The business used to be affiliated with MML Investors Services.

Commonwealth Financial Network®, the RIA and broker-dealer firm, has added Innovative Financial Solutions to its network. IFS has offices in Bloomington, Indiana, Palm Coast, and Florida. The organization used to be affiliated with MML Investors Services.

The partners of the firm, William Verhagen, Christopher Harmon, Ian Essling, and financial advisor Mark Kraus and their team oversee more than $400 million of assets under management.

Innovative Financial Solutions serves a mix of clients such as business owners, medical professionals and families, as well as Indiana University faculty and administrators. 

Founded in 1979, Commonwealth Financial Network describes itself as the largest privately held Registered Investment Adviser–independent broker/dealer in the US and its headquarters are in Waltham, Massachusetts, and San Diego, California.

There has been a trend of bankers and brokers leaving bulge-bracket firms to form or join firms such as RIAs because they want to be their own boss. But with compliance and other costs mounting, they typically need to partner with other firms. (The breakaway trend is also concurrent with a pattern of independent firms merging to build scale, with more $1.0 billion-plus RIAs coming into the frame.)