Independent Financial Group
SEC-registered investment adviser in San Diego, CaliforniaRegistered since 2004
Figures as filed with the SEC on 17 March 2026. Checked against the SEC's public record on 17 September 2026.
Independent Financial Group, LLC is a San Diego-based, SEC-registered investment adviser reporting $12.93B in regulatory assets in its March 2026 Form ADV. Its brochure lists Maximum 3.00% a year for each listed program in advisory fees.
Assets and clients#
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 23,458 | $7,122,879,299 | 55.1% | $304K |
| High-net-worth individuals | 2,438 | $5,162,794,779 | 39.9% | $2.12M |
| Pension and profit-sharing plans | 347 | $247,767,770 | 1.9% | $714K |
| Charitable organizations | 85 | $70,991,676 | 0.5% | $835K |
| Corporations and other businesses | 307 | $321,002,277 | 2.5% | $1.05M |
| Total | 26,635 | $12,925,435,801 | 100% | $485K |
- Regulatory AUM
- $7,122,879,299
- Share
- 55.1%
- Avg. per client
- $304K
- Regulatory AUM
- $5,162,794,779
- Share
- 39.9%
- Avg. per client
- $2.12M
- Regulatory AUM
- $247,767,770
- Share
- 1.9%
- Avg. per client
- $714K
- Regulatory AUM
- $70,991,676
- Share
- 0.5%
- Avg. per client
- $835K
- Regulatory AUM
- $321,002,277
- Share
- 2.5%
- Avg. per client
- $1.05M
Discretion
- Discretionary
- $12,720,534,544 across 54,510 accounts (98.4% of AUM)
- Non-discretionary
- $204,901,257 across 441 accounts (1.6%)
- Wrap fee program
- $6,440,926,627 in a wrap fee program the firm both sponsors and manages
- Non-U.S. clients
- 38540088% of clients
- Non-AUM advisory clients
- 301 clients received advice without assets under management last fiscal year
Form ADV Part 1A, Items 5.D and 5.F. Fiscal year ends December; amendment filed 17 March 2026. View Item 5 in the filing
Fees#
| Service | How it is charged | Stated range |
|---|---|---|
| AccessPoint and other listed advisory and wrap programs | The brochure states that program fees are negotiated and billed monthly or quarterly, in advance or arrears, based on account value. The listed programs include AccessPoint, I-Design, I-Custom, Advisor Plus, third-party management and investment-model services, and CAM Advisor Wrap at Schwab. | Maximum 3.00% a year for each listed program |
| Third-party asset-management programs | The IAR management fee is in addition to the third-party manager fee, except generally in promoter programs where it is included in that fee. | IAR maximum 3.00% a year; third-party schedules vary |
| Retirement Plan Services | Fees are negotiated and may be asset-based, flat, or project fees. They may be paid in advance or arrears. | Asset-based fee not to exceed 2.00% of plan assets a year; flat and project fees negotiable |
| AP Client non-wrap program | Annual adviser fee plus a separate asset-dependent platform fee | Adviser fee up to 2.00%, plus 0.04% to 0.16% platform fee |
- How it is charged
- The brochure states that program fees are negotiated and billed monthly or quarterly, in advance or arrears, based on account value. The listed programs include AccessPoint, I-Design, I-Custom, Advisor Plus, third-party management and investment-model services, and CAM Advisor Wrap at Schwab.
- How it is charged
- The IAR management fee is in addition to the third-party manager fee, except generally in promoter programs where it is included in that fee.
- How it is charged
- Fees are negotiated and may be asset-based, flat, or project fees. They may be paid in advance or arrears.
- How it is charged
- Annual adviser fee plus a separate asset-dependent platform fee
Account minimums
The brochure lists $5,000 for AccessPoint Models, $25,000 for Advisor Portfolios, and $2,000 (manager dependent) for Fund Strategist Portfolios. It states separately managed-account minimums are manager dependent.
Other costs
The brochure says clients may also pay transaction, custody, and account-related fees, as well as the internal fees and expenses of funds and other collective investment vehicles.
Other program minimums
Item 7 states a $25,000 minimum for AP Client and a $50,000 minimum for CAM Client Schwab, subject to the household exceptions stated in the brochure. Retirement-plan services have no stated account minimum.
Form ADV Part 2A brochure, Item 5, dated 17 March 2026. View Item 5 in the brochure
Custodians#
| Custodian | Location | SMA assets held | Share |
|---|---|---|---|
| Pershing LLC | Jersey City, NJ | $63,373,251 | 0.5% |
| All other custodians | — | $12,862,062,550 | 99.5% |
- Location
- Jersey City, NJ
- Share
- 0.5%
- Location
- —
- Share
- 99.5%
The brochure also names Charles Schwab & Co., Inc. as custodians the firm may recommend. Pershing each reported that they are not a related person of the firm.
Custody of client assets
The brochure states that Pershing is the unaffiliated custodian for AccessPoint accounts and is responsible for execution, clearing, custody, statements, and confirmations. It also describes a CAM Advisor Wrap program at Charles Schwab. Schedule D reports Pershing as holding at least 10% of separately managed-account assets.
Schedule D, Section 5.K.(3) lists every custodian holding 10% or more of separately managed account assets. View Section 5.K.(3) in the filing
Leadership and ownership#
| Name | Title | CRD |
|---|---|---|
 Scott Allen Heising | Chief Executive Officer / Managing Director | 2192259 |
 David Allen Fischer | Managing Director | 1634222 |
| Troy Dale Pearson | ROSFP | 2413897 |
 Sarah Jill Kreisman | SVP & General Counsel | 2671706 |
 Brian Dennen | CCO Brokerage & Advisory | 3239786 |
 Kevin Michael Keefe | President, COO | 1869560 |
 Scott Earle Davis | CFO & FINOP | 7160800 |
Scott Allen Heising2192259- Title
- Chief Executive Officer / Managing Director
David Allen Fischer1634222- Title
- Managing Director
- Title
- ROSFP
Sarah Jill Kreisman2671706- Title
- SVP & General Counsel
Brian Dennen3239786- Title
- CCO Brokerage & Advisory
Kevin Michael Keefe1869560- Title
- President, COO
Scott Earle Davis7160800- Title
- CFO & FINOP
Ownership chain
- Direct owner
- Independent Financial Group, Inc. holds the 75% or more ownership band in the adviser.
- Indirect owners
- The Fischer Family Trust - Revocable and The Heising Family Trust - Revocable each hold the 25% to 50% band in Independent Financial Group, Inc. David Allen Fischer and Scott Allen Heising are respectively reported as trustee and control person for those trusts.
Schedules A and B. Ownership percentages are the SEC's reporting bands, not exact figures. View Schedule A in the filing
Offices and registrations#
- Branch offices
- 398 reported to IAPD; Part 1A lists 26 office addresses in at least 13 states
- SEC registration
- Approved 30 January 2004, file number 801-62667
- State notice filings
- 52 jurisdictions, most recently Wyoming, 11 March 2020
- Advisory staff
- 476 of 624 employees perform advisory functions; 513 are also broker-dealer registered representatives and 486 are licensed insurance agents
- Promoters
- 0 outside firms or persons solicit clients on the firm's behalf
Offices by state
- Arizona3
- California11
- Connecticut1
- Illinois1
- Maryland1
- Minnesota1
- Nevada1
- New York1
- Oregon1
- Puerto Rico1
- Tennessee1
- Texas2
- Wisconsin1
Other business names
Independent Financial Group has reported 5 other business names to the SEC in Item 1.B. Its brochure states that advisory services are provided by Independent Financial Group, LLC in every case, and that some names are used by its advisors for marketing.
- Hagerty Stewart & Associates LLC
- Hagerty, Stewart & Associates, Inc.
- Hagerty, Van Mourick & Logan
- IFG Financial Group, LLC
- Independent Financial Group, Inc.
Headquartered at 12671 High Bluff Drive, Suite 200, San Diego, CA 92130. Organized as a Delaware limited liability company. The brochure dates the firm's founding to 2001. View Section 1.F in the filing
Other business and affiliations#
- Other business
- Schedule D states that IFG provides broker-dealer services and insurance products. The brochure says many investment adviser representatives are also registered representatives and may offer commission-based products.
- Private funds
- The Form ADV reports no private funds in either private-fund reporting section.
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Form ADV Part 1A, Items 6 and 7, and Schedule D. View Item 6 in the filing
Common questions#
How much does Independent Financial Group charge?
The brochure states that its listed AccessPoint and other advisory and wrap programs have a maximum advisory fee of 3.00% a year. Retirement Plan Services asset-based fees are negotiable and may not exceed 2.00% of plan assets a year.
What are Independent Financial Group’s account minimums?
The brochure lists $5,000 for AccessPoint Models, $25,000 for Advisor Portfolios, and $2,000, depending on the manager, for Fund Strategist Portfolios. It states that separately managed-account minimums depend on the manager.
Where are client assets held?
The brochure states that Pershing is the unaffiliated custodian for AccessPoint accounts. It also describes a CAM Advisor Wrap program at Charles Schwab. Form ADV lists Pershing as the custodian holding at least 10% of separately managed-account assets.
Source: Part 2A brochure, Item 4; Schedule D, Section 5.K.(3)
Does Independent Financial Group earn commissions?
Its brochure states that many investment adviser representatives are also registered representatives who can offer commission-based products. Form ADV reports 513 broker-dealer representatives and 486 employees licensed as insurance agents.
Who owns Independent Financial Group?
Schedule A reports Independent Financial Group, Inc. as the direct owner in the 75% or more band. Schedule B reports the Fischer Family Trust - Revocable and the Heising Family Trust - Revocable as each holding the 25% to 50% band in that entity.
Answered from the filings above.
Sources
- Form ADV Part 1A, amendment filed 17 March 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
- Form ADV Part 2A brochure, dated 17 March 2026. Items 4, 5, 7, 12 and 15.
- IAPD firm record, CRD 7717, compiled 17 September 2026.
Retrieved 17 September 2026. All three are published by the SEC and may have been amended since. The logo is reproduced for identification from Independent Financial Group, website.
Report a correctionThis profile is compiled from public regulatory filings and is provided for informational purposes only. Simple Money is not affiliated with Independent Financial Group, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.