Commonwealth Financial Network is strengthening its support for financial advisors who serve high-net-worth families through a new partnership.
Through a collaboration with Legacy Capitals, an independent firm specializing in wealth transfer training and consulting, the hybrid RIA has introduced a new education initiative to help advisors navigate the complexities of wealth transfer and intergenerational planning.
The program is part of Commonwealth’s broader Private Client Group program, which offers specialized tools and investment strategies for advisors working with HNW clients. Its newly forged Legacy Capitals partnership is focused on equipping advisors with the skills needed to manage family dynamics and assist in wealth preservation across multiple generations.
“For many HNW families, the leading advisory challenge is navigating complex family dynamics, protecting wealth, and passing both values and wealth down through multiple generations,” Karen McColl, senior vice president of wealth management at Commonwealth, said in a statement. She noted that Legacy Capitals’ Whole Family Advisor program is designed to address these specific needs, enabling advisors to expand their services for high- and ultra-high-net-worth clients.
The pilot phase of the program is already in progress, with 25 advisors participating in virtual classes, completing practical coursework, and sharing legacy planning insights. Rather than a simultaneous network-wide rollout, Commonwealth intends to offer the program in small cohorts of 25 to ensure a personalized approach and broad access to the training.
Consultants from Legacy Capital will be available to help Commonwealth advisors deal with managing meetings and complex family dynamics, the firm said.
“With trillions of dollars in wealth transferring across generations over the next 25 years, advisors must be prepared to help families preserve their legacies, avoid pitfalls, and intentionally plan to have their values and valuables flourish across generations,” said Dr. Richard Orlando, founder and legacy consultant at Legacy Capitals.
Advisors who complete the program will also receive a one-year membership to Legacy Capitals’ Academy, providing ongoing education and resources, as well as access to a peer network.
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
