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Lake Point Wealth Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Lake Point Wealth Management (LPWM) is a fee-based firm located in Rockwall, Texas. LPWM serves both individual and institutional clients. When it comes to compensation arrangements, LPWM charges asset-based fees and fixed fees. The team includes the certified financial planner (CFP), accredited estate planner (AEP), certified trust and financial advisor (CTFA). 

Lake Point Wealth Management Background

LPWM has been in business as a registered investment advisor (RIA) since 2014. 

LPWM was acquired by Mercer Global Advisors Inc. in October 2021 and is now wholly owned by Mercer. Dave Welling serves as chief executive officer of Mercer. 

Lake Point Wealth Management Client Types and Minimum Account Sizes

LPWM serves individuals, high-net-worth individuals, trusts, estates, charitable organizations, corporations or other business entities. The firm doesn’t specify a minimum account size requirement. LPWM’s brochure states that investment advisor representatives (IARs) determine account minimums and they are determined on a case-by-case basis.

Services Offered by Lake Point Wealth Management

LPWM offers the following advisory services:

  • Portfolio management
  • Educational seminars/workshops

Lake Point Wealth Management Investment Philosophy 

LPWM says it believes in a long-term strategy with a balanced and diversified portfolio of securities. The firm regularly uses quantitative and qualitative analysis. When it comes to quantitative factors, the firm looks at performance data, risk statistics, volatility, sector concentration, position concentration and liquidity.

LPWM mainly invests in mutual funds, exchange-traded funds (ETFs), exchange-listed securities and fixed-index annuities. 

Lake Point Wealth Management Fees

For financial planning services, LPWM charges a fixed fee of $500. The firm offers the following fee schedule for investment advisory services:

LPWM Investment Management Fee Schedule
Amount of assets Annual fees
First $1,500,000 1.50%
Next $1,500,000 1.25%
Next $4,500,000 1.00%
Above $7,700,000 0.75%

Here's a breakdown of about what you can expect to pay for advisory services at Lake Point:

*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.
Estimated Investment Management Fees at Lake Point Wealth Management*
Your Assets Lake Point Wealth Management Fee Amount
$500K $7,500
$1MM $15,000
$5MM $61,250
$10MM $110,000

What to Watch Out For

Lake Point Wealth Management's SEC record is clear of any disclosures.

IARs may earn commissions on the sale of insurance products, creating a possible conflict of interest between the client and the LPWM advisor. Despite these arrangements, the firm's fiduciary duty requires it to act in clients' best interests.

Opening an Account With Lake Point Wealth Management

You can set up an account with LPWM by visiting the firm’s office, or you can call an advisor over the phone.

All information is accurate as of the writing of this article.

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How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research