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Independent RIAs in Kentucky

As of October 2, 2026, 148 independent wealth management RIAs based in Kentucky reported $45.4 billion in regulatory assets under management; the largest by assets was Meridian Wealth Management, LLC, with $5.0 billion.

Include wirehouses and broker-dealer firms

Independent wealth management RIAs
148
SEC-registered
66
State-registered
82
Regulatory assets under management
$45.4 billion
Client accounts
115,912
Median firm size
$84.1 million
Broker-dealer affiliated firms, not included
4, with $2.5 billion

Kentucky requires IAR continuing education, in effect since 2023. Status from NASAA's IAR CE map, checked October 5, 2026. IAR CE in Kentucky.

Top firms in Kentucky

Largest independent RIAs by assets under management

Rank Firm City RAUM
1 Meridian Wealth Management, LLC Lexington $5.0 billion
2 MCF Advisors, LLC Lexington $4.7 billion
3 Keystone Financial Group, LLC Lexington $2.3 billion
4 E. S. Barr & Company Lexington $2.2 billion
5 Journey Advisory Group, LLC Covington $1.7 billion
6 The Gleason Group, Inc. Prospect $1.6 billion
7 Legacy Financial Advisors, Inc. Covington $1.5 billion
8 Strategic Wealth Investment Group, LLC Louisville $1.4 billion
9 Barlow Wealth Partners, LLC Louisville $1.4 billion
10 KPP Advisory Services LLC Louisville $1.2 billion

Top 100 in Kentucky

Fastest-growing independent RIAs over one year

Rank Firm City Growth Starting value
1 Churchill Financial Advisors, LLC Louisville 114.5% $243.8 million
2 Spectrum Financial Alliance, Ltd., L.L.C. Nicholasville 100.2% $406.1 million
3 Castellan Louisville 77.8% $496.1 million
4 LFG Wealth Partners, LLC Elizabethtown 70.2% $112.0 million
5 The Gleason Group, Inc. Prospect 65.2% $973.9 million
6 Demeter Tactical Investments Corp. Prospect 43.4% $185.0 million
7 KPP Advisory Services LLC Louisville 42.0% $874.3 million
8 MCF Advisors, LLC Lexington 40.7% $3.3 billion
9 FWG Investments, LLC Lexington 39.6% $250.1 million
10 Owen Larue Financial Group Elizabethtown 33.7% $343.1 million

Top 100 in Kentucky

Fastest-growing independent RIAs over three years

Rank Firm City Growth Starting value
1 Spectrum Financial Alliance, Ltd., L.L.C. Nicholasville 52.8% $227.9 million
2 Castellan Louisville 38.7% $330.9 million
3 Wrenne Financial Planning LLC Lexington 38.2% $113.0 million
4 The Gleason Group, Inc. Prospect 37.7% $615.8 million
5 Paragon Private Wealth Management LLC Lexington 35.3% $184.8 million
6 Meridian Wealth Management, LLC Lexington 34.1% $2.1 billion
7 Retirement Planning Solutions, LLC Louisville 33.8% $194.8 million
8 Family Wealth Planning Partners Louisville 30.6% $142.3 million
9 Strategic Wealth Investment Group, LLC Louisville 30.2% $627.8 million
10 Asio Capital LLC Lexington 27.0% $393.3 million

Top 100 in Kentucky

Fastest-growing independent RIAs over five years

Rank Firm City Growth Starting value
1 Castellan Louisville 42.5% $150.2 million
2 Retirement Planning Solutions, LLC Louisville 31.4% $119.2 million
3 Strategic Wealth Investment Group, LLC Louisville 29.6% $378.0 million
4 Meridian Wealth Management, LLC Lexington 27.7% $1.5 billion
5 The Gleason Group, Inc. Prospect 26.9% $489.3 million
6 Spectrum Financial Alliance, Ltd., L.L.C. Nicholasville 25.6% $260.5 million
7 Tony Walker Financial Bowling Green 24.0% $127.4 million
8 KPP Advisory Services LLC Louisville 23.4% $433.8 million
9 Paragon Private Wealth Management LLC Lexington 23.4% $160.2 million
10 Asio Capital LLC Lexington 22.6% $290.3 million

Top 100 in Kentucky

Independent RIAs with the biggest asset gains over one year

Rank Firm City Increase
1 MCF Advisors, LLC Lexington $1.4 billion
2 Meridian Wealth Management, LLC Lexington $1.1 billion
3 The Gleason Group, Inc. Prospect $635.1 million
4 Keystone Financial Group, LLC Lexington $479.3 million
5 Spectrum Financial Alliance, Ltd., L.L.C. Nicholasville $406.9 million
6 Castellan Louisville $386.1 million
7 KPP Advisory Services LLC Louisville $366.8 million
8 Churchill Financial Advisors, LLC Louisville $279.1 million
9 Strategic Wealth Investment Group, LLC Louisville $273.3 million
10 Legacy Financial Advisors, Inc. Covington $259.9 million

Top 100 in Kentucky

Independent RIAs with the most clients

Rank Firm City Most clients
1 Keystone Financial Group, LLC Lexington 6,628
2 Meridian Wealth Management, LLC Lexington 5,584
3 KPP Advisory Services LLC Louisville 3,995
4 Strategic Wealth Investment Group, LLC Louisville 3,903
5 MCF Advisors, LLC Lexington 3,541
6 Magnate Advisory Services, LLC Louisville 3,152
7 Tony Walker Financial Bowling Green 2,078
8 FWG Investments, LLC Lexington 2,057
9 Reliant Wealth Planning, LLC Louisville 1,701
10 Family Wealth Planning Partners Louisville 1,466

Top 100 in Kentucky

Independent RIAs with the fastest client growth over one year

Rank Firm City Growth Starting value
1 Family Wealth Planning Partners Louisville 84.4% 795
2 Owen Larue Financial Group Elizabethtown 42.3% 605
3 Meridian Wealth Management, LLC Lexington 39.2% 4,012
4 Guidance Capital, Inc. Louisville 32.7% 572
5 FWG Investments, LLC Lexington 29.5% 1,589
6 LFG Wealth Partners, LLC Elizabethtown 26.8% 284
7 MCF Advisors, LLC Lexington 25.1% 2,830
8 Spectrum Financial Alliance, Ltd., L.L.C. Nicholasville 22.5% 550
9 Magnate Advisory Services, LLC Louisville 21.4% 2,596
10 KPP Advisory Services LLC Louisville 17.3% 3,405

Top 100 in Kentucky

Independent RIAs with the most accounts

Rank Firm City Most accounts
1 Meridian Wealth Management, LLC Lexington 12,298
2 Strategic Wealth Investment Group, LLC Louisville 8,606
3 MCF Advisors, LLC Lexington 7,540
4 Keystone Financial Group, LLC Lexington 6,628
5 KPP Advisory Services LLC Louisville 3,995
6 Legacy Financial Advisors, Inc. Covington 3,721
7 FWG Investments, LLC Lexington 3,534
8 Retirement Planning Solutions, LLC Louisville 2,812
9 Tony Walker Financial Bowling Green 2,754
10 Legacy Financial Independent Advisors LLC Louisville 2,614

Top 100 in Kentucky

Independent RIAs with the most advisory staff

Rank Firm City Most advisory staff
1 Meridian Wealth Management, LLC Lexington 59
2 Strategic Wealth Investment Group, LLC Louisville 41
3 Keystone Financial Group, LLC Lexington 33
4 MCF Advisors, LLC Lexington 30
5 KPP Advisory Services LLC Louisville 26
6 Journey Advisory Group, LLC Covington 15
7 Legacy Financial Advisors, Inc. Covington 12
8 FWG Investments, LLC Lexington 10
9 Saling Wealth Advisors Louisville 9
10 Ballast, Inc. Lexington 8

Top 100 in Kentucky

Independent RIAs with the most high net worth clients

Rank Firm City Most high net worth clients
1 Meridian Wealth Management, LLC Lexington 1,022
2 MCF Advisors, LLC Lexington 648
3 Reliant Wealth Planning, LLC Louisville 642
4 Legacy Financial Advisors, Inc. Covington 482
5 Keystone Financial Group, LLC Lexington 464
6 Journey Advisory Group, LLC Covington 337
7 KPP Advisory Services LLC Louisville 318
8 Barlow Wealth Partners, LLC Louisville 312
9 Spectrum Financial Alliance, Ltd., L.L.C. Nicholasville 287
10 Strategic Wealth Investment Group, LLC Louisville 286

Top 100 in Kentucky

Independent RIAs with the most CFP professionals

Rank Firm City Most CFP professionals
1 MCF Advisors, LLC Lexington 21
2 Meridian Wealth Management, LLC Lexington 10
3 Keystone Financial Group, LLC Lexington 9
3 KPP Advisory Services LLC Louisville 9
5 Wrenne Financial Planning LLC Lexington 7
6 Ballast, Inc. Lexington 6
6 Saling Wealth Advisors Louisville 6
6 Reliant Wealth Planning, LLC Louisville 6
9 Altus Wealth Management, LLC Fort Mitchell 5
9 Legacy Financial Advisors, Inc. Covington 5

Top 100 in Kentucky

Newest independent RIAs

Rank Firm City Amount
1 Access Wealth Management, LLC Louisville $357.7 million
2 Principled Wealth Advisors, LLC Covington $252.1 million
3 Abri LLC Lexington $114.4 million
4 Graeter Wealth Advisors, LLC Louisville $104.9 million
5 Riverstone Asset Management, LLC Louisville $103.0 million
6 Wrightpoint Wealth Louisville $2.3 million
7 Bloom Financial LLC Lagrange $0
7 Tenet Portfolio Management Nicholasville $0
7 Saecula Wealth LLC Georgetown $0
7 Mark Investment Advisors Louisville $0

Top 100 in Kentucky

Over time

From the SEC's yearly files: SEC-registered independent RIAs based in Kentucky, from October 2018, each snapshot classed from its own Form ADV answers.

FirmsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
02040608020182020202120232024202666October 1, 2018: 38October 1, 2019: 38October 1, 2020: 44October 4, 2021: 50October 3, 2022: 56October 5, 2023: 63October 1, 2024: 63September 2, 2025: 60October 2, 2026: 66
Data table
As ofFirms
October 1, 201838
October 1, 201938
October 1, 202044
October 4, 202150
October 3, 202256
October 5, 202363
October 1, 202463
September 2, 202560
October 2, 202666
Regulatory assets under managementSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$20B$40B$60B201820202021202320242026$43.4BOctober 1, 2018: $12.6 billionOctober 1, 2019: $12.9 billionOctober 1, 2020: $16.9 billionOctober 4, 2021: $21.2 billionOctober 3, 2022: $26.7 billionOctober 5, 2023: $27.2 billionOctober 1, 2024: $26.6 billionSeptember 2, 2025: $30.0 billionOctober 2, 2026: $43.4 billion
Data table
As ofRegulatory assets under management
October 1, 2018$12.6 billion
October 1, 2019$12.9 billion
October 1, 2020$16.9 billion
October 4, 2021$21.2 billion
October 3, 2022$26.7 billion
October 5, 2023$27.2 billion
October 1, 2024$26.6 billion
September 2, 2025$30.0 billion
October 2, 2026$43.4 billion
Client accountsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
050K100K150K201820202021202320242026107KOctober 1, 2018: 39,729October 1, 2019: 46,231October 1, 2020: 53,438October 4, 2021: 61,809October 3, 2022: 70,136October 5, 2023: 84,093October 1, 2024: 101,122September 2, 2025: 79,968October 2, 2026: 106,734
Data table
As ofClient accounts
October 1, 201839,729
October 1, 201946,231
October 1, 202053,438
October 4, 202161,809
October 3, 202270,136
October 5, 202384,093
October 1, 2024101,122
September 2, 202579,968
October 2, 2026106,734
Median firm size (RAUM)SEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$100M$200M$300M$400M201820202021202320242026$345MOctober 1, 2018: $220.0 millionOctober 1, 2019: $216.1 millionOctober 1, 2020: $201.3 millionOctober 4, 2021: $247.4 millionOctober 3, 2022: $264.9 millionOctober 5, 2023: $242.1 millionOctober 1, 2024: $280.5 millionSeptember 2, 2025: $313.8 millionOctober 2, 2026: $345.4 million
Data table
As ofMedian firm size (RAUM)
October 1, 2018$220.0 million
October 1, 2019$216.1 million
October 1, 2020$201.3 million
October 4, 2021$247.4 million
October 3, 2022$264.9 million
October 5, 2023$242.1 million
October 1, 2024$280.5 million
September 2, 2025$313.8 million
October 2, 2026$345.4 million

The market in Kentucky now

Headline figures

MeasureIndependent RIAsSEC-registeredState-registered
Firms1486682
Regulatory assets under management$45.4 billion$43.4 billion$2.0 billion
Accounts115,912106,7349,178
Clients61,68156,4725,209
Employees940801139
Advisory employees578472106
Investment adviser representatives601490111
Median RAUM$84.1 million$345.4 million$20.8 million
Average RAUM$336.5 million$658.0 million$29.1 million

Firms by size

Advisers grouped by regulatory assets under management.

MeasureIndependent RIAsSEC-registeredState-registered
Firms under $100 million71269
RAUM of firms under $100 million$2.1 billion$103.6 million$2.0 billion
Firms $100 million to $250 million17170
RAUM of firms $100 million to $250 million$2.8 billion$2.8 billion$0
Firms $250 million to $500 million26260
RAUM of firms $250 million to $500 million$9.2 billion$9.2 billion$0
Firms $500 million to $1 billion990
RAUM of firms $500 million to $1 billion$6.2 billion$6.2 billion$0
Firms $1 billion to $5 billion12120
RAUM of firms $1 billion to $5 billion$25.2 billion$25.2 billion$0
Firms $5 billion to $10 billion000
RAUM of firms $5 billion to $10 billion$0$0$0
Firms $10 billion and up000
RAUM of firms $10 billion and up$0$0$0

Concentration

How much of the market the largest advisers hold.

Concentration: independent RIAsAs of October 2, 2026.
Top 10 share of RAUM 50.6%
Top 100 share of RAUM 99.3%
MeasureIndependent RIAsSEC-registeredState-registered
Top 10 share of RAUM50.6%52.9%37.1%
Top 100 share of RAUM99.3%No dataNo data

How advisers are paid

Share of advisers reporting each form of compensation on Form ADV Item 5.E. A firm can report several.

How advisers are paid: independent RIAsAs of October 2, 2026.
Charge a percentage of assets 94.6%
Charge hourly fees 45.9%
Charge subscription fees 0.7%
Charge fixed fees 69.6%
Receive commissions 0.0%
Charge performance-based fees 6.8%
Other compensation 6.1%
MeasureIndependent RIAsSEC-registeredState-registered
Charge a percentage of assets94.6%98.5%91.5%
Charge hourly fees45.9%48.5%43.9%
Charge subscription fees0.7%0.0%1.2%
Charge fixed fees69.6%74.2%65.9%
Receive commissions0.0%0.0%0.0%
Charge performance-based fees6.8%12.1%2.4%
Other compensation6.1%6.1%6.1%

Custody

Advisers reporting custody of client cash or securities on Form ADV Item 9.

MeasureIndependent RIAsSEC-registeredState-registered
Have custody33.8%53.0%18.3%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

MeasureIndependent RIAsSEC-registeredState-registered
Broker-dealer affiliated2.0%4.5%0.0%

New firms and successions

New registrations and firms reporting that they succeeded to another adviser's business (Form ADV Item 4).

MeasureIndependent RIAsSEC-registeredState-registered
New registrations1156
SuccessionsNo data0No data

Other measures

MeasureIndependent RIAsSEC-registeredState-registered
Firms reporting RAUM1356669
Discretionary RAUM$42.5 billion$40.7 billion$1.7 billion
CFP professionals19015436
25th percentile RAUM$20.3 million$216.6 million$8.0 million
75th percentile RAUM$335.7 million$614.5 million$49.3 million
90th percentile RAUM$809.8 million$1.4 billion$62.1 million
Average account size$391,969$406,870$218,671
Offer financial planning77.7%83.3%73.2%
RAUM growth, one yearNo data44.5%No data

As of October 2, 2026. Definitions of every measure are on the methodology page.

Cities

Cities with at least five independent RIAs.

Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.