Lake Road Advisors, LLC (Corning)

Name: Lake Road Advisors, LLC
Address: 5 East Market Street, Corning, NY, 14830
Telephone: (607) 438-2914

Lake Road Advisors, LLC is a mid-sized advisory firm based in Corning. It manages $32.48 million of regulatory assets for 103 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of New York and Pennsylvania.

Lake Road Advisors provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Lake Road Advisors: assets under management

The assets under management (AUM) of Lake Road Advisors, LLC is $32.48 million. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $23.06 million in discretionary accounts and $9.42 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $232.94 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.35 million.

Investments

The firm invests in exchange traded securities the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lake Road Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Lake Road Advisors serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Lake Road Advisors is individuals with 51 clients and $15.6 million of assets under management. Among the 3 most similar advisory firms, Lake Road Advisors has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $32.48 million for 67 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 Road Advisors doesn't advise any private funds.

Careers at Lake Road Advisors, LLC

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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 don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Paul Vincent Sydlansky	President, cco & member	1 Jan 2016	75% - 100%	3226165

Based in Corning

The principal office where Lake Road Advisors, LLC performs its advisory services is located at 5 East Market Street, Corning, NY 14830, which is also the mailing address of the firm. An additional office of the firm is in Binghamton, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (607) 438-2914. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at lakeroadadvisors.com and its LinkedIn profile.