FORM ADV Part 2A, Item 4
Firm Description & Principal Owners
Lafayette Investments, Inc (Lafayette) is a SEC-registered investment adviser with its principal
places of business located in Maryland. Lafayette began conducting business in 1988. Our
firm’s shareholders are:
• Scott H. Dinn- Vice-President and Director
• Mark M. Hughes- Vice-President and Director
• Ryan M. Klinger
• Lawrence Judge- President and Director
• Robert A. Noyes- Treasurer
Advisory Services
Our firm provides investment advisory services to our clients based on the individual needs of
the client. Our clients execute an investment advisory agreement with Lafayette and as part of
this agreement the client grants Lafayette full investment discretion authority to determine the
selection, timing and amount of security transactions. Lafayette does not act as a custodian of
client assets. The client always maintains asset control.
During our data-gathering process, we determine the client’s individual objectives, time
horizons, risk tolerance, and liquidity needs. As appropriate, we also review and discuss a client's
prior investment history, as well as family composition and background. Assets are allocated
among stocks, bonds and money market instruments based on the client’s requirements. No two
clients are alike in their requirements and the portfolios we construct will vary from client to
client based on those differences.
Types of Investments
Our investment recommendations generally include advice regarding the following securities:
• Exchange-listed securities
• Securities traded over-the-counter
• Foreign issuers
• Corporate debt securities
• Municipal securities
• Mutual fund shares
• United States governmental securities
Retirement Rollovers Conflicts of Interest
If we provide investment advice to a retirement plan account or individual retirement account,
we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act
and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts.
The way we make money
creates some conflicts with your interests, so we operate under a
special rule that requires us to act in your best interest and not put our interests ahead of yours.
Under this special rule’s provisions, we must:
• Meet a professional standard of care when making investment recommendations (give
prudent advice);
• Never put our financial interests ahead of yours when making recommendations (give
loyal advice);
• Avoid misleading statement about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in your best
interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest
When a client or perspective client leaves employment with an existing retirement plan they will
typically have the following four options: (1) Leave the money in the employer’s plan (if
permitted), (2) Roll the assets to a new employer plan (if one is available and rollovers are
permitted), (3) Roll the assets to an Individual Retirement Account (IRA), or (4) Cash out the
account value. If Lafayette recommends a rollover of the retirement plan assets to an account
managed by Lafayette, this recommendation creates a conflict of interest. Lafayette charges an
investment advisory fee based on the assets we manage. Rolling assets into a new managed
account or adding assets to an existing account will increase the fee paid to Lafayette, creating an
incentive to encourage the addition of assets. For additional information about conflicts of
interest please see our Client Relationship Summary (Form CRS) and/or sections 10,11 and 12 of
this brochure.
Clients may provide restrictions on the inclusion of specific securities or industries in their
accounts. Clients may also direct Lafayette to sell or avoid selling specific securities. Account
supervision is guided by the client's stated objectives as well as tax considerations.
Assets Under Management
As of December 31, 2023, Lafayette manages approximately $773,600,000 in discretionary
client assets. We do not offer advisory services on a non-discretionary basis.