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Lenox Advisors, Inc Integrating financial security into financial success

Lenox Welcome Brochure 0209

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Overview of Lenox Advisors

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Page 1: Lenox Welcome Brochure 0209

Lenox Advisors, Inc

Integrating financial security into financial success

Page 2: Lenox Welcome Brochure 0209

Private Wealth Management ○

Fee-Based Financial Planning/Lenox CFO > ™

Asset Management >

Insurance Brokerage ○

Life Insurance >

Disability Income Insurance >

Long Term Care Insurance >

Annuities >

Lenox Corporate Benefits ○

Group Insurance Benefits >

Corporate Executive Carve-Out Insurance Programs >

Lenox RPC > ™ (Retirement Plan Consultancy) Platform

Lenox Advisors is a unique wealth advisory firm focusing on high-net-worth individuals, including

corporate executives, business owners and entrepreneurs. Most of our clients retain us to be their

“personal CFO.” We coordinate all aspects of their financial lives, including retirement planning, asset

management, risk management, estate planning, insurance, children’s college education, etc. For our

corporate clients, we advise them on all different types of benefit programs and qualified plans for

their employees, including customized executive carve-out insurance programs for senior executives.

Welcome to Lenox Advisors

Lenox Advisors offers:

Page 3: Lenox Welcome Brochure 0209

page 1

“We help our clients realize their dreams by integrating and overseeing virtually every

aspect of their financial lives.”

Michael Book, Managing Partner, Lenox Advisors

Achieving financial success does not always simplify life. In fact, affluence generally increases the complexity of the decision-making process. The greater one’s wealth, the more time and knowledge must be invested in maintaining its growth, protection and ultimate distribution.

Attorneys, accountants, insurance brokers and financial planners can offer invaluable advice, but most offer services independent of one another. It is often up to their clients to sift through the individual recommendations, evaluating each to determine which are the most appropriate.

The ideal solution is a wealth advisory firm that can help define and achieve each client’s unique, long-term goals through a comprehen-sive, holistic program of investments, tax planning, asset allocation, risk management, insurance, retirement planning and estate planning.

Lenox Advisors helps provide that solution…in an independent, objective and integrated fashion.

A single-source wealth advisory firm for successful executives, affluent individuals, business owners, professional athletes and entertainers, Lenox Advisors provides oversight and strategic management of every aspect of clients’ financial lives, from asset management to financial planning; from risk management and insurance to estate and retirement planning. Lenox Advisors’ highly skilled specialists listen closely to clients, learning their values and goals, then craft the strategies and engineer the follow-through to help ensure continued financial success. Lenox Advisors reduces the complexity in clients’ financial lives, which helps to increase clients’ financial security.

Lenox Advisors counsels not only individuals but also corporate clients, from small firms to global businesses. Designing com petitive, flexible benefit packages is a top priority for successful businesses—and because compensation and benefits often comprise a significant portion of the net worth of affluent individuals—corporate services is a top priority.

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lenox private wealth management

Cash Flow/Retirement ○

Planning“What if” Scenarios >Major Purchase >Expense Modeling Retirement Income, >Distribution and Tax Minimization Strategies

Asset Allocation ○

StrategiesAccount Aggregation ○

Education Funding ○

Estate Planning Strategies ○

Risk Management/ ○

Insurance CoverageLenox Vault for all ○

Personal DocumentsBalance Sheet/Net ○

Worth StatementsLenox Money-Smart ○

Kids™ ProgramFinancial Literacy >ResourcesAge-Based Lesson >Plans for Children

Lenox CFO™

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As their wealth grows, affluent individuals express concern that their financial lives are increasingly

complex. They face a wide array of complicated decisions every day. How can they secure their financial

future, including estate planning, retirement and asset management? How do they communicate their

financial values to their children? What is the best way to care for aging parents? How do they meet

philanthropic aspirations?

“Managing your wealth can be an intimidating process. We turn anxiety into empowerment

by working with our clients to develop a set of financial goals and a game plan for

achieving them.”

Rick Van Benschoten, CFP®, Managing Partner, Lenox Advisors

Clients hire Lenox to become their “personal CFO.” As a single-source financial advocate, Lenox works collaboratively with clients’ advisors to create a focused, vertically integrated strategy that drives all present and future financial-related decision-making. The Lenox CFO™, the firm’s proprietary platform for streamlining the financial planning process, enables Lenox to coordinate each client’s financial matters—asset management, risk management, retirement, insurance, children’s college and estate planning.*

Lenox Advisors’ team of Certified Financial Planners (CFP® pro fessionals), Certified Public Accountants (CPAs) and attorneys work together to provide clients with comprehensive planning advice, continuously, as the economic environment and their personal circumstances change.

Cutting-edge technology gives Lenox Advisors’ clients the ability to organize all of their advisors and assets and consolidate them in the same place, at the same time. This frees them from the smallest (but often the most critical) details of wealth management, giving clients the freedom to devote more time and attention to other important aspects of their lives.

A key differentiator of Lenox is our values-based approach to wealth management and how it threads throughout your relationship with Lenox. All of our recommendations are sourced through your “Money Constitution,” a document reflecting your (and your spouse’s) relationship to money.

For example, what are the values you grew up with and what do you want to pass on to your children? What values do you and your spouse agree and disagree on? What would we have to do together over the next five years for you and your spouse to believe we’ve succeeded in managing your financial affairs?

Realizing that wealth management is a family issue, Lenox has a proprietary platform, the Lenox Money-Smart Kids™ Program, to help parents communicate their financial values and educate their children about money and philanthropy. Lenox knows pre serving generational wealth cannot be accomplished without preserving values.

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lenox private wealth management

Lenox Asset Management

Successful wealth management is a process, not an event. Securing one’s financial future, particularly

in an uncertain economic environment, requires continuous oversight by an integrated team of

financial professionals who are able to provide insightful advice and timely execution against an

agreed-upon set of financial goals. Such oversight provides strategic perspectives on specific issues,

including: What asset allocation is appropriate for your level of risk tolerance? Or, in which accounts

should you own specific investments in order to maximize after-tax returns?

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Access to Separately ○

Managed AccountsMunicipal and Taxable Bond ○

PortfoliosEquities ○

Hedge Funds ○

Real Estate Investment Trusts ○

Commodities-Based Funds ○

Oil and Gas Partnerships ○

Equipment Leasing Programs ○

Mutual Funds ○

Variable Annuities ○

“The one certain way to improve investment returns is to reduce expenses, and the greatest

expense in most investment portfolios is taxes. We believe wealth is amassed by focusing on

after-tax returns, not pretax returns.”

Tom Carstens, Partner, Chief Investment Officer, Lenox Advisors

Lenox Advisors takes the time to listen to clients and understand how they accumulate their wealth: success in a self-built business, inherited money, a concentrated stock holding in a public company. Lenox then structures recommendations based on each client’s particular financial goals, including spending needs, multigenerational estate planning goals, and future philanthropic aspirations. We believe successful asset management should be part of the overall estate, business and financial planning and should not be operated as a stand-alone silo. Thus, all analyses and recommendations are based upon Lenox Advisors’ understanding of each client’s objectives.

Asset AllocAtion Lenox Advisors takes an institutional ap proach to individual investing, encouraging clients to approach their portfolio asset allocation similar to a college endowment or charitable foundation. All asset allocations start with the basic percentage allotments to cash, stocks and bonds in relation to a given time horizon. Diversification into traditional and nontraditional investments within each sector is then added to help increase the return expectation while also effectively helping to reduce the downside risk of the overall portfolio. Emphasizing asset classes and investment vehicles that have little or no correlation in a market cycle helps to increase success.

investment vehicles Lenox Advisors has no proprietary prod-ucts, and utilizes an open architecture through consulting firms that assist in the initial and ongoing due diligence of money managers and hedge funds. Lenox implements portfolios through some of the best money managers and private firms available, and uses passive investments where appropriate.

Asset ownership Often overlooked, asset ownership is an important aspect of investment planning. For example, tax-inefficient investments can possibly be moved to tax-deferred accounts, and assets targeted for future philanthropy or future generations will have different allocations than those assets required for current spending or the current generation. These types of investment details could yield far more in returns than market timing or investment selection.

performAnce And portfolio monitoring Specific goals and monetary aspirations can change over time. Likewise, the cycles of the global markets and the structure of the world economy ebb and flow through the years. Lenox Advisors meets regularly with clients to constantly update the recommended asset allocation, rebalance the overall portfolio or replace the investment vehicle or manager. Any modification is made based on a clear understanding of each client’s current situation and future goals, and on up-to-date economic and investment vehicle analyses.

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Lenox Insurance Brokerage

Life Insurance ○

Disability Income Insurance ○

(Personal and Corporate Sponsored)Long Term Care Insurance ○

(Personal and Corporate Sponsored)Fixed and Variable Annuities ○

Private Placement Life Insurance ○

Private Placement Variable Annuities ○

Home, Auto and Umbrella ○

Liability Insurance*Ownership Structure, Trusts ○

Buy/Sell Agreements (Life and Disability) ○

Key Person Coverage ○

Business Succession Planning ○

*Provided by third-party vendors

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“Insurance planning can be an intimidating process. We focus on educating our clients so

they can make informed decisions on protecting themselves and their families.”

Greg Olsen, CFP®, Partner, Lenox Advisors

Lenox Advisors’ life insurance portfolio consists of products offered by some of the country’s best insurance carriers. Whether the client needs a simple life insurance policy or a more complex private placement life policy, Lenox Advisors’ specialists have the expertise and resources to meet that need.

The ability to earn an income is the bedrock for financial security. What would happen if that were taken away? Lenox understands the importance of disability income insurance, an often overlooked piece of an individual’s financial affairs and specializes in providing the most appropriate coverage for our clients.

And finally, as long-term-care costs continue to rise, about 10 million Americans age 65 and older now depend on long-term-care services, and that number is expected to double by 2040.1 Additionally, an esti-mated 70 percent of people who reach the age of 65 will need some form of long-term care before they die.2 Our long-term-care specialists work with each client to identify the appropriate coverage and carrier that will best protect their assets and preserve their independence.

Selecting the right insurance is a critical element in a com prehensive program of risk management, but it’s only one element. As clients’ lives change, so do their needs. The specialists at Lenox Advisors review with clients their entire portfolio regularly to help minimize risk and maximize financial security.

Because asset protection, risk management and insurance are critical elements in any financial plan,

Lenox Insurance Brokerage customarily reviews clients’ insurance portfolios and identifies the

creative strategies designed to help meet their changing needs at every stage in their lives. Do clients

have the right amount of coverage? Do they have the right policies and carriers? Would an annuity be

an appropriate part of their risk management planning?

1 "Report Projects Future Need for Long-Term Care, Effects on Family and Public Policy." The Urban Institute. 5/7/07.

2 Council of Economic Advisors. Economic Report of the President. Washington, DC: U.S. Government Printing Office. February 2007.

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Lenox Corporate Benefits

Lenox Advisors Group Benefits differentiates itself by having the technology and resources of a large

operation, but providing the personal attention of a smaller, specialized firm. Is your staff trained

and prepared to administer the new HIPAA and COBRA regulations? Have you explored minimum

premium or self-insuring your group benefits? Have you considered a Section 125 plan? Lenox creates

customized, scalable recommendations in an end-to-end service platform. A team staffing structure

provides constant access to professionals in the employee benefits field so that corporate clients can

continue being experts in their own fields.

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Bullet List ○

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“Our group benefits practice is designed around one concept: extraordinary service.

We treat your executives as if they were our own.”

Gregory K. Large, CLU, ChFC, Managing Partner, Lenox Advisors

group Benefits A key resource for our clients is the bswift® HRIS (Human Resources Information System) and benefits tool. It’s an integrated web-based solution that combines benefits, HR and payroll administration. One which includes state-of-the-art technology to help administer online enrollments, detailed reporting, and tracking and performance management. bswift also offers a unique “plug and play” upgrade capability to help offer additional best-in-class service technology as desired.

Corporate clients can also access the Lenox RPC™ (Retirement Plan Consultancy) Platform to help implement and monitor their 401(k) and Defined Benefit Qualified Retirement Plans. It’s designed to help plan sponsors address issues from establishing the Investment Policy Statement to the ongoing selection, monitoring and recommendations of the qualified plan’s investments. Our investment option review is fueled by a unique ScorecardSM System, which includes the rankings of a plan’s investment options in approximately 14 asset classes—a comprehensive process similar to what the largest and most advanced investment institutions utilize.

Lenox Advisors’ proven processes can deliver some of the most productive benefits programs possible for clients, educating and increasing the appreciation and loyalty of their most valuable assets: their human capital.

executive cArve-out / multilife cApABilities At Lenox Advisors, we treat corporate executives as if they were our own. We specialize in designing and implementing corporate voluntary benefit offerings with discounted individual insurance and exec utive benefit strategies.

We have the technology and resources of a large operation, but provide the personal attention of a specialty firm. With a national presence, we can execute voluntary benefit programs on a face-to-face basis.

When companies endorse Lenox Advisors to provide objective assess-ments of their executives’ individual insurance coverage, we take this as a serious responsibility—to them, their executives and ourselves.

We use web-based technology enabling us to efficiently and effectively ensure that your executives are getting individualized attention every step of the enrollment and application process.

Lenox Advisors’ expertise, personalized support and admin istrative capabilities yield higher participation levels in employer-sponsored voluntary insurance offerings than you may have thought possible.

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Lenox Corporate Benefits

bswift ○ ® HRIS (Human Resources Information System) TechnologyGroup Benefits Brokerage ○

and Consulting Health and Welfare ○

Disability/LTD ○

Group Life Programs ○

State DBL Programs ○

STD/A.S.O. Programs ○

Voluntary Benefit Programs ○

Executive Carve-Out Programs ○

Lenox RPC ○ ™ (Retirement Plan Consultancy) Platform

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Lenox provides personalized benefits consultation for executives: Our team of highly skilled experts meet one-on-one with every ○

executive to discuss his or her unique situation. We do not inundate executives with marketing materials and enrollment ○

or application forms. We sit down, face to face, and review the offerings. Executives can gain a deeper personal understanding of the benefits ○

offered, how they work with the existing coverage and fit into their overall financial portfolios.We save human resource professionals valuable time by being the ○

point people who field executives’ questions and inquiries.

Executives gain access to a firm that Investment Advisor mag azine describes as the “epitome of wealth management done right.”*

With Lenox Advisors, executives are introduced to knowledgeable and ○

highly skilled professionals; professionals who will help them seize unique opportunities while saving them time, effort and frustration. Our parent company, National Financial Partners (NYSE:NFP) provides ○

us access to a wide range of insurance carriers and the critical mass needed to negotiate favorable rates. This enables us to identify appropri-ate strategies designed to help meet your executives’ specific needs.Our corporate programs usually allow for discounted rates not available ○

in the individual retail market. We can often leverage the industry’s leading electronic application ○

technology to help maximize the efficiency of your executives’ benefits experience.

Lenox adds value without adding cost or administration.Our voluntary offerings cost companies nothing. The employees ○

choose to apply and pay for the offerings. There is little or no ad dit ional administrative burden to your firm. We ○

can do virtually everything:Coordinate and manage insurance carrier and vendor relationships >Oversee underwriting processes >Plan and execute employee communications >Offer one-on-one and online educational and application services >

Our web-based technology allows us to monitor every detail of the ○

enrollment and application process to help ensure that your program is successfully implemented. We develop communications that reinforce your key messages and ○

philosophy about benefits. We find good communications result in better and more effective perceptions of the program itself as well as its follow-on messages.Our personalized service extends well beyond underwriting and ○

delivery of the policy. Whether it’s a general question about the policy, a need to revise coverage policy or even the need to initiate a claim, the employee can deal directly with his or her Lenox representative. Companies gain value by providing a tremendous opportunity for ○

executives to get something they may not be able to get elsewhere. Companies are helping executives secure their financial future and demonstrating in a very real way that they are important. Showing you care goes a long way in the race to attract and retain talent.

Imagine working with Lenox Advisors and accumulating good will from your executives without

bearing additional administrative burden and costs.

*Investment Advisor, July 2006

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Independence, Objectivity and Integration

It takes the combined expertise of a team of trusted advisors—attorneys, accountants, insurance

brokers and financial planners—working in concert, collaboratively and seamlessly, to help assure

financial security. Lenox Advisors integrates financial security into financial success by delivering an

unprecedented level of specialized expertise and personalized service entirely focused on helping our

clients grow, protect and distribute their wealth.

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Lenox Advisors’ approach is founded on building a deep understand-ing of the unique needs of each client. It is Lenox’s mission to become aware of the changes in clients’ life circumstances in order to antici-pate and respond creatively to new risks and emerging opportunities. The end result is a coordinated financial plan, updated regularly, that will help meet each client’s individualized wealth management goals.

Lenox is a part of National Financial Partners (NFP), a publicly traded company focused on the distribution of financial services to high-net-worth individuals and growing entrepreneurial companies. This gives Lenox the ability to offer its clients the benefits of objective, independent advice together with all the resources of a leading national organization.

For further information, call Lenox Advisors at (212) 536-8700, email them at [email protected] or visit the firm’s website at www.lenoxadvisors.com.

“It’s no surprise that our business is built almost entirely from referrals

from clients, accountants and attorneys.”

Thomas Henske, CFP®, Partner, Lenox Advisors

Page 16: Lenox Welcome Brochure 0209

Corporate Headquarters530 Fifth Avenue11th FloorNew York, NY 10036Tel: (212) 536-8700

Two Stamford Plaza281 Tresser BoulevardSuite 1004Stamford, CT 06901Tel: (203) 978-2200

300 South Wacker Drive8th Floor Chicago, IL 60606Tel: (312) 347-1680

535 Pacific Avenue 2nd FloorSan Francisco, CA 94133Tel: (415) 486-2180

www.lenoxadvisors.com

[email protected]

National Financial Partners Corp. (NFP), 340 Madison Avenue, 19th Floor, New York, NY 10173, (212) 301-4000, www.nfp.com

National Financial Partners Corp. (NYSE: NFP) is a national network of owned and affiliated independent financial advisors specializing in life insurance and wealth transfer, corporate and executive benefits, and financial planning and investment advisory. Founded in 1998, NFP provides its independent financial advisors access to financial products and services offered by some of the industry’s leading companies, along with the support of our infrastructure and intellectual capital. NFP Firms are motivated to expand their competitive position and enhance their ability to better serve their clients—all while preserving the entrepreneurial independence that makes them top producers in their field. NFP’s national network consists of over 180 owned firms and more than 320 members in 41 states and Puerto Rico.

*Estate planning is done in conjunction with your estate planning attorney, tax attorney and/or CPA.

Fee-based financial planning services offered through Lenox Advisors, Inc. Lenox Advisors, Inc., offers access to securities and asset management services through MML Investors Services, Inc., 530 5th Avenue, 14th Floor, New York, NY 10036, (212) 536-6000, member SIPC.

Investment adviser representatives of Lenox Advisors, Inc. offering fee-based financial planning services may also be registered representatives and investment adviser representatives of MML Investors Services, Inc. for purposes of offering securities and asset management services, as applicable.

Lenox Advisors, Inc. is a wholly owned subsidiary of National Financial Partners Corp. (NFP). Lenox Advisors, Inc. and NFP are not affiliates or subsidiaries of MML Inves-tors Services, Inc. Services offered through Lenox Advisors, Inc. as an Independent Registered Investment Advisor are not sponsored or offered through MML Investors Services, Inc.

For more information:www.lenoxadvisors.com

Compliance #CRN-201101-115495