Firm History

IFS has over 20 years of experience as an institutional investment advisory firm.

The firm was originally formed by Francis ("Frank") Lilly and Samuel ("Skip") Halpern in 1987 as Bear Stearns Fiduciary Services. The fiduciary backgrounds of Mr. Lilly and Mr. Halpern are significant because they have shaped and guided our firm for over two decades. Over the years, IFS has grown in its depth and breadth of experiences, its staff, and its range of services and clients. Nevertheless, it has always remained firmly rooted in its role as a fiduciary.

On October 1, 1996, Mr. Lilly and Mr. Halpern bought the predecessor company from Bear Stearns and renamed it "Independent Fiduciary Services". At that time, all employees and clients, without exception, continued with the re-named company. IFS has been independently owned and operated by its active employees since that time. Mr. Lilly and Mr. Halpern maintain a majority interest. Seven other active employees also own an equity position in the company.

IFS is based in Washington, D.C., with a second office in Newark, N.J.