$881 million team from Securian moves to Commonwealth

An advisory firm in Doylestown, Pennsylvania, that oversees $881 million in assets and had been affiliated with Securian Financial Services for 32 years has joined Commonwealth Financial Network, Commonwealth announced Wednesday.

Foundations Financial Partners includes Christopher Hackley, its president and managing partner; Keith Tomer, partner and senior advisor; and Roark Gover, client services director. The firm also has six advisors and five staffers.

Foundations Financial Partners has a next-gen talent development program that helps young advisors build a foundation for their careers that includes earning industry designations, according to a statement.

“We wanted to go where service and technology are consistently commended,” Hackley said in the statement. “And Commonwealth aligns well with my model for developing and training younger advisors and implementing our succession plans. Introducing, integrating, and transitioning those advisors into our business will improve the client experience.”

Hackley plans to leverage Commonwealth’s Entrepreneurial Capital offering — a suite of flexible financing options — to adopt an acquisition model and double the firm’s advisors and assets over the next five years.

Commonwealth works with more than 2,100 independent financial advisors who manage $242.9 billion in assets.

In January, Cetera announced that it was buying Securian Financial Services, and since then, dozens of Securian advisors have left the firm.