Wealth manager, independent · Lexington, KY
Keystone Financial Group, LLC
SEC-registered investment adviser · CRD 170201 · SEC 801-79274
At a glance
Keystone Financial Group, LLC is an SEC-registered investment adviser based in Lexington, Kentucky, with $2.3B in regulatory assets under management as of its Form ADV filed September 29, 2026. It reports 6,602 individual clients, 464 of them high-net-worth, holding an average of about $0.3 million each, and 49 employees. That ranks it 478th among the nation’s 5,657 independent wealth management RIAs and 3rd of 47 in Kentucky. It reports 2 custodians for its clients’ separately managed accounts: LPL Financial and Charles Schwab.
Main office 859-317-8316keystoneky.comAs filed on Form ADV
- Regulatory AUM
- $2.3B
- Rank among independent wealth managers
- #478 of 5,657
- Rank among all SEC RIAs
- #3,314 of 17,210
- Rank in Kentucky
- #3 of 47
- Individual clients
- 6,602
- High-net-worth clients
- 464
- Accounts
- 6,628
- Discretionary
- 99% of AUM
- Employees
- 49
- Advisory staff
- 33
- Offices
- 9
Owners and executives on its Form ADV
- Michael W. KretzPartner
- Tobin R. JenkinsPartner and Chief Compliance Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Keystone Financial Group, LLC is a hybrid RIA: 30 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed March 2026) names LPL Financial as the broker-dealer its advisers are registered with.
Our representatives, in their separate capacity as registered representatives of LPL, may retain a portion of the commissions charged to you.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 464 | $1.2B | 51% |
| Individuals | 6,138 | $1.1B | 48% |
| Corporations or other businesses | 13 | $30M | 1% |
| Charitable organizations | 13 | $5M | <1% |
Disciplinary disclosures
Keystone Financial Group, LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗keystoneky.com ↗
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The full record on Keystone Financial Group, LLC
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 1,720 peers of its type and size
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- 2 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Kentucky
All of Kentucky →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Meridian Wealth Management, LLCLexington | $5.0B | 5,366 |
| MCF Advisors, LLCLexington | $4.7B | 3,440 |
| Journey Advisory Group, LLCCovington | $1.7B | 859 |
| The Gleason Group, Inc.Prospect | $1.6B | 262 |
| Legacy Financial Advisors, Inc.Covington | $1.5B | 1,061 |
| Strategic Wealth Investment Group, LLCLouisville | $1.4B | 3,900 |
Background
Questions
How much does Keystone Financial Group, LLC manage?
Keystone Financial Group, LLC reports $2.3B in regulatory assets under management across 6,628 accounts, 99% of it on a discretionary basis, on its Form ADV filed September 29, 2026.
How many clients does Keystone Financial Group, LLC have?
It reports 6,602 individual clients: 464 high-net-worth individuals and 6,138 other individuals. Individuals account for about 98% of its regulatory assets.
Where is Keystone Financial Group, LLC headquartered?
Its main office is in Lexington, Kentucky. It reports 9 offices in total and 49 employees, 33 of whom perform investment advisory functions.
How does Keystone Financial Group, LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Keystone Financial Group, LLC use?
It reports 2 custodians for its clients’ separately managed accounts: LPL Financial and Charles Schwab. On Schedule D of its Form ADV filed September 29, 2026, it reports these amounts held: LPL Financial ($1.8B); Charles Schwab ($342M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Keystone Financial Group, LLC a hybrid RIA with a broker-dealer?
Keystone Financial Group, LLC is a hybrid RIA: 30 of its employees are also registered representatives of a broker-dealer. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Keystone Financial Group, LLC a fiduciary?
As an SEC-registered investment adviser, Keystone Financial Group, LLC owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 30 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Keystone Financial Group, LLC’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-09-29), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →