Chesterton Tribune



Lakeside Wealth becomes part of CAPTRUST

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Lakeside Wealth Management of Chesterton has joined the firm of CAPTRUST Financial Advisors of Raleigh, N.C., CAPTRUST announced this morning.

Lakeside is bringing to CAPTRUST $1.6 billion in assets under advisement and 27 employees, increasing CAPTRUST’s nationwide headcount to more than 700, its AUA to more than $390 billion, and its assets under management (AUM) to $45 billion.

Lakeside provides retirement plan design, investment management, and participant education for institutions; and financial planning, retirement goal setting, and legacy planning for wealth management clients. Founded in 2002 by CEO Mark Chamberlain, the firm is led by President Tim Rice and senior leaders Chip Mang and Timothy VerShure, who will join CAPTRUST as principals.

"During our diligence process, it occurred to us that because of our business mix, ensemble structure, and culture, we may have been looking for a unicorn,” Chamberlain said. “Then CAPTRUST came along. By aligning ourselves with CAPTRUST, we are confident that our clients will benefit greatly from the added resources of a national firm, and we are excited about continuing to grow as part of the CAPTRUST brand.”

“Lakeside Wealth Management is an ideal fit for CAPTRUST not only because of the alignment across their three lines of businesses, but also because they are a firm that prioritizes giving back to their community,” said Rick Shoff, a managing director in CAPTRUST’s Advisor Group. “Despite these unprecedented times, we are continuing our trajectory of strong organic and inorganic growth.”

“Giving back to the Indiana community has been a core focus for Lakeside since its inception,” CAPTRUST said. “The firm has volunteered more than 20,000 hours and received 43 accolades for their efforts, including being named to the 2019 Invest in Others Charitable Champions List. Lakeside team members will now be able to work with the CAPTRUST Community Foundation, CAPTRUST’s employee-run nonprofit that seeks to enrich the lives of children in the communities they serve, to continue this worthy legacy.”

Named one of the Best Places to Work in Indiana by the Indiana Chamber of Commerce and one of the Best Places to Work for Financial Advisors by Investment News, Lakeside adds $1.1 billion in institutional and $526 million in wealth management assets to CAPTRUST.

“Moving on, Lakeside will be taking on the CAPTRUST name and brand,” CAPTRUST said.

This is CAPTRUST’s 41st transaction since 2006.

CAPTRUST was founded in 1997 in Raleigh, N.C., and has clients in all 50 states, providing “investment advisory, asset management, and planning services to thousands of affluent private clients and institutional investors such as retirement plan fiduciaries, endowments, foundations, and religious entities.”



Posted 6/10/2020




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