IFG Advisory, LLC (“IFGA” or “Firm”) is dedicated to providing individuals and other types of
clients with a wide array of investment advisory services including portfolio management,
financial planning, and retirement plan advice. Our firm has been in business as an
independent investment adviser since 2013. The firm is wholly owned by Integrated Financial
Group, LLC. In turn, Integrated Financial Group, LLC. is owned by Donald Warren Patrick and
John Land Bridgers, each a principal owner. Please see the Brochure Supplements(s) for
more information on Mr. Patrick, Mr. Bridgers and other individuals who formulate investment
advice and have direct contact with clients or have discretionary authority over client
accounts.
Comprehensive Portfolio Management:
IFGA and its investment adviser representatives ("IARs") offer a variety of discretionary and
non-discretionary investment advisory services on a wrap and non-wrap fee basis. This
Brochure describes the advisory programs and advisory services offered by the IFGA on a non-
wrap fee basis. For more information on IFGA’s Wrap Fee Program, please see IFGA’s Wrap
Fee Program Brochure.
Asset Management Services
IFGA offers Asset Management services to advisory clients. IFGA will offer clients ongoing
asset management services through determining individual investment goals, time horizons,
objectives, and risk tolerance. Investment strategies, investment selection, asset allocation,
portfolio monitoring and the overall investment program will be based on the above factors.
Discretionary
When the Client elects to use IFGA on a discretionary basis, the Client will sign a limited
trading authorization or equivalent allowing IFGA to determine the securities to be
bought or sold and the amount of the securities to be bought or sold. IFGA will have
the authority to execute transactions in the account without seeking Client approval
on each transaction.
Non-Discretionary
When the Client elects to use IFGA on a non-discretionary basis, IFGA will determine
the securities to be bought or sold and the amount of the securities to be bought or
sold. However, IFGA will obtain prior Client approval on each and every transaction
before executing any transaction.
Sub-Advisors:
IFGA may also select and appoint one or more Sub-Advisor(s) to provide Sub-Advisor Services
to Client’s Account. Such Sub-Advisor Services will be as determined by IFGA. Such Sub-
Advisor(s), in providing Sub-Advisor Services, shall have all of the same authority relating to
the management, including fee deduction authority, of Client’s Account as is granted to IFGA.
In addition, at IFGA’s discretion, IFGA may grant such Sub-Advisor(s) full authority to further
delegate such discretionary investment authority to other Money Managers. Client will agree
to such authority within IFGA’s Advisory Agreement. All fees paid by Client to IFGA are
inclusive of the fees paid to Sub-Advisor.
Third-Party Managers/Co-Advisory Platforms:
IFGA may also act as a promoter and refer clients to Third-Party Manager/investment advisory
(“TPM”) firms for management services. The advisory representative will assist you in
determining your investment objective for the account and recommend an appropriate
portfolio or management style offered by the third-party advisor. The third-party advisor will
buy and sell securities in your account on a discretionary basis. IFGA does not participate in
the management of accounts managed by the third-party advisor. You should refer to the
disclosure brochure for the third-party advisor for further information about the services
offered by the third-party advisor, as well as whether or not the third-party advisor will permit
you to impose reasonable restrictions on the investments selected within the account.
IFGA may also act as a promoter and refer retirement plan participants and plan sponsors to
third party investment advisory firms for services including allocation recommendations and
retirement education, but specifically excluding account management or assistance with
trading. Such services will be provided to you primarily through a web portal provided by the
third-party advisor. The advisory representative will assist you in establishing the relationship
with the third-party advisor and be available to answer questions and facilitate the
relationship on an ongoing basis. You should refer to the disclosure brochure for the third-
party advisor for further information about the services offered by the third-party advisor.
You will be required to enter into an investment advisory agreement and other account
paperwork with the third-party advisor to establish a relationship, as well as sign a disclosure
that IFGA is acting in a promoter-only capacity.
Held Away Assets
IFGA utilizes third-party platforms to facilitate the management of held-away assets, in which
we will have discretionary and non-discretionary authority. These are primarily 401(k)
accounts, 529 Plans, HSA’s, and other assets which are held at third-party custodians. IFGA
regularly reviews, monitors, and trades in these accounts in the same way we do other
accounts. IFGA will seek to align the Client’s held-away account(s) with their overall
investment time horizon, risk tolerance, objectives, and goals.
Financial Planning & Consulting:
We provide a variety of standalone financial planning and consulting services to individuals,
families, and other clients regarding the management of their financial resources based upon
an analysis of the client’s current situation, goals, and objectives. Generally, such financial
planning services will involve preparing a financial plan or rendering a financial consultation
for clients based on the client’s financial goals and objectives. This planning or consulting can
encompass one or more of the following areas: Investment Planning, Retirement Planning,
Estate Planning, Charitable Planning, Education Planning, Corporate and Personal Tax
Considerations, Cost Segregation Study, Real Estate Analysis, Mortgage/Debt Analysis,
Insurance Analysis, Lines of Credit Evaluation, Business and Personal Financial Planning.
Business Valuation estimates are also offered as part of Financial Planning.
Our written financial plans or consultations rendered to clients usually include general
recommendations for a course of activity or specific actions to be taken by the clients. For
example, recommendations may be made that the clients begin or revise investment
programs, create or revise wills or trusts, obtain or revise insurance coverage, commence or
alter retirement savings, or establish education or charitable giving programs.
It should also be noted that we refer clients to accountants, attorneys, or other specialists, as
necessary for non-advisory related services. For written financial planning engagements, we
provide our clients with a summary of their financial situation, observations, and
recommendations. For financial consulting engagements, we usually do not provide our
clients with a written summary of our observations and recommendations as the process is
less formal than our planning service. Plans or consultations are typically completed within six
(6) months of the client signing a contract with us, assuming that all the information and
documents we request from the client are provided to us promptly. Implementation of the
recommendations will be at the discretion of the client.
ERISA RETIREMENT PLAN SERVICES
IFGA offers Retirement Plan Consulting Services to qualified and non-qualified retirement
plans including 401(k) plans, 403(b) plans, pension and profit-sharing plans, cash balance
plans, and deferred compensation plans. IFGA may act as a 3(21) or 3(38) advisor:
Limited Scope ERISA 3(21) Fiduciary. IFGA acts as a limited scope ERISA 3(21) fiduciary that
can advise, help, and assist plan sponsors with their investment decisions. As an investment
advisor IFGA has a fiduciary duty to act in the best interest of the Client. The plan sponsor is
still ultimately responsible for the decisions made in their plan, though using IFGA can help
the plan sponsor delegate liability by following a diligent process.
IFGA offers consulting services to retirement plan sponsors in some or all of the following
areas as agreed upon between the plan sponsor and IFGA in the written consulting services
agreement.
• Investment Policy Statement – assist the plan sponsor in developing or revising the
plan’s investment policy statement based upon its objectives and constraints
• Service Provider Liaison – act as a liaison between the plan
and its service providers,
product sponsors and vendors based solely on instructions from the plan on
investment or administrative matters. IFGA will not exercise judgment or discretion
with regard to these matters
• Investment Monitoring – perform ongoing monitoring of investments and/or
investment managers based on written guidance provided by the plan
• Investment Recommendations – recommend specific investments for plan sponsor to
consider within the plan or to make available to plan participants (if applicable), and/or
recommend replacement investments if an existing investment is deemed no longer
suitable by the plan sponsor. All decisions regarding investment options to be made
available to plan participants for purchase are the responsibility of the plan sponsor
• Investment Education – Provide education on general investment product types and
strategies
• Performance Reports – Provide performance reports generated through Orion Advisor
or an IFGA approved performance reporting vendor
• 404(c) Assistance – assist plan in identifying investment options under the “broad
range” requirement of ERISA 404(c)
• Qualified Default Investment Alternative (QDIA) Assistance – assist Client in identifying
an investment alternative within the definition of QDIA under ERISA
• Education Services to Plan Sponsor – provide training for members of the plan sponsor
or any plan committee with regard to their services, including education with respect
to their fiduciary responsibilities
• Participant Enrollment – assist and/or provide resources to assist the plan in enrolling
plan participants in the plan, including facilitating agreed upon enrollment meetings
and providing participants with information about the plan such as terms and
operation of the plan, benefits of plan participation, benefits of increasing plan
contributions, and impact of preretirement withdrawals on retirement income
• Participant Education – facilitate individual or group investment education meetings
for plan participants providing information about investment options under the plan
such as investment objectives and historical performance, explaining investment
concepts such as diversification and risk and return, and providing guidance as to how
to determine investment time horizon and risk tolerance. This will not include
individualized investment advice for a particular participant
• Changes in Investment Options – assist in making changes to investment options
under the plan upon the plan sponsor’s direction. IFGA will have no discretion over the
changes made or be involved in trade execution
• Vendor Analysis – assist plan with the preparation, distribution and evaluation of
Requests for Proposals, finalist interviews and conversion support
• Benchmarking Services – provide plan with comparisons of plan data such as fees,
services, participant enrollment and participant contributions levels to data from the
plan’s prior years and/or similar plans
• Fee Assessment – assist plan in identifying fees and other costs incurred by the plan for
investment management, recordkeeping, participant education, participant
communication and/or other services provided
The plan sponsor is responsible for determining whether or not to implement any
recommendations provided by IFGA. IFGA does not take discretion with respect to plan assets
and IFGA does not provide individualized advice to participants in the plan.
In some situations, where agreed to in writing by IFGA, certain specified investment
management services may be provided to plan sponsors. These services include making
investment selections and developing custom model portfolios.
In certain situations, an advisor providing Retirement Plan Consulting Services may also offer
his/her advisory services to participants of the plan under the Participant Investment Advice
Program and/or through Financial Planning Services. In this case, the advisor would be
compensated for their services as advisor to the plan and as advisor to the participants of the
plan.
3(38) Investment Manager. IFGA acts as an ERISA 3(38) Investment Manager in which it has
discretionary management and control of a given retirement plan’s assets. IFGA would then
become solely responsible and liable for the selection, monitoring and replacement of the
plan’s investment options.
1. Fiduciary Services include:
• Advisor has discretionary authority and will make the final decision regarding the
initial selection, retention, removal and addition of investment options in
accordance with the Plan’s investment policies and objectives.
• Assist the Plan Sponsor with the selection of a broad range of investment options
consistent with ERISA Section 404(c) and the regulations thereunder.
• Assist the Plan Sponsor in the development of an investment policy statement. The
IPS establishes the investment policies and objectives for the Plan.
• Provide discretionary investment advice to the Plan Sponsor with respect to the
selection of a qualified default investment alternative for participants who are
automatically enrolled in the Plan or who have otherwise failed to make investment
elections. The Plan Sponsor retains the sole responsibility to provide all notices to
the Plan participants required under ERISA Section 404(c) (5).
• Assist in monitoring investment options by preparing periodic investment reports
that document investment performance, consistency of fund management and
conformance to the guidelines set forth in the IPS and make recommendations to
maintain, remove or replace investment options.
• Meet with Plan Sponsor on a periodic basis to discuss the reports and the
investment recommendations.
2. Non-fiduciary Services include:
• Assist in the education of Plan participants about general investment information
and the investment alternatives available to them under the Plan. The Advisor’s
assistance in education of the Plan participants shall be consistent with and within
the scope of the Department of Labor’s definition of investment education
(Department of Labor Interpretive Bulletin 96-1). As such, the Advisor is not
providing fiduciary advice as defined by ERISA to the Plan participants. Advisor will
not provide investment advice concerning the prudence of any investment option
or combination of investment options for a particular participant or beneficiary
under the Plan.
• Assist in the group enrollment meetings designed to increase retirement plan
participation among the employees and investment and financial understanding
by the employees.
IFGA may provide these services or, alternatively, may arrange for the Plan’s other providers
to offer these services, as agreed upon between Advisor and Plan Sponsor.
3. IFGA has no responsibility to provide services related to the following types of assets
(“Excluded Assets”):
a. Employer securities;
b. Real estate (except for real estate funds or publicly traded REITs);
c. Stock brokerage accounts or mutual fund windows;
d. Participant loans;
e. Non-publicly traded partnership interests;
f. Other non-publicly traded securities or property (other than collective trusts and
similar vehicles); or
g. Other hard-to-value or illiquid securities or property.
Client-Tailored Services and Client-Imposed Restrictions
The goals and objectives for each Client are documented in our Client files. Investment
strategies are created that reflect the stated goals and objectives. Clients may impose
restrictions on investing in certain securities or types of securities. These restrictions may,
however, prohibit engagement with IFGA.
Participation in Our Wrap Fee Program
We offer a wrap fee program in order to simplify the payment of management fees and
brokerage expenses. The wrap fee includes the brokerage expenses (i.e., commissions, ticket
charges, etc.) of the account as well as our management fee. For further details, please see
our Appendix 1, Wrap Fee Program Brochure. Our wrap fee and non-wrap fee accounts are
managed on an individualized basis according to the client’s investment objectives, financial
goals, risk tolerance, etc. We do not manage wrap fee accounts in a different fashion than
non-wrap fee accounts. As further described in our Appendix 1, Wrap Fee Program Brochure
we receive a portion of the wrap fee for our services.
Assets Under Management
As of December 31, 2023, we managed $3,055,782,390 on a discretionary basis and $196,610,670
on a non-discretionary basis totaling $3,252,393,060 assets under management.