IFP Adds Two Former Commonwealth Firms With More Than $400M in AUA

Independent Financial Partners has recruited Van Horn Financial Services and Severn Financial Advisors, adding more than $400 million in client assets from two practices previously affiliated with Commonwealth Financial Network.

The additions bring IFP’s total recruitment from Commonwealth to four teams comprising 10 advisors and approximately $1.2 billion in client assets.

Van Horn Financial Services is based in Sioux Falls, South Dakota, and led by President Graham Van Horn. The firm provides wealth management and income-preservation strategies to individuals, business owners, and corporate executives. Annapolis, Maryland-based Severn Financial Advisors is led by Stephen James and Carly James.

The moves come as Commonwealth advisors prepare to transition to LPL Financial’s platform. LPL completed its $2.7 billion acquisition of Commonwealth on Aug. 1, 2025, when the firm supported about 3,000 advisors managing approximately $305 billion. The platform conversion is expected to conclude during the fourth quarter of 2026.

“The conversations we’re having with advisors today are less about economics and more about partnership,” said Chris Hamm, IFP’s CEO and president.

Hamm said advisors are seeking flexibility, transparency and support while retaining control over how they serve clients.

IFP operates an open-architecture platform that allows advisors to select custodians, technology and business solutions based on their practices and growth plans.

The Tampa, Florida-based firm supports 288 advisors across 37 states and oversees more than $21 billion in assets under advisement, up from approximately $5 billion seven years ago.

IFP said it has recruited approximately $2.4 billion in assets during 2026. Its Commonwealth additions represent half that amount, illustrating how LPL’s acquisition has created recruiting opportunities for competing independent platforms.