WHAT TYPES OF CLIENTS DO WE TYPICALLY WORK WITH?
Our typical client is an entrepreneur, small business owner, or working couple who understands the importance of proper planning but doesn't have the time. They want a partnership approach to building and navigating a plan and are comfortable leveraging technology to create efficiency.
HOW MUCH $ DO PEOPLE NEED TO WORK WITH LAKE ROAD ADVISORS?
This depends on the type of service you need. For clients who choose the Asset Management & Financial Planning package we generally look for assets of $250, 000. For clients who are unable to invest that amount, the Ongoing Financial Planning monthly subscription model is a better fit.
WHY LAKE ROAD ADVISORS?
Lake Road Advisors take a different approach, we learn about your needs first. We merge the advances in automated investing and client interface technology with a CERTIFIED FINANCIAL PLANNER™ acting as your fiduciary to achieve your goals.
WHAT IS AN RIA?
A Registered Investment Adviser (RIA) is an investment adviser (IA) registered with the Securities and Exchange Commission or a state's securities agency. The numerous references to RIAs within the Investment Advisers Act of 1940 popularized the term, which is closely associated with the term investment advisor (spelled "investment adviser" in U.S. financial law). An IA is defined by the Securities and Exchange Commission as an individual or a firm that is in the business of giving advice about securities. (Wikipedia?)
WHAT IS A FEE ONLY ADVISOR?
Fee-Only Advisors are financial planners that are Registered Investment Advisers (RIA) with a fiduciary responsibility to act in their clients' best interest. They do not accept any fees or compensation based on product sales. The have fewer inherent conflicts of interest, and they generally provide more comprehensive advice.
WHAT IS THE FIDUCIARY STANDARD OF CARE?
There are two standards that financial planners and advisers are held to, the fiduciary standard and the suitability standard. The fiduciary standard charges financial planners with putting their clients' best interest ahead of their own. For instance, faced with two identical products but with different fees, an adviser under the fiduciary standard would be compelled to recommend the one with the least cost to the client, even if it meant fewer dollars in the company's coffers -- and his or her own pocket. The suitability standard requires that adviser’s investment recommendations must fit clients' investing objectives, time horizon and experience. Under this standard of care, if an advisor has three suitable products, he can recommend the one that pays him the most as long as its suitable. It doesn’t have to be the best decision for the client.
WHAT IS AN INDEX FUND?
An Index Fund is a type of mutual fund or exchange traded fund (ETF) with a portfolio constructed to match or track the components of a market index such as the Standard & Poor's 500 Index. The index fund provides specific market exposure at a low operating cost and with minimal turnover.