Lake Point Wealth Management, LLC (Heath)

Name: Lake Point Wealth Management, LLC
Address: 1 Horizon Court, Heath, TX, 75032
Telephone: 214-771-3363 EXT 1000

Lake Point Wealth Management, LLC is a large advisory firm based in Heath. It manages $258.14 million of regulatory assets for 2,685 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Texas and Utah.

Lake Point Wealth Management provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and publication of newsletters. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Lake Point Wealth Management: assets under management

The assets under management (AUM) of Lake Point Wealth Management, LLC is $258.14 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 94% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $258.14 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $96.14 thousand each.

Lake Point Wealth Management has custody of $14.19 million in cash and securities for 32 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 76% of the total AUM. The second-largest asset type is exchange traded securities, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lake Point Wealth Management, LLC for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Lake Point Wealth Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Lake Point Wealth Management is individuals with 1,021 clients and $201.51 million of assets under management. Among the 10 most similar advisory firms, Lake Point Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $258.14 million for 1,056 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Lake Point Wealth Management doesn't advise any private funds.

Careers at Lake Point Wealth Management, LLC

The company employs 13 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 13 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Lake Point Wealth Management, LLC is owned by Howard Reid Johnson. Jean Ellen Patton joined the executive team most recently as the Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Howard Reid Johnson	Owner	1 Jan 2014	75% - 100%	6294312
Jeffery Logan Butler	Chief compliance officer	1 Jan 2017	Other	6802076
Brittany Nicole Reville	Chief compliance officer	1 Mar 2018	Other	6759238
Jean Ellen Patton	Chief operating officer	1 Jan 2019	Other	1192348

Based in Heath

The principal office where Lake Point Wealth Management, LLC performs its advisory services is located at 1 Horizon Court, Heath, TX 75032, which is also the mailing address of the firm. An additional office of the firm is in Granbury, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 214-771-3363 EXT 1000 or by fax 469-402-0698. The normal business hours are 8:30 to 5:00 on Monday - Friday. You can find more information about the New York firm at lakepointadvisorygroup.com.