Two advisory teams that previously operated under Commonwealth Financial Network have joined Independent Financial Partners (IFP), the Tampa, Florida-based hybrid RIA.
The additions managing approximately $400 million in combined assets are the latest advisors to jump ship since LPL Financial's acquisition of Commonwealth in March 2025. Recently, LPL began reducing back office staff in the former Commonwealth network.
Van Horn Financial Services, led by Graham Van Horn and based in Sioux Falls, South Dakota, and Severn Financial Advisors, a husband-and-wife team run by Stephen James and Carly James out of Annapolis, Maryland, are among four Commonwealth teams to join IFP so far in 2026. Together with earlier additions, IFP has added roughly $2.4 billion in assets under advisement this year alone.
"What differentiated IFP was the people," said Carly James, co-founder of Severn Financial Advisors. "They were transparent, accessible, and genuinely invested in helping us succeed."
For Van Horn, whose Sioux Falls practice has served clients in the Midwest for years, the appeal was IFP's hybrid model which allows advisors to operate as both registered investment advisors and broker-dealer representatives offering a structure that preserves firm identity while expanding capabilities.
"IFP's hybrid model gave us confidence we could preserve what makes our firm unique while gaining capabilities," said Graham Van Horn, president of Van Horn Financial Services in Sioux Falls, South Dakota.
The two teams bring IFP's total advisor count to 288 across 37 states, with total assets under advisement exceeding $21 billion. The firm, which operates as a hybrid RIA affiliated with LPL Financial, has positioned itself as a destination for advisor teams seeking back-office support and scale without sacrificing autonomy.
Chris Hamm, CEO and president of IFP, said the conversations driving advisor movement have shifted in tone.
"Conversations today are less about economics and more about partnership," he said, noting that advisors are increasingly weighing long-term cultural alignment alongside compensation when making affiliation decisions.
Bill Hamm, executive chairman of IFP, said the two newest teams reflect the caliber of advisor the firm targets.
"They represent the type of advisors we're proud to partner with," he said.
The addition of Van Horn Financial Services and Severn Financial Advisors follows a period of significant consolidation across independent broker-dealer networks a trend that analysts expect to continue as larger platforms pursue scale and advisors seek firms that prioritize support over size.
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