Independent Solutions Wealth Management, LLC (Williamsville)

Name: Independent Solutions Wealth Management, LLC
Address: 305 Spindrift Drive, Williamsville, NY, 14221
Telephone: 716-568-8566

Independent Solutions Wealth Management, LLC is a large advisory firm based in Williamsville. It manages $357.5 million of regulatory assets for 2,859 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Arizona, California, Colorado, and 18 other states.

Independent Solutions Wealth Management provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Independent Solutions Wealth Management: assets under management

The assets under management (AUM) of Independent Solutions Wealth Management, LLC is $357.5 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 1293% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $357.5 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $125.04 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 52% of the total AUM. The second-largest asset type is exchange traded securities, which make up 44% 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 Independent Solutions Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Independent Solutions Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Independent Solutions Wealth Management is individuals with 2,106 clients and $275.51 million of assets under management. Among the 8 most similar advisory firms, Independent Solutions Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $357.5 million for 2,170 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.

Independent Solutions Wealth Management doesn't advise any private funds.

Careers at Independent Solutions Wealth Management, LLC

The company employs 26 people that are either part- or full-time employees. 85 percent of the employees work as investment advisers or researchers. 22 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone 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.

Harvey Neiman has served as the Chief Investment Officer since 1 Sep 2011. Daniel David Neiman joined the executive team most recently as the Managing Member/Chief Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Glenn Charles Wiggle	Managing member/chief compliance officer	1 Aug 2007	25% - 50%	2730675
Michael Steven Lomas	Managing member	1 Aug 2007	25% - 50%	2672193
Jay Robert Blanchard	Member	1 Aug 2007	25% - 50%	4501494
Joshua Burch Heims	Manager	1 Aug 2007	25% - 50%	4676576
Harvey Neiman	Chief investment officer	1 Sep 2011	Other	2368983
Daniel David Neiman	Managing member/chief financial officer	1 Jan 2013	Other	4649480

Based in Williamsville

The principal office where Independent Solutions Wealth Management, LLC performs its advisory services is located at 305 Spindrift Drive, Williamsville, NY 14221, 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 716-568-8566 or by fax 716-633-1333. The normal business hours are 9am-5pm on Monday - Friday. You can find more information about the New York firm at iswealthmanagement.com.