Commonwealth Financial Networks announced Monday that R&R Wealth Management, a firm that managed nearly $223 million in assets under advisement at Avantax Investment Services, has affiliated with Commonwealth’s network of independent advisors.
Waukesha, Wisconsin-based R&R Wealth is headed by Robert Holton and Tom Driscoll, both vice presidents of wealth management and senior financial advisors, along with a team of six. The firm focuses on serving business owners, corporate executives and high-net-worth individuals, along with working with companies on retirement plans.
Holton said in a statement that R&R Wealth was looking for a firm that could help it grow.
“We want to build our business to $1 billion in assets over the next four years, and that growth trajectory needs a partner who can support our goals,” he said. “We feel strongly that Commonwealth is the ideal partner as we grow both organically and through acquisitions, and it will help us become the premier wealth management firm for business owners in Wisconsin.”
In 2018, the firm was acquired by the Riesch family, a Wisconsin family that operates R&R Insurance.
Holton has 14 years of experience, according to his BrokerCheck report, and had spent a year at Avantax, after stints at LPL Financial and BMO Harris Financial Advisors. Driscoll has 12 years of experience, and had been affiliated with Avantax since 2019.
“Over the years, we have worked tirelessly to create a culture that promotes the success of our advisors and fosters a high level of entrepreneurialism — R&R Wealth will bring its like-minded spirit to our community of independent advisors,” Becca Hajjar, managing principal and chief business development officer at Commonwealth, said in a statement. “More tangibly, we look forward to providing flexible financing, investment management, and retirement planning support to allow R&R Wealth to take the next step in the evolution of its firm.”
Commonwealth works with more than 2,100 advisors across the country managing more than $242.9 billion in assets.
As markets disintegrate, the value of on-the-ground, first-hand research through "intimate knowledge acquisition" is skyrocketing.
Deal brings 10 advisors and deeper family office reach to Austin market.
Mega-RIA to adopt AI workforce at enterprise scale as firm rethinks growth without hiring.
The five-advisor group leaves U.S. Bank for LPL's platform, part of a record June that saw 204 advisors join the firm.
As Goldman Sachs tightens rules on event contract trading, RIAs and hedge funds are weighing their own policies
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
