AdvisorCensus / Financial advisors / New Hampshire / Manchester / Lumbard & Kellner, LLC
Lumbard & Kellner, LLC is an SEC-registered investment advisory firm in Hollis, NH, registered since 2003, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 16, 2026.
Quick answers
From the filingHow is Lumbard & Kellner, LLC compensated?
On its Form ADV (Item 5.E, October 2026), Lumbard & Kellner, LLC reports these compensation arrangements: a percentage of assets under its management.
What does Lumbard & Kellner, LLC's brochure say about its fees?
Its Form ADV Part 2A brochure dated March 16, 2026 states: Up to $500,000: 1.1% a year; $500,000 to $1,500,000: 0.8% a year; Above $1,500,000: 0.5% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Lumbard & Kellner, LLC located?
Lumbard & Kellner, LLC's principal office is in Hollis, NH, according to its Form ADV.
Is Lumbard & Kellner, LLC registered with the SEC or a state?
Lumbard & Kellner, LLC is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 117196.
How much does Lumbard & Kellner, LLC manage?
Lumbard & Kellner, LLC reports $443,616,831 in regulatory assets under management in its Form ADV filing dated March 16, 2026 (100% discretionary).
How have Lumbard & Kellner, LLC's assets and staff changed since 2021?
In the Form ADV data for Lumbard & Kellner, LLC: Regulatory assets under management: $280,300,755 in the October 2021 data and $443,616,831 in the October 2026 data, up 58%. Total employees: 4 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Lumbard & Kellner, LLC serve?
By number of clients on Form ADV Item 5.D: high net worth individuals (249); individuals (other than high net worth individuals) (67); charitable organizations (3).
Which custodians does Lumbard & Kellner, LLC use?
Lumbard & Kellner, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and US Bank as custodians holding 10% or more of its separately managed account assets.
Does Lumbard & Kellner, LLC report any disciplinary disclosures?
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/117196
Does Lumbard & Kellner, LLC state an account minimum?
Its Form ADV Part 2A brochure dated March 16, 2026 says: "The firm requires a new account to be a minimum of $1.5 million in assets; this can be spread over multiple accounts."
What changed in Lumbard & Kellner, LLC's recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $357,178,342 to $443,616,831 (+24%).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2A| Assets | Annual rate |
|---|---|
| Up to $500,000 | 1.1% |
| $500,000 to $1,500,000 | 0.8% |
| Above $1,500,000 | 0.5% |
The brochure's wording
Lumbard & Kellner, LLC charges a percentage of assets under management for its services. Fees are deducted from the custodial account monthly; with fees being collected in arrears.
First $ 500,000 1.10% Next $ 1,000,000 0.80% Above $ 1,500,000 0.50%
Account minimum: $1,500,000
The brochure's wording
The firm requires a new account to be a minimum of $1.5 million in assets; this can be spread over multiple accounts.
As stated in the firm's Form ADV Part 2A brochure dated March 16, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$443,616,831 as of October 2026, filing dated March 16, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2003 (23 years)
- Employees
- Total: 4. Performing investment advisory functions: 3.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- States registered or notice-filed
-
6 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $443,616,831 | 4 | March 16, 2026 |
| October 2025 | $357,178,342 | 4 | March 26, 2025 |
| October 2024 | $350,933,057 | 4 | March 28, 2024 |
| October 2023 | $302,963,653 | 4 | March 22, 2023 |
| October 2022 | $318,396,623 | 4 | March 25, 2022 |
| October 2021 | $280,300,755 | 4 | March 22, 2021 |
Regulatory assets under management: $280,300,755 in the October 2021 data and $443,616,831 in the October 2026 data, up 58%.
Total employees: 4 in October 2021 and 4 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Regulatory assets under management went from $357,178,342 to $443,616,831 (+24%).
- January 2026
- No longer registered or notice-filed in IL.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Lumbard & Kellner, LLC (CRD 117196): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/lumbard-and-kellner-llc-hollis-nh-117196