Independent Financial Group LLC

Independent Financial Group LLC


12671 High Bluff Drive Suite 200

San Diego, CA 92130

(858) 436-3180

Clearing firm: Pershing LLC

No. advisers: 615

No. franchises: 365

AUM: $30,108,100,000

Year founded: 2003

Year end: Dec. 31

No. of retail offices: 370

For More Information

CEOScott Heising, Joe H. Miller, David A. Fischer
Top ExecutiveScott Heising
Recruiting ContactJulia Kohan
(800) 269-1903
Compliance ContactSarah Kreisman
(800) 269-1903
Marketing ContactDavid A. Fischer
(800) 269-1903
Technology Operations ContactMason Moore
(800) 269-1903

Recruitment & Staffing

2020 2019 2018
No. of reps615615620
No. of reps, male481475478
No. of reps, female134140142
No. of producing reps538553540
No. of producing reps, male451455444
No. of producing reps, female879896
No. of reps producing $100K-$499K /year259267256
No. of reps producing $500K+ /year989792
No. of CFPs889190
No. of full-time employees808281
No. of fee-based advisers served450404435
Average payout per rep, per year$334,000$294,100$270,500
Avg. annual production of top 20% reps$1,046,000$1,007,300$1,233,900
Total payout, per year$167,982,600$161,728,400$148,782,900
Cost of E&O insurance per rep, per year34803480$3,480.00
Affiliation fees charged per rep, per yearN/ANoneNone
Affiliation fee coverageN/AN/AN/A
$0-$249,999 $250K-$499,999 $500K-$749,999 $750K-$999,999 $1,000,000+
Mutual funds 86%-90% 90% - 91% 91% - 92% 91% - 92% 92% - 93%
Insurance 86%-90% 90% - 95% 91% - 92% 91% - 92% 92% - 95%
Variable annuities 86%-90% 90% - 91% 91% - 92% 91% - 92% 92% - 93%
Limited parterships 86%-90% 90% - 91% 91% - 92% 91% - 92% 92% - 93%
Securities 86%-90% 90% - 91% 91% - 92% 91% - 92% 92% - 93%
Required minimum production$150,000
2020 2019 2018
Total revenues$197,100,000$193,497,500$174,207,800
Commission revenues$94,256,000$99,112,500$89,474,900
Securities revenues$14,717,000$7,050,000$5,351,000
Securities revenues: Stocks$10,308,400$4,577,000$2,883,700
Securities revenues: Bonds$4,356,500$2,442,600$1,982,000
Securities revenues: ETFs$450,000
Securities revenues: Other$52,100$30,400$35,300
Mutual fund revenues$20,725,700$21,918,600$16,642,900
Annuities revenues$42,287,400$46,070,000$48,927,100
Annuities revenues: Fixed$2,029,700$4,266,000$3,506,500
Annuities revenues: Variable$35,009,200$39,043,400$41,454,200
Annuities revenues: Other$5,248,500$2,760,600$3,966,400
Insurance revenue$3,453,400$1,113,500$1,364,900
Insurance revenues: Life$3,014,700$799,100$1,211,200
Insurance revenues: Disabilities$13,900$12,100$9,000
Insurance revenues: LTC$424,800$302,300$144,700
Insurance revenues: Other
Alternative revenues$13,072,500$22,960,400$17,189,000
Alternative revenues: Hedge funds
Alternative revenues: Managed futures
Alternative revenues: Private placements
Alternative revenues: REITs$3,040,300$8,138,100$4,523,700
Alternative revenues: Other$10,032,200$14,822,300$12,665,300
Other commission revenues
Fee revenues$91,551,500$80,880,500$73,559,400
Fee revenues: Rep-managed accounts$36,280,000$32,786,700$29,197,700
Fee revenues: Firm-managed accounts$30,746,000$24,355,400$18,618,100
Fee revenues: Outside-managed accounts$20,263,300$20,180,800$22,902,700
Fee revenues: Other$4,262,200$3,557,600$2,840,900
Total revenues: Other$11,292,500$13,504,500$11,173,500
2020 2019 2018
Total account assets$31,636,000,000$30,108,100,000$26,955,500,000
Fee-based assets$9,444,873,000$8,003,238,000$6,837,566,000
Fee-based assets: Clearing firm$4,906,650,000$3,849,335,000$2,780,736,000
Fee-based assets: Advisory firm platforms$1,441,000,000$1,451,244,000$1,271,380,000
Fee-based assets: Third-party money managers$2,141,223,000$1,540,549,000$1,750,624,000
Fee-based assets: Other$956,000,000$1,162,110,000$1,034,826,000
Total account assets: Other$22,191,127,000$22,104,862,000$20,117,934,000
Average assets per rep$51,440,650$48,956,260$43,476,613
Social Media & Mobile
Allows advisers to use social mediaY
Social media sites allowedFacebook
Dedicated mobile application for advisers?Y
Primary purpose of mobile applicationAccess to client holdings and activity
Software Offered
Account aggregation software Albridge Wealth Reporting (Albridge, an affiliate of Pershing)
Compliance software Albridge Sales Practice Monitoring (an affiliate of Pershing)
CRM Redtail CRM (Redtail Technology)
Document management
Financial planning eMoney360 (eMoney Advisor)
MoneyGuidePro (PIEtech Inc.)
Morningstar Advisor Workstation (Morningstar Inc.)
Portfolio management Albridge Wealth Reporting (Albridge, and affiliate of Pershing)
Portfolio rebalancing Advisor Rebalancing (Envestnet/Tamarac)
Offers robo-advisory platform?Y
If not, when plans to offer a robo-platform
Robo-advice services offered
How robo-platform developedPurchased an off-the-shelf third-party platform
Charge for robo-advisory services?N
  • 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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