Kelman-Lazarov, Inc.

What Kelman-Lazarov, Inc. does

Kelman-Lazarov, Inc. is an independent, SEC-registered investment adviser and financial planning firm founded in 1979 and headquartered in Memphis, Tennessee. The firm provides personalized investment management and financial planning services to affluent individuals, families, business owners, and professionals, with relationships that commonly span multiple generations. As of 12/31/2024, the firm managed over $700 million in client assets with a team of approximately 16 professionals.

The firm's core service offering is discretionary and non-discretionary investment management combined with comprehensive financial planning, executed through a high-touch, relationship-based advisory model rather than a digital or self-directed platform. The team includes multiple partner-level practitioners holding CFP, CFA, and Certified Retirement Counselor designations, with Andrew Buzan, Keith Schmitt, Jacob Samuels, and Patrick O'Hearn having joined between 2007 and 2016 and been promoted to partner between 2019 and 2021.

Kelman-Lazarov generates revenue primarily through asset-based advisory fees charged on client AUM, in line with industry-standard RIA pricing. Operational infrastructure is delivered through third-party partnerships: custody and clearing functions are handled by Charles Schwab and Fidelity, and the firm uses Orion Advisor's client portal for account aggregation, reporting, and digital client access. The firm is privately held, with ownership concentrated among the founders and the partner group, and has no institutional private equity or venture backing.

Name

Kelman-Lazarov, Inc.

Legal name

Kelman-Lazarov, Inc.

Website

https://kelman-lazarov.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

11–50 employees

Short description

Kelman-Lazarov, Inc. is an independent, SEC-registered investment advisory firm founded in 1979 in Memphis, TN, providing personalized investment management and financial planning to affluent individuals, families, and business owners, with over $700M in client AUM as of 12/31/2024.

Ownership category

akta.pro rank

Product category

Wealth Management and Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Fee-Based Advisory (FSAEAAAM)

akta.pro secondary industries

Business Owner & Executive Financial Planning (FSAEAAAO), Estate Planning & Trust Structuring Advisory (FSAEAKAC), Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers) (FSAAACAE)

Keywords

• Financial planning services
• Investment advisory services
• Wealth management services
• Asset management services
• Retirement plan consulting

Headquarters

HQ city

Memphis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Investment Advisory Fees: Fee-based investment advisory services where advisor compensation is aligned with client portfolio performance — when portfolio value increases, advisor compensation increases, and when it decreases, compensation decreases accordingly. This fee-based fiduciary model serves affluent families, business owners, and professionals.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Kelman-Lazarov, Inc. delivers personalized financial planning and investment management services to affluent individuals, families, business owners, and professionals through a team-based fiduciary advisory model. The firm offers six interconnected service areas—Wealth Management, Asset Management, Risk Management & Insurance, Tax Planning, Estate Services, and Employer/Business Services—covering financial planning, portfolio design, risk mitigation, tax strategy, and multi-generational wealth transfer. Clearing, custody, and brokerage services are provided by Charles Schwab and Fidelity Brokerage Services, with client access through the Orion Advisor portal.

Product overview

Kelman-Lazarov, Inc. is a single, unified financial advisory practice offering personalized wealth management services. The firm operates as an integrated financial planning platform providing six interconnected service areas: Wealth Management (financial planning and retirement guidance), Asset Management (portfolio design and investment management), Risk Management & Insurance Services, Tax Planning, Estate Services (including multi-generational wealth transfer), and Employer/Business Services (retirement plan consulting). These services are delivered through a team-based approach where advisors collaborate across disciplines to provide comprehensive, customized financial counsel to individuals, families, and business owners.

Differentiator

Problem solved

Functional benefit

Products and services

• Wealth Management Comprehensive financial planning and wealth protection services including education planning, retirement planning, and income distribution planning to help clients protect, manage, and expand their wealth. Targeted at affluent individuals, families, and professionals.
• Asset Management Portfolio design, investment management, and performance monitoring services that design portfolios with appropriate asset classes, sectors, and securities to help clients achieve their specific goals. Targeted at affluent individuals, families, business owners, and professionals.
• Risk Management & Insurance Services Risk identification and management strategies including life insurance, disability insurance, and business insurance to help protect client assets. Targeted at affluent individuals, families, and business owners.
• Taxes Tax strategy and planning services including income tax planning, investment tax planning, and business tax planning aligned with clients' financial plans. Targeted at affluent individuals, families, and business owners.
• Estate Services Multi-generational wealth transfer planning, charitable and gift planning, and asset protection services to assist with transfers of wealth across generations. Targeted at affluent families and business owners.
• Employer or Business Services Business retirement plan design, implementation, and management consulting for employers and business owners, including 401k and 403b Plans and Profit Sharing Plans. Targeted at business owners and employers.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Three partnerships are on record, tiered core.

• Charles Schwab & Co., Inc.coreOthersProvides clearing, custody, and brokerage services to clients of Kelman-Lazarov, Inc. Member of FINRA/SIPC.
• Fidelity Brokerage Services, LLCcoreOthersProvides clearing, custody, and brokerage services to clients of Kelman-Lazarov, Inc. Member of NYSE/SIPC.
• Orion AdvisorcoreTechnology or IntegrationProvides the client portal platform used by Kelman-Lazarov for client login and account access (login.orionadvisor.com).

Scale indicators3 records

Recent moves5 records

Expansion highlights2 records

Direct peers

• Glassman Wealth Services: Mid-sized independent RIA offering wealth management, tax, and estate planning to affluent individuals and families on a fee-only fiduciary basis. Closely comparable in scale, service breadth, and target market.
• Plante Moran Financial Advisors: Fee-only RIA affiliated with Plante Moran offering financial planning, investment management, and retirement plan consulting to individuals and business owners. Similar service mix and target segments as Kelman-Lazarov.
• Ronald Blue Trust: Independent fee-only RIA serving HNW families with comprehensive financial planning, investment management, and estate services. Very similar service mix, fee-based fiduciary model, and target client profile to Kelman-Lazarov.
• Homrich Berg: Fee-only RIA providing comprehensive financial planning and investment management to HNW individuals and business owners. Similar integrated service offering and fiduciary model to Kelman-Lazarov.
• Halbert Hargrove: Long-tenured independent fee-only RIA (founded 1983) serving HNW individuals, families, and business owners with comprehensive planning. Closely comparable in size, longevity, service breadth, and fiduciary philosophy.

Broad incumbents

• Edelman Financial Engines: Large independent RIA offering fee-only wealth management and workplace retirement plan services. Comparable fee-based fiduciary model and integrated service breadth, but with substantially greater scale and national presence.
• Merrill Lynch Wealth Management: Large incumbent wirehouse offering wealth management, investment advisory, and retirement planning to affluent clients through a national advisor network. Overlaps with Kelman-Lazarov's HNW client segment but operates under a brokerage model rather than pure RIA.
• Creative Planning: One of the largest independent RIAs in the US with a national footprint offering comprehensive wealth, tax, estate, and retirement plan services. Directly comparable in service scope but dramatically larger scale than Kelman-Lazarov.
• Mariner Wealth Advisors: National independent RIA serving HNW clients with integrated wealth, tax, estate, and retirement plan consulting. Operates in the same fiduciary, fee-based model as Kelman-Lazarov but with broader geographic reach and a roll-up M&A strategy.

Others

• Charles Schwab Wealth Advisory: Schwab's own wealth advisory and managed-account programs compete for HNW advisory clients and currently serve as Kelman-Lazarov's custodian. Represents both an enabling partner and a potential competitive threat.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kelman-Lazarov, Inc.