The wealth management teams of Bernard Herold & Co. and Lantern Investments are joining forces as Herold & Lantern Investments, creating a firm with more than $2 billion in customer assets in total.
The new firm will include 60 financial professionals based out of three full-service offices in New York, along with locations in New Jersey, Illinois, Texas and California, according to Larry Herold, the chief operations officer of the newly established firm. The new partnership is effective as of Monday.
“Our firms are remarkably complementary with a depth of knowledge about financial instruments and investment services, along with our highly experienced and skilled team of representatives,” he said.
The firm’s larger size will enable it to reach clients in more markets and will hopefully attract more investment professionals seeking a growing firm. The new firm will work with individuals, families and institutions, with a reputation in value-based bond trading.
“The new firm is the result of our shared vision of the evolving broker-dealer industry which is undergoing significant change enabled by technology, and by our desire to provide scale through the comprehensive packages of financial services we make available to our clients,” President Keith Lanton said about the deal.