Innovative Advisory Partners provides financial planning, portfolio management for individuals and small businesses, selecting other managers, and educational seminars. Financial planning was provided to 11–25 clients last fiscal year.
Innovative Advisory Partners reports 443 clients. They include 390 individual clients, 52 high-net-worth individuals and 1 charitable organization. Of its assets, 97.5% ($343M across 1,173 accounts) are managed with discretion; $8.9M across 179 accounts are not. A wrap fee program the firm both sponsors and manages holds $280M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 88% | 19% |
| High-net-worth individuals | 12% | 81% |
| Charitable organizations | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 390 | $67M | 19.0% | $172K |
| High-net-worth individuals | 52 | $285M | 80.9% | $5.48M |
| Charitable organizations | Fewer than 5 | $100K | 0.0% | $100K |
| Total | 443 | $352M | 100% | — |
- Clients
- 390
- Regulatory AUM
- $67M
- AUM share
- 19.0%
- Avg. per client
- $172K
- Clients
- 52
- Regulatory AUM
- $285M
- AUM share
- 80.9%
- Avg. per client
- $5.48M
- Clients
- Fewer than 5
- Regulatory AUM
- $100K
- AUM share
- 0.0%
- Avg. per client
- $100K
Total
- Clients
- 443
- Regulatory AUM
- $352M
- AUM share
- 100%
- Avg. per client
- —
- 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
- 11–25
Innovative Advisory Partners is paid through a percentage of assets under management, hourly charges, fixed fees (other than subscription fees) and other compensation. A brochure was located, but its fee details could not be read. Read the SEC-filed brochure.
Franklin Wealth Management, LLC owns 75% or more of Innovative Advisory Partners and is in turn owned by Joe Franklin (75% or more). Joe Franklin is CEO. It has 8 employees, 6 of them in advisory roles.
Leadership
- Joe FranklinChief Compliance Officer / Chief Executive Officer
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
- Joe David Franklin
- Carolyn Ann Fryar
- Neill B Hatcher
- Charles Thomas Nicholson
- Samuel Carter Payne
- Logan Tyler Wingfield
Staff
- 8 employees
- 6 in advisory functions
- 6 state-registered reps
- 4 broker-dealer reps
- 6 insurance agents
- Owns 75% or more of Innovative Advisory Partners, LLC
Franklin Wealth Management, LLC
Control person · since July 2018
- Owns 75% or more of Franklin Wealth Management, LLC
Joe Franklin
Control person · since May 2010
Innovative Advisory Partners’ regulatory assets grew 2.5× from $143M (April 2021) to $352M (April 2026); clients fell from 707 to 443 and employees from 9 to 8.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $352M | 443 | 8 | 1 |
| April 2025 | $260M | 404 | 8 | 1 |
| March 2024 | $199M | 358 | 8 | 1 |
| March 2023 | $170M | 350 | 8 | 1 |
| March 2022 | $187M | 316 | 9 | 1 |
| April 2021 | $143M | 707 | 9 | 1 |
Besides its headquarters, Innovative Advisory Partners has 0 offices, with 1 listed address in Tennessee.
Tennessee · 1 listed address
- 4700 Hixson Pike, HixsonHQ
Other business names
Innovative Advisory Partners has reported 2 other business names to the SEC.
- Financial Educators Network of East Tennessee
- Franklin Wealth Management
Contact and registration details
- Legal name
- Innovative Advisory Partners, LLC
- Headquarters
- 4700 Hixson Pike, Hixson, TN 37343-4806
- Website
- Not reported
- Phone
- 423-870-2140
- SEC file
- 801-78600
- Structure
- Tennessee LLC
- Fiscal year end
- December
Innovative Advisory Partners uses Charles Schwab ($271M) as custodian for its separately managed accounts. Innovative Advisory Partners does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $271M100%
At year end, Innovative Advisory Partners’ separately managed accounts were mostly in stocks (50%) and cash (25%).
What the accounts hold
- Stocks50%
- Exchange-traded equities49%
- Non-exchange-traded equities1%
- Funds21%
- Bonds3%
- State and local bonds1%
- Investment grade corporate bonds1%
- High-yield corporate bonds1%
- Cash25%
- Other1%
- Derivatives1%
How many clients does Innovative Advisory Partners have?
Innovative Advisory Partners has 443 clients and manages $352 million for them, as of April 2026. They include 390 individual clients, 52 high-net-worth individuals and 1 charitable organization.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 6 April 2026
What services does Innovative Advisory Partners offer?
Innovative Advisory Partners provides financial planning, portfolio management for individuals and small businesses, selecting other managers, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Innovative Advisory Partners use?
Innovative Advisory Partners’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $271M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 6 April 2026
How many financial advisors does Innovative Advisory Partners have?
Innovative Advisory Partners has 6 investment adviser representatives registered with state securities authorities, out of 8 employees, and 6 perform investment advisory functions. 4 employees are registered representatives of a broker-dealer and 6 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 Innovative Advisory Partners invest in?
At the end of its last fiscal year, Innovative Advisory Partners’ separately managed accounts held 49% exchange-traded equities, 25% cash and equivalents, 21% registered funds (mutual funds, ETFs, BDCs), 1% non-exchange-traded equities, 1% state and local bonds, 1% investment grade corporate bonds, 1% high-yield corporate bonds and 1% derivatives.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Innovative Advisory Partners?
Innovative Advisory Partners is owned through a holding company by Joe Franklin. Its direct owner is Franklin Wealth Management, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 6 April 2026
How does Innovative Advisory Partners get paid?
Innovative Advisory Partners 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
How do I contact Innovative Advisory Partners?
Innovative Advisory Partners’ main office is at 4700 Hixson Pike, Hixson, TN 37343-4806. Its phone number is 423-870-2140.