In 2013 the prominent newsletter author, Forbes columnist, and money manager Richard Lehmann decided to join forces with two other noted investment expert teams to form Lehmann, Livian, Fridson Advisors, LLC (LLFA). We are an SEC registered investment adviser based in New York City and we manage investment portfolios for investors across the US.
Our mission is to create a profitable and sound investment program for every client. We focus on keeping investment expenses low and utilizing tax-efficient strategies. These techniques are particularly important to the success of income-oriented investors. Continuous and thoroughgoing risk management is the cornerstone of our investment process.
Consistent with our goal of achieving the steadiest possible performance in all economic environments, we diversify our clients’ holdings over several types of income-generating instruments. We believe that helping an individual or family build a sound financial future depends on listening carefully and developing trust. Before designing a personalized portfolio, we take the time to learn about the client’s life goals, income needs, investment objectives, risk tolerance, and tax situation. This close communication continues as market conditions and the client’s requirements change. We are always ready to respond to questions and suggestions from everyone we are privileged to serve.
C. Richard Lehmann
Strategic Advisor to LLFA
Mr. Lehmann founded the Bond Investors Association (BIA) in 1983 as an information organization for individual bondholders. He has authored numerous articles on bonds and fixed income investing in both financial column and book form. He has taught finance and accounting in the MBA program at Barry University in Miami and has spoken at numerous investment seminars. Mr. Lehmann holds an MBA from Columbia University and he is a CPA.
Michael Livian, CFA
Chief Executive Officer
Michael Livian is the founder and CEO of Livian & Co. He has over 20 years of experience in the financial services industry. He was the Chairman of the Executive Committee and Head of Asset Management at Safdie Investment Services Corp. (subsidiary of the Swiss private bank, Banque Safdie). Mr. Livian holds a summa cum-laude MSc degree in Economics from the University of Milan. He has published several academic articles and books on quantitative finance, fixed income and equity valuation. He is CFA charterholder, a member of the New York Society of Security Analysts (NYSSA) and the co-chair person of the Private Wealth Management Committee at NYSSA.
Martin Fridson, CFA
Chief Investment Officer
Martin Fridson is “perhaps the most well-known figure in the high yield world,” according to Investment Dealers’ Digest. Fridson received his B.A. cum laude in history from Harvard College and his M.B.A. from Harvard Business School. He has served as president of the Fixed Income Analysts Society, governor of the Association for Investment Management and Research (now the CFA Institute), and director of the New York Society of Security Analysts. In 2000, he became the youngest person ever inducted into the Fixed Income Analysts Society Hall of Fame. Fridson was among the ten most widely published authors in finance in the period 1990-2001. In 2013 Fridson served as Special Assistant to the Director for Deferred Compensation, Office of Management and the Budget, The City of New York. In 2000, The Green Magazine called Fridson’s Financial Statement Analysis "one of the most useful investment books ever.”
“There are three key requirements for investment success: a long-term horizon, a strong discipline, and the ability to control one's emotions. Most investors fail at the third one"
Michael Livian, CFA