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: 376

For More Information

CEOJoe H. Miller, Scott Heising, David A. Fischer
Top ExecutiveScott Heising
Recruiting ContactJulia Kohan
(800) 269-1903 x212
Compliance ContactSarah Kreisman
(800) 269-1903
Marketing ContactDavid A. Fischer
(800) 269-1903
Technology Operations ContactJenna Casselberry
(800) 269-1903

Recruitment & Staffing

2019 2018 2017
No. of reps615620625
No. of reps, male475478515
No. of reps, female140142140
No. of producing reps553540550
No. of producing reps, male455444458
No. of producing reps, female989684
No. of reps producing $100K-$499K /year267256220
No. of reps producing $500K+ /year979267
No. of CFPs919081
No. of full-time employees828177
No. of fee-based advisers served404435420
Average payout per rep, per year$294,100$270,500$210,900
Avg. annual production of top 20% reps$1,007,300$1,233,900$705,900
Total payout, per year$161,728,400$148,782,900$116,007,400
Cost of E&O insurance per rep, per year3480$3,480.00$3480.00
Affiliation fees charged per rep, per yearNoneNoneNone
Affiliation fee coverageN/AN/AFidelity Bonds and Email retention fees.
$0-$249,999 $250K-$499,999 $500K-$749,999 $750K-$999,999 $1,000,000+
Mutual funds 86%-90% 90%-91% 91%-95% 91%-95% 91%-95%
Insurance 86%-90% 90%-95% 91%-95% 91%-95% 91%-95%
Variable annuities 86%-90% 90%-91% 91%-95% 91%-95% 91%-95%
Limited parterships 86%-90% 90%-91% 91%-95% 91%-95% 91%-95%
Securities 86%-90% 90%-91% 91%-95% 91%-95% 91%-95%
Required minimum production$150,000
2019 2018 2017
Total revenues$193,497,500$174,207,800$139,275,200
Commission revenues$99,112,500$89,474,900$77,317,000
Securities revenues$7,050,000$5,351,000$4,502,900
Securities revenues: Stocks$4,577,000$2,883,700$2,742,800
Securities revenues: Bonds$2,442,600$1,982,000$1,408,600
Securities revenues: ETFs$450,000$325,000
Securities revenues: Other$30,400$35,300$26,500
Mutual fund revenues$21,918,600$16,642,900$16,336,100
Annuities revenues$46,070,000$48,927,100$34,417,200
Annuities revenues: Fixed$4,266,000$3,506,500$1,660,100
Annuities revenues: Variable$39,043,400$41,454,200$30,202,800
Annuities revenues: Other$2,760,600$3,966,400$2,554,300
Insurance revenue$1,113,500$1,364,900$1,538,900
Insurance revenues: Life$799,100$1,211,200$1,451,300
Insurance revenues: Disabilities$12,100$9,000$13,900
Insurance revenues: LTC$302,300$144,700$73,700
Insurance revenues: Other
Alternative revenues$22,960,400$17,189,000$20,521,900
Alternative revenues: Hedge funds
Alternative revenues: Managed futures
Alternative revenues: Private placements
Alternative revenues: REITs$8,138,100$4,523,700$12,923,200
Alternative revenues: Other$14,822,300$12,665,300$7,598,700
Other commission revenues
Fee revenues$80,880,500$73,559,400$51,060,700
Fee revenues: Rep-managed accounts$32,786,700$29,197,700$16,989,000
Fee revenues: Firm-managed accounts$24,355,400$18,618,100$12,346,600
Fee revenues: Outside-managed accounts$20,180,800$22,902,700$19,838,400
Fee revenues: Other$3,557,600$2,840,900$1,886,700
Total revenues: Other$13,504,500$11,173,500$10,897,500
2019 2018 2017
Total account assets$30,108,100,000$26,955,500,000$18,727,243,900
Fee-based assets$8,003,238,000$6,837,566,000$5,647,222,000
Fee-based assets: Clearing firm$3,849,335,000$2,780,736,000$1,030,294,000
Fee-based assets: Advisory firm platforms$1,451,244,000$1,271,380,000$1,509,672,000
Fee-based assets: Third-party money managers$1,540,549,000$1,750,624,000$1,781,512,000
Fee-based assets: Other$1,162,110,000$1,034,826,000$1,325,744,000
Total account assets: Other$22,104,862,000$20,117,934,000$13,080,021,900
Average assets per rep$48,956,260$43,476,613$29,963,590
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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