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Top Financial Advisors in Lexington, KY

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Finding a Top Financial Advisor Firm in Lexington, Kentucky

When you’re on the search for someone to manage your financial future, it can be hard to sort through all the options. SmartAsset narrowed the field for you by compiling a list of Lexington’s top five financial advisor firms. If you need more help finding the perfect fit, try our tailored financial advisor matching tool, which can quickly match you with up to three financial advisors who serve your area.

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Keystone Financial Group Keystone Financial Group logo Find an Advisor

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$1,238,389,104 $10,000
  • Financial planning
  • Portfolio management
  • Educational seminars/workshops

Minimum Assets

$10,000

Financial Services

  • Financial planning
  • Portfolio management
  • Educational seminars/workshops
2 Ballast Ballast logo Find an Advisor

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$462,991,449 No set account minimum
  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors
3 D. Scott Neal D. Scott Neal logo Find an Advisor

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$333,737,325 No set account minimum
  • Financial planning
  • Portfolio management
  • Selection of other advisors
  • Educational seminars

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors
  • Educational seminars

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4 Moneywatch Advisors, Inc. Moneywatch Advisors, Inc. logo Find an Advisor

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$205,990,442 No set account minimum
  • Financial planning
  • Portfolio management
  • Selection of other advisors

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors
5 Investments & Financial Planning, LLC Investments & Financial Planning, LLC logo Find an Advisor

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$223,016,793 No set account minimum
  • Financial plannnig
  • Portfolio management
  • Educational seminars
  • Financial consulting

Minimum Assets

No set account minimum

Financial Services

  • Financial plannnig
  • Portfolio management
  • Educational seminars
  • Financial consulting
6 Alpha Financial Partners LLC Find an Advisor

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$271,241,547 No set account minimum
  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors
7 Wallace Hart Capital Management Wallace Hart Capital Management logo Find an Advisor

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$242,220,000 No set account minimum
  • Financial planning
  • Portfolio management

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
8 Invest Inc. Find an Advisor

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$103,275,363 No minimum
  • Financial planning
  • Portfolio management

 

Minimum Assets

No minimum

Financial Services

  • Financial planning
  • Portfolio management

 

9 iTrust Asset Management, LLC iTrust Asset Management, LLC logo Find an Advisor

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$164,129,677 $50,000
  • Portfolio management
  • Financial planning
  • Pension consulting

Minimum Assets

$50,000

Financial Services

  • Portfolio management
  • Financial planning
  • Pension consulting
10 Paragon Private Wealth Management, LLC Paragon Private Wealth Management, LLC logo Find an Advisor

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$181,785,194 No minimum
  • Financial planning
  • Portfolio management
  • Selection of other advisors
  • Investment consulting

Minimum Assets

No minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors
  • Investment consulting

What We Use in Our Methodology

To find the top financial advisors in Lexington, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.

Keystone Financial Group

The No.1 firm on our list and headquartered in Lexington, Keystone Financial Group manages hundreds of millions in assets, mostly on a discretionary basis. Its three other offices are in Somerset, Leitchfield and Mt. Sterling. The Lexington office has multiple financial advisors, including two accredited asset management specialists (AAMSs) and two certified financial planners (CFPs).  

With a $10,000 minimum investment requirement, fee-based Keystone primarily serves individuals who are not high-net-worth individuals. It also has banks and thrift institutions, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and business entities as clients.

Keystone Financial Group Background

Toby Jenkins, Mike Kretz and Tim Jenkins founded Keystone in 2008. The three are equal partners and work as advisors for the firm. 

The firm offers sponsors a wrap-fee and non-wrap-fee asset management program using LPL Financial Corporation’s Strategic Wealth Management platform. Keystone also provides access to a number of LPL’s model portfolios through its separate wrap-fee program.

Additionally, the firm offers financial planning and consulting, client education services, referral of third-party advisors and retirement plan services. For these services, Keystone charges fees, but advisors who are registered representatives of broker-dealers or insurance agents receive commissions in those capacities. This presents a potential conflict between the interests of the client and the interest of the advisor, but as a fiduciary Keystone is obligated to always put client interests first.

The minimum investment required to open an account is $10,000.

Keystone Financial Group Investment Strategy

The practice uses charting, fundamental and technical methods of analysis. It states that “it is not our typical investment strategy to attempt to time the market, but we may increase cash holdings modestly as deemed appropriate based on your risk tolerance and our expectations of market behavior.” It also notes that it does not primarily recommend one type of security. 

Ballast

Ballast, founded in 2010, is a fee-based Lexington financial advisory firm. Multiple advisors work at the firm, managing millions in client assets. You can become a client with any amount of money, as the firm does not have a minimum account value to meet or a required annual fee. Ballast offers financial planning, investment management, retirement management and more. 

Ballast Background

John Boardman founded the firm’s predecessor, Boardman Wealth Planning, in 2005. He co-owns Ballast with Andy Reynolds, Brian Burton and Cameron Hamilton, and serves as president. His background is in equity trading and bank management. 

Boardman and Reynolds are both certified financial planners (CFPs). The firm has two additional CFPs and a professional with a J.D. and an L.L.M. in taxation. 

Ballast Investment Strategy

Like the majority of financial planning firms, Ballast uses fundamental and technical analysis when evaluating securities. The firm generally uses a long-term investment strategy for client accounts. That means securities will be bought and held for at least a year. The firm invests with a long horizon in mind.

That said, your particular financial objectives and goals will be taken into account when the advisors build your portfolio. Your financial situation, retirement timeline, cash-flow needs and risk tolerance are all aspects that influence your investment plan. 

D. Scott Neal

No.3 on our list and a fee-only firm, D. Scott Neal has millions in assets under management. The firm has been in operation since 1995. D. Scott Neal offers investment management, financial planning and consulting services to clients across the U.S. The firm is headquartered in Kentucky and has no set minimum asset requirement. However, in some cases, a minimum annual fee will be charged. 

Typical clients include individuals, pension and profit-sharing plans, corporations and trusts.  

D. Scott Neal Background

David “Scott” Neal and Jerome Zimmerer own the firm. Neal, president of the firm, has an MBA and is a certified financial planner (CFP) and certified public accountant (CPA). He’s worked in the investment planning sector since 1986. 

Zimmerer has similar certifications; he’s a certified financial planner (CFP) and a service public accountant (CPA) with the personal financial specialist designation (PFS). The firm has several additional employees, including a CFP and a certified divorce financial planner (CDFA). 

D. Scott Neal Investment Strategy

This firm uses both technical analysis and fundamental analysis when evaluating investment vehicles. Technical analysis looks at price and volume information for a particular security in order to predict future price movements or trends. Fundamental analysis is the consideration of markets and industry groups through a variety of factors including earnings, revenue, profit margin and more.

As a client of D. Scott Neal, your portfolio will generally consist of ETFs, mutual funds, individual equity securities, CDs and bonds. The firm has six strategies for client accounts: traditional, wealth preservation, traditional with a market trend overlay, all-equity growth, fixed income and traditional upgrading. You’ll be matched with a strategy based on a variety of factors, including your risk tolerance, time horizon, income and financial objectives. 

Moneywatch Advisors, Inc.

Moneywatch Advisors is a fee-only firm with a significant amount in assets under management. It’s clients are entirely non-high-net-worth individuals, but the firm says it also offers services to retirement plans, trusts, estates and charitable organizations.

The firm doesn’t specify an account minimum, but the average account has roughly $500,000 in assets. Three of its advisors are certified financial planners (CFPs).

Moneywatch Advisors Background

The firm was founded in 1980 by Robert J. Bova under the name MoneyWatch Corporation. Ramsey P. Bova, the current president of the firm, owns 100% of the company stock.

The firm offers wealth and investment management services as well as financial planning services, covering estate planning, retirement planning, tax strategies, debt reduction, education planning and family support planning.

Moneywatch Advisors Investment Strategy

The firm provides investment advice on common stocks, investment trusts, exchange-traded funds (ETFs), warrants, certificates of deposit, municipal and corporate bonds, mutual funds, variable annuities, U.S. government securities and stock options.

Moneywatch’s approach to investment management involves first determining the objectives, preferences and needs of the client, then creating a portfolio of both income and growth investments that’s appropriate for that client.

Investments & Financial Planning

Investments & Financial Planning, LLC is a fee-based firm providing a range of advisory services to both individuals and charitable organizations. 

The firm has no set account minimum. Certain members of its team hold professional designations such as certified financial planner (CFP), certified fund specialist (CFS), chartered financial consultant (ChFC) and retirement income certified professional (RICP). (Advisors may hold more than one designation.)

Investments & Financial Planning Background

Founded in 2012, the firm offers portfolio management and financial planning to its clients. Within this, it offers wrap fee programs

The firm’s owners are David Short and J. Eric Mullins.

Investments & Financial Planning Investment Strategy 

The firm applies investment analyses such as fundamental analysis and technical analysis. In terms of investment strategies, it uses long-term purchases and short-term purchases. Strategies and advice may vary by client, however, based on clients' specific financial situations. The firm decides on investments and allocatiions based on client objectives, risk tolerance, time horizon, liquidity needs and other factors. 

Alpha Financial Partners

Alpha Financial Partners LLC is a fee-based firm providing a range of advisory services to individuals (including high-net-worth individuals), families, trusts, estates, businesses and retirement plans. 

As a fee-based firm, certain of the firm's advisors may sell insurance or securities on a commission basis, which creates a conflict of interest. The firm is obligated to act in clients' best interests, however.

The firm has no set account minimum, but it does require a minimum quarterly fee of $250 to maintain an advisory relationship. Certain members of its team hold professional designations such as certified financial planner (CFP), accredited wealth management advisor (AWMA) and chartered retirement plans specialist (CRPS). (Advisors may hold more than one designation.)

Alpha Financial Partners Background

Alpha Financial Partners was founded in 2019 and also became a registered investment advisor (RIA) in the same year. The firm is owned by AFCT, LLC and Sycamore Rd, LLC. The principal officers of the firm are Marc I. Cobane (co-founder and partner), Aaron P. Ammerman (co-founder and partner) and Gregory M. Turcotte (co-founder, partner and chief compliance officer).

Alpha Financial Partners Investment Strategy 

The firm applies investment analyses such as fundamental analysis and technical analysis. 

In terms of investment strategies, it generally uses long-term purchases. It may hold securities for shorter time periods in order to rebalance a portfolio or meet clients' cash needs. The firm may buy and sell positions that are more short-term depending on clients' goals and other fundamental factors. 

Wallace Hart Capital Management

Formed in 2016, the fee-based firm Wallace Hart Capital Management offers investment management, retirement planning and limited financial planning services. The firm has no set minimum account size. With a relatively small team of advisors, it primarily serves individuals, families, foundations and corporations.

Wallace Hart Capital Management Background

Jeremy Wallace, chief investment officer, and Andrew Hart, chief planning strategist, founded the firm and still own the company. They’re both certified financial planners (CFPs) and have backgrounds working for large companies such as UBS Financial Services, Merrill Lynch and World Bank Credit Union. 

Wallace Hart employs two additional advisors: wealth management specialist Jessica Bedell and financial advisor Chad Kobes. 

Wallace Hart Capital Management Investment Strategy

Advisors at the firm say their investment philosophy is simple: “As the market trends upward, we invest to grow your account. When the market shifts… Our process will switch to preserve your capital.” 

As a Wallace Hart client, you’ll undergo a three-step planning process: understand, analyze and guide. The first step involves conversations with your advisor about your financial objectives, your family goals and what’s important to you. Analyze comes next: The firm will go through your sources of income, liabilities, cash flow and more. Finally, the firm will help guide you to reach your financial goals. 

The firm uses fundamental analysis, as well as strategies such as long-term purchases, short-term purchases, short sales, margin transactions, trading and options trading/writing.

Invest Inc.

Rounding out the top-8 advisor firms in Lexington is Invest Inc., which is its only location. Invest Inc. is a fee-only firm that works to serve individuals in need of financial planning services, portfolio management and/or participate in education seminars/workshops. 

The firm does not have an investment minimum.

Invest Inc. Background

Founded in 1996 by John D. Thompson, he is also the company president and is 100% stockholder of Invest Inc.

In 1996, John had a vision for the company that focused on providing investment clients with access to tailored investment advice and to provide a personal touch to  client service that they could not get in large brokerage houses. John is also President of Thompson Financial Group, Inc, which is an accounting firm.

Invest Inc. Strategy

Invest Inc.'s primary investment strategy on client accounts is strategic asset allocation, which utilizes mutual funds. According to Invest Inc. it means that they use actively-managed funds where there are greater opportunities to achieve an investment rate of return while attempting to diversify risk. Portfolios are globally diversified to control the risk associated with traditional markets.

Invest Inc. also utilizes security analysis methods that can include charting, fundamental analysis, technical analysis, and cyclical analysis. The purpose of charting analysis is to provide a way of gathering and processing price and volume information of a particular security by applying mathematical equations and then plotting the resulting data onto graphs in order to predict future price movements. 

 

iTrust Asset Management

iTrust Asset Management is a fee-based firm that serves individuals, high-net-worth individuals, pension and profit sharing plans and charitable organizations. The firm requires a minimum investment amount of $50,000 to open an account.

According to the firm, generally the minimum account balance is not negotiable and be required throughout the course of the client's relationship with the firm. Also, the firm's maximum annual advisory fee to be charged for its asset management service will not exceed 1.5%.

iTrust Asset Management Background

Founded in 2012, the iTrust Asset Management is a limited liability company that was formed in Kentucky. The owners Joesph Stricklin, John Getter Jr. and William Conner own one-third of the firm, respectively.

As part of its asset management service, the firm creates a portfolios, which consist of individual stocks or bonds, exchange traded funds (ETFs) options, mutual funds and other public and private securities or investments.

iTrust Asset Management Investing Strategy

The firm's investing methods utlizes fundamental analysis and technical analysis. As far as strategies go, the firm uses long-term purchases, which are bought and held for at least year and trades that are sold in 30 days or less. In addition, iTrust uses short sales, option writing and margin transactions. 

Paragon Private Wealth Management

Paragon Private Wealth Management rounds out our top 10 advisor list in Lexington. The fee-based firm serves individuals, high-net-worth individuals, as well as corporations and other businesses. In terms of high-net-worth individuals, the firm also works with world-class athletes and entertainers.

The firm doesn't have a minimum requirement to open an account.

Paragon Private Wealth Management Background

Founded in 2021, the firm is owned by Justin Sherman and Catherine Salsman, who is a certified financial planner (CFP).

The firm offers directly or through an affiliate, clients a broad range of financial planning and consulting services, which include any or all of the following functions: business planning, cash flow analysis, estate planning, insurance planning, retirement planning, bill paying, tax planning investment reporting on alternatives and education planning.

Paragon Private Wealth Management Investing Strategy

The firm uses fundamental analysis while employing an asset allocation strategy that is based on a derivative of Modern Portfolio Theory (MPT). According to the firm, when using this strategy, the process, "Typically involves an analysis of an issuer’s management team, investment strategies, style drift, past performance, reputation and financial strength in relation to the asset class concentrations and risk exposures of the Firm’s model asset allocations."

How Long $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.