Before he founded Lake Road Advisors, Paul Sydlansky, CFP®, spent 13 years at Morgan Stanley. That experience taught him a lot, including what was missing from the way most firms approach financial planning. In this video, he shares the story behind LRA, including what the name means, what he wanted to do differently, and where the firm is headed after 10 years of growth.

Topics Discussed:

• Why Paul left Morgan Stanley after 13 years
• What the firm’s name actually means
• How working inside a big firm shaped LRA’s approach
• Building a firm focused on planning, not products
• Ten years of growth with the same mission

Transcript:

I started my career working at Morgan Stanley back in 1999. After 13 years working in institutional equities, by most measures, my career was headed in the right direction. However, my life was changing. I had three kids under three years old, and while financially we were doing well, I was not on the path that I wanted to be. Something needed to change. 

My in- laws introduced me to a cottage on East Lake Road along Keuka Lake in the Finger Lakes region of upstate New York. For me, it was a place that for the first time in a long time, I was able to take a step back and actually be intentional and think about my future rather than just getting caught up in the rat race. The name Lake Road Advisors represents that planning, that intention that we all need to take when we think about our future.

It’s about understanding where we want to be and setting a course to get there. After spending my entire career in a large investment bank, I realized what it was built to do and what it wasn’t. For me, the idea of Lake Road Advisors was to help people figure out a plan, not focus just on investments, but the entire picture, to be a guide and help them get wherever they want to go. After spending the first part of my career in a large investment bank, I knew what it was built to do, who it was built to help, and who it wasn’t. For me, Lake Road Advisors was built not just to talk about investments, but more importantly, your plan, how you’re getting there, how you’re staying on track. It was built to be a partner with our clients to help them achieve those goals, whatever they may be.

We are extremely fortunate to have just crossed our 10-year anniversary. Our clients have grown, our firm has grown, but one thing has remained the same. We are here to help you build a path, be an accountability partner, and ultimately achieve your goals. The mission is simple, and it remains the same today.

Lake Road Advisors (LRA) is a virtual wealth management firm headquartered in Corning, NY, with offices in Ithaca, NY, and Vancouver, WA. Founded by Paul Sydlansky, CFP®, in 2016, it serves successful couples planning their next chapter—whether that’s retirement, part-time work, or a less demanding second act. Paul has worked in the financial services industry for 25+ years. Prior to founding Lake Road Advisors, he worked at Morgan Stanley in Manhattan for 13 years, where he was a senior-level manager within the Institutional Equities Department. In 2018, he was named to Investopedia’s Top 100 Financial Advisors list. Paul received a Bachelor’s degree in Economics from Marist College and holds an MBA from New York University Leonard N. Stern School of Business. Paul is a CERTIFIED FINANCIAL PLANNER® and a member of the National Association of Personal Financial Advisors (NAPFA) and the XY Planning Network. They can be reached by phone at the Corning, NY office at (607) 438-2914, Ithaca, NY office at (607) 463-8400, or Vancouver, WA office at (607) 292-2172 or at the firm’s website at https://www.lakeroadadvisors.com/