Lake Street Advisors

CRD#288300
Investment Advisor Firm

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Overview

Lake Street Advisors operates as a financial advisory firm headquartered in Portsmouth, New Hampshire. The company administers $2.9 billion in assets over 1,862 client accounts, placing it among the biggest firms in the nation by assets under management (AUM). The firm has an average-sized team, including 21 financial advisors. Lake Street Advisors is not a registered broker-dealer, signifying that the company is not able to buy and sell securities for its clients' and own accounts and instead must go through a broker-dealer firm to do so. Securities are tradable financial investments like stocks, options and bonds.

Lake Street Advisors manages most of its accounts on a discretionary basis. Discretionary management signifies that a portfolio manager makes buy and sell choices for the client's account without needing the client's consent. The firm also administers 787 non-discretionary accounts with a total of $1.8 billion in assets. Lake Street Advisors oversees an average of $1.6 million for each client account. The typical advisor at Lake Street Advisors manages around 89 client accounts.

Lake Street Advisors's central office is at 145 Maplewood Avenue, Portsmouth, New Hampshire 3801. The firm is legally allowed to provide services to customers across a number of states, including California, Florida, Massachusetts, New Hampshire and New York.

Assets Under Management

$2.9 billion

Number of Advisors

21

Disclosures

No

Office Location

145 Maplewood Avenue
Portsmouth, NH 03801

Lake Street Advisors by the Numbers

Total Assets Under Management

$2.9 billion

National Average: $8.6 billion
Total Number of Employees

43

National Average: 64
Total Number of Accounts

1,862

National Average: 375,227
Average Account Size

$1.6 million

National Average: $23.0 thousand
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Products and Services

Lake Street Advisors offers a number of services, which can include financial planning services, portfolio management for individuals and small businesses, selection of other advisers and other services. In the prior financial year, the firm provided financial planning services to 51-100 of its customers. It is involved in selling products or offering services other than investment advisory services to its customers. It is also affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, insurance company or agency, pension consultant and commodity pool advisor.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 20% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

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    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Financial management fees usually vary depending on which services the firm provides the client. However, fees billed by Lake Street Advisors may include the following fee types: asset-based, fixed or other. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by the company.

Available

  • Offered by 69% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 32% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

  • Offered by 10% of firms

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

Unavailable

  • Find one of the 21% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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Types of Clients

It works with high net worth investors and pension plans. Out of its 1,862 accounts, Lake Street Advisors's largest client by number of accounts is high net worth investors, although it also caters to 74 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 under management or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's accounts are from outside of the U.S.

  • High-Net-Worth Individuals* - 98.67%
  • Other Individuals - 0%
  • Corporations - 1.33%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Lake Street Advisors does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Lake Street Advisors

Hunter Steadley
Portsmouth, NH
Debra Stokes
Portsmouth, NH
Brian Thompson
Portsmouth, NH
Jaclyn Hirl
Portsmouth, NH
Nicole Dunlevy
Portsmouth, NH
Ashley Yantz
Portsmouth, NH
Joseph Chase
Portsmouth, NH
William George
Portsmouth, NH
Rachael Bator
Portsmouth, NH

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