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.
Omaha-based RIA expands Northern California footprint with Roseville acquisition amid record annual pace for wealth management M&A.
Advisor's Alpha framework joins Envestnet's platform, giving advisors new tools to manage client tax exposure year-round.
B Capital and pension giant CalPERS lead a consortium buying the 90-year-old asset manager from TA Associates and Reverence Capital Partners.
Using artificial intelligence can have benefits for both advisors and their clients, according to new research.
Broker-dealers that sold the defunct securities backed by Inspired Healthcare generated more than $100 million in fees and commissions.
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
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
