Frequently Asked Questions
What is a fiduciary?
A fiduciary has a legal duty to act in your best interest. All business conducted through Lamplighters Investment Advisors is on an investment fiduciary basis.
What is the process for becoming a client of Lamplighters?
We schedule an exploratory meeting with prospective clients to understand their needs and financial situation in depth. From the information collected, some integrated modeling tools, and a healthy dose of old-fashioned pondering we prepare a proposal to help you address your financial goals. The proposal is presented at a follow-up meeting within a week to 10 days of the exploratory meeting. There is no charge for either meeting, and you are under no obligation to become a client.
What are your portfolio/account minimums?
While it is obviously advantageous for us to manage larger portfolios, we have learned that there is a certain professional and social satisfaction in serving clients that reflect the community in which we live. After much reflection we have decided not to set portfolio minimums for new clients, but rather to assess our capacity to accommodate the new client’s needs on a case by case basis. At the specific account level, accounts must be $25,000 or larger.
Do you offer comprehensive Financial Planning?
Yes, however we have found that a formal 50 or 100 page written financial plan is rarely of practical use to most clients. The real value we bring to clients is personal engagement between the client and advisor. This relationship allows the advisor to understand the client and to present options in terms the client will understand. Much is accomplished at in-person annual reviews using integrated and interactive modeling tools. These tools enable the client, with the assistance of their advisor, to explore various scenarios or courses of action. The key points of these meetings can usually be summarized in one or two pages, with supplemental reports of specific analyses run during the meeting upon request.
How are you paid?
We work with clients on an annual fee basis. Please see our Fees page. We also offer commission-based services if they are more suitable for you.
Do you sell annuities or other life insurance products?
While we can offer these products, we prefer not to and believe your interests are better served by encouraging you to shop for the appropriate product from a variety of insurance companies.
Is this the right time to be in the stock market?
You will not know if now is the right time until you look back with the benefit of crystal clear hindsight. Stock markets, despite the endless parade of opinions in the media, really are unpredictable – and especially so in the short term. What we do believe about investing in stocks is that the longer your holding period the greater the odds you will achieve returns superior to lower risk asset classes such as bonds and cash. You should only consider stock investments for that portion of your portfolio that you will not need to touch in the next five years. Seasoned professional investors understand that trying to jump in and out of the market in anticipation of some newsworthy event is more often than not self-defeating. We do not attempt this with our own money and would certainly not try it with yours.