(Too long for a comment)
From the user guide of the newlfm document class:
geometry is no longer used for dimension setting. Rather, all dimensions are set internally. This is done using a combination of default values, header and footer sizes and values input from the user. These include primarily the page size commands leftmarginsize, textwidthsize and rightmarginsize.
I guess the implication of this passage is that if you're going to use this document class for letters, faxes, and memos, you should try not to use the geometry package and its methods; instead, try using the parameters provided by the newlfm document class directly. Conversely, even though you may be able load the geometry package after all -- see @HarishKumar's answer -- by first undefining the \geometry command, you may find that the page-related parameters won't work the way you might expect them to work in, say, the article document class.
Addendum: Here's a quick example of how you could proceed if you wanted the left and right margins to be 1.5" wide each:
\leftmarginsize{1.5in} \rightmarginsize{1.5in}
The text block's width would then be calculated as <paperwidth>-2*1.5"; if the paper happens to be "US Letter"-size (8.5"x11"), the text block would end up being 5.5" wide. Other page-related parameters will, in general, be determined by the options you provide as arguments to the \documentclass[...]{newlfm} command.