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> Lakehouse Family Wealth was founded to help families spend more time together, pure and simple. But how do you do that? Our clients all have three values in common. First, they share the goal of building healthy financial habits that build wealth for generations. But why? Glad you asked… Second, they build wealth for the purpose of spending time together as a family, and being able to weather life's storms with as little disruption as possible. But what happens when the kids inherit the money, but not the values? Good Question! Third, and this is the most important one, is passing these healthy financial habits and family values rooted in time with family on to future generations. As we often say to clients, we want your children to be so financially successful that it drives you absolutely off the wall crazy that they have more money than you did at that age; and we want them to build it themselves! Whether you are a retired couple with great-grandchildren or an individual looking to start building your own family with that special someone, if you share those three values with us, we should talk.
> As noted above, Lakehouse Family Wealth was founded to help families spend more time together, pure and simple. But in order to do that, you have not just to build the wealth to fund it, but pass healthy financial habits on to future generations. This is about building the values of healthy family financial habits and time with family. Far too often the term “wealth” gets spoken of as though its the scourge of the earth, but the reality is that building generational wealth can allow families to weather storms, pay for medical needs, afford an education that is the best fit for every child in the family, and most importantly, focus on time with family. Here you will often hear the term “trust fund kids,” too. The reality is that more and more families are working hard to build wealth in trusts, but not so that their kids never work. In fact, it’s just the opposite. They want their kids to work even harder than they did! More and more families are building wealth to prevent the unexpected from derailing life, and teaching their children how to build it for their own families in the future. Lakehouse Family Wealth was built to help families do just that. We said it before, and we will say it again: As we often say to clients, we want your children to be so financially successful that it drives you absolutely crazy that they have so much more money than you did at that age; and we want them to build it themselves! For more information on Ben Simerly and the team at Lakehouse Family Wealth, you can check out our About page >.
> Generally- just say no. But at the end of the day, we aim to help families invest in whatever way works best for them. If that turns out to be an annuity, so be it. But while we often work with annuities, it’s usually to help clients get out of annuities sold by what I call “annuity sales farms.” If a client insists on taking the annuity path, we aim to use a “fee-based” annuity instead of one that pays a commission if at all possible. We are proudly focused on being a fee-based financial planning firm, not an “annuity sales farm.” The reality is that annuities can (on rare occasions…) be the right fit for some families, but we believe that more often than not, there are far less expensive ways to achieve a better end result.
> We help clients from all over the United States and can have meetings over both secure Zoom video conferencing and locally in Cleveland, Ohio. In fact, you can schedule a Zoom meeting with us right here: https://lakehousefamilywealth.as.me/ >.
> In short, no. As noted above, this is about values, not minimums. We do our best work with diligent savers, and families dedicated to building generational wealth. This often means families with a minimum of 2 million in investable assets if already retired, or families aiming for more than 2 million in today's dollars by the time they retire. Having $1 Million isn’t what it used to be… BUT what if you are just as dedicated, and just getting started? How do you get help building wealth if many financial planning firms have an asset minimum in the millions? We are proud to work with any family or individual that is willing to save their money, work hard, and stick to the plan. We do charge money, and to be blunt, if you value your Starbucks more than your financial future (And you can’t afford both at the same time…), then we aren't the firm for you! Only families and individuals serious about building healthy financial habits need apply. We take time with family, time with our clients, and the wealth that allows for that time with family seriously, and we only spend our time with people who value that time with family as much as we do. From families just getting started to those passing wealth to the third generation, the one thing our clients and we all have in common is how we value time with family, and building the healthy financial habits to fund it.
> We are a fee-based financial advising firm: We mainly charge based on a % of assets under advisement and/or flat planning fees. We only take on clients looking for a relationship lasting generations, and as a result, do not offer one-time planning fees or hourly planning arrangements. Along those lines, we do not work with assets split between multiple advisors. Imagine what a surgeon would say if you told them they could only see part of your body during surgery! We will always present your options and costs upfront for your consideration and focus on the fit between your family and our firm. For more information on how we bill, you can check out our About page >.
> We are a Fiduciary firm, focused on providing advice that is the best for you, not selling products with commissions. We aren’t a fit for everyone, though. We are here to help you build generational family wealth, and pass healthy family financial habits on to your children. This is for those looking to build habits their great-grandchildren take pride in…
> As a high-service, low-volume firm, we cover all the areas of family financial health, sometimes referred to as a “holistic” planning firm. And as we spoke about above, we place significant importance on educating the next generation on healthy financial habits. In short, we help quarterback your financial life and work with your other professionals including your accountant, estate attorney, etc, to help your entire financial picture come together. And if you don’t have those help, we can help you find the right ones for you. We cover financial planning, wealth management, retirement income planning, family budget counseling, charitable giving strategies, estate planning, insurance optimization, social security timing strategies, high-net-worth and highly-compensated employee saving strategies, etc. We are here to help with the whole picture.
> We do our best work with families looking for a long-term relationship. Currently, we do not offer hourly or one-time services. From Grandparents, to Parents, to Grandchildren, and beyond, our focus is on your life and your family for decades to come. We believe wealth and financial planning are ongoing pursuits, not one-time achievements.
>No two people are the same, so why should investments all be identical? We offer a wide range of investment options and focus on how they FIT YOU instead of a one-size-fits-all approach. Our goal is to lower your costs, invest smarter, and create reliable income in retirement so you can focus on family, and spend more time at the lake (Beaches and mountains are ok too...).
> We focus on time with family, passing healthy habits on to the next generation, and fit. Many firms bring on as many clients as possible, as fast as possible. Many larger firms often place thousands of clients with each “advisor.” We are a low-volume, high-service firm looking to help roughly 80 to 150 families over the next 40 years, and if that number grows, it will be by adding to the advisors per # of clients, not to the # of clients per advisor. When we say we spend real time with you and your family, we aren’t kidding. We limit the number of new clients we take on each year to make sure each family is onboarded carefully and over a 12-24 month period as we phase into longer-term planning needs specific to each family. During our initial meetings, we focus on your values, your goals, and fit. And if it's not a fit, we will help you find the right advisor through our extensive network of industry pro's. Seriously, we will actually help you find the right firm for you through our network of like-minded firms that all have their own niches, own focus, and own values.
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