Lakeside Wealth Management continues to grow within the M&A department

Lakeside Wealth Management continues to grow within the M&A department
By: Julia Demma Last Updated: June 10, 2019

In 2017 the Mergers and Acquisitions (M&A) department at Lakeside Wealth Management was born. Elizabeth Marks, Director of Strategic Development, is leading the way inside this new department as Lakeside looks to expand, grow and learn.

The different options for M&A at Lakeside include an employee advisor model, a branch office model, joining the Lakeside Partner’s Network, and an advisor acquisition/succession model. “We have built a team of professionals that will help guide advisors and their clients through the move to Lakeside. Everything from communication to clients and the community to account set-up and investments gets combed through extensively by this team,” Marks said.

Joining the Lakeside Partnership Network allows advisors the opportunity to maintain their brand and independence while offloading back-office operations, account maintenance and asset management to Lakeside. “This structure allows advisors to focus on what they do best, building relationships and helping clients focus on their life and financial goals, rather than spending time doing paperwork and following up on accounts,” says Marks.

Lakeside has their sights set on expanding their culture and approach geographically. Their world headquarters is located here in the region in Chesterton. They also have a branch office in Brookfield, WI. The branch office model that Lakeside outlines gives advisors the opportunity to join the Lakeside team from afar. The advisor(s) and their team get to become Lakeside team members, integrate with our culture, processes, Investment Committee and philosophy with all the capabilities of the home office.

For local advisors looking to jump into a team-based approach, the employee advisor model is the perfect fit. This structure offers the full Lakeside Team experience to advisors. “Our culture has attracted many advisors, and the most recent additions to our team can speak to this. How our team interacts, our emphasis on community involvement, and our focus on internal collaboration and client care is what wins them over at the end of the day,” Marks said.

The advisor succession and acquisition model actively seeks advisors who are preparing to retire in the next two to five years. “We are finding that a succession plan is not something that every advisor has, this model helps these advisors find an exit. It’s an emotional time for advisors, to find someone who cares about their clients as much as they do. Lakeside brings these advisors and their clients onboard with the same white glove service and care as we would for our own,” explains Marks. “We work very closely with retiring advisors on this transition because we want them to enjoy retirement and not fret about the well-being of their clients and their goals.”

“The area of expertise that each advisor brings to our team is completely different. At Lakeside we recognize that every advisor can’t be all things to all people, but what makes our team so strong is that each advisor has a different area of expertise. Because we operate as one big team, each advisor has several opportunities to showcase their skills with the firms’ clients not just their own book of business. This adds depth and increases our overall knowledge and usefulness to our clients. Here, we work together to reach a common goal instead of competing against one another,” Marks said. “We want to help our clients feel more secure knowing there is a small army of professionals here who are all collaborating to ensure they’re goals are known throughout the team. At the end of the day, we strive to give our clients a sense of security and peace of mind”

While researching advisors, Marks said she looks for people who will add to the team and their culture and ideally will bring a new area of focus or concentration to the team.

“Lakeside Wealth Management is a place where you can do what you love to do and where you can focus on why you got into this business,” Marks said.

Advisors who are interested in joining the Lakeside Wealth Management Team are welcome to reach out to Elizabeth Marks via email at elizabeth@lakesidewealth.com. For more information on Lakeside Wealth Management, visit their website at https://www.lakesidewealth.com/.