Keystone Financial Services provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, educational seminars, business succession planning, divorce planning, education planning, estate planning, insurance, philanthropic planning, and tax planning.
Keystone Financial Services reports 298 clients. They include 162 individual clients and 136 high-net-worth individuals. Of its assets, 100.0% ($379M across 1,025 accounts) are managed with discretion. It advised 115 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 54% | 18% |
| High-net-worth individuals | 46% | 82% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 162 | $69.7M | 18.4% | $430K |
| High-net-worth individuals | 136 | $310M | 81.6% | $2.28M |
| Total | 298 | $379M | 100% | $1.27M |
- Clients
- 162
- Regulatory AUM
- $69.7M
- AUM share
- 18.4%
- Avg. per client
- $430K
- Clients
- 136
- Regulatory AUM
- $310M
- AUM share
- 81.6%
- Avg. per client
- $2.28M
Total
- Clients
- 298
- Regulatory AUM
- $379M
- AUM share
- 100%
- Avg. per client
- $1.27M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 115
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Keystone Financial Services charges up to 1.50% a year for its Investment Management. The fee is billed in arrears, is negotiable and has a $7,500 annual minimum. The brochure also prices 3 other services, listed under fee details.
Fee details and sources
Other fees
- Educational Workshops
- Workshop participants may be charged a per-session fee of $0 to $5,000, often paid by the event sponsor.
- Financial Consulting
- Limited-scope consulting on specific topics, billed monthly in arrears; the brochure states no fee amount.
- Financial Planning
- One-time customized financial plans are generally a fixed fee of $1,500 to $15,000, depending on breadth and complexity; planning is typically included in investment management fees.
Joshua Nelson owns 75% or more of Keystone Financial Services. It has 4 employees.
Leadership
- Joshua NelsonOwner, CEO, CCO, Iar
Investment adviser representatives
4 representatives listed in the SEC register as of 9 October 2026.
- Jeremy K Busch
- Joshua Paul Nelson
- Michael David Stevenson
- Jennifer K Walenter
Staff
- 4 employees
- 4 in advisory functions
- 4 state-registered reps
- Owns 75% or more of Keystone Financial Services
Joshua Nelson
Control person · since September 2020
Keystone Financial Services’ regulatory assets grew 1.9× from $198M (June 2021) to $379M (May 2026); clients rose from 208 to 298 and employees from 3 to 4.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| May 2026 | $379M | 298 | 4 | 2 |
| April 2025 | $306M | 510 | 2 | 2 |
| March 2024 | $249M | 476 | 2 | 2 |
| February 2023 | $208M | 244 | 3 | 2 |
| May 2022 | $219M | 236 | 4 | 1 |
| June 2021 | $198M | 208 | 3 | 1 |
Besides its headquarters, Keystone Financial Services has 1 office, with 2 listed addresses in Arizona and Colorado.
Arizona · 1 listed address
- 3100 West Ray Road, Chandler
Colorado · 1 listed address
- 4090 Clydesdale Pkwy, Suite 201, LovelandHQ
Contact and registration details
- Legal name
- Keystone Financial Services
- Headquarters
- 4090 Clydesdale Pkwy, Suite 201, Loveland, CO 80538
- Website
- keystonefinancial.com
- Phone
- 970-744-5408
- SEC file
- 801-119534
- Founded
- 2010
- Structure
- Colorado LLC
- Fiscal year end
- December
Keystone Financial Services uses Fidelity ($281M, 75%) and Charles Schwab ($95.7M, 25%) as custodians for its separately managed accounts. Keystone Financial Services has custody of $60.3M in client assets for 134 clients.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $281M75%
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $95.7M25%
At year end, Keystone Financial Services’ separately managed accounts were mostly in funds (78%) and stocks (19%). Its reported 13F holdings for the quarter ended 30 June 2026 total $388M across 131 positions; the largest are iShares TR (17.7%), iShares TR (7.6%) and iShares TR (6.9%).
What the accounts hold
- Stocks19%
- Funds78%
- Registered funds77%
- Pooled vehicles1%
- Cash3%
Reported 13F holdings
- $388M
- Reported 13F value
- 131
- Positions
- 61.2%
- In the 10 largest
- +14.0%
- Value vs. prior quarter
- iShares TR · Core S&P500 ETF17.7%
- iShares TR · Core Univrsl Usd7.6%
- iShares TR · S&P 500 Grwt ETF6.9%
- Blackrock ETF Trust · iShares US Equit6.7%
- iShares TR · S&P 500 Val ETF5.9%
- iShares Inc. · Core MSCI Emkt4.0%
- iShares TR · Eafe Grwth ETF3.5%
- Blackrock ETF Trust · Isha I IN TE ETF3.4%
- iShares TR · MSCI USA Mmentm2.8%
- Blackrock ETF Trust · Isha LA Core ETF2.6%
Together, the ten largest are 61.2% of reported value.
How many clients does Keystone Financial Services have?
Keystone Financial Services has 298 clients and manages $379 million for them, as of May 2026. They include 162 individual clients and 136 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 May 2026
What services does Keystone Financial Services offer?
Keystone Financial Services provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, educational seminars, business succession planning, divorce planning, education planning, estate planning, insurance, philanthropic planning, 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 Keystone Financial Services charge?
Keystone Financial Services charges up to 1.50% a year for its Investment Management. The fee is billed in arrears, is negotiable and has a $7,500 annual minimum.
Which custodians does Keystone Financial Services use?
Keystone Financial Services’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $281M and Charles Schwab & Co., Inc. (Westlake, TX), with $95.7M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 May 2026
How many financial advisors does Keystone Financial Services have?
Keystone Financial Services has 4 investment adviser representatives registered with state securities authorities, out of 4 employees, and 4 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 Keystone Financial Services invest in?
At the end of its last fiscal year, Keystone Financial Services’ separately managed accounts held 77% registered funds (mutual funds, ETFs, BDCs), 19% exchange-traded equities, 3% cash and equivalents and 1% pooled vehicles (private funds and similar).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Keystone Financial Services?
Keystone Financial Services’ direct owner is Joshua Nelson (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 27 May 2026
How does Keystone Financial Services get paid?
Keystone Financial Services is paid through a percentage of assets under management and fixed fees. 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 Keystone Financial Services registered with the SEC?
Yes, Keystone Financial Services has been registered with the SEC as an investment adviser since 25 September 2020. Its CRD number is 310623 and its SEC file number is 801-119534.
Source: Form ADV Part 1A, Item 1, filed 27 May 2026; IAPD firm record
How do I contact Keystone Financial Services?
Keystone Financial Services’ main office is at 4090 Clydesdale Pkwy, Suite 201, Loveland, CO 80538. Its phone number is 970-744-5408. Its website is keystonefinancial.com.