Keb Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, business succession planning, education planning, estate planning, insurance, and tax planning. Financial planning was provided to 1–10 clients last fiscal year.
Keb Asset Management reports 696 clients. They include 344 high-net-worth individuals, 318 individual clients, and 21 pension and profit-sharing plans. Of its assets, 94.1% ($1.2B across 2,339 accounts) are managed with discretion; $74.6M across 42 accounts are not. It advised 27 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 46% | 7% |
| High-net-worth individuals | 49% | 90% |
| Pension and profit-sharing plans | 3% | <1% |
| Charitable organizations | <1% | <1% |
| Corporations and other businesses | 2% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 318 | $93.3M | 7.3% | $293K |
| High-net-worth individuals | 344 | $1.15B | 90.2% | $3.34M |
| Pension and profit-sharing plans | 21 | $7.05M | 0.6% | $336K |
| Charitable organizations | Fewer than 5 | $773K | 0.1% | $386K |
| Corporations and other businesses | 11 | $23.2M | 1.8% | $2.11M |
| Total | 696 | $1.27B | 100% | — |
- Clients
- 318
- Regulatory AUM
- $93.3M
- AUM share
- 7.3%
- Avg. per client
- $293K
- Clients
- 344
- Regulatory AUM
- $1.15B
- AUM share
- 90.2%
- Avg. per client
- $3.34M
- Clients
- 21
- Regulatory AUM
- $7.05M
- AUM share
- 0.6%
- Avg. per client
- $336K
- Clients
- Fewer than 5
- Regulatory AUM
- $773K
- AUM share
- 0.1%
- Avg. per client
- $386K
- Clients
- 11
- Regulatory AUM
- $23.2M
- AUM share
- 1.8%
- Avg. per client
- $2.11M
Total
- Clients
- 696
- Regulatory AUM
- $1.27B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 27
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Keb Asset Management charges 0.20%–0.90% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$2M | 0.90% |
| $2M–$5M | 0.50% |
| $5M–$10M | 0.40% |
| $10M–$20M | 0.30% |
| $20M and above | 0.20% |
Fee details and sources
Other fees
- Financial Planning Services
- Financial planning is charged hourly at $250 to $400 an hour, or a fixed fee estimated at the start; a 50% payment of the estimate may be due on signing.
- Retirement Plan Services
- Plan services are charged as a percentage of plan assets: 0.70% on the first $2,000,000, stepping down to 0.10% on amounts above $20,000,000.
The leadership team of Keb Asset Management includes Chief Compliance Officer Justin Mason. It has 17 employees, 13 of them in advisory roles.
Leadership
- Justin MasonManaging Member / Chief Compliance Officer
- Steven DumstorffMember
- Jonathan CarterMember
Investment adviser representatives
14 representatives listed in the SEC register as of 9 October 2026.
- Robert Shawn Barrale
- Riley Christopher Beal
- Christopher Joseph Brauner
- Jonathan Marc Carter
- Steven Matthew Dumstorff
- Ross Alan Hager
- Caden Wayne Heyen
- Justin Paul Mason
- Sean Benjamin McNutt
- Gina Maria Reeves
- Susan Lynn Shackelford
- Brook Alexandra Soebbing
- Nathan Robert Townsend
- Jared Michael Van Slyke
Staff
- 17 employees
- 13 in advisory functions
- 13 state-registered reps
- 1 soliciting firm
- Owns 5% to 10% of Keb Asset Management, LLC
Steven Dumstorff
Control person · since January 2013
- Owns 5% to 10% of Keb Asset Management, LLC
Jonathan Carter
Control person · since January 1999
- Owns 5% to 10% of Keb Asset Management, LLC
Justin Mason
Control person · since May 2021
Keb Asset Management’s regulatory assets grew 1.8× from $722M (March 2021) to $1.27B (January 2026); clients rose from 621 to 696 and employees from 15 to 17.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| January 2026 | $1.27B | 696 | 17 | 2 |
| January 2025 | $1.06B | 641 | 17 | 2 |
| March 2024 | $933M | 599 | 15 | 2 |
| February 2023 | $799M | 562 | 16 | 2 |
| March 2022 | $842M | 560 | 16 | 2 |
| March 2021 | $722M | 621 | 15 | 2 |
Besides its headquarters, Keb Asset Management has 1 office, with 2 listed addresses in Illinois and Missouri.
Illinois · 1 listed address
- 3200 Robbins Road, Suite 200a, SpringfieldHQ
Missouri · 1 listed address
- 1400 South Highway DR, Fenton
Other business names
Keb Asset Management has reported 1 other business name to the SEC.
- Keb Wealth Advisors
Contact and registration details
- Legal name
- Keb Asset Management, LLC
- Headquarters
- 3200 Robbins Road, Suite 200a, Springfield, IL 62704
- Website
- kebcpa.com
- Phone
- 217-789-0960
- @keb-asset-management-llc
- SEC file
- 801-62965
- Founded
- 1999
- Structure
- Illinois LLC
- Fiscal year end
- December
Keb Asset Management uses Charles Schwab ($876M, 70%) and Fidelity ($380M, 30%) as custodians for its separately managed accounts. Keb Asset Management has custody of $275M in client assets for 235 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $876M70%
- FidelityNational Financial Services LLC · Boston, MA · $380M30%
At year end, Keb Asset Management’s separately managed accounts were mostly in funds (77%) and cash (12%). Its reported 13F holdings for the quarter ended 30 June 2026 total $618M across 137 positions; the largest are Dimensional ETF Trust (17.2%), American Centy ETF TR (10.2%) and Dimensional ETF Trust (8.3%).
What the accounts hold
- Stocks4%
- Funds77%
- Registered funds76%
- Pooled vehicles1%
- Bonds8%
- U.S. government and agency bonds5%
- State and local bonds3%
- Cash12%
- Other1%
- Annuities with mutual fund investments1%
Reported 13F holdings
- $618M
- Reported 13F value
- 137
- Positions
- 73.7%
- In the 10 largest
- +18.4%
- Value vs. prior quarter
- Dimensional ETF Trust · US Cor Equ 2 ETF17.2%
- American Centy ETF TR · US Sml CP Valu10.2%
- Dimensional ETF Trust · Internatnal Val8.3%
- Dimensional ETF Trust · US Mktwide Value8.0%
- Dimensional ETF Trust · US Targeted Vlu7.8%
- EA Series Trust · Brid Omn Sma ETF7.6%
- Dimensional ETF Trust · Emerging Mkts CO4.3%
- Dimensional ETF Trust · US Equi Mark ETF4.2%
- American Centy ETF TR · Intl Smcp Vlu3.4%
- Dimensional ETF Trust · Intl Small Cap V2.8%
Together, the ten largest are 73.7% of reported value.
How many clients does Keb Asset Management have?
Keb Asset Management has 696 clients and manages $1.27 billion for them, as of January 2026. They include 344 high-net-worth individuals, 318 individual clients, and 21 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 29 January 2026
What services does Keb Asset Management offer?
Keb Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, business succession planning, education planning, estate planning, insurance, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Keb Asset Management charge?
Keb Asset Management charges 0.20%–0.90% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable.
Which custodians does Keb Asset Management use?
Keb Asset Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $876M and National Financial Services LLC (Boston, MA), with $380M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 29 January 2026
How many financial advisors does Keb Asset Management have?
Keb Asset Management has 13 investment adviser representatives registered with state securities authorities, out of 17 employees, and 13 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Keb Asset Management invest in?
At the end of its last fiscal year, Keb Asset Management’s separately managed accounts held 76% registered funds (mutual funds, ETFs, BDCs), 12% cash and equivalents, 5% U.S. government and agency bonds, 4% exchange-traded equities, 3% state and local bonds, 1% pooled vehicles (private funds and similar) and 1% other. The 1% other category is described as: Annuities With Mutual Fund Investments.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Keb Asset Management?
Keb Asset Management’s direct owners are Steven Dumstorff, Jonathan Carter and Justin Mason, each holding 10% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 29 January 2026
How does Keb Asset Management get paid?
Keb Asset Management is paid through a percentage of assets under management and hourly charges. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Keb Asset Management registered with the SEC?
Yes, Keb Asset Management has been registered with the SEC as an investment adviser since 7 April 2004. Its CRD number is 117935 and its SEC file number is 801-62965.
Source: Form ADV Part 1A, Item 1, filed 29 January 2026; IAPD firm record
How do I contact Keb Asset Management?
Keb Asset Management’s main office is at 3200 Robbins Road, Suite 200a, Springfield, IL 62704. Its phone number is 217-789-0960. Its website is kebcpa.com.