Review of Lexington Wealth Management
Lexington Wealth Management is an SEC Registered Investment Advisor (RIA) and a boutique, fee-only investment advisory company that delivers comprehensive investment management solutions to a range of clients as well as concierge services to wealthy families. Services offered comprise a variety of advisory services including financial planning, consulting, and investment management services.
The company was originally founded under the name Lexington Advisors in 1997. In January 1998, the name of the firm was officially changed to Lexington Wealth Management Inc.
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After several years of experience as an accountant at internationally recognized firms, such as Deloitte & Touche and Digital Equipment Corporation, the company’s founder, Michael Tucci, initially established Tucci & Roselli, a firm of CPAs. His interactions with institutional clients were instrumental in his appreciation of the many challenges that individuals face in their quest of seeking competent, objective, independent investment advice.
This realization was the catalyst behind Mr. Tucci’s decision to earn his CIMA (Certified Investment Management Analyst) designation from Wharton, which eventually lead to the founding of Lexington Wealth in 1998.
Since the founding of Lexington Wealth Management, Mr. Tucci has put client advocacy at the forefront of the company’s agenda, working hard to unite the “hearts” and “heads” of clients through sound investment strategies.
Lexington Wealth Management’s co-founder, Kristine Porcaro, initially founded Lexington Advisors, an independent practice of investment and wealth management experts, in 1997. Having already worked jointly with Mr. Tuccito to serve a common client, Ms. Porcaro merged her practice into Lexington Wealth Management in 1998.
Ms. Porcaro’s personal and professional experience created a strong foundation in her aspiration to create a superior client service model that puts client advocacy at the center of the firm’s attention.
For 4 years in a row, Ms. Porcaro has been recognized by Boston Magazine as a five-star wealth manager. She has also been ranked amongst the top owned women RIAs for 2013, as a top adviser by Reuters Advice Point for 2008, and as one of Worth magazine’s top 250 wealth advisors in 2008. Most recently, Ms. Porcaro was named on the Honorable Mention List of top women-led businesses in Massachusetts.
Lexington Wealth Management offers a wide range of financial planning, advisory, and consulting services to its clients, including business planning, cash flow forecasting, trust, and estate planning, financial reporting, insurance planning, retirement planning, risk management, charitable giving, distribution planning, and manager due diligence.
While these services may be available to clients on an exception basis, offered as standalone services, they commonly form part of the company’s holistic service delivery approach and are provided alongside a comprehensive wealth management engagement.
The firm’s philosophy is based on highly quantitative beliefs tempered with a qualitative asset allocation approach, which uses an “open architecture” concept of choosing the best investment products and services based on clients’ individual needs.
The company’s service model centers on understanding what makes a client unique. Based on such an understanding, the firm’s advisors then develop individualized strategies to bring together the hearts and minds of client goals.
Investment and wealth management client portfolios are managed on a discretionary basis. In line with each client’s declared investment objectives, client assets may primarily be allocated to a range of mutual funds, exchange traded funds (ETFs), individual debt and equity securities options, and independent investment managers (independent managers).
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Where appropriate, and keeping in mind client preferences, risk appetites, and investment time horizons, the company may also recommend that clients invest in privately placed securities including debt, equity and/or interests in pooled investment vehicles (e.g., hedge funds).
What We Like About Lexington Wealth Management
- Customized service offering
The company tailors its advisory services, on an ongoing basis, to meet the needs of its individual clients and seeks to ensure that client portfolios are managed in a manner consistent with those needs and objectives.
- Advice on legacy portfolio positions
Where clients hold previous portfolios (under other advisors), the company may also provide advice about any type of legacy position or other investment held in such client portfolios. This ensures that legacy positions are maintained in line with the goals and objectives the client wishes the firm’s advisors to accomplish.
- Advice on non-primary custodian assets
If clients maintain assets not held by their primary custodians, such as variable life insurance, annuity contracts, assets held in employer-sponsored retirement plans, and qualified tuition plans (i.e., 529 plans), the firm’s advisors may deliver recommendations for such assets in line with the overall financial strategy devised for the client.
- Access to specialized, independent investment managers
Where necessary, Lexington Wealth Management may engage the services of carefully screened and selected independent external entities to actively manage all/part of a client’s portfolio. This enables clients to receive specialized money management services under the supervision of the firm’s advisors.
- Broad-based clientele
Due to its varied experience and vast expertise, the company is able to offer its services to a broad base of clients including individuals, high-net-worth individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations, and business entities.
- Client-favored discretion
The firm has predefined policies on minimum account balances and minimum quarterly fee requirements. However, where warranted, the company does use its discretion to waive or reduce/lower such minimum requirements in favor of establishing, maintaining or preserving client relationships.
Lexington Wealth Management – Team Members
Lexington Wealth Management consists of an experienced team of talented professionals who, working collaboratively together, offer creative, well-rounded, and independent financial solutions that fit the unique needs of each client.
Members of the advisory team hold industry licenses, professional designations, and accreditations that include BA, BSc, CPA, CIMA, MBA, MSF, Series 65 license, PFS, CFP, MSFP, and MSA.
- Michael Tucci
- Kristine Porcaro
- Jordi Mullor
- Kerry Luria
- Kerri Luriaemail
- Glenn Frank
- …and more
Image source: Lexington Wealth Management
Image source: Lexington Wealth Management
Lexington Wealth Management Reviews – Services
Specific services offered by Lexington Wealth Management include:
– Wealth management
– Investment consulting
– Wealth counseling
– Financial planning including:
- Net worth/cash flow analysis
- Retirement planning
- Education planning
- Investment planning and management
- Tax efficiency and planning
- Insurance planning and evaluation
- Divorce planning
- Estate planning
- Business sale/succession
- Lending & mortgages
- Concierge services
– Professional alliance programs including:
- Lending & mortgages
- Estate attorneys
- M&A attorneys
– Family office services including:
- Creating family mission statements, assisting with family wealth education and family governance, providing generational and legacy planning, and integrating family philanthropy
- Preparing quarterly statements of net worth
- Summarizing cash flow, income, and expenses
- Paying bills and facilitating payroll
- Providing ongoing administrative management of complex planning entities such as GRATs , CRTs , FLPs , and ILITs
- Serving as a trustee and offering trust accounting services through our custodian
- Assisting with concierge services such as the purchase or lease of an airplane or hiring household staff
Lexington Wealth Management Address Information (Local Office)
- 12 Waltham St., Lexington, MA 02421
To Contact Lexington Wealth Management
- Tel: (781) 860-7745, (800) 626-1566
- Email: [email protected]
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