Top Financial Advisors in Lexington, KY

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Keystone Financial Group manages, which manages over $1 billion in client assets, is the No. 1 firm on our list of the top financial advisors in Lexington. The firm has several other offices throughout Kentucky, in Louisville, Somerset, Ashland, Leitchfield and Mt. Sterling. The Lexington office has multiple financial advisors, accredited asset management specialists (AAMSs) and certified financial planners (CFPs).  

Minimum investment requirements range from as little as $5,000 for the firm's Guided Wealth Portfolios robo-advisor service to as much as $250,000 for its Personal Wealth Portfolios Program. Keystone is a fee-based practice that primarily serves individuals who are not high-net-worth individuals. It also has 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.

Keystone Financial Group Investment Strategy

The practice uses charting, fundamental and technical methods of analysis. The firm states in its Form ADV Part 2A (firm brochure) 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. 

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Ballast, founded in 2010, is a fee-based financial advisory firm that's ranked second overall in Lexington. 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, pension and retirement consulting 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 other advisors on staff who hold the CFP, certified private wealth advisor (CPWA) and certified exit planning advisor (CEPA) designations. 

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. 

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Third on our list is fee-only D. Scott Neal, which has several hundred million 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 doesn't have any minimum asset requirements. 

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

D. Scott Neal Background

David “Scott” Neal and Jerry 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, meanwhile, serves as vice president and also holds the CPA, CFP and personal finance specialist (PFS) designations. Richard Coles, a senior advisor at the firm, also owns a minority stake. Like Neal and Zimmer, Coles holds the CFP designation and is also 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 five basic strategies for client accounts: traditional, momentum growth, wealth preservation, targeted tolerance and fixed income. You’ll be matched with a strategy based on a variety of factors, including your risk tolerance, time horizon, income and financial objectives. 

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Moneywatch Advisors is a fee-only firm with over $200 million 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 size is roughly $570,000 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. In June 2022, the governor of Kentucky appointed Ramsey Bova to the board of trustees of the Kentucky Retirement System, which oversees the Kentucky Employees Retirement System and State Police Retirement System. 

The firm offers investment management as well as financial planning services, which may touch on 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.

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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. Investments & Financila Planning also offers wrap fee programs, which advisory fees and brokerage changes into a consolidated fee.  

Founded in 2012, the is under the ownership of 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 allocations based on client objectives, risk tolerance, time horizon, liquidity needs and other factors. 

As for securities, the firm primarily advises clients on no-load mutual funds and exchange-traded funds (ETFs). 

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

As a fee-based firm, certain advisors on staff 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. When putting together a client's portfolio, the firm may invest in mutual funds, exchange-traded funds (ETFs), individual stocks and bonds, as well as options, leveraged and inverse ETFs, as well as private investments. 

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. 

Invest Inc. checks in at No. 6 on our list of the top advisory firms in Lexington. This fee-only firm currently works solely with individual clients below the high-net-worth threshold. However, Invest Inc. is open to serving corporations and businesses, as well. 

The firm, which does not have a website, does not impose a minimum account size requirement. 

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, Thompson had a vision for the company that focused on providing investment clients with access to tailored investment advice. He set out to deliver a personal touch to client service that they could not get in large brokerage houses. Thompson is also president of Thompson Financial Group, Inc, an accounting firm.

Invest Inc. Investment Strategy

Invest Inc.'s primary investment strategy is strategic asset allocation using mutual funds. According to Invest Inc. it means that they rely on actively managed funds that offer greater opportunities for achieving an investment rate of return while also diversifying 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. 

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Formed in 2016, the fee-only firm Wallace Hart Capital Management offers investment management and financial planning services, and also manages two private investment funds. The firm has no set minimum account size. With a relatively small team of advisors, Wallace Hart Capital Management is open to working with 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 Capital Management Investment Strategy

Wallace Hart focuses on total return across different market conditions. The firm has three distinct investment approaches: wealth creation, wealth preservation and income generation. While the wealth creation strategy relies on U.S. stocks and exchange-traded funds, the wealth preservation strategy relies on technical market signals and sometimes can involve moving to cash. 

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

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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 each own one-third of the firm.

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

iTrust Asset Management Investment Strategy

The firm's investing methods rely on fundamental analysis and technical analysis. As far as strategies go, the firm uses long-term purchases -- assets that are bought and held for at least a year. The firm may also engage in trading, which involves buying and selling securities within 30 days. In addition, iTrust uses short sales, option writing and margin transactions. 

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Paragon Private Wealth Management rounds out our list of the top 10 advisory firms in Lexington. This fee-based firm serves individuals and high-net-worth individuals but is also open to working with charitable organizations, government entities, corporations and other businesses. In terms of high-net-worth individuals, the firm also markets its services to professional athletes.

The firm doesn't have a minimum requirement to open an account, although it reserves the right to terminate accounts. 

Paragon Private Wealth Management Background

Founded in 2021, Paragon Private Wealth Management is the youngest firm on our Lexington list. The firm is owned by Justin Sherman and Catherine Salsman, who is a certified financial planner (CFP). Other advisors on staff also hold the CFP, chartered financial analyst (CFA) and accredited portfolio management advisor (APMA) designations.

Directly or through an affiliate, the firm offers 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 Investment 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."