Lipe & Dalton Investment Counsel

Lipe & Dalton provides discretionary investment supervisory services and continuous portfolio management to individuals (including high‑net‑worth clients), pension and profit‑sharing plans, and charitable organizations, managing approximately $779.9 million in discretionary client assets. The firm offers individualized portfolio construction across a broad range of securities and permits client‑imposed restrictions on investments and sectors.

The firm’s investment process combines fundamental, quantitative, and qualitative analysis, with a focus on asset allocation and both long‑ and short‑term purchase strategies; it may recommend instruments such as structured bonds where suitable. Accounts are reviewed at least quarterly, and the firm typically aggregates and blocks trades to seek best execution while conducting trading and custody primarily through a major custodian.

Distinctive operational features disclosed in the brochure include a high level of assets relative to the adviser headcount (resulting in notably high AUM per advisor) and formal solicitor referral arrangements under which the firm pays referral fees. The firm also describes a written cross‑trade policy that requires disclosure when a principal is the counterparty and reports that it obtained no soft‑dollar products or services in the last fiscal year.