ADVERTORIAL
IFG : Built For Perpetual Growth With A Fresh Partnership Structure
NDEPENDENT FINANCIAL GROUP ( IFG ) HAS BUILT AN IMPRESSIVE TRACK record of growth during its 21 years of business . The San Diego-based firm has consistently topped Financial Advisor magazine ’ s annual ranking of the largest independent broker-dealers . For 2024 , IFG ranked 16th among nationwide firms , based upon gross revenue . With 650 independent financial professionals working in over 400 offices across the nation , IFG continues perfecting its winning formula . How has IFG been able to deliver such strong growth ? Why are advisors making IFG their go-to broker-dealer choice ? To uncover the answer , Financial Advisor chatted with David Fischer , IFG ’ s Co-Founder and CMO .
FA : Robust growth has driven IFG throughout its 21-year history . What factors have played a role in your firm ’ s expansion ?
Fischer : My partner Scott Heising and I started with a vision to break away from our firm , which at the time was a large independent network broker dealer . We decided to get away from that corporate feel and have fun again and really get the balance back in our lives . For us , it was not so much about going after the bodies or the numbers , but to go after the quality advisors and the bigger producers around the country . We wanted to maintain this kind of small family feel , and we ’ ve done that . We welcome partners and kids at our conference , and host family-friendly activities and speakers . We now have , according to your magazine , the sixth highest average production in the country based on overall average production per rep .
FA : What makes IFG an attractive platform for advisors who want to manage and grow their practices ?
Fischer : Advisors are attracted to success and it ’ s apparent that our culture is the driving force behind our advisors ’ success , so when they see that , they too want to be a part of it . Our advisors are able to learn from one another , helping each other grow their businesses . Not having 20,000 advisors around the country , but rather 650 that are the best in the business who are supported by a firm that believes in true independence is what makes IFG attractive . For example , we don ’ t have anything proprietary here , it ’ s the advisor ’ s choice . We believe in commission business and in advisory business , and we ’ ve done it with a superior service model that has played an instrumental part in our success . We have also created the best back office in the business . When advisors call the office , they get a familiar voice instead of the typical call center experience that is common in the independent space .
FA : Is there a certain type of advisor or RIA that might be especially compatible or an ideal candidate for working with IFG ?
Fischer : We ’ ve got specialists out there , we ’ ve got financial planners , we ’ ve got RIAs , and transactional advisors . IFG has the infrastructure for every product area , and every service area is covered with an in-house specialist from variable and fixed annuities , advisory , alternative investments , and the list goes on . In the last 38 years of my career , I ’ ve learned what a back office needs to have to support best-in-class advisors . This is why advisors are attracted to us . FA : How are IFG ’ s advisors paid ? Fischer : Well , they ’ re compensated like every other independent broker dealer . They ’ re 1099 independent contractors , so they get paid twice a month .
Whether it ’ s commissions or fees , we have some of the most competitive rates and low fees in the industry .
FA : Tell us more about the products , services and technology that IFG offers to advisors .
Fischer : Our back office is here to support our advisors . We have all the necessities that you would need in broker dealer technology . We have partnered with an amazing line-up of technology providers and because of that , we are able to offer anything from a CRM , a data aggregation system , DocuSign , and a commission / fee system . These partnerships give us a competitive economic advantage which has allowed us to build a complete and integrated infrastructure for a great tech stack to support our advisors to process and grow their business .
David Fischer presenting at the IFG National Conference .
FA : What cities or regions do you see as opportunities for IFG to expand ?
Fischer : We have clients in all 50 states and 400 plus offices in 40 states , as well as Puerto Rico . We open the doors early to provide service to our East Coast reps , typically at 6:30am PACIFIC , and we stay open until 5pm PACIFIC . Our business hours are great for anybody around the country . Since we ’ re based in San Diego , it seems like geographically we have a lot of folks in California . However , we ’ ve also got big pockets in Washington and Oregon , and Texas is probably our third or fourth biggest state . We ’ re equipped to service advisors wherever they ’ re at . Every city is an opportunity for IFG if the partnership is right . FA : Looking ahead , what are IFG ’ s organizational goals ? Fischer : Our true goal is to be a perpetual company , and that means we want Independent Financial Group to last forever . Later this year we are implementing a new rep stock ownership program via a LP partnership vehicle . Additionally , we are introducing an employee stock ownership plan which will serve as a further incentive to compensate and gain loyalty from our employees . This will be in a similar LP partnership entity . We are excited about these programs and will continue to invest in IFG to make us the best broker dealer in the country .
OCTOBER 2024 | FINANCIAL ADVISOR MAGAZINE | 39