# Keystone Financial Group, LLC

> Keystone Financial Group, LLC is an SEC-registered investment advisory firm in Lexington, KY, registered since 2014, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 29, 2026.

- CRD: 170201
- Filed as: KEYSTONE FINANCIAL GROUP, LLC
- Also doing business as: ATHLETIC ESSENTIALS, HARRIS FINANCIAL, J.R. YOUNG COMPANY, R. L. BROWN WEALTH MANAGEMENT, SEALS FINANCIAL PLANNING
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Lexington, KY
- Filing period: October 2026
- Form ADV filing dated: September 29, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/170201
- AdvisorCensus page: https://advisorcensus.com/firm/keystone-financial-group-llc-lexington-ky-170201

## Quick answers

**How is Keystone Financial Group, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Keystone Financial Group, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Keystone Financial Group, LLC located?**
Keystone Financial Group, LLC's principal office is in Lexington, KY, according to its Form ADV; the October 2026 filing also lists 6 other offices (Schedule D, Section 1.F).

**Is Keystone Financial Group, LLC registered with the SEC or a state?**
Keystone Financial Group, LLC is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 170201.

**How much does Keystone Financial Group, LLC manage?**
Keystone Financial Group, LLC reports $2,338,235,877 in regulatory assets under management in its Form ADV filing dated September 29, 2026 (99% discretionary).

**How have Keystone Financial Group, LLC's assets and staff changed since 2021?**
In the Form ADV data for Keystone Financial Group, LLC: Regulatory assets under management: $1,084,007,770 in the October 2021 data and $2,338,235,877 in the October 2026 data, up 116%. Total employees: 39 in October 2021 and 49 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Keystone Financial Group, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (6,138); high net worth individuals (464); charitable organizations (13).

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

**Does Keystone Financial Group, LLC 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/170201

**What changed in Keystone Financial Group, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 32 to 33. Regulatory assets under management went from $1,858,938,537 to $2,338,235,877 (+26%). Changed its office addresses in Lexington, KY. 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)

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- LPL Financial 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: $2,338,235,877
- Discretionary: $2,317,045,915
- Non-discretionary: $21,189,962

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 6,138 | $1,111,880,864 |
| High net worth individuals | 464 | $1,190,864,353 |
| Charitable organizations | 13 | $5,347,552 |
| Corporations or other businesses not listed above | 13 | $30,143,108 |

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

### Firm details
- Registered since: 2014 (12 years)
- Employees: 49 total, 33 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AL, CA, CO, FL, GA, IL, IN, KS, KY, MD, NC, NJ, OH, PA, SC, TN, TX, VA, VI, WA, WV
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Ashland, KY
- Leitchfield, KY
- Lexington, KY
- Louisville, KY
- Mt. Sterling, KY
- Somerset, KY

### Websites listed on Form ADV (Item 1.I)
- athessentials.com
- federalretirement.com
- goalbasedwealth.com
- jryoungco.com
- keystoneky.com
- rlbrownwealth.com
- sandhillam.com
- sealsfinancialplanning.com
- Facebook @KEYSTONE-FINANCIAL-GROUP-412478585480311

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,084,007,770 | 39 | August 25, 2021 |
| October 2022 | $1,238,389,104 | 39 | May 18, 2022 |
| October 2023 | $1,243,093,426 | 39 | August 18, 2023 |
| October 2024 | $1,509,725,992 | 45 | May 15, 2024 |
| October 2025 | $1,858,938,537 | 44 | April 14, 2025 |
| October 2026 | $2,338,235,877 | 49 | September 29, 2026 |

Regulatory assets under management: $1,084,007,770 in the October 2021 data and $2,338,235,877 in the October 2026 data, up 116%.
Total employees: 39 in October 2021 and 49 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 32 to 33.
- Regulatory assets under management went from $1,858,938,537 to $2,338,235,877 (+26%).
- Changed its office addresses in Lexington, KY.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Keystone Financial Group, LLC (CRD 170201): Form ADV filing data as of October 2026.