Operating out of West Chester, Pennsylvania, Key Financial, Inc. has a variety of compensation arrangements, but it mainly uses a fee-based fee structure. The firm’s client base includes a nearly even split between those who do and don't have a high net worth. The firm currently has a sizable advisory staff, some of which are representatives of broker-dealers and/or are insurance agents.
Key Financial Background
Key Financial has been in business since 1997. Founder Patricia Clark Brennan serves as president, CEO and chief compliance officer (CCO).
The firm’s team holds certifications like certified financial planner (CFP), chartered financial analyst (CFA), certified fund specialist (CFS), accredited asset management specialist (AAMS), chartered retirement planning counselor (CRPC), certificate in investment performance (CIPM) designation holder and more.
Key Financial Client Types and Minimum Account Sizes
Key Financial serves individuals and high-net-worth individuals, non-high-net-worth individuals, pension plans, profit-sharing plans, state and municipal government entities, trusts, estates, charitable organizations, corporations and other business entities.
The firm imposes a $500,000 minimum account size requirement over all of its services. However, the firm may be willing waive this requirement at its own discretion.
Services Offered by Key Financial
Key Financial’s clients have access to an array of advisory services. These include:
- Portfolio management
- Financial planning
- Cash flow planning
- Income tax planning
- Asset allocation and diversification
- College education and funding alternatives
- Retirement planning
- Asset protection
- Estate planning
- Charitable giving
- Family planning
- Educational seminars
Key Financial Investment Philosophy
Key Financial will customize asset allocations to clients' goals and profiles, typically constructing portfolios with stocks, mutual funds and exchange-traded funds (ETFs). In evaluating investments, it relies on fundamental analysis. Its strategies include long- and short-term purchases, trading, margin transactions and option writing.
Fees Under Key Financial
Key Financial is generally compensated for its investment advisory services through asset-based fees, fixed fees and commissions. For initial financial planning, the firm charges a flat fee that is agreed upon between the advisor and client. When it comes to financial planning and asset management, the firm charges asset-based fees, though there may be other investment-related charges involved as well.
Clients may incur other fees and charges that are exclusive of Key Financial’s fees. These include deferred sales charges, custodial fees, odd-lot differentials, wire transfer and electronic fund fees, taxes on certain transactions and mutual fund and ETF internal management fees.
Key Financial Awards and Recognition
Several news outlets have recognized Patricia Brennan as one of the top financial advisors in the financial services industry. In recent year, Forbes and Barron’s have both featured Brennan across different iterations of their top advisor lists.
What to Watch Out For
Some of the advisors at this firm may receive commissions for the sale of insurance or investment-related products. This may create a potential conflict of interest. That said, as an investment advisor registered with the SEC, the firm is bound by the fiduciary duty to put clients' interests before its own.
How to Open an Account at Key Financial
To open an account with Key Financial, fill out your information on the firm's website or call the firm directly.
Tips to Help You Save for Retirement
- A financial advisor can help you figure out how much you need in retirement and how to get there. Finding a financial advisor doesn't have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Seeing how other people with the same income spend their money can help you identify areas in your budget that you could trim. Get benchmarks for people in your area and with the same size family by using SmartAsset's budget calculator.
All information was accurate as of the writing of this article.
