# Lake Street

> 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.

- CRD: 296761
- Filed as: LAKE STREET
- Legal name: Lake Street Private Wealth, LLC
- Also doing business as: CLARITY FINANCIAL GROUP, ELARIN WEALTH ADVISORS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: July 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/296761
- AdvisorCensus page: https://advisorcensus.com/firm/lake-street-chicago-il-296761

## Quick answers

**How is Lake Street compensated?**
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).

**Where is Lake Street located?**
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).

**Is Lake Street registered with the SEC or a state?**
Lake Street is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 296761.

**How much does Lake Street manage?**
Lake Street reports $1,158,676,142 in regulatory assets under management in its Form ADV filing dated July 6, 2026 (89% discretionary).

**How have Lake Street's assets and staff changed since 2021?**
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.

**What types of clients does Lake Street serve?**
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).

**Which custodians does Lake Street use?**
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.

**Does Lake Street report any disciplinary disclosures?**
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

**What changed in Lake Street's recent Form ADV filings?**
In the August 2026 filing data: Added an office in Bethesda, MD. Registered or notice-filed in MD, VA, WA.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Raymond James Financial Services, Inc.

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.

### Regulatory assets under management (Item 5.F)
- Total: $1,158,676,142
- Discretionary: $1,030,355,372
- Non-discretionary: $128,320,770

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 304 | $92,959,178 |
| High net worth individuals | 294 | $919,998,138 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 15 | $134,394,090 |
| Charitable organizations | Fewer than 5 | $4,677,838 |
| Insurance companies | Fewer than 5 | $14,921 |
| Corporations or other businesses not listed above | Fewer than 5 | $6,631,977 |

### Advisory services (Item 5.G)
- 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

### Firm details
- Registered since: 2018 (8 years)
- Employees: 9 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, FL, GA, IL, IN, KY, LA, MA, MD, MI, MN, MO, NC, NE, NH, NV, OH, PA, TX, VA, WA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Bethesda, MD

### Websites listed on Form ADV (Item 1.I)
- clarity-fg.com
- lakest.com
- Instagram @lake__street
- LinkedIn @LSF

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $509,772,192 | 6 | February 11, 2021 |
| October 2022 | $880,782,850 | 10 | May 16, 2022 |
| October 2023 | $796,367,733 | 11 | March 17, 2023 |
| October 2024 | $1,000,803,506 | 11 | February 20, 2024 |
| October 2025 | $961,797,021 | 8 | June 2, 2025 |
| October 2026 | $1,158,676,142 | 9 | July 6, 2026 |

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.

## Changes in the filing (last 12 months)

### August 2026
- Added an office in Bethesda, MD.
- Registered or notice-filed in MD, VA, WA.

### April 2026
- Regulatory assets under management went from $961,797,021 to $1,158,676,142 (+20%).
- Registered or notice-filed in LA, NE, NH.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lake Street (CRD 296761): Form ADV filing data as of October 2026.