Veritas Independent Partners
Clearing firm: TD Ameritrade
No. advisers: 28
No. franchises: 12
AUM: $125,361,287
Year founded: 2013
Year end: Dec. 31
No. of retail offices: 18
Recruitment & Staffing
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| No. of reps | 34 | 28 | 26 |
| No. of reps, male | 26 | 18 | 18 |
| No. of reps, female | 8 | 10 | 8 |
| No. of producing reps | 34 | 28 | 23 |
| No. of producing reps, male | 28 | 18 | 17 |
| No. of producing reps, female | 6 | 10 | 6 |
| No. of reps producing $100K-$499K /year | 6 | 4 | 4 |
| No. of reps producing $500K+ /year | 0 | 0 | 0 |
| No. of CFPs | 3 | 3 | 3 |
| No. of full-time employees | 5 | 3 | 3 |
| No. of fee-based advisers served | 18 | 21 | 18 |
| Average payout per rep, per year | $87,432 | $90,767 | $90,821 |
| Avg. annual production of top 20% reps | $163,542 | $194,315 | $202,201 |
| Total payout, per year | $1,155,001 | $912,740 | $801,114 |
| Cost of E&O insurance per rep, per year | 1200 | $1200 | 1200 |
| Affiliation fees charged per rep, per year | None | None | None |
| Affiliation fee coverage | — | N/A | — |
| $0-$249,999 | $250K-$499,999 | $500K-$749,999 | $750K-$999,999 | $1,000,000+ | |
|---|---|---|---|---|---|
| Mutual funds | $25,000-$44,999 65% $45,000-$59,999 70% $60,000-$74,999 80% $75,000-$199,999 85% $200,000-+ 90% | 86%-90% | 86%-90% | 86%-90% | 86%-90% |
| Insurance | $25,000-$44,999 65% $45,000-$59,999 70% $60,000-$74,999 80% $75,000-$199,999 85% $200,000-+ 90% | 86%-90% | 86%-90% | 86%-90% | 86%-90% |
| Variable annuities | $25,000-$44,999 65% $45,000-$59,999 70% $60,000-$74,999 80% $75,000-$199,999 85% $200,000-+ 90% | 86%-90% | 86%-90% | 86%-90% | 86%-90% |
| Limited parterships | Do not offer this product | Do not offer this product | Do not offer this product | Do not offer this product | Do not offer this product |
| Securities | Do not offer this product | Do not offer this product | Do not offer this product | Do not offer this product | Do not offer this product |
| Required minimum production | $25,000 | ||||
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total revenues | $1,460,102 | $1,176,446 | $973,829 |
| Commission revenues | $551,003 | $539,470 | $428,911 |
| Securities revenues | 0 | 0 | 0 |
| Securities revenues: Stocks | — | — | — |
| Securities revenues: Bonds | — | — | — |
| Securities revenues: ETFs | — | — | — |
| Securities revenues: Other | — | — | — |
| Mutual fund revenues | $116,089 | $67,309 | $53,746 |
| Annuities revenues | $434,914 | $472,161 | $382,872 |
| Annuities revenues: Fixed | $26,357 | $3,407 | $27,100 |
| Annuities revenues: Variable | $408,557 | $468,754 | $355,772 |
| Annuities revenues: Other | 0 | 0 | 0 |
| Insurance revenue | 0 | 0 | 0 |
| Insurance revenues: Life | — | 0 | 0 |
| Insurance revenues: Disabilities | — | 0 | 0 |
| Insurance revenues: LTC | — | 0 | 0 |
| Insurance revenues: Other | — | 0 | 0 |
| Alternative revenues | 0 | 0 | 0 |
| Alternative revenues: Hedge funds | — | — | 0 |
| Alternative revenues: Managed futures | — | — | 0 |
| Alternative revenues: Private placements | — | — | 0 |
| Alternative revenues: REITs | — | — | 0 |
| Alternative revenues: Other | — | — | 0 |
| Other commission revenues | 0 | 0 | 0 |
| Fee revenues | $909,099 | $636,972 | $544,918 |
| Fee revenues: Rep-managed accounts | $909,099 | $625,490 | $528,145 |
| Fee revenues: Firm-managed accounts | 0 | 0 | 0 |
| Fee revenues: Outside-managed accounts | 0 | $10,257 | $16,773 |
| Fee revenues: Other | 0 | $1,225 | 0 |
| Total revenues: Other | 0 | 0 | 0 |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total account assets | $221,710,106 | $125,361,287 | $64,022,359 |
| Fee-based assets | $114,668,401 | $73,981,665 | $64,022,359 |
| Fee-based assets: Clearing firm | 0 | 0 | 0 |
| Fee-based assets: Advisory firm platforms | $114,668,401 | $72,939,311 | $58,571,017 |
| Fee-based assets: Third-party money managers | 0 | $1,042,354 | $1,098,018 |
| Fee-based assets: Other | 0 | 0 | $4,353,324 |
| Total account assets: Other | 0 | 0 | 0 |
| Average assets per rep | $6,520,885 | $4,477,189 | $2,462,398 |
| Social Media & Mobile | |||
| Allows advisers to use social media | Y | ||
| Social media sites allowed | Facebook | ||
| Dedicated mobile application for advisers? | N | ||
| Primary purpose of mobile application | — | ||
| Software Offered | |||
| Account aggregation software | NDex | ||
| Compliance software | — | ||
| CRM | Advisor Assistant (Client Marketing Systems Inc.) NDex |
||
| Document management | NDex | ||
| Financial planning | — | ||
| Portfolio management | Advisors Assistant (Client Marketing Systems Inc.) NDex |
||
| Portfolio rebalancing | iRebal, the Intelligent Rebalancer (ThinkTech Inc.) NDex |
||
| Robo-advice | |||
| Offers robo-advisory platform? | N | ||
| If not, when plans to offer a robo-platform | We do not plan on offering robo-advisory services | ||
| Robo-advice services offered | — | ||
| How robo-platform developed | — | ||
| Charge for robo-advisory services? | — | ||
- Notes
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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