# Independent Franchise Partners LLP

> Independent Franchise Partners LLP is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2009, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 2, 2026.

- CRD: 150108
- Filed as: INDEPENDENT FRANCHISE PARTNERS LLP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: July 2, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/150108
- AdvisorCensus page: https://advisorcensus.com/firm/independent-franchise-partners-llp-london-150108

## Quick answers

**How is Independent Franchise Partners LLP compensated?**
On its Form ADV (Item 5.E, October 2026), Independent Franchise Partners LLP reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Independent Franchise Partners LLP located?**
Independent Franchise Partners LLP's principal office is in London, United Kingdom, according to its Form ADV.

**Is Independent Franchise Partners LLP registered with the SEC or a state?**
Independent Franchise Partners LLP is an SEC-registered investment advisory firm, registered since 2009. Status as filed: Approved. CRD 150108.

**How much does Independent Franchise Partners LLP manage?**
Independent Franchise Partners LLP reports $23,845,058,541 in regulatory assets under management in its Form ADV filing dated July 2, 2026 (100% discretionary).

**How have Independent Franchise Partners LLP's assets and staff changed since 2021?**
In the Form ADV data for Independent Franchise Partners LLP: Regulatory assets under management: $17,643,489,627 in the October 2021 data and $23,845,058,541 in the October 2026 data, up 35%. Total employees: 22 in October 2021 and 34 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Independent Franchise Partners LLP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (12); state or municipal government entities (including government pension plans) (7); charitable organizations (5).

**Which custodians does Independent Franchise Partners LLP use?**
Independent Franchise Partners LLP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists J.P. Morgan Chase, State Street Bank and Trust Company and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does Independent Franchise Partners LLP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/150108

**What changed in Independent Franchise Partners LLP's recent Form ADV filings?**
In the August 2026 filing data: Employees performing advisory functions went from 13 to 12. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- J.P. Morgan Chase
- State Street Bank and Trust Company
- The Northern Trust Company

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.

### Regulatory assets under management (Item 5.F)
- Total: $23,845,058,541
- Discretionary: $23,845,058,541
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 1 | $1,530,874,325 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 12 | $16,315,828,430 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $1,281,489,329 |
| Charitable organizations | 5 | $1,044,957,810 |
| State or municipal government entities (including government pension plans) | 7 | $2,707,957,233 |
| Other investment advisers | 0 | $0 |
| Insurance companies | Fewer than 5 | $286,700,720 |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 5 | $677,250,694 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2009 (17 years)
- Employees: 34 total, 12 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [franchisepartners.com](https://franchisepartners.com)
- LinkedIn @independent-franchise-partners-llp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $17,643,489,627 | 22 | March 15, 2021 |
| October 2022 | $18,738,698,747 | 27 | July 4, 2022 |
| October 2023 | $14,519,403,495 | 29 | March 24, 2023 |
| October 2024 | $16,538,393,282 | 31 | June 14, 2024 |
| October 2025 | $22,300,489,302 | 31 | June 25, 2025 |
| October 2026 | $23,845,058,541 | 34 | July 2, 2026 |

Regulatory assets under management: $17,643,489,627 in the October 2021 data and $23,845,058,541 in the October 2026 data, up 35%.
Total employees: 22 in October 2021 and 34 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Employees performing advisory functions went from 13 to 12.
- Updated its list of owners and control persons (Schedule A).

### July 2026
- Employees performing advisory functions went from 12 to 13.

### May 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Independent Franchise Partners LLP (CRD 150108): Form ADV filing data as of October 2026.