# Lincoln Investment

> Lincoln Investment is an SEC-registered investment advisory firm in Fort Washington, PA, registered since 1978, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 20, 2026.

- CRD: 519
- Filed as: LINCOLN INVESTMENT
- Legal name: Lincoln Investment Planning, LLC
- Also doing business as: CMW, CREATING AND MANAGING WEALTH, FINANCIAL DIRECTORS, GABOR FINANCIAL SOLUTIONS, SHELGREN FINANCIAL GROUP, THE GABOR AGENCY, THE LEGEND GROUP, THE LINCOLN INVESTMENT COMPANIES, THE VOYAGER GROUP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Fort Washington, PA
- Filing period: October 2026
- Form ADV filing dated: July 20, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/519
- AdvisorCensus page: https://advisorcensus.com/firm/lincoln-investment-fort-washington-pa-519

## Quick answers

**How is Lincoln Investment compensated?**
On its Form ADV (Item 5.E, October 2026), Lincoln Investment reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); commissions.

**Where is Lincoln Investment located?**
Lincoln Investment's principal office is in Fort Washington, PA, according to its Form ADV; the August 2026 filing also lists 25 other offices (Schedule D, Section 1.F).

**Is Lincoln Investment registered with the SEC or a state?**
Lincoln Investment is an SEC-registered investment advisory firm, registered since 1978. Status as filed: Approved. CRD 519.

**How much does Lincoln Investment manage?**
Lincoln Investment reports $21,994,851,422 in regulatory assets under management in its Form ADV filing dated July 20, 2026 (59% discretionary).

**How have Lincoln Investment's assets and staff changed since 2021?**
In the Form ADV data for Lincoln Investment: Regulatory assets under management: $15,286,555,211 in the October 2021 data and $21,994,851,422 in the October 2026 data, up 44%. Total employees: 1,317 in October 2021 and 1,238 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Lincoln Investment serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (133,528); high net worth individuals (4,604); corporations or other businesses not listed above (181).

**Which custodians does Lincoln Investment use?**
Lincoln Investment's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Pershing LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Lincoln Investment report any disciplinary disclosures?**
Reports 7 disclosure items on Form ADV Item 11: yes answers to 1 question about criminal matters and 6 questions about regulatory matters (11.A(2), 11.C(1), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.E(2)). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/519

**What changed in Lincoln Investment's recent Form ADV filings?**
In the May 2026 filing data: Registered or notice-filed in WY.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Commissions

### Custodians (Schedule D, Section 5.K(3))
- Pershing LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $21,994,851,422
- Discretionary: $12,945,459,856
- Non-discretionary: $9,049,391,566

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 133,528 | $17,421,790,481 |
| High net worth individuals | 4,604 | $4,301,655,180 |
| Banking or thrift institutions | Fewer than 5 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 15 | $30,346,046 |
| Charitable organizations | 41 | $38,069,096 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | Not reported |
| Other investment advisers | Fewer than 5 | Not reported |
| Insurance companies | Fewer than 5 | Not reported |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | Not reported |
| Corporations or other businesses not listed above | 181 | $202,990,619 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1978 (48 years)
- Employees: 1,238 total, 874 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 7 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.A(2): In the past ten years, has the firm or an advisory affiliate been charged with a felony?
- 11.C(1): Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.E(2): Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/519

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Albemarle, NC
- Amherst, NY
- Atlanta, GA
- Bethlehem, PA
- Braintree, MA
- Carmel, IN
- Cleveland, OH
- Farmington Hills, MI
- Horsham, PA
- Independence, OH
- Jacksonville, FL
- Joliet, IL
- Land O Lakes, FL
- Lombard, IL
- Lutz, FL
- Marlton, NJ
- Phoenix, AZ
- Renton, WA
- Rochester, NY
- Royal Oak, MI
- Shaker Heights, OH
- Syracuse, NY
- Tallahassee, FL
- Woodland Hills, CA
- Worcester, MA

### Websites listed on Form ADV (Item 1.I)
- cmwfinancial.com
- financial-directors.com
- gaborfs.com
- lincolninvestment.com
- shelgrenfinancial.com
- voyagergroupltd.com
- Facebook @LINCOLNINVESTMENT
- Facebook @cmwfinancial
- Facebook @lincolninvestmentnova
- Facebook @shelgrenfinancial
- Instagram @lincolninvestment
- LinkedIn @creating-and-managing-wealth-llc
- LinkedIn @financial-directors-llc
- LinkedIn @gabor-financial-solutions
- LinkedIn @lincoln-investment-planning
- LinkedIn @the-legend-group
- X @LINCOLNINVEST

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $15,286,555,211 | 1,317 | March 30, 2021 |
| October 2022 | $17,732,411,365 | 1,314 | August 31, 2022 |
| October 2023 | $15,355,839,022 | 1,294 | March 31, 2023 |
| October 2024 | $17,218,143,141 | 1,297 | April 18, 2024 |
| October 2025 | $18,904,482,714 | 1,293 | March 31, 2025 |
| October 2026 | $21,994,851,422 | 1,238 | July 20, 2026 |

Regulatory assets under management: $15,286,555,211 in the October 2021 data and $21,994,851,422 in the October 2026 data, up 44%.
Total employees: 1,317 in October 2021 and 1,238 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Registered or notice-filed in WY.

### April 2026
- Added the business name The Lincoln Investment Companies.
- Added the business name Creating and Managing Wealth.
- Added the business name The Voyager Group.
- Added the business name CMW.
- Employees performing advisory functions went from 894 to 874.
- Regulatory assets under management went from $18,904,482,714 to $21,994,851,422 (+16%).
- Added an office in Atlanta, GA.
- Added an office in Jacksonville, FL.
- Added an office in Joliet, IL.
- Added an office in Worcester, MA.
- No longer lists an office in Bohemia, NY.
- No longer lists an office in Cranford, NJ.
- No longer lists an office in Waltham, MA.
- No longer lists an office in Wexford, PA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lincoln Investment (CRD 519): Form ADV filing data as of October 2026.