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Updated September 24, 2026. Quick answer: KeyBank Private Wealth is registered with the SEC as both a broker-dealer and an investment adviser. Per its own current fee brochure, a $500,000 account would run $7,000 a year under its published fee schedule; the minimum to open an account is $10,000 to $100,000 for KIS Advisory Fee wrap programs, depending on strategy. Is it a fiduciary? Yes, when it is acting as your investment adviser; when the same representative acts as your broker-dealer instead, the applicable standard is best-interest, not fiduciary, and its own Form CRS states representatives can earn commissions in that capacity.
KeyBank Private Wealth at a glance
| Fact | What KeyBank Private Wealth’s own pages say |
|---|---|
| Legal entity | Key Investment Services LLC |
| Registration | Key Investment Services LLC (KIS) is registered with the Securities and Exchange Commission (SEC) as both a broker-dealer and an investment adviser and is a member of the Financial Industry Regulatory Authority, Inc. (FINRA) and the Securities Investor Protection Corporation (SIPC). |
| Fee on a $500,000 account | $7,000 a year, per its own current brochure |
| Minimum to open an account | $10,000 to $100,000 for KIS Advisory Fee wrap programs, depending on strategy |
| Cost to leave (exit fee) | See how to leave KeyBank Private Wealth |
What KeyBank Private Wealth’s own fee schedule charges
“The following fee schedule applies to the KIS Advisory Fee: Portfolio Value $0-$1,000,000 = 1.40%; Portfolio Value $1,000,001+ = 1.00%. Only the KIS Advisory Fee portion of the Program Fee is negotiable.”
A whole-balance breakpoint schedule (the brochure’s table gives one rate per portfolio-value range, not a marginal First-$X/Next-$Y bracket, so the full balance is charged at the rate of the range it falls into): at $250,000, $500,000 and $1,000,000 the full balance falls in the $0-$1,000,000 range at 1.40% (250000×0.014=3500; 500000×0.014=7000; 1000000×0.014=14000); at $2,000,000 the full balance falls in the $1,000,001+ range at 1.00% (2000000×0.01=20000).
| Account balance | Annual fee |
|---|---|
| $250,000 | $3,500 |
| $500,000 | $7,000 |
| $1,000,000 | $14,000 |
| $2,000,000 | $20,000 |
See the full breakdown, including how the figure is calculated, on KeyBank Private Wealth’s own fee page.
Is KeyBank Private Wealth a fiduciary?
Key Investment Services LLC (KIS) is registered with the Securities and Exchange Commission (SEC) as both a broker-dealer and an investment adviser and is a member of the Financial Industry Regulatory Authority, Inc. (FINRA) and the Securities Investor Protection Corporation (SIPC).
“When we provide you with a recommendation as your broker-dealer or as your investment adviser, we have to act in your best interest and not put our interest ahead of yours.”
KIS shares a portion of the revenue generated by your transactions, holdings, and accounts with your financial professional. That percentage varies by financial professional and investment type and may further be shared with other financial professionals. For commissions and fees, for instance, the percentage we share with your financial professional may vary between 0% and 44.5% of the commission or fee generated.
Full detail, including the exact registration type and source: KeyBank Private Wealth’s fiduciary status, explained.
The minimum to open an account
“The following are the minimum investment dollars required to open and maintain an account, unless otherwise agreed to in KIS’s sole and absolute discretion (see Item 4 at KIS Program Services)… The minimum overall account size required to participate in the UMA Program is $75,000. The minimum required investment for each Investment Manager model selected within the UMA Program varies, between $10,000-$100,000.”
$10,000 to $100,000 for KIS Advisory Fee wrap programs, depending on strategy. See the full minimum-investment breakdown, including what that minimum would cost per year, on KeyBank Private Wealth’s minimum investment page.
What it costs to leave
A dedicated how-to-leave page for KeyBank Private Wealth covers the exit costs in full. The general mechanics of switching financial advisors and a dated termination letter apply regardless of firm.
What we would compare it against
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- Key Investment Services LLC Form ADV Part 2A Appendix 1 (Wrap Fee Program Brochure) (March 30, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032865
- Key Investment Services LLC Form CRS (May 9, 2024): https://reports.adviserinfo.sec.gov/crs/crs_136300.pdf
- SEC Investment Adviser Public Disclosure, Key Investment Services LLC (CRD #136300): https://adviserinfo.sec.gov/firm/summary/136300
- Key Investment Services LLC, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/136300/PDF/136300.pdf
Methodology. This page was built September 24, 2026, drawing directly on KeyBank Private Wealth’s own current fee brochure and Form CRS, both linked above, plus this site’s own already-published fiduciary and minimum-investment pages for the same firm, each independently sourced when it was built. Any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading KeyBank Private Wealth’s own Form ADV Part 2A and Form CRS. We have not used KeyBank Private Wealth as a client. KeyBank Private Wealth did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
Comparing firms? See all 182 advisor firm reviews in one table, with each firm’s type and its fee on a $500,000 account.