AdvisorCensus / Financial advisors / Illinois / Chicago / Lakewood Asset Management, LLC
Lakewood Asset Management, LLC is an SEC-registered investment advisory firm in Naperville, IL, registered since 2018, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated August 25, 2026.
Quick answers
From the filingHow is Lakewood Asset Management, LLC compensated?
On its Form ADV (Item 5.E, October 2026), Lakewood Asset Management, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).
What does Lakewood Asset Management, LLC's brochure say about its fees?
Its Form ADV Part 2A brochure dated August 25, 2026 states: Asset-based fee: up to 1.5% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Lakewood Asset Management, LLC located?
Lakewood Asset Management, LLC's principal office is in Naperville, IL, according to its Form ADV; the September 2026 filing also lists 2 other offices (Schedule D, Section 1.F).
Is Lakewood Asset Management, LLC registered with the SEC or a state?
Lakewood Asset Management, LLC is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 174887.
How much does Lakewood Asset Management, LLC manage?
Lakewood Asset Management, LLC reports $248,655,064 in regulatory assets under management in its Form ADV filing dated August 25, 2026 (92% discretionary).
How have Lakewood Asset Management, LLC's assets and staff changed since 2021?
In the Form ADV data for Lakewood Asset Management, LLC: Regulatory assets under management: $191,088,424 in the October 2021 data and $248,655,064 in the October 2026 data, up 30%. Total employees: 3 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Lakewood Asset Management, LLC serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (85); high net worth individuals (70); charitable organizations (1).
Which custodians does Lakewood Asset Management, LLC use?
Lakewood Asset Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.
Does Lakewood Asset Management, LLC 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/174887
What changed in Lakewood Asset Management, LLC's recent Form ADV filings?
In the June 2026 filing data: Changed its office addresses in Chicago, IL.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Fixed fees (other than subscription fees)
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAsset-based fee: up to 1.5% of assets a year (the maximum the brochure states)
The brochure's wording
Our maximum investment advisory fee is 1.50% or we may negotiate a lower advisory fee. Specific advisory fees are set forth in your Investment Management Agreement.
As stated in the firm's Form ADV Part 2A brochure dated August 25, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$248,655,064 as of October 2026, filing dated August 25, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Financial planning services
- Portfolio management for individuals and/or small businesses
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2018 (8 years)
- Employees
- Total: 5. Performing investment advisory functions: 4.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- Other offices (Schedule D, Section 1.F)
-
2 other offices, as of the September 2026 filing
- States registered or notice-filed
-
4 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $248,655,064 | 5 | August 25, 2026 |
| October 2025 | $220,212,292 | 4 | July 28, 2025 |
| October 2024 | $208,427,448 | 4 | June 24, 2024 |
| October 2023 | $188,803,764 | 3 | March 30, 2023 |
| October 2022 | $189,873,466 | 3 | March 24, 2022 |
| October 2021 | $191,088,424 | 3 | June 23, 2021 |
Regulatory assets under management: $191,088,424 in the October 2021 data and $248,655,064 in the October 2026 data, up 30%.
Total employees: 3 in October 2021 and 5 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- June 2026
- Changed its office addresses in Chicago, IL.
- April 2026
- Regulatory assets under management went from $220,212,292 to $248,655,064 (+13%).
- Added an office in Chicago, IL.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Lakewood Asset Management, LLC (CRD 174887): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/lakewood-asset-management-llc-naperville-il-174887