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.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
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.
