# Kelman Lazarov Inc

> Kelman Lazarov Inc is an SEC-registered investment advisory firm in Memphis, TN, registered since 1993, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 107727
- Filed as: KELMAN LAZAROV INC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Memphis, TN
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107727
- AdvisorCensus page: https://advisorcensus.com/firm/kelman-lazarov-inc-memphis-tn-107727

## Quick answers

**How is Kelman Lazarov Inc compensated?**
On its Form ADV (Item 5.E, October 2026), Kelman Lazarov Inc reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is Kelman Lazarov Inc located?**
Kelman Lazarov Inc's principal office is in Memphis, TN, according to its Form ADV.

**Is Kelman Lazarov Inc registered with the SEC or a state?**
Kelman Lazarov Inc is an SEC-registered investment advisory firm, registered since 1993. Status as filed: Approved. CRD 107727.

**How much does Kelman Lazarov Inc manage?**
Kelman Lazarov Inc reports $894,604,455 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Kelman Lazarov Inc's assets and staff changed since 2021?**
In the Form ADV data for Kelman Lazarov Inc: Regulatory assets under management: $533,361,371 in the October 2021 data and $894,604,455 in the October 2026 data, up 68%. Total employees: 14 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Kelman Lazarov Inc serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (323); individuals (other than high net worth individuals) (251); pension and profit sharing plans (but not the plan participants or government pension plans) (3).

**Which custodians does Kelman Lazarov Inc use?**
Kelman Lazarov Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Kelman Lazarov Inc report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107727

**Does Kelman Lazarov Inc state an account minimum?**
Its Form ADV Part 2A brochure dated March 31, 2026 says: "We do not impose a formal minimum account size or minimum fee to open or maintain an account."

**What changed in Kelman Lazarov Inc's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 12 to 13. Regulatory assets under management went from $705,429,123 to $894,604,455 (+27%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Account minimum: None

> We do not impose a formal minimum account size or minimum fee to open or maintain an account.

- Minimum annual fee: None

> We do not impose a formal minimum account size or minimum fee to open or maintain an account.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $894,604,455
- Discretionary: $894,604,455
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 251 | $71,454,263 |
| High net worth individuals | 323 | $817,537,592 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 3 | $4,341,873 |
| Charitable organizations | 2 | $1,270,727 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Educational seminars/workshops
- Other

### Firm details
- Registered since: 1993 (32 years)
- Employees: 17 total, 13 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, AR, CA, FL, GA, IL, LA, MA, MD, MI, MS, NC, NY, SC, TN, TX, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [kelman-lazarov.com](https://kelman-lazarov.com)
- LinkedIn @kelman-lazarov-inc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $533,361,371 | 14 | March 29, 2021 |
| October 2022 | $621,404,627 | 16 | April 14, 2022 |
| October 2023 | $540,767,234 | 15 | April 26, 2023 |
| October 2024 | $646,843,637 | 15 | March 28, 2024 |
| October 2025 | $705,429,123 | 15 | March 28, 2025 |
| October 2026 | $894,604,455 | 17 | March 31, 2026 |

Regulatory assets under management: $533,361,371 in the October 2021 data and $894,604,455 in the October 2026 data, up 68%.
Total employees: 14 in October 2021 and 17 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 12 to 13.
- Regulatory assets under management went from $705,429,123 to $894,604,455 (+27%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Kelman Lazarov Inc (CRD 107727): Form ADV filing data as of October 2026.