Lake Avenue Financial provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers. Financial planning was provided to 11–25 clients last fiscal year.
Lake Avenue Financial reports 294 clients. They include 257 individual clients, 36 high-net-worth individuals and 1 banking or thrift institution. Of its assets, 100.0% ($155M across 731 accounts) are managed with discretion. It advised 6 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 87% | 42% |
| High-net-worth individuals | 12% | 52% |
| Banking or thrift institutions | <1% | 7% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 257 | $64.6M | 41.7% | $251K |
| High-net-worth individuals | 36 | $79.9M | 51.6% | $2.22M |
| Banking or thrift institutions | Fewer than 5 | $10.3M | 6.6% | $10.3M |
| Total | 294 | $155M | 100% | — |
- Clients
- 257
- Regulatory AUM
- $64.6M
- AUM share
- 41.7%
- Avg. per client
- $251K
- Clients
- 36
- Regulatory AUM
- $79.9M
- AUM share
- 51.6%
- Avg. per client
- $2.22M
- Clients
- Fewer than 5
- Regulatory AUM
- $10.3M
- AUM share
- 6.6%
- Avg. per client
- $10.3M
Total
- Clients
- 294
- Regulatory AUM
- $155M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 6
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Lake Avenue Financial charges up to 1.75% a year for its Portfolio management services. The fee is billed in advance or in arrears and is negotiable. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Financial planning and consulting
- Negotiable fixed fee of up to $20,000, or an hourly fee of up to $600.
- Lake Avenue Academy subscription
- Academy is $499 a year and Blueprint is $999, payable annually.
Alex Chalekian owns 75% or more of Lake Avenue Financial. It has 5 employees, 3 of them in advisory roles.
Staff
- 5 employees
- 3 in advisory functions
- 3 state-registered reps
- 2 soliciting firms
- Owns 75% or more of Lake Avenue Financial LLC
Alex Chalekian
Control person · since June 2021
Lake Avenue Financial’s regulatory assets grew from $107M (July 2022) to $155M (March 2026); clients rose from 238 to 294 and employees fell from 6 to 5.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $155M | 294 | 5 | 4 |
| Jul 2025July 2025 | $138M | 273 | 5 | 4 |
| Jul 2024July 2024 | $115M | 288 | 5 | 3 |
| Mar 2023March 2023 | $102M | 271 | 7 | 3 |
| Jul 2022July 2022 | $107M | 238 | 6 | 2 |
Besides its headquarters, Lake Avenue Financial has 3 offices (2 private residences, listed without an address), with 2 listed addresses in 1 state.
California · 2 listed addresses
- 301 N Lake Ave, Suite 830, PasadenaHQ
- 21550 W Oxnard Street, Woodland Hills
Other business names
Lake Avenue Financial has reported 2 other business names to the SEC.
- First Team Advisors
- Sikma Sound Financial
Contact and registration details
- Legal name
- Lake Avenue Financial LLC
- Headquarters
- 301 N Lake Ave, Suite 830, Pasadena, CA 91101
- Website
- lakeave.com
- Phone
- 626-689-2012
- @lake-ave
- SEC file
- 801-122031
- Structure
- California LLC
- Fiscal year end
- December
Lake Avenue Financial’s named custodians for separately managed accounts are Altruist ($80.6M, 52%), Fidelity ($70M, 45%) and LPL Financial ($4.06M, 3%). Lake Avenue Financial does not have custody of client assets.
- AltruistAltruist Financial LLC · Culver City, CA · $80.6M52%
- FidelityFidelity Distributors Company LLC · Smithfield, RI · $70M45%
- LPL FinancialLPL Financial LLC · Fort Mill, SC · $4.06M3%
At year end, Lake Avenue Financial’s separately managed accounts were mostly in funds (79%) and stocks (18%).
What the accounts hold
- Stocks18%
- Funds79%
- Cash3%
How many clients does Lake Avenue Financial have?
Lake Avenue Financial has 294 clients and manages $155 million for them, as of March 2026. They include 257 individual clients, 36 high-net-worth individuals and 1 banking or thrift institution.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 23 March 2026
What services does Lake Avenue Financial offer?
Lake Avenue Financial provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Lake Avenue Financial charge?
Lake Avenue Financial charges up to 1.75% a year for its Portfolio management services. The fee is billed in advance or in arrears and is negotiable.
Source: LAKE AVENUE FINANCIAL ADV PART 2A AND APPENDIX 1 BROCHURE, filed 23 March 2026
Which custodians does Lake Avenue Financial use?
Lake Avenue Financial’s separately managed account assets are held at Altruist Financial LLC (Culver City, CA), with $80.6M, Fidelity Distributors Company LLC (Smithfield, RI), with $70M and LPL Financial LLC (Fort Mill, SC), with $4.06M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 23 March 2026
How many financial advisors does Lake Avenue Financial have?
Lake Avenue Financial has 3 investment adviser representatives registered with state securities authorities, out of 5 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Lake Avenue Financial invest in?
At the end of its last fiscal year, Lake Avenue Financial’s separately managed accounts held 79% registered funds (mutual funds, ETFs, BDCs), 18% exchange-traded equities and 3% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Lake Avenue Financial?
Lake Avenue Financial’s direct owner is Alex Chalekian (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 23 March 2026
How does Lake Avenue Financial get paid?
Lake Avenue Financial is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Lake Avenue Financial?
Lake Avenue Financial’s main office is at 301 N Lake Ave, Suite 830, Pasadena, CA 91101. Its phone number is 626-689-2012. Its website is lakeave.com.
