Broker Check

FAQ

You have questions, we have answers. We’re here for you. If your question isn’t outlined below, feel free to reach out to us for more information on how our services could benefit you.

Benefits of Five Lakes Wealth Management

  • We look at your whole picture. By combining comprehensive financial planning and investment management, we create a holistic wealth management experience.
  • Being an independent firm allows us to serve as your financial partner. Without proprietary product, sales quotas, and high overhead; you can trust that you’re getting unbiased advice.
  • Our client relationships are designed to be long term and collaborative. You can depend on us to deliver objective advice and guidance at all times.
  • We provide the resources and expertise of a large firm without making you feel like just a number.

Our Typical Client

  • Many of our clients are fully capable of managing their own investments but would rather work with a team of experts. If your time is your most valuable resource, we are here to provide peace of mind so that you can focus on what’s most important to you.
  • If your expertise is not in the financial markets, we are here to assist in navigating the myriad of information available and guide you to solutions to meet your financial goals. We can boil down all the jargon to an understandable conversation.

Compensation

  • We provide a complimentary initial meeting to determine: A) whether or not we can help you; and B) whether or not you want our help. If the answer to both of those is yes, we will provide you a proposal that outlines all costs associated with your wealth management strategy.
  • We are a fee-based financial planning firm. This gives us the freedom to develop your financial plan and investment strategy without restraint.
  • Asset management fees typically range from 0.75% to 1.50%, but are negotiable based on the size of the account and the complexity of the strategy we agree to.

Investment Minimums

  • Traditionally our wealth management clients have at least $100,000 of investable assets.
  • If you are just starting out, we have options available to assist you in implementing cost effective investments to begin building your portfolio towards your financial goals.

Where Do You Keep My Money

  • Our clients’ funds are typically custodied at National Financial Services (NFS). For many clients, this provides reassurance and a system of checks and balances as their money is not physically held by the same company who advises on how to invest it.
  • For some products and asset management strategies, funds may be held directly with the investment company, mutual fund company, or annuity/life company.

Out of Area Clients

  • While the majority of our clients are based in the Midwest, clients come to us from across the country. We will ensure that your advisor is properly licensed in your state prior to providing any investment advice.
  • We can utilize phone, email, and video conferencing to connect with you.