LK&A Investment Counsel

LK&A Investment Counsel provides individualized, discretionary portfolio management primarily to high‑net‑worth individuals and to other individual investors, trusts, foundations and limited liability companies. The firm manages approximately $540 million on a discretionary basis and documents client objectives and restrictions in a written investment plan at the outset of the relationship.

The firm’s investment approach emphasizes direct holdings in larger‑capitalization equities selected through fundamental and firm‑generated research and a macroeconomic outlook, with equities generally held at least one year and portfolios typically kept relatively concentrated (often fewer than 40 stocks). For the fixed‑income portion, LK&A builds bond ladders of municipal, corporate and U.S. Treasury securities and commonly treats multiple accounts for a client as a single managed portfolio, while generally avoiding mutual funds, ETFs and derivatives.

Notably, a compact senior investment team of two portfolio managers oversees the firm’s $540 million in assets, resulting in an unusually high AUM per advisor relative to peer team firms. The combination of concentrated, long‑term equity positions, client‑specific written plans, and structured bond ladders differentiates its approach from many team firms that employ broader diversification or pooled vehicles.