When our clients succeed, we succeed.

Founded on Fiduciary Principles

The fundamental attributes of Bay Harbor Wealth Management that truly distinguish our firm and our advisors from others can be ascribed to the roots of our firm’s Founder and President, Lance Reid Scott, AIF®.

Lance’s father, who came from a banking background and successfully pursued his entrepreneurial aspirations, taught him at a young age about money and finance. He instilled in Lance the credence “When our clients succeed, we succeed”, which is the philosophy that Bay Harbor Wealth Management was built upon and has been driven by since its inception.

When his father sold his company to a subsidiary of one of the largest banks in France, Lance saw how the wealthiest of individuals were treated in the private banking world and realized these benefits should also be available to mainstream investors. Following in his father’s entrepreneurial footsteps, Lance set out to create a solution that could be the conduit through which individuals, families, and business owners could utilize institutional-level asset management techniques used by large institutions when investing their hard-earned dollars.

With a mission to add a unique value that was lacking in his industry to Maryland investors, Lance founded Bay Harbor Wealth Management in 2011 at the age of 29. To ensure that his philosophy of acting in the interest of his clients’ success was carried out through his business operations, Lance chose to establish his firm as a fiduciary.

Six years after Lance established Bay Harbor Wealth Management, his father passed away unexpectedly. Lance suddenly found himself on the client side of the advisory equation. He was now the family steward, guiding his family through everything from immediate affairs to legacy planning. Though Lance had years of practice advising clients in similar situations, going through it himself gave him a unique perspective from which he gained knowledge that can really only be obtained through experience. This has strengthened his ability to relate to clients and further cemented his dedication to helping individuals and families not just establish strategies for their financial future, but also guide them through the comprehensive aspects of wealth management.