Description of Services and Fees Keystone Financial Planning, Inc is a registered investment adviser based in Middleburg Heights, Ohio. We are organized as a corporation under the laws of the State of Ohio. We have been providing investment advisory services since 1986. Mr. Keith Sechler, Chief Executive Officer, and Linda Borowiak, Shareholder, are our principal owners. Currently, we offer the following investment advisory services, which are personalized to each individual client:
•Portfolio Management Services
•Financial Planning and Consulting Services The following paragraphs describe our services and fees. Please refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we", "our" and "us" refer to Keystone Financial Planning, Inc and the words "you", "your" and "client" refer to you as either a client or prospective client of our firm. Also, you may see the term Associated Person throughout this Brochure. As used in this Brochure, our Associated Persons are our firm's officers, employees, and all individuals providing investment advice on behalf of our firm. The use of these terms is not intended to imply that there is more than one individual associated with this firm.
Portfolio Management We provide discretionary portfolio management/timing services on a continuous basis. The investment advice provided is custom tailored to meet your investment needs and objectives. Subject to any written guidelines, which you may provide, our firm normally has complete discretion and authority to manage your account. Accordingly, we are authorized to perform various investment functions, at your expense, without further approval from you. Such functions include our ability to make all investment decisions on the (a) securities purchased or sold; (b) the amount of securities to be purchased or sold; and (c) the commission rates to be paid.
As part of our portfolio management services, we also provide financial planning to assist you in several areas, including but not limited to: determining short and long term investment goals, ascertaining your risk tolerance and analyzing your financial situation regarding taxation, insurance and investment allocations, as requested. An Associated Person of our firm will work with you to develop an individualized financial plan. We will review your financial plan with you upon delivery of the plan and thereafter upon your request. The initial and subsequent reviews are included as part of your annual advisory fee.
We charge an annual asset based fee for our advisory services. On an annualized basis, our fee for portfolio management/timing and services is based on the following fee schedule: Annual Fee Schedule Assets Under ManagementAnnualized Fee First $1 million1.00% Next $4 million 0.50% $5 million up to the next tier0.50% Fixed Entire Account Above $40 million0.40% Fixed Entire Account 4 In limited situations, subject to our discretion, we may charge clients with less than $1,000,000 in assets under management a fixed fee ranging from $2,000 to $10,000 which is paid quarterly in arrears. Once your assets grow above $1,000,000, the fixed fee will no longer apply. Your assets will then be charged as an asset based fee as described below. Additionally, legacy relationships may pay a different fee schedule than what is published above.
Our annual portfolio management fee is a combination of a blended and linear fee schedule. The annual fee is assessed on a blended basis on the first $5,000,000. Once you cross the $5,000,000 threshold, our fee is no longer assessed on a blended basis, but is instead assessed a linear or fixed fee basis of 0.50%. For example, if your account has a balance of $1,500,000, the first $1,000,000 will be assessed at 1.00% and the next $500,000 will be assessed at 0.50%. Once you cross the threshold of $5,000,000, the blended fee schedule no longer applies and your account will be assessed 0.50% on the total balance. An additional reduction in fees is applied when assets exceed $40,000,000.
Our annual fee for portfolio management services are billed quarterly in arrears based on the average market value of the assets on the first day of the three months of the quarter. We will include fee based annuity accounts in the total value used for our advisory billing/fee computation. The value of the annuity sub accounts will be added to the value of your total assets for billing purposes.
Our advisory fees are negotiable, in our sole discretion, and arrangements with any client may differ from those described above. Our fees will be assessed pro rata in the event our management agreement is executed at any time other than the first day of a calendar quarter.
At our discretion, we may combine the account values of family members to determine the applicable advisory fee. For example, we may combine account values for you and your, joint accounts with your spouse, and other types of related accounts. Combining account values may increase the asset total, which may result in your paying a reduced advisory fee based on the available breakpoints in our fee schedule stated above. For certain accounts, i.e., family, friends and employees we may waive our fee in our sole discretion.
We may also allow, in our discretion, accounts of members of the same business, e.g. dental office, to be aggregated for purposes of determining our advisory fee. We may allow such aggregation, for example, where our firm services accounts on behalf of multiple employees/owners of the same firm. This consolidation practice is designed to allow these accounts

the benefit of an increased asset total which could potentially cause them to be assessed a reduced advisory fee based on the breakpoints available in our fee schedule as stated above.
We will either invoice you directly or payment of the fees will be made by the qualified custodian holding your funds and securities provided you provide written authorization permitting the fees to be paid directly from your account. We will not have access your funds for payment of fees without your consent in writing. Further, the qualified custodian agrees to deliver a quarterly account statement directly to you. You are is encouraged to review your account statements for accuracy. Our firm will receive a duplicate copy of the statement that was delivered to you.
The fees charged are calculated as described above and are not charged on the basis of a share of capital gains upon, or capital appreciation of, the funds or any portion of the funds of an advisory client (SEC Rule 205(a)(1)).
5 You may terminate the portfolio management agreement within five (5) business days of signing the agreement without penalty. Thereafter, either party may terminate the agreement at anytime upon written notice to the other. The management fee will be pro-rated for the quarter in which the cancellation notice was given and the fee is due and payable. Refunds are not applicable as management fees are payable in arrears.
Financial Planning and Consulting Services We provide stand alone financial planning and consulting services for a yearly fixed fee ranging from $2,000 - $10,000. Such services include, but are not limited to: assisting you to determine short and long term investment goals, ascertaining your risk tolerance and analyzing your financial situation regarding taxation, insurance and investment allocations. We also assist you with communications with other advisors and administrative assistance with paperwork for employee benefits and other life needs. An Associated Person of our firm will work with you to develop an individualized financial plan. We will review your financial plan with you upon delivery of the plan and thereafter upon your request. Financial planning and consulting fees are proportional to the complexity of your individual circumstances. Our fee will be assessed pursuant to a pre-arranged fixed fee where such fee is negotiated with you in advance of services rendered. For ongoing financial planning services, we will charge the fee quarterly in arrears. For example, a fixed fee agreement of $2,000 per year is billed $500 per a quarter in arrears. For one-off financial planning and consulting services, the advisory fees are due and payable upon completion of the contracted services. In no event will we require you pay us a fee of more than $1,200 six or months in advance.
You may terminate the advisory agreement within five (5) business days of signing the agreement without penalty. Thereafter, either party may terminate the agreement at anytime upon written notice to the other. You will be responsible for a prorated fee based on services performed prior to termination of the advisory agreement. Types of Investments We primarily recommend investments in fee based variable annuities, individual stocks, mutual funds and exchange traded funds, with the goal of a dividend stream that increases over time; however, we may advise you on any type of investment that we deem appropriate, including fee-based variable annuities, based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship.
You may request that we refrain from investing in particular securities or certain types of securities. You must provide these restrictions to our firm in writing.
Rollover Recommendations Effective December 20, 2021 (or such later date as the US Department of Labor ("DOL") Field Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE 2020-02") where applicable, we are providing the following acknowledgment to you. When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interest ahead of yours. Under this special rule's provisions, we must:
•Meet a professional standard of care when making investment recommendations (give prudent advice);
•Never put our financial interests ahead of yours when making recommendations (give loyal 6 advice);
•Avoid misleading statements about conflicts of interest, fees, and investments;
•Follow policies and procedures designed to ensure that we give advice that is in your best interest;
•Charge no more than is reasonable for our services; and
•Give you basic information about conflicts of interest. We benefit financially from the rollover of your assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in your best interest.
Assets Under Management As of December 31, 2023, we provide continuous management services for $351,183,124 in client assets managed on a discretionary basis.