Independence Financial Advisors provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions. Financial planning was provided to 1,000 clients last fiscal year.
Independence Financial Advisors reports 2,777 clients. They include 2,695 individual clients, 39 high-net-worth individuals, and 32 corporations and other businesses. Of its assets, 93.6% ($434M across 2,772 accounts) are managed with discretion; $29.9M across 293 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 97% | 69% |
| High-net-worth individuals | 1% | 18% |
| Pension and profit-sharing plans | <1% | 6% |
| State or municipal government entities | <1% | 2% |
| Corporations and other businesses | 1% | 4% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 2,695 | $322M | 69.4% | $119K |
| High-net-worth individuals | 39 | $84.6M | 18.2% | $2.17M |
| Pension and profit-sharing plans | 5 | $29.9M | 6.4% | $5.98M |
| State or municipal government entities | 6 | $8.95M | 1.9% | $1.49M |
| Corporations and other businesses | 32 | $18.3M | 4.0% | $573K |
| Total | 2,777 | $464M | 100% | $167K |
- Clients
- 2,695
- Regulatory AUM
- $322M
- AUM share
- 69.4%
- Avg. per client
- $119K
- Clients
- 39
- Regulatory AUM
- $84.6M
- AUM share
- 18.2%
- Avg. per client
- $2.17M
- Clients
- 5
- Regulatory AUM
- $29.9M
- AUM share
- 6.4%
- Avg. per client
- $5.98M
- Clients
- 6
- Regulatory AUM
- $8.95M
- AUM share
- 1.9%
- Avg. per client
- $1.49M
- Clients
- 32
- Regulatory AUM
- $18.3M
- AUM share
- 4.0%
- Avg. per client
- $573K
Total
- Clients
- 2,777
- Regulatory AUM
- $464M
- AUM share
- 100%
- Avg. per client
- $167K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1000
Independence Financial Advisors is paid through a percentage of assets under management, hourly charges and other compensation. The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure.
Franklin Savings Bank owns 75% or more of Independence Financial Advisors. The leadership team of Independence Financial Advisors includes President Paul Gatehouse and Chief Compliance Officer Michael Ventura. It has 11 employees, 7 of them in advisory roles.
Staff
- 11 employees
- 7 in advisory functions
- 6 state-registered reps
- 7 insurance agents
- Owns 75% or more of Independence Financial Advisors, LLC
Franklin Savings Bank
Control person · since December 2010
Independence Financial Advisors’ regulatory assets grew 1.8× from $261M (December 2020) to $464M (December 2025); clients rose from 1,752 to 2,777 and employees from 10 to 11.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Dec 2025December 2025 | $464M | 2,777 | 11 | 8 |
| Dec 2024December 2024 | $433M | 2,732 | 11 | 9 |
| Jan 2024January 2024 | $349M | 2,578 | 10 | 9 |
| Jan 2023January 2023 | $330M | 2,337 | 10 | 9 |
| Dec 2021December 2021 | $331M | 2,115 | 10 | 8 |
| Dec 2020December 2020 | $261M | 1,752 | 10 | 8 |
Besides its headquarters, Independence Financial Advisors has 7 offices, with 8 listed addresses in 1 state.
New Hampshire · 8 listed addresses
- 402 Central Street, FranklinHQ
- 585 Mast Road, Manchester
- 59 South Maine Street, Rochester
- 1 Dobson Way, Merrimack
- 350 Lake Street, Bristol
- 11 Sawmill Road, Gilford
- 139 King Street, Boscawen
- 67 Laconia Road, Tilton
Contact and registration details
- Legal name
- Independence Financial Advisors, LLC
- Headquarters
- 402 Central Street, Franklin, NH 03235
- Website
- ifa-nh.com
- Phone
- 603-934-4445
- SEC file
- 801-81025
- Structure
- New Hampshire LLC
- Fiscal year end
- September
Independence Financial Advisors’ named custodians for separately managed accounts are Fidelity ($297M, 85%) and Charles Schwab ($52.5M, 15%). Independence Financial Advisors does not have custody of client assets.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $297M85%
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $52.5M15%
At year end, Independence Financial Advisors’ separately managed accounts were mostly in stocks (85%). Its reported 13F holdings for the quarter ended 30 June 2026 total $386M across 55 positions; the largest are Fidelity Covington Trust (15.2%), Fidelity Covington Trust (10.5%) and Fidelity Covington Trust (7.0%).
What the accounts hold
- Stocks85%
- Exchange-traded equities84%
- Non-exchange-traded equities1%
- Funds6%
- Bonds4%
- U.S. government and agency bonds1%
- State and local bonds1%
- Investment grade corporate bonds1%
- High-yield corporate bonds1%
- Cash5%
How many clients does Independence Financial Advisors have?
Independence Financial Advisors has 2,777 clients and manages $464 million for them, as of December 2025. They include 2,695 individual clients, 39 high-net-worth individuals, and 32 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 19 December 2025
What services does Independence Financial Advisors offer?
Independence Financial Advisors provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Independence Financial Advisors use?
Independence Financial Advisors’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $297M and Charles Schwab & Co., Inc. (Westlake, TX), with $52.5M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 19 December 2025
How many financial advisors does Independence Financial Advisors have?
Independence Financial Advisors has 6 investment adviser representatives registered with state securities authorities, out of 11 employees, and 7 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 7 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Independence Financial Advisors invest in?
At the end of its last fiscal year, Independence Financial Advisors’ separately managed accounts held 84% exchange-traded equities, 6% registered funds (mutual funds, ETFs, BDCs), 5% cash and equivalents, 1% non-exchange-traded equities, 1% U.S. government and agency bonds, 1% state and local bonds, 1% investment grade corporate bonds and 1% high-yield corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Independence Financial Advisors?
Independence Financial Advisors’ direct owner is Franklin Savings Bank (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 19 December 2025
How does Independence Financial Advisors get paid?
Independence Financial Advisors is paid through a percentage of assets under management, hourly charges and other compensation. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Independence Financial Advisors?
Independence Financial Advisors’ main office is at 402 Central Street, Franklin, NH 03235. Its phone number is 603-934-4445. Its website is ifa-nh.com.