Independent Portfolio Consultants, Inc. (Boca Raton)

Name: Independent Portfolio Consultants, Inc.
Address: 5002 T Rex Avenue, Boca Raton, FL, 33431
Telephone: 561-912-1040

Independent Portfolio Consultants, Inc. is a large advisory firm based in Boca Raton. It manages $2.05 billion of regulatory assets for 1,120 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 32 other states.

Independent Portfolio Consultants provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Independent Portfolio Consultants: assets under management

The assets under management (AUM) of Independent Portfolio Consultants, Inc. is $2.05 billion. The firm's AUM has grown by 943% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $378.26 million in discretionary accounts and $1.67 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.26 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.04 million.

Independent Portfolio Consultants has custody of $2.05 billion in cash and securities for 500 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Independent Portfolio Consultants, Inc. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

Careers at Independent Portfolio Consultants, Inc.

The company employs 15 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.

There’s a single person 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.

Alan Dean Bush has been acting as President since 1 Nov 2001. Michael Andrew Fleming joined the executive team most recently as the Chief Executive Officer, Director & Cco.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Robert Koburger	Vice president & director	1 Nov 2001	25% - 50%	870692
Inc. Advest Group	Parent company	1 Nov 2001	75% - 100%	06-0950444
Alan Dean Bush	President/director	1 Nov 2001	Other	36885
Allan Mark Fink	Director	1 Nov 2001	Other	207782
Frederick Samuel Joyce	Treasurer/secretary/director	1 Nov 2001	Other	1192356
Lee Gerard Kuckro	Director	1 Nov 2001	Other	1367573
Daniel Joseph Mullane	Chief executive officer/director	1 Nov 2001	Other	1246435
Donna Lee Sawan	Director	1 Nov 2001	Other	1615720
David Michael Somers	Assistant secretary	1 Nov 2001	Other	4413478
Jr. Frederick Samuel Joyce	Treasurer/secretary/director	1 Nov 2001	Other	1192356
David Michael Somers Ii	Assistant secretary	1 Nov 2001	Other	4413478
Jason Howard Diamond	Director	1 Oct 2003	Other	2320884
Alan Dean Bush	Chief executive officer, president & director	1 Feb 2005	50% - 75%	36885
Jr. Frederick Samuel Joyce	Chief compliance officer,treasurer, secretary & director	1 Feb 2005	25% - 50%	1192356
Daniel Joseph Mullane	Chairman, director	1 Feb 2005	Other	1246435
John David Motherwell	National sales manager	1 Jan 2015	Other	6461968
Arun Kaul	Executive vice president & chief investment officer	1 Apr 2015	Other	5072317
Michael Andrew Fleming	Co-chief executive officer	1 Apr 2016	Other	2151752
Ronald Allan Potts	Chairman, board of directors	1 Aug 2016	Other	1090203
Jean Francois Welch	Board member	1 Aug 2016	Other	6707909
Michael K.C. Halliday	Board member	1 Aug 2016	Other	6707912
Jr. Frederick Samuel Joyce	Chief compliance officer,treasurer, secretary & executive vice president	1 Aug 2016	25% - 50%	1192356
David Robert Koburger	Vice president	1 Aug 2016	25% - 50%	870692
Michael Andrew Fleming	Co-chief executive officer & director	1 Aug 2016	Other	2151752
Alan Dean Bush	Vice chairman	1 Oct 2016	50% - 75%	36885
Arun Kaul	President & chief operating officer & chief investment officer	1 Oct 2016	Other	5072317
Michael Andrew Fleming	Chief executive officer & director	1 Oct 2016	Other	2151752
Katherine Jeanette Cathcart	Director of concierge services	1 Dec 2016	Other	2343349
Matthew Ashley Swendiman	Chief compliance officer	1 Mar 2017	Other	2849367
Michael Andrew Fleming	Chief executive officer, director & cco	1 Aug 2017	Other	2151752

Indirect Owners

The SEC currently registers 5 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. The Mony Group	Holding company	1 Nov 2001	75% - 100%	13-3976138
Axa	Holding company	1 Jul 2004	75% - 100%	00-0000000
Inc. Axa Financial	Holding company	1 Jul 2004	75% - 100%	13-3623351
Pierce Fenner & Smith Incorporated Merrill Lynch	Parent of advest group, inc.	1 Dec 2005	75% - 100%	7691
Inc. Merrill Lynch & Co.	Parent of merrill lynch, pierce, fenner & smith incorporated	1 Dec 2005	75% - 100%	13-2740599

Based in Boca Raton

The principal office where Independent Portfolio Consultants, Inc. performs its advisory services is located at 5002 T Rex Avenue, Boca Raton, FL 33431, 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 561-912-1040 or by fax 561-912-1090. The normal business hours are 8:30 to 5:00 on Monday - Friday. You can find more information about the New York firm at blueshores.com.