Keystone Wealth Management provides financial planning, portfolio management for individuals and small businesses, and pension consulting. Financial planning was provided to 11–25 clients last fiscal year.
Keystone Wealth Management reports 212 clients. They include 164 individual clients, 43 high-net-worth individuals, and 5 pension and profit-sharing plans. Of its assets, 87.7% ($120M across 528 accounts) are managed with discretion; $17M across 5 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 77% | 34% |
| High-net-worth individuals | 20% | 54% |
| Pension and profit-sharing plans | 2% | 12% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 164 | $46.8M | 34.1% | $286K |
| High-net-worth individuals | 43 | $73.6M | 53.6% | $1.71M |
| Pension and profit-sharing plans | 5 | $17M | 12.3% | $3.39M |
| Total | 212 | $137M | 100% | $648K |
- Clients
- 164
- Regulatory AUM
- $46.8M
- AUM share
- 34.1%
- Avg. per client
- $286K
- Clients
- 43
- Regulatory AUM
- $73.6M
- AUM share
- 53.6%
- Avg. per client
- $1.71M
- Clients
- 5
- Regulatory AUM
- $17M
- AUM share
- 12.3%
- Avg. per client
- $3.39M
Total
- Clients
- 212
- Regulatory AUM
- $137M
- AUM share
- 100%
- Avg. per client
- $648K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Keystone Wealth Management charges 1.00% a year for its Portfolio Management Services. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- 401(k) Account Management
- A limited number of 401(k) accounts held away from the custodian are invoiced at 0.40% of the account value set when the account was established.
David Becker owns 75% or more of Keystone Wealth Management. The leadership team of Keystone Wealth Management includes President David Becker. It has 2 employees, 1 of them in advisory roles.
Leadership
David BeckerPresident- David BeckerChief Compliance Officer
Investment adviser representatives
1 representatives listed in the SEC register as of 9 October 2026.
Staff
- 2 employees
- 1 in advisory functions
- 1 state-registered rep
- 1 insurance agent
- Owns 75% or more of Keystone Wealth Management Inc.
David Becker
Control person · since October 2007
Besides its headquarters, Keystone Wealth Management has 1 office (1 private residence, listed without an address), with 1 listed address in Iowa.
Iowa · 1 listed address
- 999 Home Plaza, Suite 100g, WaterlooHQ
Contact and registration details
- Legal name
- Keystone Wealth Management Inc.
- Headquarters
- 999 Home Plaza, Suite 100g, Waterloo, IA 50701
- Website
- keystonewealth.com
- Phone
- 319-883-3096
- SEC file
- 801-134233
- Structure
- Iowa other (specify)
- Fiscal year end
- December
Keystone Wealth Management uses Charles Schwab ($113M, 87%) and John Hancock Life Insurance Company (U.S.A) ($17M, 13%) as custodians for its separately managed accounts. Keystone Wealth Management has custody of $7.23M in client assets for 9 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $113M87%
- John Hancock Life Insurance Company (U.S.A)John Hancock Life Insurance Company (U.S.A) · Boston, MA · $17M13%
At year end, Keystone Wealth Management’s separately managed accounts were mostly in funds (96%).
What the accounts hold
- Funds96%
- Bonds3%
- U.S. government and agency bonds1%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash1%
How many clients does Keystone Wealth Management have?
Keystone Wealth Management has 212 clients and manages $137 million for them, as of June 2026. They include 164 individual clients, 43 high-net-worth individuals, and 5 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 5 June 2026
What services does Keystone Wealth Management offer?
Keystone Wealth Management provides financial planning, portfolio management for individuals and small businesses, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Keystone Wealth Management charge?
Keystone Wealth Management charges 1.00% a year for its Portfolio Management Services. The fee is billed in advance and is negotiable.
Which custodians does Keystone Wealth Management use?
Keystone Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $113M and John Hancock Life Insurance Company (U.S.A) (Boston, MA), with $17M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 5 June 2026
How many financial advisors does Keystone Wealth Management have?
Keystone Wealth Management has 1 investment adviser representative registered with state securities authorities, out of 2 employees, and 1 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Keystone Wealth Management invest in?
At the end of its last fiscal year, Keystone Wealth Management’s separately managed accounts held 96% registered funds (mutual funds, ETFs, BDCs), 1% U.S. government and agency bonds, 1% state and local bonds, 1% investment grade corporate bonds and 1% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Keystone Wealth Management?
Keystone Wealth Management’s direct owner is David Becker (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 5 June 2026
How does Keystone Wealth Management get paid?
Keystone Wealth Management 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 Wealth Management registered with the SEC?
Yes, Keystone Wealth Management has been registered with the SEC as an investment adviser since 30 September 2025. Its CRD number is 304133 and its SEC file number is 801-134233.
Source: Form ADV Part 1A, Item 1, filed 5 June 2026; IAPD firm record
How do I contact Keystone Wealth Management?
Keystone Wealth Management’s main office is at 999 Home Plaza, Suite 100g, Waterloo, IA 50701. Its phone number is 319-883-3096. Its website is keystonewealth.com.