Lake Street Advisors Group, LLC (Portsmouth)

Name: Lake Street Advisors Group, LLC
Address: 25 Chestnut Street, Portsmouth, NH, 03801
Telephone: 603-610-4100

Lake Street Advisors Group, LLC is a large advisory firm based in Portsmouth. It manages $2.06 billion of regulatory assets for 881 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Florida, Massachusetts, and New Hampshire.

Lake Street Advisors Group provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and wealth management services. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Lake Street Advisors Group: assets under management

The assets under management (AUM) of Lake Street Advisors Group, LLC is $2.06 billion. 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 $554.6 million in discretionary accounts and $1.5 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.58 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.83 million.

Investments

The firm invests in investment and business development companies the most. They account for 42% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 20% of the firm’s portfolio. Investments in cash and cash equivalents form 20% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lake Street Advisors Group, 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 Street Advisors Group serves?

The only and largest group of clients of Lake Street Advisors Group is high net worth individuals with 50 clients and $2.06 billion of assets under management. Among the 4 most similar advisory firms, Lake Street Advisors Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.06 billion for 50 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 Street Advisors Group doesn't advise any private funds.

Careers at Lake Street Advisors Group, LLC

The company employs 25 people that are either part- or full-time employees. 56 percent of the employees work as investment advisers or researchers. 17 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 don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Focus Operating	Member (manager)	1 Apr 2017	75% - 100%	20-8161914
Greg Alan Vanslyke	Manager	1 Apr 2017	Other	2963244
Carolyn Bunting Ryan Decker	Manager	1 Apr 2017	Other	3215365
Melissa Olszak	Manager	1 Apr 2017	Other	4840938
Norman Eugene Webb	Manager partner	1 Apr 2017	Other	4833108
Robert Arthur Goyette	Manager	1 Apr 2017	Other	2845374
Richard Wilson Dinsmore	Chief compliance officer	1 Apr 2017	Other	4651282
Brian Joseph Durkin	Chief compliance officer	1 Sep 2017	Other	2094689

Indirect Owners

The SEC currently registers 9 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Llc Focus Financial Partners	16-1728260	1 Jan 2007	75% - 100%	16-1728260
L.P. Cp Falcon Aiv	Member	1 Oct 2013	25% - 50%	36-4767158
Llc Focus Financial Partners	Member	1 Jan 2017	75% - 100%	16-1728260
L.P. Trident Vi Parallel Fund	Member	1 Apr 2017	75% - 100%	98-1132009
Trident Ffp Blocker Llc	Limited partners	1 May 2017	25% - 50%	82-1662776
Trident Vi Lp	Limited	1 May 2017	25% - 50%	98-1131820
Trident	Limited	1 May 2017	25% - 50%	98-1131820
L.P. Trident Ffp	Member	1 Jul 2017	25% - 50%	82-1662703
Focus Financial Partners Inc.	Member	1 Jul 2018	75% - 100%	47-4780811

Based in Portsmouth

The principal office where Lake Street Advisors Group, LLC performs its advisory services is located at 25 Chestnut Street, Portsmouth, NH 03801, which is also the mailing address of the firm. An additional office of the firm is in Boston, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 603-610-4100 or by fax 603-218-6232. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at lakestreetadvisors.com/ and its LinkedIn profile.