Michael Lomas
Michael Lomas is a registered investment advisor at Independent Solutions Wealth Management, LLC, based in Williamsville, NY, with 29 years of industry experience. Michael operates on a fee-only basis, meaning they do not earn commissions from product sales. Their practice areas include Business Owners, Estate Planning, Financial Planning & Coaching, High Net Worth, and 4 more. Their firm serves 3,774 clients with $1.2B in assets under management.
Compensation
Firm Size
Number of Clients
Average Client Portfolio
Assets Under Management
Fee Structure
Independent Solutions Wealth Management offers several investment management options:
- Mutual Fund Portfolio Management: Fees range up to 2.50% of the portfolio's value.
- ETF Portfolio Management: Fees range up to 2.50% of the portfolio's value.
- Stock Portfolio Management: Fees range up to 2.75% of the portfolio's value. A minimum account balance of $100,000 is required, but may be waived.
- Third-Party Manager Selection: Fees range up to 2.50% of the portfolio's value, in addition to the third-party manager's fees.
Fees are billed quarterly in arrears based on the average daily balance of the previous quarter. Fees may be waived or negotiated.
Location
305 Spindrift Drive, Williamsville, NY, 14221
Get directionsHistory
Regulatory History (5)
Customer Dispute
August 2016Customer Dispute
May 2013Customer Dispute
April 2011Customer Dispute
August 2010Customer Dispute
January 2000Other Business ActivitiesSells Insurance
Michael has several business activities, including ownership in Independent Solutions Wealth Managment, LLC, Financial Guys, LLC, Neiman Funds Management, Peak Reps, LLC, The Financial Guys Insurance, LLC, 305 Spindrift, LLC, Peak Brokerage Services, LLC, Mochua Properties LLC, The Financial Guys Media, and Lomas Motorsports. He also works in insurance sales, including Medicare/Medicaid and property and casualty insurance, and is a mutual funds advisor.
Employment History
Current Registrations
Independent Solutions Wealth Management, LLC
Peak Brokerage Services, LLCBroker
Previous Registrations
Next Financial Group, INC.
Next Financial Group, INC.Broker
Painewebber IncorporatedBroker
Financial Network Investment CorporationBroker
State Registrations34 states
You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.