Squam Lakes Investment Management

About Our Approach

A Time-Tested Philosophy for Modern Markets

At Squam Lakes Investment Management, our approach is rooted in a simple yet powerful principle: disciplined investing, grounded in rigorous analysis and patient execution. We don't chase trends or react to headlines. Instead, we focus on understanding what we own, managing risk thoughtfully, and staying the course through market cycles. By combining timeless investment wisdom with research-driven strategies, we work to preserve and grow your portfolio for the long haul.

What We Do

Personalized Discretionary Management

Your financial goals are unique, and our counsel reflects that. At Squam Lakes Investment Management, we work with you to develop a sound investment policy that aligns with your risk tolerance and long-term outlook. With the authority you grant us, we make thoughtful, well-reasoned decisions to keep your portfolio anchored to its long-term objectives—even as markets fluctuate.

Our Process

A Three-Step Process to Financial Peace of Mind

Initial Consultation & Goal Setting:
‍We start by getting a clear understanding of your financial goals and how you handle market ups and down. This rigorous assessment gives us the insight to build an individualized investment policy that’s precisely tailored to what you want to achieve.
Portfolio Construction:
‍Guided by your investment policy, we invest in quality companies and assets with a single focus: building toward your long-term goals.
Ongoing Monitoring & Adjustments:
‍Markets change—and so may your needs. We regularly meet with you and review your portfolio to ensure it aligns with your long-term objectives, making adjustments as needed to maintain a solid margin of safety.

Third-generation Portfolio Manager

Lance Dwight

I'm the President, Investment Advisor, and Portfolio Manager at Squam Lakes Investment Management. Born and raised in Maine, I married a beautiful Center Harbor native and put down roots in Holderness, where I'm raising two kids and a backyard flock of chickens. When I'm not managing portfolios, I'm chasing my kids around the yard.

The Difference

Your Interests. Nothing Else.

Fee-only:
‍I don't sell products, earn commissions, or manage proprietary funds. My only compensation is a transparent advisory fee tied directly to the value of your portfolio.
Independent:
‍I run a one-person firm not only because I have low tolerance for bad ideas and inefficiencies—which doesn't endear me to corporate management—but because firm-level conflicts of interest warp the guidance clients receive. The CFA Institute—the gold standard in investment ethics—has extensively documented this phenomenon, and those conflicts are extraordinarily difficult to overcome.
Deep understanding of risk:
‍Most advisors leave work at the office. I don't. Investing and wealth preservation aren't just my profession—they're a genuine preoccupation. That curiosity has drawn me deep into the history of money, inflation, and the relationship between governments and currencies, and it shapes how I think about the risks hiding in what most people consider "safe."