Two New York hybrids merge, creating $2 billion firm

Bernard Herold & Co., Inc., a New York-based hybrid, and Lantern Investments, a Melville, New York-based hybrid, have merged to form Herold & Lantern Investments.

The combined firm, which is headed by Keith Lanton, president, and Larry Herold, chief operating officer, has more than $2 billion in assets and 60 employees, the company said in a release.

[More: LPL sees more industry consolidation coming]

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