Lakeside Wealth Management Group, LLC (Chesterton)

Name: Lakeside Wealth Management Group, LLC
Address: 3100 Village Pt, Chesterton, IN, 46304
Telephone: 219-926-1182

Lakeside Wealth Management Group, LLC is a large advisory firm based in Chesterton. It manages $1.16 billion of regulatory assets for 2,560 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Arizona, California, Colorado, and 14 other states.

Lakeside Wealth Management Group provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and educational seminars and workshops. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Lakeside Wealth Management Group: assets under management

The assets under management (AUM) of Lakeside Wealth Management Group, LLC is $1.16 billion. The firm's AUM has grown by 3421% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $457.53 million in discretionary accounts and $704.52 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $186.29 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $6.77 million.

Lakeside Wealth Management Group has custody of $1.48 million in cash and securities for 47 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 95% of the total AUM. The second-largest asset type is exchange traded securities, which make up 3% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lakeside Wealth Management Group, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Timothy David Rice serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Timothy David Rice is pension and profit sharing plans with 99 clients and $673.41 million of assets under management. Among the 9 most similar advisory firms, Lakeside Wealth Management Group has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $1.16 billion for 1,125 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.

Lakeside Wealth Management Group doesn't advise any private funds.

Careers at Lakeside Wealth Management Group, LLC

The company employs 24 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 24 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.

Timothy David Rice has been acting as President since 1 Apr 2006. Timothy James Verschure joined the executive team most recently as the Senior Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Mark William Chamberlain	Chief executive officer	1 Apr 2006	50% - 75%	1655738
Timothy David Rice	President	1 Apr 2006	25% - 50%	2417854
Kristin S Kroeger	Chief operations officer & chief compliance officer	1 Mar 2008	Other	5453133
Jocelyn Anne Hibshman	Chief compliance officer	1 Jun 2010	Other	2836858
Gerald Edward Mang	Managing director	1 Jan 2013	Other	2228023
Timothy James Verschure	Senior vice president	1 Jan 2015	Other	5507445

Based in Chesterton

The principal office where Lakeside Wealth Management Group, LLC performs its advisory services is located at 3100 Village Pt, Chesterton, IN 46304, which is also the mailing address of the firm. An additional office of the firm is in Brookfield, WI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 219-926-1182 or by fax 219-395-9525. The normal business hours are 7:30 a.m - 4:30 p.m. on Monday - Friday. You can find more information about the New York firm at lakesidewmg.com.