Independence Financial Advisors, LLC

Independence Financial Advisors primarily serves individual clients, including high‑net‑worth households, and offers separately managed account portfolio management and financial planning services; it also advises a small number of pension and profit‑sharing plans and charitable organizations. The firm manages assets on both discretionary and non‑discretionary bases and places most client assets into pro‑active asset allocation portfolios.

The firm implements a set of defined model allocations (Aggressive Growth, Growth, Balanced, Income with Growth, Income Plus, and Income) and selects securities from an internal “approved list,” with client objectives and risk tolerance determined through financial planning and risk‑assessment software. Independence conducts regular account reviews and generally manages portfolios on a discretionary basis while permitting client‑imposed restrictions, such as “do not sell” instructions.

Distinctive aspects include its ownership by Franklin Savings Bank and a formal referral relationship with the bank, a directed‑brokerage practice that typically requires clients to open accounts at Fidelity (with some clients using Schwab), and an uncommon multi‑office team serving a relatively large client base—2,734 clients supported by seven advisors, producing a high client‑per‑advisor ratio. Several of the firm’s investment adviser representatives are also licensed insurance agents and may receive commissions for insurance sales (with disclosed conflicts and varying time commitments), a practice the firm discloses and addresses in its policies.