{"url":"https://nivawealth.com/firms/independent-wealth-management-124242","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/124242","regulatoryAum":203006142,"crd":"124242","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"2433529","suffix":null,"lastName":"BERGER","firstName":"JAY","middleName":"BRANT"},{"crd":"2910130","suffix":null,"lastName":"FISHER","firstName":"STEPHEN","middleName":"MICHAEL"},{"crd":"2148253","suffix":null,"lastName":"HACKNEY","firstName":"SCOTT","middleName":"C"}],"total":3,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2021-05-14","regulatoryAum":123951189,"clients":163,"employees":5,"offices":1},{"filedOn":"2022-01-25","regulatoryAum":153095522,"clients":173,"employees":5,"offices":1},{"filedOn":"2023-01-16","regulatoryAum":139188444,"clients":182,"employees":5,"offices":1},{"filedOn":"2024-01-28","regulatoryAum":161682179,"clients":184,"employees":5,"offices":1},{"filedOn":"2025-01-29","regulatoryAum":175368687,"clients":181,"employees":5,"offices":1},{"filedOn":"2026-05-21","regulatoryAum":203006142,"clients":176,"employees":3,"offices":1}],"secFileNumber":"801-120528","legalName":"Independent Wealth Management, LLC","displayName":"Independent Wealth Management","slug":"independent-wealth-management-124242","website":"https://iwmusa.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"Michigan limited liability company","fiscalYearEnd":"December","headquarters":{"street":"236 1/2 E. Front St","city":"Traverse City","state":"MI","stateName":"Michigan","country":"United States","postalCode":"49684"},"tradeNames":[],"registration":{"secApproved":"16 March 2021","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":1151118.75,"staff":{"employees":3,"advisory":3,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":203006142,"discretionary":183700370,"discretionaryAccounts":503,"nonDiscretionary":19305772,"nonDiscretionaryAccounts":7,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":10},"clientTypes":[{"label":"Individuals (other than HNW)","clients":115,"regulatoryAum":47276006},{"label":"High-net-worth individuals","clients":61,"regulatoryAum":155320894},{"label":"Charitable organizations","clients":null,"fewerThan5":true,"regulatoryAum":409242}],"feePrograms":[{"role":"other","program":"Advice and Reporting Services","summary":"Advice on holdings not managed is charged separately at no more than 1.00% a year, or aggregated into the tiered management fee.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1045851","versionId":1045851,"submittedOn":"2026-05-21","documentName":"INDEPENDENT WEALTH MANAGEMENT, LLC FOR ADV, PART 2A."},{"role":"other","program":"Financial Plans","summary":"Financial plans are billed at a blended hourly rate of $175 to $350, plus a $40 per hour administrative fee.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1045851","versionId":1045851,"submittedOn":"2026-05-21","documentName":"INDEPENDENT WEALTH MANAGEMENT, LLC FOR ADV, PART 2A."},{"role":"other","program":"Limited Consultations","summary":"Limited consultations are billed at $175 an hour, plus a $40 to $70 per hour administrative fee.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1045851","versionId":1045851,"submittedOn":"2026-05-21","documentName":"INDEPENDENT WEALTH MANAGEMENT, LLC FOR ADV, PART 2A."}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed_no_numerical_schedule","checkedAt":"2026-10-22T12:43:07.819122+00:00","documents":[{"name":"INDEPENDENT WEALTH MANAGEMENT, LLC FOR ADV, PART 2A.","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1045851","versionId":1045851,"submittedOn":"2026-05-21"},{"name":null,"status":"not_downloaded","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=939072","versionId":939072,"submittedOn":null}]},"custodians":[{"name":"National Financial Services LLC","shortName":"Fidelity","location":"Boston, MA","smaAssets":198321173}],"custodyNote":"Independent Wealth Management does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Scott Hackney","title":"Member, Chief Compliance Officer","crd":"2148253"},{"name":"Jay Berger","title":"Member","crd":"2433529"},{"name":"Stephen Fisher","title":"Managing Member","crd":"2910130"}],"ownership":[{"label":"Stephen Fisher","detail":"Managing member in the 25% to 50% ownership band and a control person, since March 1998."},{"label":"Jay Berger","detail":"Member in the 25% to 50% ownership band and a control person, since February 2010."},{"label":"Scott Hackney","detail":"Member, chief compliance officer in the 25% to 50% ownership band and a control person, since January 2009."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Michigan","offices":1,"addresses":[{"street":"236 1/2 E. Front St","city":"Traverse City","headquarters":true}]}],"brochureServices":["education planning","estate planning","insurance","retirement plan services","tax planning","tax preparation"],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"231-929-1086","stateRegisteredReps":3,"otherAdviserReps":1,"compensation":["A percentage of assets under management","Hourly charges","Fixed fees (other than subscription fees)","Other"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Portfolio management for businesses (other than small businesses) or institutional clients","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"101-250","assetMix":[{"label":"Exchange-traded equity securities","percent":14},{"label":"U.S. government/agency bonds","percent":3},{"label":"U.S. state and local bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":70},{"label":"Cash and cash equivalents","percent":11}],"privateFunds":0},"sources":{"adv1FilingDate":"21 May 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/124242/PDF/124242.pdf","brochureDate":"21 May 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1045851","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Independent Wealth Management have?","answer":"Independent Wealth Management has 176 clients and manages $203 million for them, as of May 2026. They include 115 individual clients and 61 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 21 May 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Independent Wealth Management offer?","answer":"Independent Wealth Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, education planning, estate planning, insurance, retirement plan services, tax planning, and tax preparation.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Independent Wealth Management use?","answer":"Independent Wealth Management’s separately managed account assets are held at National Financial Services LLC (Boston, MA), with $198M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 21 May 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Independent Wealth Management have?","answer":"Independent Wealth Management has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Independent Wealth Management invest in?","answer":"At the end of its last fiscal year, Independent Wealth Management’s separately managed accounts held 70% registered funds (mutual funds, ETFs, BDCs), 14% exchange-traded equities, 11% cash and equivalents, 3% U.S. government and agency bonds and 1% state and local bonds.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Independent Wealth Management?","answer":"Independent Wealth Management’s direct owners are Stephen Fisher, Jay Berger and Scott Hackney, each holding 50% or less.","source":"Form ADV Part 1A, Schedules A and B, filed 21 May 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Independent Wealth Management get paid?","answer":"Independent Wealth Management is paid through a percentage of assets under management, hourly charges, fixed fees 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Independent Wealth Management?","answer":"Independent Wealth Management’s main office is at 236 1/2 E. Front St, Traverse City, MI 49684. Its phone number is 231-929-1086. Its website is iwmusa.com.","source":"Form ADV Part 1A, Item 1.F, filed 21 May 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}