Frequently asked questions
The questions people actually ask before they book a call. If yours is not here, ask it on the call — or send it to us and we will add the answer.
Are you a fiduciary?
Yes. Lake House Private Wealth Management is an independent fiduciary firm and a dba of MGO One Seven, LLC, an SEC-registered investment adviser. That duty applies at all times, in writing, not only when a particular rule requires it.
How are you compensated?
[FEE STRUCTURE — to be completed. This is the single highest-intent question on the site and it should be answered plainly, with numbers if compliance permits. See the Fees page.]
What is your minimum?
[MINIMUMS BY ENGAGEMENT TYPE — to be completed.]
Who do you typically work with?
Corporate executives and founders whose wealth is concentrated in employer equity and who are approaching or navigating a liquidity event; airline pilots and other high-earning professionals; and business owners responsible for a company retirement plan.
Do you work with people before a deal, or only after?
Before is considerably better. Most of the meaningful levers — withholding, concentration, charitable timing, Section 280G mitigation, tax-year positioning — close as the deal closes. We do work with people after a transaction, but the menu of options is smaller.
Do I need to sell my company stock to work with you?
No. Concentration is a decision that depends on the rest of your balance sheet, and for some clients a large position is entirely defensible. What we insist on is that it be a deliberate decision rather than a default.
Will you work with my existing CPA and attorney?
Yes, and in most cases that produces a better result than replacing them, because they already know your history. A large part of the work is making sure the three views agree with each other.
What happens on the first call?
Thirty minutes. We talk through what is happening, what is already decided, and what is still open. No preparation is required and there is no obligation. If we are not the right fit, we will tell you.
It's a conversation, not a pitch — what does that actually mean?
It means the first call is diagnostic. Most of it is us asking questions. If the honest answer is that you do not need us, or that somebody else is a better fit for your situation, that is what you will hear.
Where are my assets held?
At independent custodians — Charles Schwab, Fidelity, and Raymond James. We never take custody of client assets.
Do you sell proprietary products?
No. Lake House holds no proprietary investment products. That structure matters most when the right advice is to sell a large position in the company that employs you.
Do I have to be local to work with you?
No. Our office is in Yardley, Pennsylvania and we work in person across the Philadelphia–Princeton corridor, but we serve clients nationally and most of the work happens remotely.
What if I move to another state?
The relationship continues. State residency changes some tax planning inputs, sometimes significantly, which is one of the things we would work through with you.
How often will we meet?
It depends on what is happening in your life rather than on a fixed schedule. A year with a liquidity event, a job change, or a retirement transition needs considerably more attention than a quiet one.
Can you help with my 401(k) at work?
Yes. That includes the investment lineup available to you, how much you can actually contribute given plan design, and whether your plan permits after-tax contributions and in-plan conversions.
Do you provide tax preparation?
No. We do tax planning and modelling, and we coordinate closely with your CPA, who prepares and files the returns.
Do you provide legal advice?
No. We read deal and grant documents to understand their financial consequences, and we work alongside your attorney, who advises on the legal questions.
What is the Omega Strategy?
It is one of the strategies we run. It is described on its own page within Investment Strategies, alongside our broader philosophy and approach to portfolio construction.
How do I check your background?
Through FINRA BrokerCheck and the SEC's Investment Adviser Public Disclosure site, both linked in the footer of every page. Form ADV Part 2 is available on request.
What if I'm not ready to talk to anybody yet?
That is common and entirely reasonable. The guides and glossary on this site are free and ungated, and the Discovery Workbook contains the questions we would ask you, so you can work through them on your own time.
Start with a conversation.
Thirty minutes. We'll talk through what's happening, what's already decided, and what's still open. If we're not the right fit, we'll say so.
- It's a conversation, not a pitch
- No preparation required
- No obligation of any kind
Not ready to talk? Download the Discovery Workbook — the questions we'd ask you, so you can work through them on your own time.