LS Investment Advisors provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions. Financial planning was provided to 101–250 clients last fiscal year.
LS Investment Advisors reports 193 clients. They include 131 high-net-worth individuals, 41 individual clients and 8 charitable organizations. Of its assets, 100.0% ($932M across 432 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 21% | 3% |
| High-net-worth individuals | 68% | 79% |
| Pension and profit-sharing plans | 1% | 2% |
| Charitable organizations | 4% | 8% |
| Insurance companies | 2% | 4% |
| Other client typesCorporations and other businesses | 4% | 5% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 41 | $24.5M | 2.6% | $598K |
| High-net-worth individuals | 131 | $735M | 78.8% | $5.61M |
| Pension and profit-sharing plans | Fewer than 5 | $17.7M | 1.9% | $8.83M |
| Charitable organizations | 8 | $78.7M | 8.4% | $9.84M |
| Insurance companies | Fewer than 5 | $33.1M | 3.6% | $11M |
| Corporations and other businesses | 8 | $43.6M | 4.7% | $5.45M |
| Total | 193 | $932M | 100% | — |
- Clients
- 41
- Regulatory AUM
- $24.5M
- AUM share
- 2.6%
- Avg. per client
- $598K
- Clients
- 131
- Regulatory AUM
- $735M
- AUM share
- 78.8%
- Avg. per client
- $5.61M
- Clients
- Fewer than 5
- Regulatory AUM
- $17.7M
- AUM share
- 1.9%
- Avg. per client
- $8.83M
- Clients
- 8
- Regulatory AUM
- $78.7M
- AUM share
- 8.4%
- Avg. per client
- $9.84M
- Clients
- Fewer than 5
- Regulatory AUM
- $33.1M
- AUM share
- 3.6%
- Avg. per client
- $11M
- Clients
- 8
- Regulatory AUM
- $43.6M
- AUM share
- 4.7%
- Avg. per client
- $5.45M
Total
- Clients
- 193
- Regulatory AUM
- $932M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
LS Investment Advisors charges 0.50%–0.95% a year for its Portfolio Management Services. Each asset band is charged at its own rate. The fee is negotiable and has a $10,000 annual minimum.
| Asset band | Annual rate |
|---|---|
| $0–$2M | 0.95% |
| $2M–$5M | 0.80% |
| $5M–$10M | 0.60% |
| $10M and above | 0.50% |
Fee details and sources
Mark Shank owns 25% to 50% of LS Investment Advisors. The leadership team of LS Investment Advisors includes President Daniel Kostaroff and Chief Compliance Officer Joann Kayser. It has 10 employees, 4 of them in advisory roles.
Leadership
Daniel KostaroffExecutive Committee Member, President, Owner- Joann KayserExecutive Committee Member, Chief Compliance Officer, COO, Owner
- Kristine HollisterExecutive Committee Member, Chief Business Officer, Owner
- Mark ShankExecutive Committee Member, Owner
Investment adviser representatives
4 representatives listed in the SEC register as of 9 October 2026.
Staff
- 10 employees
- 4 in advisory functions
- 4 state-registered reps
- Owns 25% to 50% of LS Investment Advisors, LLC
Mark Shank
Control person · since February 2008
- Owns 10% to 25% of LS Investment Advisors, LLC
Kristine Hollister
Control person · since September 2021
- Owns 10% to 25% of LS Investment Advisors, LLC
Daniel Kostaroff
Control person · since October 2021
- Owns 10% to 25% of LS Investment Advisors, LLC
Joann Kayser
Control person · since June 2022
LS Investment Advisors’ regulatory assets fell from $1.02B (May 2021) to $932M (June 2026); clients fell from 212 to 193 and employees from 11 to 10.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| June 2026 | $932M | 193 | 10 | 3 |
| April 2025 | $916M | 197 | 10 | 3 |
| July 2024 | $803M | 191 | 12 | 3 |
| August 2023 | $736M | 190 | 12 | 3 |
| July 2022 | $913M | 183 | 10 | 3 |
| May 2021 | $1.02B | 212 | 11 | 4 |
Besides its headquarters, LS Investment Advisors has 2 offices, with 3 listed addresses in Florida, Michigan and Wisconsin.
Florida · 1 listed address
- 11555 Heron Bay BLVD, Coral Springs
Michigan · 1 listed address
- 39533 Woodward Avenue, Suite 307, Bloomfield HillsHQ
Wisconsin · 1 listed address
- 839 N. Jefferson Street, Milwaukee
Other business names
LS Investment Advisors has reported 3 other business names to the SEC.
- Lsia
- Lsia Wealth
- Lsia Wealth Management
Contact and registration details
- Legal name
- LS Investment Advisors, LLC
- Headquarters
- 39533 Woodward Avenue, Suite 307, Bloomfield Hills, MI 48304-5106
- Website
- my-lsia.com
- Phone
- 414-459-1759
- @lsiawealth
- SEC file
- 801-69340
- Founded
- 2008
- Structure
- Michigan LLC
- Fiscal year end
- December
LS Investment Advisors uses Charles Schwab ($584M) as custodian for its separately managed accounts. LS Investment Advisors does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $584M100%
At year end, LS Investment Advisors’ separately managed accounts were mostly in stocks (66%) and bonds (15%). Its reported 13F holdings for the quarter ended 30 June 2026 total $738M across 127 positions; the largest are Apple Inc. (10.7%), Alphabet Inc. (6.1%) and Vanguard Whitehall Fds (4.9%).
What the accounts hold
- Stocks66%
- Funds14%
- Bonds15%
- Investment grade corporate bonds11%
- State and local bonds3%
- U.S. government and agency bonds1%
- Cash5%
Reported 13F holdings
- $738M
- Reported 13F value
- 127
- Positions
- 43.6%
- In the 10 largest
- +10.4%
- Value vs. prior quarter
- Apple Inc.10.7%
- Alphabet Inc. · Cap Stk CL C6.1%
- Vanguard Whitehall Fds · Intl High ETF4.9%
- Caterpillar Inc.4.2%
- Microsoft Corp.3.9%
- Nvidia Corporation3.3%
- Visa Inc. · Com CL A2.8%
- Alphabet Inc. · Cap Stk CL A2.7%
- Broadcom Inc.2.5%
- Home Depot Inc.2.5%
Together, the ten largest are 43.6% of reported value.
How many clients does LS Investment Advisors have?
LS Investment Advisors has 193 clients and manages $932 million for them, as of June 2026. They include 131 high-net-worth individuals, 41 individual clients and 8 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 3 June 2026
What services does LS Investment Advisors offer?
LS Investment Advisors provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does LS Investment Advisors charge?
LS Investment Advisors charges 0.50%–0.95% a year for its Portfolio Management Services. Each asset band is charged at its own rate. The fee is negotiable and has a $10,000 annual minimum.
Which custodians does LS Investment Advisors use?
LS Investment Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $584M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 June 2026
How many financial advisors does LS Investment Advisors have?
LS Investment Advisors has 4 investment adviser representatives registered with state securities authorities, out of 10 employees, and 4 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 LS Investment Advisors invest in?
At the end of its last fiscal year, LS Investment Advisors’ separately managed accounts held 66% exchange-traded equities, 14% registered funds (mutual funds, ETFs, BDCs), 11% investment grade corporate bonds, 5% cash and equivalents, 3% state and local bonds and 1% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns LS Investment Advisors?
LS Investment Advisors’ direct owners are Mark Shank, Kristine Hollister, Daniel Kostaroff and Joann Kayser, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 3 June 2026
How does LS Investment Advisors get paid?
LS Investment Advisors is paid through a percentage of assets under management. 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 LS Investment Advisors?
LS Investment Advisors’ main office is at 39533 Woodward Avenue, Suite 307, Bloomfield Hills, MI 48304-5106. Its phone number is 414-459-1759. Its website is my-lsia.com.