DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
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SEC-registered adviser
K••••• L•••••• I••
Latest filing Mar 31, 2026
First filing on the tape Mar 30, 2012 · 42 filings
SEC status approved since Dec 7, 1993
RAUM
$895M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
99%
$889M individuals and HNW
Advisors
12
registered through the firm on IAPD
RAUM per advisor
$74.6M
derived; firm RAUM over IAPD count
Employees
17
13 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
42 filings and snapshots on the tape
RAUM$895M as of Mar 31, 2026
Mar 30, 2012$196M then
HNW client RAUM$818M as of Mar 31, 2026
Mar 21, 2018$247M then
State-registered IARs (5.B.3)13 as of Mar 31, 2026
Mar 30, 20120 then
Employees (5.A)17 as of Mar 31, 2026
Feb 25, 201315 then
Private funds: no history
RAUM +27% over the last fiscal year+18% a year over threeIARs 12 to 13
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
Archetypes, each a printed rule
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- RAUM per advisor
- $74.6MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 48derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.5MderivedHNW RAUM over HNW clients
- Average account
- $591,670derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.6%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.4derivedItem 5.A over advisors
- Advisors per office
- 12.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +27%derivedbetween the last two annual amendments
- Advisor growth, one year
- +8.3%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +4.9%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, educational seminars, otherreportedItem 5.G
- Custody
- $297M, 259 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$818M91%
- Individuals$71.5M8.0%
- Pension and profit-sharing plans$4.3M0.5%
- Charitable organizations$1.3M0.1%
- Individual clients
- 251reported
- HNW clients
- 323reported
- Pension plan clients
- 3reported
- Charitable clients
- 2reported
- Accounts
- 1,512reported
- Financial planning clients
- 251-500reported
- Wrap fee programs
- noreported
- Custody of client assets
- $297M for 259 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.99 fund_share=0.0 institutional_share=0.01 related_bd=false related_bank=false bd_reps=2.0derived
Advisors registered through the firm
12 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| M••••• S••••• K•••••Certified Financial Planner | Memphis, Tn | Mar 11, 2004 | 45 y | 1 |
| W•••••• I•• S••••••••Certified Financial Planner | Memphis, Tn | Mar 16, 2004 | 37 y | 0 |
| A••••• D• B••••Chartered Financial Analyst | Memphis, Tn | Oct 3, 2013 | 19 y | 1 |
| J•••• C••••• S••••••Certified Financial Planner | Memphis, Tn | Jan 5, 2015 | 13 y | 0 |
| P•••••• J••••• O••••••Certified Financial Planner | Memphis, Tn | Oct 11, 2016 | 10 y | 0 |
| K•••• F•••••• S•••••• | Memphis, Tn | Nov 14, 2016 | 20 y | 2 |
| M•••••• M••••••• | Memphis, Tn | Jun 29, 2017 | 12 y | 0 |
| C••••••••• J••• P••••••Certified Financial Planner | Memphis, Tn | Jan 3, 2019 | 12 y | 1 |
| A•••• R••• L•••••Certified Financial Planner | Memphis, Tn | Mar 6, 2019 | 20 y | 0 |
| S•••••••• L••• G••••••Certified Financial Planner | Memphis, Tn | Apr 28, 2023 | 11 y | 2 |
| L•••• J• M••••••Certified Financial Planner | Memphis, Tn | Aug 9, 2024 | 10 y | 0 |
| J••• G•••••• D•••• | Memphis, Tn | Aug 26, 2025 | 11 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- K•••••• M•••••••• E•••• to R•••••• J•••• • A••••••••• I•••Nov 29, 2016 · Other
- J•••• B••• F•••••• to C••••• A•••••• N••••••• L••Dec 7, 2010 · Other
Joined, latest
- S•••••••• L••• G•••••• from R•••••• J•••• F•••••••• S••••••• A•••••••• I••Apr 28, 2023 · Affiliated broker-dealer or bank to independent RIA
- C••••••••• J••• P•••••• from S••••••• F•••••••• S•••••••• I•••Jan 3, 2019 · Affiliated broker-dealer or bank to independent RIA
- A••••• D• B•••• from C••••• A•••••• N••••••• L••Oct 3, 2013 · Other
- K•••••• M•••••••• E•••• from C••••• A•••••• N••••••• L••Sep 9, 2013 · Other
- K•••• F•••••• S•••••• from F•••• H•••••• A•••••••• I••Sep 16, 2008 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from C••••• A•••••• N••••••• L••Jul 25, 2016 · Memphis, Tn
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- B••••• A•••••• D• · Co-Chief Investment Officercontrolsince 05/2019 · owns 10% to 25%
- K•••••• M•••••• S••••• · Chairmancontrolsince 04/1981 · owns 10% to 25%
- L••••••• R•••••• J•• · President/Co-Chief Investment Officercontrolsince 08/1979 · owns 10% to 25%
- M•••••••• M•••••• · Chief Compliance Officercontrolsince 05/2019 · owns less than 5%
- S••••••• K••••• F•••••• · Director Of Financial Planningcontrolsince 05/2019 · owns 10% to 25%
- O••••••• P••••••• J••••• · Senior Financial A••••••since 01/2022 · owns 10% to 25%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Memphis, Tn · principal | 12 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 1,353 to 1,512Mar 28, 2025 to Mar 31, 2026
- Advisory employees · 12 to 13Mar 28, 2025 to Mar 31, 2026
- Advisory activities · 4 to 5Mar 28, 2025 to Mar 31, 2026
- BD registered reps · 3 to 2Mar 28, 2025 to Mar 31, 2026
- Charity clients · 1 to 2Mar 28, 2025 to Mar 31, 2026
- HNW clients · 318 to 323Mar 28, 2025 to Mar 31, 2026
- Individual clients · 229 to 251Mar 28, 2025 to Mar 31, 2026
- Pension plan clients · 4 to 3Mar 28, 2025 to Mar 31, 2026
- Assets in custody · $235M to $297MMar 28, 2025 to Mar 31, 2026
- Employees · 15 to 17Mar 28, 2025 to Mar 31, 2026
- Financial planning clients · 101-250 to 251-500Mar 28, 2025 to Mar 31, 2026
- State-registered IARs · 12 to 13Mar 28, 2025 to Mar 31, 2026
- Discretionary RAUM · $705M to $895MMar 28, 2025 to Mar 31, 2026
- HNW RAUM · $578M to $818MMar 28, 2025 to Mar 31, 2026
- Individual RAUM · $122M to $71.5MMar 28, 2025 to Mar 31, 2026
- Pension RAUM · $4.5M to $4.3MMar 28, 2025 to Mar 31, 2026
- RAUM · $705M to $895MMar 28, 2025 to Mar 31, 2026
- Accounts · 1,288 to 1,353Dec 3, 2024 to Mar 28, 2025
- Advisory employees · 11 to 12Dec 3, 2024 to Mar 28, 2025
- BD registered reps · 12 to 3Dec 3, 2024 to Mar 28, 2025
- HNW clients · 227 to 318Dec 3, 2024 to Mar 28, 2025
- Individual clients · 314 to 229Dec 3, 2024 to Mar 28, 2025
- Pension plan clients · 3 to 4Dec 3, 2024 to Mar 28, 2025
- Assets in custody · $233M to $235MDec 3, 2024 to Mar 28, 2025
- Financial planning clients · 101-250 to 101-250Dec 3, 2024 to Mar 28, 2025
- State-registered IARs · 11 to 12Dec 3, 2024 to Mar 28, 2025
- Discretionary RAUM · $647M to $705MDec 3, 2024 to Mar 28, 2025
- HNW RAUM · $537M to $578MDec 3, 2024 to Mar 28, 2025
- Individual RAUM · $106M to $122MDec 3, 2024 to Mar 28, 2025
- Pension RAUM · $3.6M to $4.5MDec 3, 2024 to Mar 28, 2025
- RAUM · $647M to $705MDec 3, 2024 to Mar 28, 2025
- Accounts · 1,204 to 1,288Apr 26, 2023 to Mar 28, 2024
- BD registered reps · 11 to 12Apr 26, 2023 to Mar 28, 2024
- HNW clients · 206 to 227Apr 26, 2023 to Mar 28, 2024
- Individual clients · 320 to 314Apr 26, 2023 to Mar 28, 2024
- Assets in custody · $191M to $233MApr 26, 2023 to Mar 28, 2024
- State-registered IARs · 10 to 11Apr 26, 2023 to Mar 28, 2024
- Discretionary RAUM · $541M to $647MApr 26, 2023 to Mar 28, 2024
- HNW RAUM · $436M to $537MApr 26, 2023 to Mar 28, 2024
- Individual RAUM · $101M to $106MApr 26, 2023 to Mar 28, 2024
Signals
4 dated events
- K••••• L•••••• I•• reported RAUM $894.6M, up 27% from $705.4M (2025-03-28 to 2026-03-31)Mar 31, 2026 · RAUM change · derived
- M•••••• M••••••• (Chief Compliance Officer) appeared on Schedule A of K••••• L•••••• I••May 31, 2019 · Control person joined · fact
- Francis Keith Schmitt (Director Of Financial Planning) appeared on Schedule A of K••••• L•••••• I••May 31, 2019 · Control person joined · fact
- D Andrew Buzan (Co-Chief Investment Officer) appeared on Schedule A of K••••• L•••••• I••May 31, 2019 · Control person joined · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business email
- k•••••@k•••••••••.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 901-685-8013reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 901-685-8284reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/kelman-lazarov-inc.reportedpublic record, Form ADV, Sep 18, 2026
- Website
- K•••••-L••••••.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 901-685-8284reportedpublic record, Form ADV, Mar 31, 2026
- Contact form
- k•••••••••.comreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- k•••••••••.comreportedpublished by the firm, firm site, Sep 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $74.6Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026