{
  "crd_number": 300139,
  "slug": "independence-square-holdings-llc-king-of-prussia-pa-300139",
  "primary_business_name": "INDEPENDENCE SQUARE HOLDINGS, LLC",
  "legal_name": "INDEPENDENCE SQUARE HOLDINGS, LLC",
  "dbas": [
    "BARNES LANE ADVISORS LLC",
    "BRENTON PRIVATE WEALTH ADVISORS",
    "BRENTON STRANSKY WEALTH MANAGEMENT",
    "INDEPENDENCE SQUARE ADVISORS",
    "INDEPENDENCE SQUARE ASSET MANAGEMENT",
    "MILANEK FAMILY WEALTH MANAGEMENT, LLC",
    "MULVANEY WEALTH MANAGEMENT",
    "SCHERZER FINANCIAL",
    "STRATAVEST",
    "THE PLAN ADVOCATE"
  ],
  "city": "King of Prussia",
  "state": "PA",
  "country": "United States",
  "cbsa_code": "37980",
  "metro": {
    "cbsa_code": "37980",
    "common_name": "Philadelphia",
    "msa_name": "Philadelphia-Camden-Wilmington, PA-NJ-DE-MD",
    "path": "/advisors/pa/philadelphia"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2019-06-07",
  "years_registered": 7,
  "period": "2026-10-01",
  "filing_date": "2026-03-06",
  "carried_forward": false,
  "raum_total": 1833978825.0,
  "raum_discretionary": 1833229303.0,
  "raum_non_discretionary": 749522.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 37,
  "advisory_employees": 37,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 5133042.0,
      "count": 7
    },
    "individuals": {
      "raum": 363215620.0,
      "count": 1541
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": null,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 11732667.0,
      "count": 13
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 1450597684.0,
      "count": 1080
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 3299812.0,
      "count": 7
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "commissions",
    "fixed",
    "hourly",
    "other",
    "percentage_of_aum",
    "performance_based",
    "subscription"
  ],
  "advisory_activities": [
    "financial_planning",
    "pension_consulting",
    "periodicals_newsletters",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 4,
  "states_registered": [
    "AZ",
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "IL",
    "IN",
    "LA",
    "MA",
    "MD",
    "MI",
    "MO",
    "NC",
    "NH",
    "NJ",
    "NV",
    "NY",
    "OH",
    "OR",
    "PA",
    "RI",
    "SC",
    "TX",
    "VA",
    "VT"
  ],
  "websites": [
    "https://brenton.advisor.cash",
    "https://brentonwealth.com",
    "https://indsquare.com",
    "https://linkedin.com/company/independence-square-ria",
    "https://scherzerfinancial.com",
    "https://stranskywm.com",
    "https://theplanadvocate.com",
    "https://twitter.com/indsquareinvest",
    "https://twitter.com/isqadvisors"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/300139",
  "disclosure_items": [
    {
      "item": "11.A(2)",
      "question": "In the past ten years, has the firm or an advisory affiliate been charged with a felony?"
    },
    {
      "item": "11.E(1)",
      "question": "Has a self-regulatory organization (such as FINRA) or a commodities exchange ever found that the firm or an advisory affiliate made a false statement or omission?"
    },
    {
      "item": "11.E(2)",
      "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?"
    },
    {
      "item": "11.E(4)",
      "question": "Has a self-regulatory organization or a commodities exchange ever disciplined the firm or an advisory affiliate by expelling or suspending it from membership, barring or suspending it from association with other members, or otherwise restricting its activities?"
    }
  ],
  "city_as_filed": "KING OF PRUSSIA",
  "url": "https://advisorcensus.com/firm/independence-square-holdings-llc-king-of-prussia-pa-300139",
  "display_name": "Independence Square Holdings, LLC",
  "summary": "Independence Square Holdings, LLC is an SEC-registered investment advisory firm in King of Prussia, PA, registered since 2019, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 6, 2026.",
  "citation": "AdvisorCensus. Independence Square Holdings, LLC (CRD 300139): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Subscription fees (for a newsletter or periodical)",
    "Fixed fees (other than subscription fees)",
    "Commissions",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Pension consulting services",
    "Selection of other advisers (including private fund managers)",
    "Publication of periodicals or newsletters"
  ],
  "quick_answers": [
    {
      "q": "How is Independence Square Holdings, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Independence Square Holdings, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; subscription fees (for a newsletter or periodical); fixed fees (other than subscription fees); commissions; performance-based fees; other."
    },
    {
      "q": "Where is Independence Square Holdings, LLC located?",
      "a": "Independence Square Holdings, LLC's principal office is in King of Prussia, PA, according to its Form ADV; the April 2026 filing also lists 8 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Independence Square Holdings, LLC registered with the SEC or a state?",
      "a": "Independence Square Holdings, LLC is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 300139."
    },
    {
      "q": "How much does Independence Square Holdings, LLC manage?",
      "a": "Independence Square Holdings, LLC reports $1,833,978,825 in regulatory assets under management in its Form ADV filing dated March 6, 2026 (100% discretionary)."
    },
    {
      "q": "How have Independence Square Holdings, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Independence Square Holdings, LLC: Regulatory assets under management: $686,793,614 in the October 2021 data and $1,833,978,825 in the October 2026 data, up 167%. Total employees: 40 in October 2021 and 37 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Independence Square Holdings, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,541); high net worth individuals (1,080); pension and profit sharing plans (but not the plan participants or government pension plans) (13)."
    },
    {
      "q": "Which custodians does Independence Square Holdings, LLC use?",
      "a": "Independence Square Holdings, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists LPL Financial LLC as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Independence Square Holdings, LLC report any disciplinary disclosures?",
      "a": "Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.A(2) (felony charge in the past ten years), 11.E(1) (self-regulatory organization's finding of a false statement or omission), 11.E(2) (self-regulatory organization's finding of a rule violation), and 11.E(4) (self-regulatory organization's expulsion, suspension, bar, or restriction). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/300139"
    },
    {
      "q": "What changed in Independence Square Holdings, LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $1,488,010,409 to $1,833,978,825 (+23%). Added an office in Baltimore, MD. Registered or notice-filed in RI, VT."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 686793614.0,
      "total_employees": 40,
      "filing_date": "2021-05-06"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 991006983.0,
      "total_employees": 41,
      "filing_date": "2022-07-14"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 926375464.0,
      "total_employees": 41,
      "filing_date": "2023-03-13"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1146643141.0,
      "total_employees": 40,
      "filing_date": "2024-03-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1488010409.0,
      "total_employees": 37,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1833978825.0,
      "total_employees": 37,
      "filing_date": "2026-03-06"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $1,488,010,409 to $1,833,978,825 (+23%).",
        "Added an office in Baltimore, MD.",
        "Registered or notice-filed in RI, VT."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "No longer registered or notice-filed in KY, TN."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "LPL Financial LLC",
      "name_as_filed": "LPL FINANCIAL LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/independence-square-holdings-llc-king-of-prussia-pa-300139.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 1541,
      "fewer_than_5": false,
      "raum": 363215620.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 1080,
      "fewer_than_5": false,
      "raum": 1450597684.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 13,
      "fewer_than_5": false,
      "raum": 11732667.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 7,
      "fewer_than_5": false,
      "raum": 5133042.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 7,
      "fewer_than_5": false,
      "raum": 3299812.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports 4 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/300139",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}