Innovative Financial Solutions NJ provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, business succession planning, education planning, estate planning, insurance, and philanthropic planning. Financial planning was provided to 251–500 clients last fiscal year.
Innovative Financial Solutions NJ reports 325 clients. They include 198 individual clients, 109 high-net-worth individuals, and 13 corporations and other businesses. Of its assets, 100.0% ($595M across 1,050 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $595M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 61% | 13% |
| High-net-worth individuals | 34% | 79% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | <1% | <1% |
| Corporations and other businesses | 4% | 6% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 198 | $78.4M | 13.2% | $396K |
| High-net-worth individuals | 109 | $472M | 79.4% | $4.33M |
| Pension and profit-sharing plans | Fewer than 5 | $5.41M | 0.9% | $1.8M |
| Charitable organizations | Fewer than 5 | $4.44M | 0.7% | $2.22M |
| Corporations and other businesses | 13 | $34.4M | 5.8% | $2.65M |
| Total | 325 | $595M | 100% | — |
- Clients
- 198
- Regulatory AUM
- $78.4M
- AUM share
- 13.2%
- Avg. per client
- $396K
- Clients
- 109
- Regulatory AUM
- $472M
- AUM share
- 79.4%
- Avg. per client
- $4.33M
- Clients
- Fewer than 5
- Regulatory AUM
- $5.41M
- AUM share
- 0.9%
- Avg. per client
- $1.8M
- Clients
- Fewer than 5
- Regulatory AUM
- $4.44M
- AUM share
- 0.7%
- Avg. per client
- $2.22M
- Clients
- 13
- Regulatory AUM
- $34.4M
- AUM share
- 5.8%
- Avg. per client
- $2.65M
Total
- Clients
- 325
- Regulatory AUM
- $595M
- 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
- 251–500
Innovative Financial Solutions NJ is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Wealth Management Consulting
- Clients may pay an annual fee for ongoing services, a flat fee, or an hourly rate not to exceed $500, negotiable with the advisor.
Innovative Financial Solutions NJ, LLC owns 75% or more of Innovative Financial Solutions NJ and is in turn owned by Devang Patel (75% or more). The leadership team of Innovative Financial Solutions NJ includes Chief Compliance Officer Devang Patel. It has 6 employees, 4 of them in advisory roles.
Leadership
- Devang PatelMember, Chief Compliance Officer
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
- Hirbod Azmi
- Devang M. Patel
- Dorota Warchol
Staff
- 6 employees
- 4 in advisory functions
- 3 state-registered reps
- 3 insurance agents
- Owns 75% or more of Innovative Financial Solutions NJ, LLC
Innovative Financial Solutions NJ,
Control person · since July 2024
- Owns 75% or more of Innovative Financial Solutions NJ, LLC
Devang Patel
Control person · since December 2016
Innovative Financial Solutions NJ’s regulatory assets grew from $501M (March 2025) to $595M (March 2026); clients were 325 in both filings and employees were 6 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $595M | 325 | 6 | 1 |
| March 2025 | $501M | 318 | 6 | 2 |
Besides its headquarters, Innovative Financial Solutions NJ has 0 offices, with 1 listed address in New Jersey.
New Jersey · 1 listed address
- 517 Centennial Avenue, Suite 200, CranfordHQ
Contact and registration details
- Legal name
- Innovative Financial Solutions NJ, LLC
- Headquarters
- 517 Centennial Avenue, Suite 200, Cranford, NJ 07016
- Website
- virtuswealthsolutions.com
- Phone
- 908-967-6360
- @virtusws
- SEC file
- 801-130985
- Founded
- 2002
- Structure
- Delaware LLC
- Fiscal year end
- December
Innovative Financial Solutions NJ uses Fidelity ($595M) as custodian for its separately managed accounts. Innovative Financial Solutions NJ has custody of $91.1M in client assets for 45 clients.
- FidelityNational Financial Services LLC · Boston, MA · $595M100%
At year end, Innovative Financial Solutions NJ’s separately managed accounts were mostly in funds (64%) and stocks (31%). Its reported 13F holdings for the quarter ended 30 June 2026 total $735M across 53 positions; the largest are Advisorshares TR (13.1%), Advisorshares TR (10.3%) and Sandisk Corp. (8.0%).
What the accounts hold
- Stocks31%
- Funds64%
- Cash5%
Reported 13F holdings
- $735M
- Reported 13F value
- 53
- Positions
- 70.2%
- In the 10 largest
- +39.9%
- Value vs. prior quarter
- Advisorshares TR · Dorsy Fsm US13.1%
- Advisorshares TR · Dorsy Fsm Alcp10.3%
- Sandisk Corp.8.0%
- Astera Labs Inc.7.3%
- Invesco Qqq TR · Unit Ser 16.8%
- Dell Technologies Inc. · CL C6.7%
- Micron Technology Inc.6.0%
- Alphabet Inc. · Cap Stk CL A4.5%
- Nvidia Corporation3.9%
- Nebius Group N.V. · Shs Class A3.6%
Together, the ten largest are 70.2% of reported value.
How many clients does Innovative Financial Solutions NJ have?
Innovative Financial Solutions NJ has 325 clients and manages $595 million for them, as of March 2026. They include 198 individual clients, 109 high-net-worth individuals, and 13 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 13 March 2026
What services does Innovative Financial Solutions NJ offer?
Innovative Financial Solutions NJ provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, business succession planning, education planning, estate planning, insurance, and philanthropic planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
Which custodians does Innovative Financial Solutions NJ use?
Innovative Financial Solutions NJ’s separately managed account assets are held at National Financial Services LLC (Boston, MA), with $595M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 13 March 2026
How many financial advisors does Innovative Financial Solutions NJ have?
Innovative Financial Solutions NJ has 3 investment adviser representatives registered with state securities authorities, out of 6 employees, and 4 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 3 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 Financial Solutions NJ invest in?
At the end of its last fiscal year, Innovative Financial Solutions NJ’s separately managed accounts held 64% registered funds (mutual funds, ETFs, BDCs), 31% exchange-traded equities and 5% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Innovative Financial Solutions NJ?
Innovative Financial Solutions NJ is owned through a holding company by Devang Patel. Its direct owners are Innovative Financial Solutions NJ, LLC (75% or more) and Innovative Financial Solutions NJ (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 13 March 2026
How does Innovative Financial Solutions NJ get paid?
Innovative Financial Solutions NJ is paid through a percentage of assets under management, hourly charges and fixed fees. 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 Financial Solutions NJ?
Innovative Financial Solutions NJ’s main office is at 517 Centennial Avenue, Suite 200, Cranford, NJ 07016. Its phone number is 908-967-6360. Its website is virtuswealthsolutions.com.