Lakehouse Family Wealth
And how you become your family's financial HERO...
This matters to you!
So, let's start with the basics:
Q: Do you serve clients virtually or locally?
A: We work both virtually and in-person: Serving clients all over the United States via Zoom, and and locally in N.E. Ohio.
Q: Are you a Fiduciary?
A: Yes. We are Fiduciaries!
Q: Are you Fee-Based?
A: Yes. Proudly!
Q: Do you have an asset-minimum?
Q: Do you help with:
- Retirement income planning? Yes.
- Financial Planning? Yes.
- Investments? Yes.
- Investment tax-reduction strategies? Yes.
- Social Security timing? Yes.
- Long-Term Care planning? Yes.
- Medicare questions? Yes.
- Estate planning? Yes.
- Rollovers? Yes.
- Cash flow planning? Yes.
- Workplace retirement accounts? Yes.
- Divorce financial planning? Yes.
- What if our family moves, we change employers, our family grows, or other changes? We go and grow right along with you.
- Financial education? Yes.
Q: Are you one of those firms that pushes annuities on everyone?
A: No. We focus on fit, which more often than not, is a different approach than an annuity.
Q: What if I already have an annuity?
A: That's O.K.! We are happy to work with your existing portfolio.
Q: Are you going to "make" me sell all my current holdings?
A: We don't make anyone do anything. We provide various possible options based on your input, and work with you to find the right fit.
Q: Are you going to force us into one type of investment?
A: Nope. Its all about the right fit for you and your family, whatever that might be. Pure and simple.
Q: What if I don't want to pay an Asset-Under-Advisement fee?
A: No problem! We are happy to bill via bank, card, or whatever method works for you and your family.
Q: What if I want to pay out of assets, and not from a bank account?
A: No problem! We are happy to bill via whatever method works best for you and your family.
Q: What if I am getting divorced and can't afford to pay until the divorce settles? Or don't know if I can afford your services?
A: We work with families going through a divorce and completely understand that it may be some time until the finances are available to pay. We are also happy to help work through the questions of affordability. Just get in touch!
Q: What other questions do you dive into on this page?
What financial areas do you help with?
Who do you work with?
What are your fees?
Why the name Lakehouse Family Wealth?
A: These and many other answers in more detail below!
"What financial areas do you help families with?"
- Passing Healthy Financial Habits to Future Generations (Family financial education)
- Retirement Planning
- Investment Management
- Wealth Management
- Financial Planning
- Estate Planning (And we work with your Estate Planning Attorneys for the legal side of things...)
- Charitable Contribution Planning
- Retirement Income Planning
- Insurance Optimization
- Social Security Timing
- Passing Healthy Financial Habits to Future Generations (Yup, it's on here twice...)
"But what does Lakehouse Family Wealth do, exactly?"
You've heard all the fancy lines and read all the industry jargon.
But how does that help you, and what does Lakehouse Family Wealth actually do?
In plain terms!?!
If there is anything that drives us crazy in this industry, it's how overwhelming financial jargon has become to American families.
So let's say your family has a scenario like these:
- ...Has retirement and investment accounts that need investment management; We do that!
- ...Needs someone to help your Estate Attorney, Accountant, and financial plan all work together to make sure future generations have wealth to draw upon for medical emergencies? We do that.
- ...Needs to know how much to save in order to retire, and how, and when you can retire (preferably early!). We do that.
- ...Want's to know when they should start taking Social Security. We do that.
- ...Needs help navigating a major life event like the passing of a spouse, or birth of a special needs child. We do that.
- ...Wants to know that the family can afford to spend time together at the lake house, take vacations, and the kids college is paid for. We do that.
- ...Someone to call, as often as needed, about lifes financial questions that come up. From medical expenses, to buying new homes, to buying that convertable that Mom and Dad want drive up and down the California coast for a few months, to how to best leave a legacy to grandchildren. We do that.
- ...Wants a strategy to reduce taxable income created by Required Minimum Distributions (RMD's). We do that.
- ...Longs for a partner in helping the family have a real financial plan for the future, investments managed, contingency plans in place, children educated in how to handle their finances from a yound age, and help bring the entire financial picture all together... We do that.
"Who do you work with?"
- Families all along the family lifecycle, from young families just getting started, to parents already in retirement and planning for their grandchildrens futures.
- No asset minimum
- We work with families that are in two different categories:
- Either, already retired or about to retire with at least 2 million in investable assets.
- Or, Families looking to have at least 2 million in investable assets when they retire (In today's dollars...). That may sound like a lot, but 1 million isn't what it used to be... We proudly help families saving their first dollar.
- Families of any age that are dedicated to building generational wealth.
- Families dedicated to the process
- We expect our clients to be diligent about their finances (or actively working with us towards learning what that means).
- Show up for meetings on time, ready to go, no distractions
- But what about single parents or when things don't go to plan? Don't worry; we get it. Screaming child in hand, the meeting will carry forward!
- Be dedicated to saving for the future (if not already in retirement...)
- Families that are committed to passing healthy financial habits on to the next generation
- Families looking to focus their finances on time together, and the healthiest family life possible
- This does not mean creating what many refer to as "trust fund babies."
- We work with families that believe in what generational wealth can do to ensure families spend more time together (and more easily weather the storms that life can bring...).
"How do you bill clients?"
Clients with over $350K in investible assets:
- Can choose to pay either a percentage of assets-under-advisement (Often referred to as "AUA or AUM billing"), or
- A flat monthly or quarterly fee via credit card or checking account.
- Our percentage of AUA fees start at $5,000 per year, per household, billed monthly from investment accounts.
- All households pay an onboarding fee of $1,900 for individuals, $2,900 for couples.
Client's under $350K in investible asses:
- What if you want world-class help with your finances, but don't meet most firms' minimum asset requirements!?
- For client's under $350K in investible assets-under-advisement, we often bill with a combination of flat fees, and a percentage of AUA. This allows us to work with families just getting started in building their wealth.
- Our flat-fee billing starts at $395 per month, per household. (less than many spend on clothes and Starbucks...)
- All households pay a minimum onboarding fee of $1,900 for individuals, $2,900 for couples.
"Why the name "Lakehouse Family Wealth"?"
Growing up spending summers on the lakes of Northern Michigan, Ben (Founder of Lakehouse Family Wealth) was lucky enough to see what time spent on the lake with family could achieve.
No matter how basic or fancy the lakehouse/cabin/lodge/beachouse/ etc, it can bring a family together in a way that nothing else can. And helping families pursue that dream financially became a passion at a young age.
Ben's friends and family know all too well, if he had to choose between a house or a boat, he would take the boat...
Ben has come home to Cleveland to bring his lifelong love of financial planning full swing in helping families, and small businesses pursue their dreams.
Ben holds the Series 7, Series 66, and Life + Health Insurance licenses.
Founder & Wealth Advisor, Lakehouse Family Wealth
Retirement Planning - Financial Planning - Financial Advisor
A proud Cleveland native and Eagle Scout, Ben earned his bachelor's degree from Bowling Green State University with dual specializations in Finance and Personal Financial Planning.
In 2019, Ben moved back to Ohio from the Washington D.C. region to help families pursue their values in time spent with family into a financial reality, especially on the water…
In 2022, Ben founded Lakehouse Family Wealth, LLC., to help families across America reach their family financial dreams.
Raised by a corporate exec turned business professor Mother, and Father in international business, and a Veteran of the United States Air Force, Ben was raised on finance, duty, and discipline from birth.
With extensive experience in small and medium-sized business operations, including growing & starting company operations in multiple states, countries, and two continents, as well as having owned his own IT and technology consulting businesses, Ben is no stranger to the challenges of both business and personal finances.
Coming from a family with a long history in business ownership, Ben spent his childhood alongside his Grandfather analyzing Value Line Investment stock research and helping keep his Grandfather's small business accounting books.
By age seven, Ben was buying his own school supplies and growing his accounts by selling Organic produce and candy door to door in NE, Ohio, long before Organic anything was considered “hip.”
Oh, and he grew the produce himself…
You can schedule an intro call here: Schedule A Quick Chat
You can reach Ben by phone: (440) 589-7700
Or text: (440) 271-3534
Or e-mail: email@example.com
Wealth Advising For Employees of the Cleveland Clinic and University Hospitals
Helping families working for Cleveland area hospital systems is a specialty area of focus for Lakehouse Family Wealth, LLC.
While Lakehouse Family Wealth helps clients all across the country, Ben realized that many Cleveland Clinic and University Hospitals employees right here in NE Ohio were not receiving the advice they deserved that was catered to the unique needs of the medical community.
We cover the specific needs of the medical professionals and caregivers, including strategies to help specialists like cardiologists and dermatologists, nurses, and PA's. We cover all households including high-earners, single-parent households, divorced households, non-traditional households, and traditional two-parent households.
We can assist you with your Cleveland Clinic and University Hospitals 401(a) and 403(b) retirement plans through Fidelity Net Benefits, as well.
With services covering the full spectrum of financial planning from investment management to charitable giving strategies to retirement income planning, we can be here for our clients through thick and thin.
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