DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Lantern Wealth Advisors, LLC
Latest filing Aug 18, 2026
First filing on the tape Dec 26, 2013 · 45 filings
SEC status approved since Jan 15, 2014
RAUM
$320M
reported, Item 5.F
Discretionary
96%
of RAUM
Private clients
84%
$269M individuals and HNW
Advisors
26
registered through the firm on IAPD
RAUM per advisor
$12.3M
derived; firm RAUM over IAPD count
Employees
26
26 advisory (5.B.1)
Offices
5
beyond the principal office
Private funds
0
reported on Schedule D
History
45 filings and snapshots on the tape
RAUM$320M as of Aug 18, 2026
Mar 27, 2015$85.0M then
HNW client RAUM$234M as of Aug 18, 2026
Mar 27, 2018$78.7M then
State-registered IARs (5.B.3)26 as of Aug 18, 2026
Mar 27, 20158 then
Employees (5.A)26 as of Aug 18, 2026
Mar 27, 20158 then
Private funds: no history
RAUM +20% over the last fiscal year+22% a year over threeIARs 16 to 26offices 4 to 5
Practice profile
derived from the filing of Aug 18, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- RAUM per advisor
- $12.3MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 7derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.9MderivedHNW RAUM over HNW clients
- Average account
- $803,681derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 96%derivedof RAUM
- Institutional
- 16%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 4.3derived6 offices incl. principal (1.F.5)
- RAUM growth, one year
- +20%derivedbetween the last two annual amendments
- Advisor growth, one year
- +63%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -2.8%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisers, otherreportedItem 5.G
- Wrap fee program
- $7.9MreportedItem 5.I
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$234M73%
- Charitable organizations$35.9M11%
- Individuals$34.6M11%
- Pension and profit-sharing plans$14.9M4.7%
- Individual clients
- 115reported
- HNW clients
- 60reported
- Pension plan clients
- 8reported
- Charitable clients
- 5reported
- Accounts
- 398reported
- Financial planning clients
- 0reported
- Wrap fee programs
- $0 sponsored, $0 managedreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.84 fund_share=0.0 institutional_share=0.16 related_bd=true related_bank=false bd_reps=16.0derived
Advisors registered through the firm
21 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Keith Michael Lanton | Melville, Ny | Oct 13, 2010 | 34 y | 0 |
| Manuel Arias | San Francisco, Ca | Oct 13, 2010 | 34 y | 1 |
| William Selvaggi | Houston, Tx | Sep 22, 2011 | 38 y | 2 |
| Gary Lee Vogt | Melville, Ny | Feb 8, 2012 | 43 y | 0 |
| Laurence James Hayes | Geneva, Il | Jan 21, 2014 | 39 y | 0 |
| Eugene David Lanton | Melville, Ny | Mar 5, 2015 | 42 y | 0 |
| Alan Michael Eppers | Melville, Ny | Feb 18, 2016 | 35 y | 3 |
| Wendy Diane Sheftel | Melville, Ny | Sep 16, 2021 | 34 y | 0 |
| Alex Platonov | Melville, Ny | Sep 16, 2021 | 21 y | 0 |
| Jan Gunther | Melville, Ny | Sep 16, 2021 | 44 y | 0 |
| William Paul Finkelstein | Melville, Ny | Sep 16, 2021 | 12 y | 0 |
| Salvatore Favarolo | Melville, Ny | Sep 16, 2021 | 27 y | 1 |
| Joseph Benjamin Ruby | Melville, Ny | Apr 1, 2022 | 27 y | 0 |
| Sabrina Adeline Stewart | San Francisco, Ca | Apr 1, 2022 | 37 y | 1 |
| Peter Michael Katz | New York, Ny | Apr 29, 2024 | 44 y | 1 |
| Nicholas Brill Brown | East Hampton, Ny | Jul 31, 2024 | 35 y | 2 |
| Bradley Richard Harris | New York, Ny | Sep 23, 2024 | 38 y | 0 |
| Kevin Anders | San Francisco, Ca | Jan 1, 2025 | 33 y | 1 |
| John Douglas Albert | Melville, Ny | Jun 24, 2025 | 36 y | 1 |
| Marc Daniel Aiken | Melville, Ny | Jul 1, 2025 | 42 y | 1 |
| Burton Jay Drobnis | San Francisco, Ca | Feb 12, 2026 | 36 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount1 left over 36 months
Left, latest
- David Leo Spiegel to Gci Financial GroupJul 1, 2025 · RIA to RIA
- Alexander Bernd Overkamp to Cambridge Investment Research Advisors, Inc.Jan 7, 2016 · Other
- James Norman Riley to Esi Financial AdvisorsApr 1, 2015 · Other
- Nabil Bouab to American Portfolios Advisors, IncJul 10, 2013 · Other
Joined, latest
- Marc Daniel Aiken from Securities Research, Inc. Of FloridaJul 1, 2025 · Other
- John Douglas Albert from Securities Research, Inc. Of FloridaJun 24, 2025 · Other
- Kevin Anders from Mclaughlin, Piven, Vogel Securities, Inc.Jan 1, 2025 · Other
- Nicholas Brill Brown from Dorado Wealth Management LLCJul 31, 2024 · RIA to RIA
- Peter Michael Katz from Western International SecuritiesApr 29, 2024 · Affiliated broker-dealer or bank to independent RIA
- Sabrina Adeline Stewart from Pflueger & Baerwald Inc.Apr 1, 2022 · Other
- Salvatore Favarolo from Stifel, Nicolaus & Company, IncorporatedSep 16, 2021 · Affiliated broker-dealer or bank to independent RIA
- David Leo Spiegel from Equitable Advisors, LLCSep 14, 2020 · Affiliated broker-dealer or bank to independent RIA
- Alan Michael Eppers from Stifel, Nicolaus & Company, IncorporatedFeb 18, 2016 · Other
- James Norman Riley from Oppenheimer & Co. Inc.Feb 18, 2015 · Other
- Alexander Bernd Overkamp from Reby Advisors, LLCJul 15, 2014 · Other
- Nabil Bouab from Osaic Wealth, Inc.Jul 2, 2013 · Other
- William Selvaggi from Oppenheimer & Co. Inc.Sep 22, 2011 · Other
- Manuel Arias from Mclaughlin, Piven, Vogel Securities, Inc.Oct 13, 2010 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Securities Research, Inc. Of FloridaJun 16, 2025 · Miami, Fl
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Michael Keith Lanton · Presidentcontrolsince 04/2008 · owns less than 5%
- Diane Wendy Sheftel · Associate Compliance Officercontrolsince 01/2015 · owns less than 5%
- Daphne Jo Stasco · Chief Compliance Officercontrolsince 01/2015 · owns less than 5%
- M Mark Eisenberg · Membercontrolsince 11/2012 · owns 75% or more of Markpet, LLC
- Stephen Lawrence Herold · Ownercontrolsince 11/2020 · owns 25% to 50% of Percheron Asset Management Group, Inc.
- Michael Keith Lanton · Ownercontrolsince 11/2020 · owns 25% to 50% of Percheron Asset Management Group, Inc.
- Diane Wendy Sheftel · Ownercontrolsince 11/2020 · owns 25% to 50% of Percheron Asset Management Group, Inc.
Entity owners
- Percheron Asset Management Group, Inc. · Memberdirect · owns 75% or more
- Markpet, LLC · Memberdirect · owns 10% to 25%
Related persons
Schedule D 7.A
- Herold & Lantern Investments, Inc.broker-dealern
- Herold Advisors, Inc.investment advisernRAUM $540M
- Herold Insurance Agency, Inc.real estaten
- Lantern Insurance Brokerage, Inc.real estaten
- Percheron Asset Management Group, Inc.broker-dealerreal estatey
Advisers that list Lantern Wealth Advisors, LLC as a related person
- 105090 n
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Melville, Ny · principal | 25 | 1 | 0 | ||
| San Francisco, Ca | 5 | 1 | 0 | ||
| New York, Ny | 4 | 0 | 0 | ||
| Mahwah, Nj | 0 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- San Francisco, CA4 employees
- Barrington, IL1 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- advisor count surgeChange between filings · filing Mar 27, 2026advisory representatives (Item 5.B.3) moved from 16.0 to 26.0 (+63.0%) between the annual amendments of 2025-03-31 and 2026-03-27; the peer median change was 0.0% (965 comparable advisers, 99.0th percentile of changes)peers: independent wealth managers, $100M to $500M (965) · 99% percentile
What changed
consecutive filings, newest first
- Other offices · 4 to 5May 13, 2026 to Aug 18, 2026
- Accounts · 379 to 398Jun 30, 2025 to Mar 27, 2026
- Advisory employees · 15 to 26Jun 30, 2025 to Mar 27, 2026
- BD registered reps · 14 to 16Jun 30, 2025 to Mar 27, 2026
- Charity clients · unset to 5.0Jun 30, 2025 to Mar 27, 2026
- HNW clients · 45 to 60Jun 30, 2025 to Mar 27, 2026
- Individual clients · 135 to 115Jun 30, 2025 to Mar 27, 2026
- Pension plan clients · 19 to 8Jun 30, 2025 to Mar 27, 2026
- Employees · 20 to 26Jun 30, 2025 to Mar 27, 2026
- State-registered IARs · 16 to 26Jun 30, 2025 to Mar 27, 2026
- Discretionary RAUM · $258M to $307MJun 30, 2025 to Mar 27, 2026
- HNW RAUM · $172M to $234MJun 30, 2025 to Mar 27, 2026
- Individual RAUM · $39.7M to $34.6MJun 30, 2025 to Mar 27, 2026
- Non-discretionary RAUM · $7.5M to $13.0MJun 30, 2025 to Mar 27, 2026
- Pension RAUM · $21.0M to $14.9MJun 30, 2025 to Mar 27, 2026
- RAUM · $265M to $320MJun 30, 2025 to Mar 27, 2026
- Financial planning clients · 0 to 0Mar 31, 2025 to Jun 30, 2025
- Accounts · 177 to 379Mar 29, 2024 to Mar 31, 2025
- Advisory employees · 13 to 15Mar 29, 2024 to Mar 31, 2025
- BD registered reps · 11 to 14Mar 29, 2024 to Mar 31, 2025
- Charity clients · 3.0 to unsetMar 29, 2024 to Mar 31, 2025
- HNW clients · 58 to 45Mar 29, 2024 to Mar 31, 2025
- Individual clients · 114 to 135Mar 29, 2024 to Mar 31, 2025
- Pension plan clients · 2 to 19Mar 29, 2024 to Mar 31, 2025
- Employees · 14 to 20Mar 29, 2024 to Mar 31, 2025
- State-registered IARs · 13 to 16Mar 29, 2024 to Mar 31, 2025
- Other offices · 2 to 4Mar 29, 2024 to Mar 31, 2025
- Discretionary RAUM · $223M to $258MMar 29, 2024 to Mar 31, 2025
- HNW RAUM · $159M to $172MMar 29, 2024 to Mar 31, 2025
- Individual RAUM · $32.4M to $39.7MMar 29, 2024 to Mar 31, 2025
- Non-discretionary RAUM · $5.1M to $7.5MMar 29, 2024 to Mar 31, 2025
- Pension RAUM · $5.1M to $21.0MMar 29, 2024 to Mar 31, 2025
- RAUM · $228M to $265MMar 29, 2024 to Mar 31, 2025
- Accounts · 214 to 177Mar 30, 2023 to Mar 29, 2024
- Advisory employees · 12 to 13Mar 30, 2023 to Mar 29, 2024
- BD registered reps · 12 to 11Mar 30, 2023 to Mar 29, 2024
- HNW clients · 36 to 58Mar 30, 2023 to Mar 29, 2024
- Individual clients · 151 to 114Mar 30, 2023 to Mar 29, 2024
- Pension plan clients · 5 to 2Mar 30, 2023 to Mar 29, 2024
- State-registered IARs · 10 to 13Mar 30, 2023 to Mar 29, 2024
Signals
6 dated events
- Lantern Wealth Advisors, Llc reported 26 state-registered advisory representatives, up from 16 (2025-06-30 to 2026-03-27)Mar 27, 2026 · Advisor headcount change · derived
- David Leo Spiegel left Lantern Wealth Advisors, Llc for Gci Financial Group (registered 2025-07-16)Jul 1, 2025 · Advisor changed firm · fact
- 2 advisors left Securities Research, Inc. OF Florida (Miami, FL) for Lantern Wealth Advisors, LLC on the same dayJun 16, 2025 · Team lift-out · derived
- Margaret Paula Herold (Owner) no longer on Schedule A of Lantern Wealth Advisors, Llc (listed 2020-12-01, absent 2021-03-31)Mar 31, 2021 · Control person left · inference
- Patricia Barbara Lanton (Member) no longer on Schedule A of Lantern Wealth Advisors, Llc (listed 2020-06-26, absent 2020-12-01)Dec 1, 2020 · Control person left · inference
- Lantern Wealth Advisors, Llc filed its initial SEC registration (Form ADV)Dec 26, 2013 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business phone
- 201-222-7662reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 212-371-3950reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 201-222-7600reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/heroldlanternreportedpublic record, Form ADV, Sep 17, 2026
- Website
- lanternwa.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 631-454-2000reportedpublic record, Form ADV, Aug 18, 2026
- Contact form
- heroldlantern.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- heroldlantern.com/team-memberreportedpublished by the firm, firm site, Sep 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $12.3Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026