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.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
Keystone Financial GroupFind an Advisor
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D. Scott NealFind an Advisor
No minimum, but in some cases a minimum fee may be imposed.
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No minimum, but in some cases a minimum fee may be imposed.
BallastFind an Advisor
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Wallace Hart Capital ManagementFind an Advisor
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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. These firms are also under government rules and regulations - which means more client protection. 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.
Keystone Financial Group
The No. 1 firm on our Lexington list is Keystone Financial Group. This firm is fee-based and has $302 million in assets under management. You’ll need a minimum of $10,000 to invest, and the firm has 20 advisors. Registered in 2014, this financial advisor is the second-youngest on the list after Wallace Hart Capital Management (No. 4).
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 employees 13 professionals, including 10 financial advisors and three support staff. 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). However, the firm has a large number of advisors with securities registrations such as the Series 7, 63 and 66.
Keystone Financial Group Process
The firm uses a process called EGPRIM. It stands for: establish a time to review your financial situation, gather the needed personal, financial and insurance information, process, give your advisor time to process your financial details, recommend strategies and solutions, implement strategies per your request and monitor investments. 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.
D. Scott Neal
The first fee-only firm on our list, D. Scott Neal has more than $199 million in assets under management. The firm has five advisors and 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.
Ballast, founded in 2010, is a fee-based Lexington financial advisory firm. Four advisors work at the firm, managing upward of $191 million of client assets. You can become a client with any amount of money, 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, leaving a large firm as a vice president prior to founding his own firm. Boardman is a certified financial planner (CFP) and Series 7, 24, 63 and 65 registered.
Reynolds, COO, is also a CFP. He has an MBA from University of Kentucky and is Series 7, 24 and 66 registered. This well-educated firm has two additional CFPs and a professional with a J.D. 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.
Wallace Hart Capital Management
Formed in 2016, this fee-based firm is the newest on our list and has the fewest advisors, with just two. Wallace Hart Capital Management has $106 million in assets under management and offers investment management, retirement planning and limited financial planning. The firm does not list a minimum account size and 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 remain the owners. 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 one additional employee, Jessica Bedell, as a wealth management specialist.
Wallace Hart Capital Management Investment Philosophy
Advisors at the firm say it’s simple, “as the market trends upward, we invest to grow your account. When the market shifts… our process will switch to preserve your capital.” Wallace Hart acknowledges that the process seems simple, but explains that most investors don’t follow this simple, but effective strategy.
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.