We are headquartered in the Fells Point Section of Baltimore MD. Our address is 1820 Lancaster Street, Baltimore, MD 21231.
Lombard is a full-service brokerage firm, which deals in most types of retail securities, and also owns and operates a Registered Investment Advisor and an Insurance Agency.
The firm is a closely held corporation founded in 1990 and a number of the firm’s key brokers are stockholders .The firm currently employs about 60 registered personnel, 42 branch locations, and a full time support and supervisory staff.
Lombard is an introducing broker/dealer and clears its business through Hilltop Securities Inc., a division of Hilltop Holdings (HTH: NYSE).
Looking at our culture and investment philosophy, our average rep has more than 20 years in the securities business and the firm’s managing principals have a minimum of 32 years of investment business experience. Our brokers are as diverse as our customers, and each of our financial advisors makes recommendations based on investments that are suitable and appropriate for that individual client. Lombard’s brokers are given no special payouts on any products and are free to offer a wide range of products and services to their customers.
We offer stocks, ETFs, CDs, mortgage backed securities, government, corporate, and municipal bonds, mutual funds, 529 plans, and options. We also offer a broad list of variable insurance products from the nation’s major insurance carriers.
Traditional brokerage services offered through our clearing firm include, most types of retirement account and qualified plans, account check writing, performance reporting, monthly statement and confirm e-delivery, statement house holding, online rep trading platform for stocks, bonds, options, and mutual funds, ACH funds delivery, online account access for customers, and much more.
Lombard Advisers is a state registered RIA (please see form ADV Part II) and a wholly owned subsidiary of Lombard Securities . We offer self-managed advisory plans for your clients as well as outside asset management. All accounts are held directly by our clearing firm and they handle asset billing and statement reporting. For adviser representatives who manage their accounts directly, there are no equity or mutual fund ticket charges passed on to you. Your clients will pay administrative fees starting at .20% that will be deducted from your quarterly advisory fees earned for custodian, reporting, and execution expenses . Example of AR earnings: Your client pays a 1% annual fee billed quarterly; you will receive (1% – .20% x 85% payout)
Our form ADV-Part 2 describes the advisory platform and is available here for your viewing: ADV-Part 2
What can you tell me about your back office platform and online/research offerings to me and my customers?
- CSS and WMX – full back office suite, account lookup, trading, activity and RR and client reports
- Bond pro – bond trading, bid and offers wanted, dealer listings, inventories, and security descriptions
- Hilltop Client EXP – For Your Clients – real time online account lookup information and reports.
- Advisor insight – a full equities and mutual fund research suite
- Dorsey Wright – stock market research – subscription required.
- Web Site Development – Advisor Launchpad – web site development for yourself or your DBA, compliance approved, updated monthly, professionally done and inexpensive.
We offer VA sales directly through Lombard Agency, a subsidiary of Lombard Securities. For outside insurance product Lombard has partnered with National Brokerage Associates, of Rockville MD, a national insurance brokerage for sales and support of a large range of insurance products. As a Lombard registered broker selling insurance product, your payout is always 100% of the insurance commission that is obtainable from the underwriter. National is available for product help and information, and customer support for all of your insurance business needs.
Lombard pays the following percentages to RRs after ticket charges:
(All payout are based on calendar year production)
Under $50,000 gross: 60%
Between 50,000 and $200,000 gross: 80%
Above $200,000 gross: 85%
*Special Payout of 90% on all business done above 300,000 during each calendar year.
*The 80% and 85% payout rates are retroactive to day 1. If you are al the lower payout and reach either of these levels before the end of the calendar year, you will be paid on all business at the higher rate for the entire year.
These payouts are the same for all products including variable products sales and advisory fees earned through Lombard Advisers.
Your total gross is defined by combining all securities sales charges, commissions, 12b1s, markups, insurance commissions though us, plus any investment advisory fees.
Any outside insurance business written through our partner, National Brokerage Assc. will count toward your total gross commissions for percentage payout purposes.
For equities and options:
Equities: $26.00 flat
Options: 26.00 minimum ($1 per contract on orders larger than 26 contracts)
Bonds: 22.00 Mortgage Backed Securities: 27.00 UITs: 22.00
Mutual Funds through clearing firm: 10.00 Exchanges 5.00 per side
PIPS and SWIPS – 2.50
- Annual branch office fee: 195 – if you are considered branch office location
- State Registration Fee: Varies depending on annual state fee:
- Firm Element Continuing Education- $25 per year through an online vendor
- Regulatory Element Continuing Education – $56.00 every three years
- E&O Insurance is billed at 205.00 per month for 11 months – (Jan – Nov) (2250 per year)
- Changes to your CRD file such as new state registrations or disclosures: these are billed to us monthly and are passed on as they occur.
- There are absolutely no technology, back office or compliance fees.
- Disclosure reporting fees entered on FINRA CRD system are passed on to registered personnel on a per occurrence basis.