Lincoln Investment has been in business for over 50 years and offers comprehensive financial planning and investment services to clients. As one of the largest registered investment advisors in the U.S., Lincoln Investment manages over $30 billion in assets. However, despite its long history and large size, Lincoln Investment has received mixed reviews from both financial advisors and clients over the years. Here we’ll take an in-depth, objective look at Lincoln Investment, including its history, services, fees, and pros and cons.
Lincoln Investment’s History and Company Overview
Lincoln Investment was founded in 1968 in Nebraska by J.J. Hauff. It started as a broker-dealer but later expanded to offer comprehensive financial planning and investment management services. Today, Lincoln Investment has over 1,300 financial advisors across 400+ offices in the U.S. It is owned by Lincoln Financial Group, one of the largest insurance and investment companies in America.
Investment Products and Services Offered by Lincoln Investment
Lincoln Investment provides a wide array of investment products and services to both individual clients and businesses:
– Financial planning – retirement, estate, insurance, etc.
– Portfolio management – stocks, bonds, ETFs, mutual funds
– Alternative investments – REITs, oil/gas programs, etc.
– Annuities – fixed, indexed, variable, etc.
– Managed accounts – target date, target risk, etc.
– 401(k) plans for businesses
– Education savings plans
The company takes a goals-based approach to financial planning and offers both fee-based and commission-based investment products.
Fees and Commissions Charged by Lincoln Investment
Lincoln Investment offers both fee-based and commission-based accounts.
For fee-based accounts, there is an annual asset management fee ranging from 0.5% to over 2% depending on account size and services. There may also be additional administrative fees.
For commission-based accounts, Lincoln Investment representatives earn commissions when clients purchase investment products like annuities or certain mutual funds. These commissions can range from 1% to over 10% of the amount invested.
Overall, Lincoln Investment’s fees are fairly typical for full-service brokerage firms. However, some investors may be able to find lower-cost options at online discount brokers.
Pros of Using Lincoln Investment
There are several potential benefits to using Lincoln Investment:
– Wide range of financial products and services
– Local office and dedicated representative
– Long track record and strong financial backing
– Various account types: IRA, 529 college savings, etc.
– Educational resources for investors
For investors who want personalized guidance and access to more sophisticated products, Lincoln Investment can be a good option.
Cons of Using Lincoln Investment
Some downsides investors should be aware of include:
– Relatively high fees compared to online discount brokers
– Potential conflicts of interest with commission-based pay
– Many advisor complaints filed over sales practices
– High account minimums in some cases
– Limited proprietary mutual fund selection
Overall, investors should carefully weigh the costs versus the benefits when considering Lincoln Investment.
In summary, Lincoln Investment is a large investment firm with a wide range of products and services, but also relatively high fees in many cases. Investors should thoroughly research the background, pay structure, and costs before committing to any financial advisor or company like Lincoln Investment.