L.M. Kohn is an independent, family-owned, hybrid Registered Investment Adviser (RIA) and Broker-Dealer founded by a financial advisor who was unhappy with the Broker-Dealer and insurance company platforms available in 1990. He wanted to build his dream practice to better serve his clients and created his own Broker-Dealer to do so. Over the last 3 decades, the firm's advisor base has grown organically through referrals from our affiliates, word of mouth, and others who simply heard of us in other ways.
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It was founded in 1990 by Larry M. Kohn so that he could be in full control over his financial advisory practice. He was unhappy with the quotas and restrictions that large insurance and investment firms placed on their financial advisors.
L.M. Kohn is a haven for financial advisors who have built or want to build an independent, lifestyle practice using any mix of fee-based, brokerage, and/or insurance services or products* without the added cost, administration, and headaches of being their own independent entity.Our compliance team works with you - not against you.
L.M. Kohn is a haven for financial advisors who have built or want to build an independent, lifestyle practice using any mix of fee-based, brokerage, and/or insurance services or products* without the added cost, administration, and headaches of being their own independent entity.Our compliance team works with you - not against you.
I founded L.M. Kohn as my dream practice back in 1990. I was unhappy with the limited options available to me at the time, so I created my own Broker-Dealer to have the freedom to run my practice the way I wanted. Back then, I knew that fee-based products would be a big part of the future. Thus, our platform developed and grew with the establishment of the Registered Investment Adviser (RIA) firm with cutting edge fee-based products.
This was prudent for all investment advisory firms who purchased, recommended or held for advisory client's mutual fund share classes that charged 12b-1 fees instead of lower-cost share classes of the same funds for which clients were eligible.
Self-reporting registered investment advisors (hybrid broker/dealers) were required to reimburse clients for all 12b-1 fees, paying disgorgement and prejudgment interest to affected investors, pursuant to a disbursement calculation.It was our opinion that this issue would have a broad sweeping effect on the industry, thus we were shocked to learn that only 79 firms self-reported.
Self-reporting registered investment advisors (hybrid broker/dealers) were required to reimburse clients for all 12b-1 fees, paying disgorgement and prejudgment interest to affected investors, pursuant to a disbursement calculation.It was our opinion that this issue would have a broad sweeping effect on the industry, thus we were shocked to learn that only 79 firms self-reported.
Do you sometimes wish that you knew then what you know now before you picked the financial services firm you're with? Would you have made a different decision? Many financial advisors chose to affiliate with a smaller IBD or RIA because they like being in a small firm. They like comradery and collaboration instead of backstabbing and one-upmanship.
L.M. Kohn has been focused on upgrading and implementing technology tools that build great efficiencies into our advisors' business operations and help them be more responsive to the ever-changing landscape in managing and acquiring clients. Financial Tracking, which is a division of ComplySci, is our digital compliance management system.
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