Lake Street Advisors

CRD#288300
Investment Advisor Firm

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Learn more about Lake Street Advisors

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Lake Street Advisors is located at 145 Maplewood Avenue, Portsmouth, NH. The firm employs 22 financial advisors to manage client portfolios and provide financial guidance. Lake Street Advisors is not a registered broker-dealer.

    Lake Street Advisors oversees $3.1 billion in assets under management across 1,858 accounts, of which 1,241 are discretionary and 617 are non-discretionary. Over the past year, the firm has provided financial planning services to between 51 and 100 clients. The services offered include financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and other services. The firm caters to high net worth investors and charitable organizations, with high net worth investors being the largest client type by accounts. The fee structure at Lake Street Advisors includes asset-based, fixed, and other fees. The firm has 92 high net worth clients and maintains affiliations with a broker-dealer or securities dealer, an insurance company or agency, a pension consultant, and a commodity pool advisor.

    Lake Street Advisors is registered in the states of California, Florida, Massachusetts, New Hampshire, and New York.

    Assets Under Management

    $3.1 billion

    Number of Advisors

    22

    Disclosures

    No

    Office Location

    145 Maplewood Avenue
    Portsmouth, NH 03801

    Lake Street Advisors by the Numbers

    Total Assets Under Management

    $3.1 billion

    National Average: $8.6 billion
    Total Number of Employees

    45

    National Average: 64
    Total Number of Accounts

    1,858

    National Average: 375,227
    Average Account Size

    $1.7 million

    National Average: $23.0 thousand
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    Products and Services

    Lake Street Advisors offers a variety of financial services, which can include financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and other services. In the past fiscal year, Lake Street Advisors provided financial planning services to 51-100 of its accounts. The Company is engaged in selling products or offering services aside from investment advice to its clients.

    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.

    • Find a firm that offers this service

      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.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

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

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    Fee Structure

    Fees for financial management largely are based on the financial services provided. Fees charged by Lake Street Advisors may include some blend of the following fee types: asset-based, fixed, or other.

    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 charitable organizations. Out of its 2 clients, Lake Street Advisors's largest client type by number of accounts is high net worth investors, though it also manages money for 92 high-net-worth individuals. The SEC defines a high-net-worth individual as an investor who has at least $750,000 in AUM or a net worth of at least $1,50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 98.92%
    • Other Individuals - 0%
    • Corporations - 0%
    • Charitable Organizations - 1.08%

    * 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

    William George
    Portsmouth, NH
    Patrick Odonnell
    Boston, MA
    Hunter Steadley
    Portsmouth, NH
    Debra Stokes
    Portsmouth, NH
    Luciana Reis
    Portsmouth, NH
    Rachael Bator
    Portsmouth, NH
    Nicole Dunlevy
    Portsmouth, NH
    Travis Broadhurst
    Portsmouth, NH
    Joseph Chase
    Portsmouth, NH

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