% | $7.18M |
| Total | 188 | $320M | 100% | $1.7M |
- Clients
- 115
- Regulatory AUM
- $34.6M
- AUM share
- 10.8%
- Avg. per client
- $301K
- Clients
- 60
- Regulatory AUM
- $234M
- AUM share
- 73.3%
- Avg. per client
- $3.91M
- Clients
- 8
- Regulatory AUM
- $14.9M
- AUM share
- 4.7%
- Avg. per client
- $1.87M
- Clients
- 5
- Regulatory AUM
- $35.9M
- AUM share
- 11.2%
- Avg. per client
- $7.18M
Total
- Clients
- 188
- Regulatory AUM
- $320M
- AUM share
- 100%
- Avg. per client
- $1.7M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Lantern Wealth Advisors is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Consulting
- Consulting is billed hourly at $300 to $850 per hour, depending on the nature and complexity of the client's circumstances and needs.
- Financial Planning
- Initial financial plan is a fixed fee of $4,000, plus $1,750 each time the plan is reviewed and updated; fees are negotiable.
Percheron Asset Management Group, Inc. owns 75% or more of Lantern Wealth Advisors and is in turn owned by Lawrence Herold (25–50%), Keith Lanton (25–50%) and Wendy Sheftel (25–50%). The leadership team of Lantern Wealth Advisors includes President Keith Lanton and Chief Compliance Officer Daphne Jo Stasco. It has 26 employees.
Staff
- 26 employees
- 26 in advisory functions
- 26 state-registered reps
- 16 broker-dealer reps
- 5 insurance agents
- 1 soliciting firm
- Owns 75% or more of Lantern Wealth Advisors, LLC
Percheron Asset Management Group, Inc.
Control person · since November 2020
- Owns 25% to 50% of Percheron Asset Management Group, Inc.
Lawrence Herold
Control person · since November 2020
- Owns 25% to 50% of Percheron Asset Management Group, Inc.
Keith Lanton
Control person · since November 2020
- Owns 25% to 50% of Percheron Asset Management Group, Inc.
Wendy Sheftel
Control person · since November 2020
- Owns 10% to 25% of Lantern Wealth Advisors, LLC
Markpet, LLC
since January 2017
- Owns 75% or more of Markpet, LLC
Mark Eisenberg
Control person · since November 2012
Lantern Wealth Advisors’ regulatory assets grew 2.1× from $151M (March 2021) to $320M (August 2026); clients rose from 119 to 188 and employees from 13 to 26. In 2020, Bernard Herold & Co. joined it.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Aug 2026August 2026 | $320M | 188 | 26 | 6 |
| Jun 2025June 2025 | $265M | 199 | 20 | 5 |
| Mar 2024March 2024 | $228M | 177 | 14 | 3 |
| Mar 2023March 2023 | $175M | 195 | 14 | 3 |
| Mar 2022March 2022 | $166M | 147 | 10 | 3 |
| Mar 2021March 2021 | $151M | 119 | 13 | 4 |
Firms that joined
20201 joined
- Bernard Herold & Co.No filed AUM
Firms whose SEC withdrawal reports a sale to this firm, and deals reported in the press. Teams that moved without selling a registered firm may not appear.
Besides its headquarters, Lantern Wealth Advisors has 5 offices, with 6 listed addresses across 4 states.
New York · 3 listed addresses
- 35 Pinelawn Road, Suite 101e, MelvilleHQ
- 711 Third Avenue, New York
- 1190 Hylan Boulevard, Staten Island
California · 1 listed address
- 111 Pine Street, San Francisco
Illinois · 1 listed address
- 115 Campbell Street, Geneva
Texas · 1 listed address
- 1980 Post Oak BLVD, Houston
Contact and registration details
- Legal name
- Lantern Wealth Advisors, LLC
- Headquarters
- 35 Pinelawn Road, Suite 101e, Melville, NY 11747
- Website
- heroldlantern.com
- Phone
- 631-454-2000
- @heroldlantern
- SEC file
- 801-79035
- Structure
- Delaware LLC
- Fiscal year end
- December
Lantern Wealth Advisors’ named custodians for separately managed accounts are Pershing ($150M, 52%) and Charles Schwab ($141M, 48%). Lantern Wealth Advisors does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $141M48%
- PershingPershing LLC · Jersey City, NJ · $150M52%
At year end, Lantern Wealth Advisors’ separately managed accounts were largely in funds (40%) and stocks (39%). Its reported 13F holdings for the quarter ended 30 June 2026 total $218M across 184 positions; the largest are Apple Inc. (5.2%), American Centy ETF TR (5.1%) and Invesco Exchange Traded FD T (3.9%).
What the accounts hold
- Stocks39%
- Funds40%
- Bonds12%
- State and local bonds7%
- U.S. government and agency bonds4%
- Investment grade corporate bonds1%
- Cash9%
How many clients does Lantern Wealth Advisors have?
Lantern Wealth Advisors has 188 clients and manages $320 million for them, as of August 2026. They include 115 individual clients, 60 high-net-worth individuals, and 8 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 18 August 2026
What services does Lantern Wealth Advisors offer?
Lantern Wealth Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, education planning, estate planning, insurance, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
Which custodians does Lantern Wealth Advisors use?
Lantern Wealth Advisors’ separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $150M and Charles Schwab & Co., Inc. (Westlake, TX), with $141M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 18 August 2026
How many financial advisors does Lantern Wealth Advisors have?
Lantern Wealth Advisors has 26 investment adviser representatives registered with state securities authorities, out of 26 employees, and 26 perform investment advisory functions. 16 employees are registered representatives of a broker-dealer and 5 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Lantern Wealth Advisors invest in?
At the end of its last fiscal year, Lantern Wealth Advisors’ separately managed accounts held 40% registered funds (mutual funds, ETFs, BDCs), 39% exchange-traded equities, 9% cash and equivalents, 7% state and local bonds, 4% U.S. government and agency bonds and 1% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Lantern Wealth Advisors?
Lantern Wealth Advisors is owned through holding companies by Mark Eisenberg, Lawrence Herold, Keith Lanton and Wendy Sheftel. Its direct owners are Markpet, LLC (10% to 25%) and Percheron Asset Management Group, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 18 August 2026
How does Lantern Wealth Advisors get paid?
Lantern Wealth Advisors is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Lantern Wealth Advisors?
Lantern Wealth Advisors’ main office is at 35 Pinelawn Road, Suite 101e, Melville, NY 11747. Its phone number is 631-454-2000. Its website is heroldlantern.com.