Bristol Financial

What Bristol Financial does

Bristol Financial (operating as Lebenthal Financial Services, Inc. since a 2019 rebrand) is a privately held, full-service independent broker-dealer headquartered in Jericho, New York, with an additional branch in Hauppauge, NY. The firm traces its operating lineage to 1968, when founding partner Milton Koenigsberg established his own broker-dealer; Michael Hartzman joined in 1992, was appointed President in 1994, and led the founding of Bristol Financial as a broker-dealer in 2005. The company is a member of FINRA and SIPC and signs the Broker Protocol, and operates within the regulatory and licensing footprint covering 25+ US states/territories for securities and a comparable set for insurance.

The firm offers a comprehensive suite of financial and retirement planning products: IRAs, Simple Plans, 401K, 403B and non-qualified plans; mutual funds, annuities, individual securities, life and long-term care insurance; wrap and advisory accounts and asset-allocated portfolios; college planning; and employee benefit programs (including non-qualified deferred compensation). Trading, custody, and clearing are provided through Raymond James and Associates (transitioned from Pershing in 2018). Bristol Asset Management, a wholly owned RIA formed in 2009, layers fee-based advisory services on top of the commission-based broker-dealer business. There is no proprietary technology stack; the firm relies on the Raymond James clearing and brokerage platform.

The business model is a horizontal, persona-segmented approach targeting three primary groups: business owners of growing and mature companies, individuals and families, and affluent/emerging affluent/suddenly affluent clients. Revenue is generated through transaction commissions, advisory fees (Bristol Asset Management), and insurance product commissions, with pricing quoted based on individual client circumstances. Go-to-market is overwhelmingly relationship-driven: face-to-face advisory meetings, referrals from a professional network (notably the Diversified Financial Consultants partnership formed in 2013 and co-hosted events with Bollaci Law on estate planning), content marketing through Michael Hartzman's regular 50+ Lifestyles articles and "The Hartbeat" newsletter, client appreciation events such as the annual brunch at Cold Spring Country Club, and organic social media. The firm reported surpassing $300 million in assets under management in 2014, though no more recent AUM figure is publicly available.

Name

Bristol Financial

Legal name

Lebenthal Financial Services, Inc.

Website

https://bristol-financial.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Bristol Financial (dba Lebenthal Financial Services, Inc.) is a Jericho, NY-based full-service independent broker-dealer offering retirement planning, investment advisory, and insurance products to individuals, families, business owners, and affluent clients across 25+ US states via the Raymond James clearing platform.

Ownership category

akta.pro rank

Headquarters

HQ city

Jericho

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Broker-Dealer Services: Full-service independent broker-dealer offering IRAs, Simple Plans, 401K, 403B, Non-Qualified Plans, Mutual Funds, Annuities, Individual Securities, Life and Long-Term Care Insurance, Wrap and Advisory Accounts, Asset Allocated Portfolios, and College Planning. Revenue generated through commissions on securities transactions, advisory fees, and insurance product sales.
2. Financial Planning Services: Financial planning for individuals, families, business owners and executives including estate planning, retirement planning, tax-efficient investment solutions, and employee benefit programs.
3. Investment Advisory Services: Bristol Asset Management, a registered investment advisory formed in 2009, provides asset management services with asset allocated portfolios.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Bristol Financial Services is a full-service independent broker-dealer providing financial and retirement planning services. Core offerings include retirement accounts (IRAs, Simple Plans, 401K, 403B, Non-Qualified Plans), investment products (mutual funds, annuities, individual securities), life and long-term care insurance, wrap and advisory accounts, asset-allocated portfolios, college planning, estate planning, and employee benefit programs for businesses. Securities are offered through Lebenthal Financial Services (member FINRA-SIPC) with Raymond James as the clearing firm, and the firm operates an affiliated registered investment advisor, Bristol Asset Management.

Product overview

Bristol Financial (now Lebenthal Financial Services, Inc.) is a full-service independent broker-dealer offering a comprehensive suite of financial planning and investment services. The firm operates through its main broker-dealer entity and Bristol Asset Management, a registered investment advisory (RIA) subsidiary. Core offerings include retirement accounts (IRAs, 401K, 403B, Simple Plans), investment products (mutual funds, annuities, individual securities), insurance solutions (life and long-term care), and advisory services (wrap accounts, asset allocated portfolios). The firm also serves business owners through employee benefit programs, retirement planning consulting, and non-qualified deferred compensation plans. Clearing and custody services are provided through Raymond James and Associates, Inc.

Differentiator

Problem solved

Functional benefit

Products and services

• IRAs and Retirement Accounts Individual Retirement Accounts (IRAs), Simple Plans, 401K, 403B, and Non-Qualified Plans for retirement savings and planning, offered to individuals and families.
• Mutual Funds and Annuities Investment products including mutual funds, fixed annuities, and variable annuities for wealth accumulation and retirement income, offered to individuals and families.
• Individual Securities Stock, bond, and other individual security investments tailored to client objectives, offered through the broker-dealer.
• Life and Long-Term Care Insurance Insurance products providing life insurance coverage and long-term care protection for individuals and families.
• Wrap and Advisory Accounts Fee-based advisory accounts providing professional portfolio management and oversight for clients.
• Asset Allocated Portfolios Strategically diversified investment portfolios allocated across asset classes based on client risk tolerance and goals.
• College Planning Education savings strategies including 529 plans and other vehicles for funding higher education, offered to families.
• Employee Benefit Programs Comprehensive employee benefit solutions including retirement planning consulting, life insurance planning, and non-qualified deferred compensation for businesses.
• Bristol Asset Management Registered investment advisory (RIA) subsidiary providing professional asset management services and asset-allocated portfolios alongside the broker-dealer operations.

Quantifiable outcome

• $300 million in assets under management (2014)

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Dominick Tavella / Diversified Financial ConsultantscoreStrategic or Co-development Partner · 1 January 2013Strategic partnership formed in 2013 with Dominick Tavella, President of Diversified Financial Consultants, located in Bellmore, NY. Partner provides additional expertise and referral network for the firm.
• Raymond James and Associates, Inc.coreTechnology or IntegrationClearing firm used by Bristol Financial. Firm completed transition to Raymond James in 2018. Raymond James backs up important records in geographically separate area. Provides business continuity support including alternate contact (727-567-1000, 800-248-8863).
• Harold Bollaci / Bollaci LawminorStrategic or Co-development PartnerAttorney who co-presents client events on estate planning topics including wills and trusts. Co-hosted wine tasting client event with Michael Hartzman.
• Cold Spring Country ClubminorOthersVenue for annual Client Appreciation Brunch, located on East Gate Drive in Huntington, NY.

Scale indicators3 records

Recent moves11 records

Expansion highlights5 records

Market position

Competitive moat4 records

Customer concentration

• LinkedInlinkedin.com/company/bristol-financial-services-inc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bristol Financial