Independence Advisors, LLC (Wayne)

Name: Independence Advisors, LLC
Address: 620 Lee Road, Wayne, PA, 19087 5636
Telephone: 610-695-8070

Independence Advisors, LLC is a large advisory firm based in Wayne. It manages $923.16 million of regulatory assets for 1,356 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of California, Delaware, Florida, and 9 other states.

Independence Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and consulting. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Independence Advisors: assets under management

The assets under management (AUM) of Independence Advisors, LLC is $923.16 million. The firm's AUM has grown by 180% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $921.1 million in discretionary accounts and $2.06 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $679.78 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.06 million.

Independence Advisors has custody of $41.92 million in cash and securities for 52 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 63% of the total AUM. The second-largest asset type is exchange traded securities, which make up 33% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Independence Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Independence Advisors serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Independence Advisors is high net worth individuals with 188 clients and $789.64 million of assets under management. Among the 9 most similar advisory firms, Independence Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $917.43 million for 341 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Independence Advisors doesn't advise any private funds.

Careers at Independence Advisors, LLC

The company employs 10 people that are either part- or full-time employees. 90 percent of the employees work as investment advisers or researchers. 9 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Charles Philip Boinske	Managing member, president	1 Mar 2010	75% - 100%	1295580
Barbara Ann Richardson	Member, chief compliance officer	1 Mar 2010	Other	2229290

Based in Wayne

The principal office where Independence Advisors, LLC performs its advisory services is located at 620 Lee Road, Wayne, PA 19087 5636, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 610-695-8070 or by fax 610-695-8073. The normal business hours are 8:30 a.m. - 5 p.m. on Monday - Friday. You can find more information about the New York firm at independenceadvisors.com.