{
  "crd_number": 296761,
  "slug": "lake-street-chicago-il-296761",
  "primary_business_name": "LAKE STREET",
  "legal_name": "LAKE STREET PRIVATE WEALTH, LLC",
  "dbas": [
    "CLARITY FINANCIAL GROUP",
    "ELARIN WEALTH ADVISORS"
  ],
  "city": "Chicago",
  "state": "IL",
  "country": "United States",
  "cbsa_code": "16980",
  "metro": {
    "cbsa_code": "16980",
    "common_name": "Chicago",
    "msa_name": "Chicago-Naperville-Elgin, IL-IN",
    "path": "/advisors/il/chicago"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2018-05-16",
  "years_registered": 8,
  "period": "2026-10-01",
  "filing_date": "2026-07-06",
  "carried_forward": false,
  "raum_total": 1158676142.0,
  "raum_discretionary": 1030355372.0,
  "raum_non_discretionary": 128320770.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 9,
  "advisory_employees": 6,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 4677838.0,
      "count": null,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 92959178.0,
      "count": 304
    },
    "insurance_companies": {
      "raum": 14921.0,
      "count": null,
      "fewer_than_5": true
    },
    "pension_profit_sharing": {
      "raum": 134394090.0,
      "count": 15
    },
    "high_net_worth_individuals": {
      "raum": 919998138.0,
      "count": 294
    },
    "corporations_other_businesses": {
      "raum": 6631977.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "other",
    "pension_consulting",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA",
    "FL",
    "GA",
    "IL",
    "IN",
    "KY",
    "LA",
    "MA",
    "MD",
    "MI",
    "MN",
    "MO",
    "NC",
    "NE",
    "NH",
    "NV",
    "OH",
    "PA",
    "TX",
    "VA",
    "WA",
    "WI"
  ],
  "websites": [
    "https://clarity-fg.com",
    "https://instagram.com/lake__street",
    "https://lakest.com",
    "https://linkedin.com/COMPANY/LSF"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/296761",
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/lake-street-chicago-il-296761",
  "display_name": "Lake Street",
  "summary": "Lake Street is an SEC-registered investment advisory firm in Chicago, IL, registered since 2018, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated July 6, 2026.",
  "citation": "AdvisorCensus. Lake Street (CRD 296761): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Pension consulting services",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Lake Street compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Lake Street reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)."
    },
    {
      "q": "Where is Lake Street located?",
      "a": "Lake Street's principal office is in Chicago, IL, according to its Form ADV; the August 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Lake Street registered with the SEC or a state?",
      "a": "Lake Street is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 296761."
    },
    {
      "q": "How much does Lake Street manage?",
      "a": "Lake Street reports $1,158,676,142 in regulatory assets under management in its Form ADV filing dated July 6, 2026 (89% discretionary)."
    },
    {
      "q": "How have Lake Street's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Lake Street: Regulatory assets under management: $509,772,192 in the October 2021 data and $1,158,676,142 in the October 2026 data, up 127%. Total employees: 6 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Lake Street serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (304); high net worth individuals (294); pension and profit sharing plans (but not the plan participants or government pension plans) (15)."
    },
    {
      "q": "Which custodians does Lake Street use?",
      "a": "Lake Street's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Raymond James Financial Services, Inc. as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Lake Street report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/296761"
    },
    {
      "q": "What changed in Lake Street's recent Form ADV filings?",
      "a": "In the August 2026 filing data: Added an office in Bethesda, MD. Registered or notice-filed in MD, VA, WA."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 509772192.0,
      "total_employees": 6,
      "filing_date": "2021-02-11"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 880782850.0,
      "total_employees": 10,
      "filing_date": "2022-05-16"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 796367733.0,
      "total_employees": 11,
      "filing_date": "2023-03-17"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1000803506.0,
      "total_employees": 11,
      "filing_date": "2024-02-20"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 961797021.0,
      "total_employees": 8,
      "filing_date": "2025-06-02"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1158676142.0,
      "total_employees": 9,
      "filing_date": "2026-07-06"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-08-01",
      "period_label": "August 2026",
      "notes": [
        "Added an office in Bethesda, MD.",
        "Registered or notice-filed in MD, VA, WA."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $961,797,021 to $1,158,676,142 (+20%).",
        "Registered or notice-filed in LA, NE, NH."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "Raymond James Financial Services, Inc.",
      "name_as_filed": "RAYMOND JAMES FINANCIAL SERVICES, INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/lake-street-chicago-il-296761.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 304,
      "fewer_than_5": false,
      "raum": 92959178.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 294,
      "fewer_than_5": false,
      "raum": 919998138.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 15,
      "fewer_than_5": false,
      "raum": 134394090.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": null,
      "fewer_than_5": true,
      "raum": 4677838.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": null,
      "fewer_than_5": true,
      "raum": 14921.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": true,
      "raum": 6631977.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/296761",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}