Bimal K. Shah

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CRD#: 2685812

Professional summary

Bimal Kishore Shah was barred by the FINRA from acting as a broker or investment advisor or otherwise associating with a broker-dealer firm.

Bimal is a previously registered financial professional and started their career in finance in 1996. Prior to being barred, Bimal had worked at 9 firms, which includes INDEPENDENT FINANCIAL GROUP LLC, STONEX ADVISORS INC., STONEX SECURITIES INC., WRP INVESTMENTS INC., KESTRA INVESTMENT SERVICES LLC, EAGLE STRATEGIES LLC, NYLIFE SECURITIES LLC, ROBERT W. BAIRD & CO. INCORPORATED, NORTHWESTERN MUTUAL INVESTMENT SERVICES LLC.

Question & Answer

Are you a "fiduciary"?

Aliases

None

Other business activities

Outside business activity is any business or activity undertaken by an advisor that is outside the scope of their relationship with their firm (e.g., consulting services, real estate, freelance work, teaching, etc.). Investors should stay informed about these activities to ensure no conflicts of interest.

The advisor shows no other business activity.

Blog Corner

CRS (Client Relationship Summary)

The CRS(Customer Relationship Summary) document is not provided.

Certified licenses

Advisors may have various certifications and credentials from different organizations. AdvisorCheck highlights these seven certifications - AIF®, CFP®, ChFC®, CFA, CLU®, CIMA®, CPWA®

None

Experience

Past

December 22, 2015 - May 31, 2016

INDEPENDENT FINANCIAL GROUP, LLC

RIA

CRD#: 7717

Boca Raton, FL

Past

December 21, 2015 - May 31, 2016

INDEPENDENT FINANCIAL GROUP, LLC

CRD#: 7717

Boca Raton, FL

Past

January 30, 2015 - January 4, 2016

STONEX ADVISORS INC.

RIA

CRD#: 174182

BIRMINGHAM, AL

Past

September 12, 2014 - December 28, 2015

STONEX SECURITIES INC.

CRD#: 18456

BOCA RATON, FL

Past

July 13, 2009 - January 30, 2015

WRP INVESTMENTS, INC.

RIA

CRD#: 7365

BOCA RATON, FL

Past

July 7, 2009 - September 12, 2014

WRP INVESTMENTS, INC.

CRD#: 7365

BOCA RATON, FL

Past

December 12, 2006 - July 9, 2009

KESTRA INVESTMENT SERVICES, LLC

CRD#: 42046

BOCA RATON, FL

Past

December 11, 2006 - July 9, 2009

KESTRA INVESTMENT SERVICES, LLC

RIA

CRD#: 42046

BOCA RATON, FL

Past

January 30, 2002 - December 19, 2006

EAGLE STRATEGIES LLC

RIA

CRD#: 110826

FORT LAUDERDALE, FL

Past

April 4, 2000 - December 19, 2006

NYLIFE SECURITIES LLC

CRD#: 5167

FT. LAUDERDALE, FL

Past

October 2, 1997 - July 14, 1999

ROBERT W. BAIRD & CO. INCORPORATED

CRD#: 8158

MILWAUKEE, WI

Past

January 1, 1996 - July 14, 1999

NORTHWESTERN MUTUAL INVESTMENT SERVICES, LLC

CRD#: 2881

MILWAUKEE, WI

Primary Firm SEC Registration

This SEC-registered firm can serve clients nationwide. Some states may require the firm to submit a notice filing if the firm has more than 5 clients or a physical office there. You can view these state-level filings under the section titled "State Registrations and Notice Filings".

INDEPENDENT FINANCIAL GROUP, LLC

CRD#: 7717 / SEC#: 801-62667, 8-22870

RIA

Registered Investment Advisory firm - SEC (1/30/2004 Approved)

Broker-Dealer Firm Regulated by FINRA (Los Angeles district office)

State Registrations and Notice Filings

Listed states reflect where the advisor is authorized to serve clients under state regulations.

Visual representation of state registrations

This advisor is not registered in any state.

Don't see your state listed? The advisor may still be able to work with you under the federal De Minimis Rule, which allows up to five investment advisory clients in a state without registration. Some states, like TX, LA, NE, and NH, may still require registration or notice filing. Contact the advisor or their firm to confirm their investment advisory availability in your state.

Exams

State Security Law Exam

IAR

Series 65

Date: 11/2/2001

Uniform Investment Adviser Law Examination

State Security Law Exam

Series 63

Date: 5/15/2001

Uniform Securities Agent State Law Examination

General Industry/Product Exam

SIE

Date: 5/31/2016

Securities Industry Essentials Examination

General Industry/Product Exam

Series 6

Date: 12/28/1995

Investment Company Products/Variable Contracts Representative Examination

Current Firm

INDEPENDENT FINANCIAL GROUP, LLC

CRD#: 7717 / SEC#: 801-62667, 8-22870

RIA

Registered Investment Advisory firm - SEC (1/30/2004 Approved)

Broker-Dealer Firm Regulated by FINRA (Los Angeles district office)

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Contact information

Main Address

12671 High Bluff Drive Suite 200, San Diego, CA 92130

Mailing Address

12671 High Bluff Drive Suite 200, San Diego, CA 92130

Phone number

(858) 436-3180

Established

Delaware since 07/09/2001

Firm type

Limited Liability Company

Fiscal year end

December

Firm Size

Large

# of Employees

622

SEC notice filing (52 States and Territories)

FINRA licenses (53 States and Territories)

Documents

Customer Relationship Summary (CRS / SEC)

Customer Relationship Summary (CRS / FINRA)

Latest Form ADV

Part 2 Brochures

FORM ADV PART 2B WRAP BROCHURE (9/4/2025)

FORM ADV PART 2A BROCHURE (9/4/2025)

Direct owners and executive officers

Name	Position	CRD#
INDEPENDENT FINANCIAL GROUP, INC.	OWNER
DAVIS, SCOTT EARLE	CFO & FINOP	7160800
DENNEN, BRIAN	CCO BROKERAGE & ADVISORY	3239786
FISCHER, DAVID ALLEN	MANAGING DIRECTOR	1634222
HEISING, SCOTT ALLEN	CHIEF EXECUTIVE OFFICER/ MANAGING DIRECTOR	2192259
KEEFE, KEVIN MICHAEL	PRESIDENT, COO	1869560
KREISMAN, SARAH JILL	SVP & GENERAL COUNSEL	2671706
PEARSON, TROY DALE	ROSFP	2413897

Regulatory assets under management

Total Number of Accounts	44,046
AUM (Assets Under Management)	$ 11,322,059,063

Disclosures

Regulatory Event	15
Arbitration	2
Bond	1

Red Flags

Disclosures can be potential red flags, including customer disputes, regulatory fines, employer terminations, bankruptcies, judgments, liens, or certain criminal activities.

Check for any disclosures as part of your thorough research when choosing an advisor.

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Bimal K. Shah

Professional summary

Question & Answer

Aliases

Other business activities

Blog Corner

CRS (Client Relationship Summary)

Certified licenses

Experience

INDEPENDENT FINANCIAL GROUP, LLC

STONEX ADVISORS INC.

STONEX SECURITIES INC.

WRP INVESTMENTS, INC.

WRP INVESTMENTS, INC.

KESTRA INVESTMENT SERVICES, LLC

KESTRA INVESTMENT SERVICES, LLC

EAGLE STRATEGIES LLC

NYLIFE SECURITIES LLC

ROBERT W. BAIRD & CO. INCORPORATED

NORTHWESTERN MUTUAL INVESTMENT SERVICES, LLC

Primary Firm SEC Registration

INDEPENDENT FINANCIAL GROUP, LLC

State Registrations and Notice Filings

Exams

Series 65

Date: 11/2/2001

Series 63

Date: 5/15/2001

SIE

Date: 5/31/2016

Series 6

Date: 12/28/1995

Current Firm

INDEPENDENT FINANCIAL GROUP, LLC

Contact information

SEC notice filing (52 States and Territories)

FINRA licenses (53 States and Territories)

Documents

Part 2 Brochures

Direct owners and executive officers

Regulatory assets under management

Disclosures

Red Flags

Company Information

INDEPENDENT FINANCIAL GROUP, LLC

TRUST BUT VERIFY

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