Headquarters:
Waltham, MA and San Diego, CA
Year founded:
1979
Number of employees:
1,174 home office staff
Phone:
866 462 3638
Email:
joinus@commonwealth.com
Website:
commonwealth.com
LinkedIn:
linkedin.com/company/commonwealth-financial-network
“We encourage folks to get education and never stop. Just because you graduated college and got your CFP®, it doesn’t mean you have to be done. Everyone at the firm has a personalized professional development plan that’s formally checked in on quarterly”
Lauren Adams
Center for Financial Planning
Timothy W. Wyman, CFP®, JD
Managing Partner and CERTIFIED FINANCIAL PLANNER™
Lauren Adams, CFA®, CFP®
Partner, CERTIFIED FINANCIAL PLANNER™, and Director of Operations
Sandra D. Adams, CFP®
Partner and CERTIFIED FINANCIAL PLANNER™
Leadership
Timothy Wyman, CFP®, JD, is the Managing Partner and CERTIFIED FINANCIAL PLANNER™ at the Center for Financial Planning. He earned a place on Forbes’ Best-In-State Wealth Advisors List in Michigan in 2023 for the sixth consecutive year. A leader in his profession, Wyman has served on the National Board of Directors for the Financial Planning Association. He frequently speaks to organizations and businesses on financial planning topics.
Additionally, he has made appearances on Good Morning America Weekend Edition and has contributed to articles in Forbes, The Wall Street Journal, Money Magazine, SmartMoney, The Chicago Tribune, and other national publications.
Managing Partner and CERTIFIED FINANCIAL PLANNER™
Timothy W. Wyman, CFP®, JD
Lauren Adams, CFA®, CFP®, is a Partner, Certified Financial Planner, and Director of Operations at the Center for Financial Planning. As a CFP professional, Adams works with clients and their families to meet their financial planning goals. As a CFA charter holder and former Senior Stock Analyst, Adams specializes in investments and serves on the Center’s investment committee. As Director of Operations, she strives to create an exceptional service experience for clients and their families. She leads the Center’s back-office activities and works closely with the client service, finance, human resources, and marketing departments.
Partner, CERTIFIED FINANCIAL PLANNER™, and Director of Operations
Lauren Adams, CFA®, CFP®
Sandra D. Adams, CFP®, is a Partner and CERTIFIED FINANCIAL PLANNER™ at the Center for Financial Planning. She specializes in elder care planning, frequently speaking on related topics with the Michigan Association of CPAs, Wayne State University Institute of Gerontology, Society for Active Retirees, Association of International Certified Professional Accountants, and other public and professional groups. In addition, she serves as a trusted source for national publications, including The Wall Street Journal, Research Magazine, Retirement Daily, and the Journal for Financial Planning. She is also an instructor for the Schoolcraft College Continuing Education program.
Partner and CERTIFIED FINANCIAL PLANNER™
Sandra D. Adams, CFP®
“We encourage folks to get education and never stop. Just because you graduated college and got your CFP, it doesn’t mean you have to be done. Everyone at the firm has a personalized professional development plan that’s formally checked in on quarterly”
Lauren Adams
Center for Financial Planning
“We spend a lot of time, energy, and money on our firm culture. We put as much emphasis on our team member experience as we do on our client experience. All team members have a say in our firm vision and goals”
Lauren Adams
Center for Financial Planning
Leadership
“We spend a lot of time, energy, and money on our firm culture. We put as much emphasis on our team member experience as we do on our client experience. All team members have a say in our firm vision and goals”
Lauren Adams
Center for Financial Planning
“We encourage folks to get education and never stop. Just because you graduated college and got your CFP®, it doesn’t mean you have to be done. Everyone at the firm has a personalized professional development plan that’s formally checked in on quarterly”
Lauren Adams
Center for Financial Planning
Leadership
Michael Brocavich, CFP®, MBA
Partner and CERTIFIED FINANCIAL PLANNER™
Michael Brocavich, CFP®, MBA came to the Center with an extensive background in both personal and corporate finance. After earning a BA in Economics and Management from Albion College and an MBA from Wayne State University, he worked as a senior financial analyst first for Federal Mogul and later Barton. Brocavich entered the personal finance field in 2007. By 2013, he opened an Edward Jones office, helping individual investors and small business owners with financial goal planning and wealth management. He joined Raymond James Financial Services in 2017 as a financial advisor specializing in financial planning, wealth management, and estate planning.
Partner and CERTIFIED FINANCIAL PLANNER™
Michael Brocavich, CFP®, MBA
Matthew E. Chope, CFP®
Partner and CERTIFIED FINANCIAL PLANNER™
Matthew E. Chope, CFP®, is a Partner and CERTIFIED FINANCIAL PLANNER™ at the Center for Financial Planning. He earned a place on Forbes’ Best-In-State Wealth Advisors List in Michigan in 2022 for the fourth consecutive year. Active in the financial planning profession since 1990, he is a Registered Representative and Registered Principal with Raymond James Financial Services (RJFS).
In addition to helping individuals and families with financial planning, Chope also works with local corporations and non-profits on strategic planning and business management decisions. During his career, he has been a trusted source for investment-related newspapers and magazines.
Partner and CERTIFIED FINANCIAL PLANNER ™
Matthew E. Chope, CFP®
Commonwealth Financial Network, a member of FINRA/SIPC and a Registered Investment Adviser, provides financial advisors with holistic, integrated solutions that support business evolution, growth acceleration, and operational efficiency. Privately held since 1979, the firm has headquarters in Waltham, MA and San Diego, CA.
Learn more about how Commonwealth partners with approximately 2,200 independent financial advisors overseeing more than $296 billion in assets (as of December 31, 2023) nationwide by visiting commonwealth.com.
“We spend a lot of time, energy, and money on our firm culture. We put as much emphasis on our team member experience as we do on our client experience. All team members have a say in our firm vision and goals”
Lauren Adams
Center for Financial Planning
Nick Defenthaler, CFP®, RICP®
Partner and CERTIFIED FINANCIAL PLANNER™
Angela Palacios, CFP®, AIF®
Partner, CERTIFIED FINANCIAL PLANNER™ and Director of Investments
Matt Trujillo, CFP®
Partner and CERTIFIED FINANCIAL PLANNER™
Simon Williams
Chief Strategy & Distribution Officer, Arch Insurance International
and Active Underwriter, Syndicate 1955
Nick Defenthaler, CFP®, RICP®, is a Partner and CERTIFIED FINANCIAL PLANNER™ at the Center for Financial Planning. In addition to working closely with clients as a Senior Financial Planner, he is a frequent speaker for the firm and has a passion for educating individuals and families on important and timely financial planning concepts.
Defenthaler especially enjoys helping clients through the financial and emotional challenges of transitioning into retirement. Clients often come to him seeking guidance on “how to put it all together” in retirement. As a Retirement Income Certified Professional (RICP), he thrives when helping clients construct their retirement income “puzzle”.
Partner and CERTIFIED FINANCIAL PLANNER™
Nick Defenthaler, CFP®,
RICP®
Angela Palacios, CFP®, AIF®, is a Partner and Director of Investments at the Center for Financial Planning. Active in the financial planning industry since 1999, she joined the Center team in 2008. She specializes in investment and macroeconomic research and oversees the management of client portfolios.
Palacios also provides leadership to the firm’s investment, technology, and compliance departments. In addition to writing a quarterly investment commentary for the Center, she heads up the firm's investment committee. Palacios also serves as a financial planner with a particular interest in helping members of corporate leadership navigate complicated employer benefits packages.
Partner, CERTIFIED FINANCIAL PLANNER™ and Director of Investments
Angela Palacios, CFP®, AIF®
Matt Trujillo, CFP®, is a Partner and a CERTIFIED FINANCIAL PLANNER™ at the Center for Financial Planning. A team member since 2013 and a partner since 2021, he meets with clients as a Senior Financial Planner, serves on the Center’s investment committee, and frequently writes about financial planning and investment topics for the Center’s Money Centered blog.
Trujillo has more than a decade of industry experience. He has also been named to the 2022 Forbes list of Best-in-State Next-Generation Wealth Advisors, which recognizes advisors from national, regional, and independent firms.
Partner and CERTIFIED FINANCIAL PLANNER™
Matt Trujillo, CFP®
Kimi leads the Estate Planning and Wealth Protection team and is a member of the Society of Trust and Estate Practitioners. She understands the complex and delicate nature of family estate planning, the technical requirements around probate and estate administration, and the importance of preserving wealth for future generations. Her advice is accurate, commercial, strategic and tailored to each situation.
Partner
Kimi Shah
Kimi leads the Estate Planning and Wealth Protection team and is a member of the Society of Trust and Estate Practitioners. She understands the complex and delicate nature of family estate planning, the technical requirements around probate and estate administration, and the importance of preserving wealth for future generations. Her advice is accurate, commercial, strategic and tailored to each situation.
Partner
Kimi Shah
Kimi leads the Estate Planning and Wealth Protection team and is a member of the Society of Trust and Estate Practitioners. She understands the complex and delicate nature of family estate planning, the technical requirements around probate and estate administration, and the importance of preserving wealth for future generations. Her advice is accurate, commercial, strategic and tailored to each situation.
Partner
Kimi Shah
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BDM support
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Broker communication, training and development
BDM support
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Turnaround time – claims
Broker's Pick – Personal Accident and Illness Insurance
Brokers’ Pick – Professional liability
Small business
1. presenting a compelling sphere of investments through the Destiny Alternative Fund and unique access to direct and co-investment opportunities for UHNW families seeking opportunities for greater returns
2. creating a niche focus on high-end collectors: Tom Ruggie’s unique insights and perspectives, based on his own lifelong passion for collecting, have resulted in his expertise and thought leadership on this subject, as well as on alternative investments as a whole
3. private trust capabilities: becoming a trust representative office for the nation’s largest trust company
“We encourage folks to get education and never stop. Just because you graduated college and got your CFP®, it doesn’t mean you have to be done,” says Adams. “Everyone at the firm has a personalized professional development plan that’s formally checked in on quarterly.”
Center for Financial Planning, Inc. also stands out for its history of equal leadership. This is illustrated by women being:
54 percent of the firm’s historical owners
42 percent of the firm’s financial planners
three of the eight current partners
To create meaningful programs and incentives for employees, the firm places high importance on feedback, gathering team members’ ideas through regular surveys and company-wide visioning.
“Our entire firm participated in a 10-year+ visioning process – creating a vision together of what our firm would look like in 2030.”
Team members’ ideas and feedback have resulted in the creation of several employee-led groups, including health and wellness and charitable committees.
“We spend a lot of time, energy, and money on our firm culture,” says Adams. “We put as much emphasis on our team member experience as we do on our client experience. All team members have a say in our firm vision and goals.”
Investment News “2024 Best Places to Work for Financial Advisors”. The Best Places to Work for Financial Advisers program is a national program managed by Best Companies Group. The survey and recognition program are dedicated to identifying and recognizing the best employers in the financial advice/wealth management industry. The final list is based on the following criteria: must be a registered investment adviser (RIA), affiliated with an independent broker-dealer (IBD), or a hybrid doing business through an RIA and must be in business for a minimum of one year and must have a minimum of 15 full-time/part-time employees. The assessment process is compiled in a two part process based on the findings of the employer benefits & policies questionnaire and the employee engagement & satisfaction survey. The results are analyzed and categorized according to 8 Core Focus Areas: Leadership and Planning, Corporate Culture and Communications, Role Satisfaction, Work Environment, Relationship with Supervisor, Training, Development and Resources, Pay and Benefits and Overall Engagement. Best Companies Group will survey up to 400 randomly selected employees in a company depending on company size. The two data sets are combined and analyzed to determine the rankings. A total of 75 employers won . The ranking is based on fiscal year 2023 and was released on 02/28/2024. The award is not representative of any one client's experience, is not an endorsement, and is not indicative of an advisor's future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award. Investment News and/or Best Companies Group is not affiliated with Raymond James.”
As Ruggie reflects on all he and his team have accomplished thus far with and for the clients they serve, he remains focused on the ever-evolving needs of clients and how he can best serve them. There are plans to expand the firm’s family office offerings, pursue select M&A opportunities, and launch GenNext, an initiative targeting the younger client demographic.
Ruggie says, “Simply put, we have a growth mindset. We set big goals and have big expectations for ourselves in many areas, starting with the delivery of an exceptional client experience, the desire to continually innovate, and a commitment to invest in ourselves, in best-in-class strategic partnerships, and in the capabilities and services we provide.”
Clients experience deep strategic thinking tailored to their situations, needs, and goals, such as:
2023 Forbes Top Wealth Advisors Best-In-State, developed by Shook Research, is based on the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. 39,007 nominations were received and 7,321 advisors won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: https://go.rjf.com/3KsXbF7. Please see https://www.forbes.com/best-in-state-wealth-advisors for more info.
2023 Forbes Top Wealth Advisors Best-In-State, developed by Shook Research, is based on the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. 39,007 nominations were received and 7,321 advisors won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: https://go.rjf.com/3KsXbF7. Please see https://www.forbes.com/best-in-state-wealth-advisors for more info.
2023 Forbes Top Wealth Advisors Best-In-State, developed by Shook Research, is based on the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. 39,007 nominations were received and 7,321 advisors won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: https://go.rjf.com/3KsXbF7. Please see https://www.forbes.com/best-in-state-wealth-advisors for more info.
2023 Forbes Top Wealth Advisors Best-In-State, developed by Shook Research, is based on the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. 39,007 nominations were received and 7,321 advisors won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: https://go.rjf.com/3KsXbF7. Please see https://www.forbes.com/best-in-state-wealth-advisors for more info.
2023 Forbes Top Wealth Advisors Best-In-State, developed by Shook Research, is based on the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. 39,007 nominations were received and 7,321 advisors won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: https://go.rjf.com/3KsXbF7. Please see https://www.forbes.com/best-in-state-wealth-advisors for more info.
Forbes Top Next-Gen Wealth Advisors Best-In-State 2022, Developed by Shook Research, is based on the period from 3/31/21 to 3/31/22 and was released on 8/3/22. 35,465 nominations were received and 1,000 won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: [https://go.rjf.com/42xzx0E] ( Forbes: https://www.forbes.com/best-in-state-next-gen-advisors/#37b154e025ae )
2023 Forbes Top Wealth Advisors Best-In-State, developed by Shook Research, is based on the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. 39,007 nominations were received and 7,321 advisors won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: https://go.rjf.com/3KsXbF7. Please see https://www.forbes.com/best-in-state-wealth-advisors for more info.
2023 Forbes Top Wealth Advisors Best-In-State, developed by Shook Research, is based on the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. 39,007 nominations were received and 7,321 advisors won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: https://go.rjf.com/3KsXbF7. Please see https://www.forbes.com/best-in-state-wealth-advisors for more info.
Forbes Top Next-Gen Wealth Advisors Best-In-State 2022, Developed by Shook Research, is based on the period from 3/31/21 to 3/31/22 and was released on 8/3/22. 35,465 nominations were received and 1,000 won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: [https://go.rjf.com/42xzx0E] ( Forbes: https://www.forbes.com/best-in-state-next-gen-advisors/#37b154e025ae )
Investment News “2024 Best Places to Work for Financial Advisors”. The Best Places to Work for Financial Advisers program is a national program managed by Best Companies Group. The survey and recognition program are dedicated to identifying and recognizing the best employers in the financial advice/wealth management industry. The final list is based on the following criteria: must be a registered investment adviser (RIA), affiliated with an independent broker-dealer (IBD), or a hybrid doing business through an RIA and must be in business for a minimum of one year and must have a minimum of 15 full-time/part-time employees. The assessment process is compiled in a two part process based on the findings of the employer benefits & policies questionnaire and the employee engagement & satisfaction survey. The results are analyzed and categorized according to 8 Core Focus Areas: Leadership and Planning, Corporate Culture and Communications, Role Satisfaction, Work Environment, Relationship with Supervisor, Training, Development and Resources, Pay and Benefits and Overall Engagement. Best Companies Group will survey up to 400 randomly selected employees in a company depending on company size. The two data sets are combined and analyzed to determine the rankings. A total of 75 employers won . The ranking is based on fiscal year 2023 and was released on 02/28/2024. The award is not representative of any one client's experience, is not an endorsement, and is not indicative of an advisor's future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award. Investment News and/or Best Companies Group is not affiliated with Raymond James.”