{
  "crd_number": 153418,
  "slug": "keystone-wealth-advisors-incorporated-eagan-mn-153418",
  "primary_business_name": "KEYSTONE WEALTH ADVISORS, INCORPORATED",
  "legal_name": "KEYSTONE WEALTH ADVISORS, INCORPORATED",
  "dbas": [],
  "city": "Eagan",
  "state": "MN",
  "country": "United States",
  "cbsa_code": "33460",
  "metro": {
    "cbsa_code": "33460",
    "common_name": "Minneapolis",
    "msa_name": "Minneapolis-St. Paul-Bloomington, MN-WI",
    "path": "/advisors/mn/minneapolis"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2010-04-30",
  "years_registered": 16,
  "period": "2026-10-01",
  "filing_date": "2026-06-11",
  "carried_forward": false,
  "raum_total": 201352666.0,
  "raum_discretionary": 0.0,
  "raum_non_discretionary": 201352666.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 3,
  "advisory_employees": 3,
  "client_count_bucket": null,
  "clients_by_type": {
    "individuals": {
      "raum": 41900833.0,
      "count": 41
    },
    "high_net_worth_individuals": {
      "raum": 159451833.0,
      "count": 25
    }
  },
  "compensation_types": [
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "pension_consulting",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "FL",
    "MN"
  ],
  "websites": [
    "https://facebook.com/SDC154",
    "https://keystonewa.com",
    "https://linkedin.com/IN/ANDY-OLSEN-A0770730",
    "https://linkedin.com/IN/STEVE-CARLSON-2A81A91"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/153418",
  "city_as_filed": "EAGAN",
  "url": "https://advisorcensus.com/firm/keystone-wealth-advisors-incorporated-eagan-mn-153418",
  "display_name": "Keystone Wealth Advisors, Incorporated",
  "summary": "Keystone Wealth Advisors, Incorporated is an SEC-registered investment advisory firm in Eagan, MN, registered since 2010, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated June 11, 2026.",
  "citation": "AdvisorCensus. Keystone Wealth Advisors, Incorporated (CRD 153418): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Pension consulting services",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Keystone Wealth Advisors, Incorporated compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Keystone Wealth Advisors, Incorporated reports these compensation arrangements: a percentage of assets under its management; hourly charges."
    },
    {
      "q": "Where is Keystone Wealth Advisors, Incorporated located?",
      "a": "Keystone Wealth Advisors, Incorporated's principal office is in Eagan, MN, according to its Form ADV; the July 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Keystone Wealth Advisors, Incorporated registered with the SEC or a state?",
      "a": "Keystone Wealth Advisors, Incorporated is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 153418."
    },
    {
      "q": "How much does Keystone Wealth Advisors, Incorporated manage?",
      "a": "Keystone Wealth Advisors, Incorporated reports $201,352,666 in regulatory assets under management in its Form ADV filing dated June 11, 2026 (0% discretionary)."
    },
    {
      "q": "How have Keystone Wealth Advisors, Incorporated's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Keystone Wealth Advisors, Incorporated: Regulatory assets under management: $100,061,000 in the October 2021 data and $201,352,666 in the October 2026 data, up 101%. Total employees: 2 in October 2021 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Keystone Wealth Advisors, Incorporated serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (41); high net worth individuals (25)."
    },
    {
      "q": "Which custodians does Keystone Wealth Advisors, Incorporated use?",
      "a": "Keystone Wealth Advisors, Incorporated's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Keystone Wealth Advisors, Incorporated report any disciplinary disclosures?",
      "a": "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/153418"
    },
    {
      "q": "Does Keystone Wealth Advisors, Incorporated state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated June 11, 2026 says: \"There is an account minimum, $1,000,000, which may be waived by the investment advisor, based on the needs of the client and the complexity of the situation.\""
    },
    {
      "q": "What changed in Keystone Wealth Advisors, Incorporated's recent Form ADV filings?",
      "a": "In the December 2025 filing data: Employees performing advisory functions went from 4 to 3."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 100061000.0,
      "total_employees": 2,
      "filing_date": "2021-06-15"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 124987029.0,
      "total_employees": 3,
      "filing_date": "2022-06-13"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 156885245.0,
      "total_employees": 3,
      "filing_date": "2023-07-06"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 147837321.0,
      "total_employees": 4,
      "filing_date": "2024-06-06"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 191425402.0,
      "total_employees": 4,
      "filing_date": "2025-07-01"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 201352666.0,
      "total_employees": 3,
      "filing_date": "2026-06-11"
    }
  ],
  "recent_changes": [
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Employees performing advisory functions went from 4 to 3."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated June 11, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "There is an account minimum, $1,000,000, which may be waived by the investment advisor, based on the needs of the client and the complexity of the situation."
        ]
      }
    ],
    "quotes": [
      "There is an account minimum, $1,000,000, which may be waived by the investment advisor, based on the needs of the client and the complexity of the situation."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/keystone-wealth-advisors-incorporated-eagan-mn-153418.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 41,
      "fewer_than_5": false,
      "raum": 41900833.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 25,
      "fewer_than_5": false,
      "raum": 159451833.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/153418",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}