Independent Financial Advisors

What Independent Financial Advisors does

Independent Financial Advisors (Independent Financial Advisory, LLC) is a privately-held independent registered investment advisor founded in August 2012 by David Kelton and headquartered in Livonia, Michigan. The firm operates with an 8-person team including credentialed advisors (CFP, CPA, CDFA, RICP designations) and delivers wealth management, comprehensive financial planning, and corporate retirement plan services to individual investors, families, and small business clients, with stated emphasis on multi-generational client relationships. All securities and advisory services are delivered through LPL Financial's broker-dealer and RIA platform, with no proprietary technology stack and no proprietary AI/ML capabilities; the firm relies on LPL's research feed and account management systems for investment operations.

The firm's revenue model is based on advisory fees tied to assets under management, with quote-based pricing on a not-publicly-disclosed basis, supplemented by corporate retirement plan fees. Customer acquisition is referral-driven and supported by community involvement and client appreciation events, with no paid advertising or formal outbound sales motion. The firm holds no external investment, has no parent company, and has never raised capital, operating entirely as founder-led and owner-operated. Recognition includes LPL Financial Chairman's Council membership (sustained since 2013), Ameriprise Chairman's Advisory Council tenure (2004-2012, prior to founding), and the Five Star Wealth Manager Award (2012), reflecting production-based credibility rather than growth-stage momentum.

Name

Independent Financial Advisors

Legal name

Independent Financial Advisory, LLC

Website

https://ifaadvisors.com

Company type

Private

Founded year

2012

Operating status

Operating

Short description

Independent Financial Advisors is a privately-held RIA in Livonia, Michigan, founded in 2012 by David Kelton. The 8-person team delivers wealth management, financial planning, and corporate retirement plan services to individuals, families, and small businesses via the LPL Financial platform.

Ownership category

akta.pro rank

Product category

Wealth Management & Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Comprehensive/Full-Service RIAs & Independent Wealth Managers (FSAAACAA)

akta.pro secondary industry

Fee-Only Advisory (FSAEAAAL)

Keywords

• Financial advisory services
• Wealth management
• Retirement planning
• Investment management
• Financial planning

Headquarters

HQ city

Livonia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Wealth Management Services: The firm provides comprehensive wealth management including asset management, financial planning, and retirement planning services. Revenue is generated through advisory fees, likely based on assets under management (AUM), with services offered through LPL Financial's registered investment advisor platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Independent Financial Advisors is a registered investment advisory firm providing personalized financial planning, wealth management, and corporate retirement plan services to individual investors, families, and businesses primarily in Michigan. The firm delivers goal-based financial planning, asset management with tax-sensitive investment strategies, and 401(k)/403(b)/457 plan administration through the LPL Financial platform. Services are sold as customized, fee-based advisory engagements rather than packaged or self-serve products.

Product overview

Independent Financial Advisors offers a unified suite of financial advisory services organized around three core offerings: Comprehensive Financial Planning, Wealth Management, and Corporate Retirement Plans. The firm operates as a single integrated advisory practice rather than a modular software platform. These services are delivered through their team of wealth advisors and are supported by LPL Financial for securities and advisory services.

Differentiator

Problem solved

Functional benefit

Products and services

• Comprehensive Financial Planning Goal-based financial planning service that assists clients in managing, preserving, and growing wealth over time through goal planning, cash-flow analysis, college planning, insurance planning, and retirement planning, including strategies for 401(k), IRA, and Social Security. Designed for individuals and families seeking holistic financial guidance.
• Wealth Management Investment management service featuring specialized research capabilities to create versatile investment portfolios customized to client needs, risk tolerance, and goals. Includes asset management strategies, tax-sensitive investments, portfolio construction and monitoring, and access to LPL Financial's specialized portfolio research.
• Corporate Retirement Plans Retirement plan services for businesses covering plan document drafting, investment policy establishment, plan design, management, compliance, fiduciary guidance, fee analysis, and participant services for 401(k), 403(b), and 457 plans.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Edelman Financial Engines: Large national RIA combining traditional advisor-led wealth management with digital advice capabilities, serving individual investors and corporate retirement plans. Comparable service breadth but materially larger scale, diversified delivery model, and corporate backing.
• Edward Jones: Large national advisor-driven wealth management firm with a similar model of relationship-based financial planning serving individual investors and families. Operates a captive branch model rather than an independent RIA structure, but offers directly comparable services including retirement planning and corporate retirement plans.
• Ameriprise Financial: Larger established wealth management firm where founder David Kelton spent 33 years and earned Chairman's Advisory Council honors. Directly comparable in offering (financial planning, wealth management, retirement plans) but at vastly greater scale and as a public company with captive employee advisors rather than an independent RIA.
• Raymond James Financial: Major broker-dealer with a substantial independent advisor channel offering wealth management, financial planning, and retirement plan services similar to IFA. Provides custody, research, and platform infrastructure analogous to IFA's LPL relationship, but at an institutional scale.

Direct peers

• Commonwealth Financial Network: Independent broker-dealer and RIA platform supporting independent financial advisors with the same wealth management, financial planning, and corporate retirement plan offerings. Closest structural analog to IFA's independent RIA model operating on LPL's platform.
• Cetera Financial Group: Independent broker-dealer and RIA platform serving independent financial advisors with wealth management, retirement planning, and practice management support. Directly comparable business model and customer base to IFA's independent advisory practice.
• Ronald Blue Trust: Independent RIA offering comprehensive financial planning, investment management, and retirement planning for individuals and families using a fee-only advisory model. Similar size, advisor-driven structure, and fiduciary-only positioning to IFA.
• Mariner Wealth Advisors: Independent RIA offering comprehensive financial planning, wealth management, tax planning, and retirement plan services. Directly comparable in service mix and independent model, with an active acquisition strategy that makes it a potential acquirer of smaller RIAs like IFA.
• Creative Planning: Large independent RIA offering comprehensive financial planning, wealth management, and corporate retirement plan services to individuals and families. Operates with similar advisor-driven, fee-based model but at national scale and with proprietary technology.

Emerging players

• Northwest Quadrant Wealth Management: Independent RIA providing financial planning, wealth management, and retirement plan services with similar advisor-driven, relationship-based model. Comparable in scale and target market to IFA, with a geographic footprint in the Pacific Northwest rather than the Midwest.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Independent Financial Advisors