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 in your area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Keystone Financial Group Find an Advisor||$899,630,460||$10,000|| || |
|2||Ballast Find an Advisor||$286,581,111||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||D. Scott Neal Find an Advisor||$251,552,117||No set account minimum|| || |
Minimum AssetsNo set account minimum
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|4||Money Watch Advisors, Inc. Find an Advisor||$179,101,556||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Wallace Hart Capital Management Find an Advisor||$173,000,000||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||iTrust Asset Management, LLC Find an Advisor||$122,292,616||$50,000|| || |
How We Found the Top Financial Advisor Firms in Lexington, Kentucky
All the firms on this list are registered with the U.S. Securities and Exchange Commision (SEC). Financial advisors that are registered with the SEC are fiduciaries, which means they're obligated to only give advice that is in their clients' best interests. We removed any firms with disclosures or disciplinary issues and firms that didn’t manage individual accounts. The remaining firms are ordered from most assets under management (AUM) to least.
All information is accurate as of the writing of this article.
Keystone Financial Group
The No. 1 firm on our Lexington list is Keystone Financial Group. This firm is fee-based and has the largest amount in assets under management of any firm on this list. You’ll need a minimum of $10,000 to invest, and the firm has several advisors. Registered in 2014, this financial advisor is the second-youngest on the list after Wallace Hart Capital Management.
Clients can choose from services ranging from financial and retirement planning to risk management and more. You can find Keystone offices throughout the state in Lexington, Somerset, Leitchfield and Mt. Sterling. The firm helps Kentucky residents as well as residents in 37 additional states.
Keystone Financial Group Background
Keystone was founded by Tobin Jenkins, Michael Kretz and Timothy Jenkins. The three are the sole owners and work as advisors for the firm. Toby has worked in the financial services industry since 1997 and Kretz since 2001.
The Lexington office has 10 financial advisors; three advisors have the accredited asset management specialist (AAMS) designation and two are certified financial planners (CFPs). The firm does not employ any chartered financial analysts (CFAs) or certified public accountants (CPAs).
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.
Keystone Financial Group works with LPL Financial, a large financial company, for custody of client assets and model portfolios. Keystone advisors use many of the template portfolios provided by LPL Financial.
Ballast, founded in 2010, is a fee-based Lexington financial advisory firm. Multiple advisors work at the firm, managing hundreds of 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.
John Boardman founded the firm’s predecessor, Boardman Wealth Planning, in 2005. He co-owns Ballast with Andy Reynolds, and serves as CEO. 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 Philosophy
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
The first fee-only firm on our list, 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 CFP and a CPA with the personal financial specialist designation (PFS). The firm has six additional employees, including two CFPs and a certified divorce financial planner (CDFA). DSN has one of the highest certifications-to-employee ratios on this list.
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.
Money Watch Advisors, Inc.
Money Watch 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).
Money Watch Advisors Background
The firm was founded in 1980 by Robert J. Bova under the name MoneyWatch Corporation. Bova still serves as the firm’s chairman and currently owns 40% of the firm. Ramsey P. Bova, the current president of the firm, owns the other 60%.
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.
Money Watch Advisors Investment Strategy
The firm provides investment advice on common stocks, investment trusts, exchange-traded funds, warrants, certificates of deposit, municipal and corporate bonds, mutual funds, variable annuities, U.S. government securities and stock options.
Money Watch’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.
Wallace Hart Capital Management
Formed in 2016, this fee-based firm is the newest on our list. Wallace Hart Capital Management offers investment management, retirement planning and limited financial planning services. The firm requires a minimum account size of $250,000. It primarily serves individuals, families, foundations and corporations. The firm has four advisors on staff.
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.
iTrust Asset Management, LLC
iTrust Asset Management, LLC is a fee-based firm providing a range of advisory services to both individual and institutional clients. The firm currently serves more than 300 clients, including individuals, high-net-worth individuals, pension and profit sharing plans, corporations and state or municipal government entities.
When it comes to advisory fees, iTrust mainly charges asset-based fees, hourly fees and fixed fees. But some advisors also recommend or sell securities for commissions. This can create a conflict of interest if advisors favor commissioned products, but iTrust says it works under a fiduciary responsibility.
Among the firm’s advisors are an accredited asset management specialist (AAMS) and an accredited wealth management advisor (AWMA).
iTrust has a minimum account size requirement of $50,000.
iTrust Asset Management Background
Founded in 2012, iTrust specializes in asset management, financial planning and consulting, wrap fee programs and pension consulting advisory services.
The firm’s owners are Joseph Todd Stricklin, John Francis Gettler Jr. and William Beltzhoover Conner.
iTrust Asset Management Investment Strategy
iTrust applies an array of methods when conducting investment research and formulating investment decisions. These include fundamental analysis and technical analysis. The firm also utilizes long-term purchases, short sales, trading, margin transactions and option writing.