Napa, CA Office

L&S Advisors serves individuals (including high-net-worth clients), trusts, businesses, and both plan sponsors and participants, providing discretionary investment management, financial planning, retirement-plan consulting, and sub‑advisory services. The firm manages about $1.16 billion across roughly 1,054 client accounts through a team of 12 advisors and also supports participant “held‑away” accounts via a third‑party platform (Pontera).

The firm’s investment approach is tactical and unconstrained, applying a range of named strategies (e.g., Tactical Equity Opportunities, Tactical Equity Income, Core/Core‑Select, and several fixed‑income and alternative strategies) that can include concentrated sector positions, ETFs, individual equities, municipal and corporate bonds, and private alternatives. L&S’s brochure discloses active use of derivatives (covered calls, long puts and, in rare cases with client consent, uncovered options) and the use of margin/borrowing in managed accounts, and it documents periodic performance reporting and portfolio reviews.

What is distinctive for a team firm of this size is L&S’s explicit participation in wrap fee programs and its combination of features not often seen together: documented use of derivatives and margin in separately managed accounts, management of wrap and held‑away program accounts, regular performance reporting, and reliance on third‑party vendors for proxy voting (Institutional Shareholder Services) and custodial relationships (Schwab/Fidelity). The brochure also details trade aggregation and block‑trading practices and a range of private investment vehicles (private REITs, private equity, private lending, and interval funds), underscoring a breadth of implementation tools beyond standard long‑only equity and fixed‑income management.