Arroyo Grande, CA Camino Mercado Office

Team
Updated today
Commonwealth Financial Network logo

Commonwealth Financial Network

Enterprise

Firm-wide stats for Commonwealth Financial Network

Total advisors

2,786

Across 1,205 offices

Clients per advisor

128 Very High

Avg AUM per client

$568,323 High

HNW client ratio

12% Typical

About

Commonwealth Financial Network is a dual‑registered broker/dealer and SEC‑registered investment adviser that serves a national network of approximately 2,900 affiliated advisors and hundreds of thousands of individual and institutional clients, managing roughly $212.7 billion in client assets. The firm offers a broad adviser‑support platform that includes discretionary and nondiscretionary managed‑account programs (PPS Custom, PPS Select, PPS Direct), access to third‑party asset managers, retirement and plan consulting, and custody/clearing services.

Advisors work with clients to define goals and risk tolerance and may implement portfolios using Commonwealth’s internally managed model portfolios (Investment Management and Research team) or by outsourcing execution and model implementation to third‑party platforms and subadvisers (for example, Envestnet, SEI, and Orion). Commonwealth acts as a wrap‑fee program sponsor and back‑office provider—covering trading, reporting, and householding—while offering a mix of mutual funds, ETFs, individual securities, annuity subaccounts, and personalized indexing and tax‑aware options.

Noteworthy aspects disclosed in the firm’s brochure include its acquisition by LPL Financial Holdings, Inc. on August 1, 2025 and recent regulatory matters, including a March 2026 SEC judgment that resulted in a $5,000,000 civil penalty and earlier SEC enforcement related to mutual fund share‑class disclosures. The firm also discloses material conflicts arising from its clearing and sweep arrangements—notably revenue‑sharing with its clearing firm—and a range of advisor compensation and transition incentives (administrative‑fee discounts, graduated payouts, and forgivable loans) that can affect program availability and recommendation incentives.

Based on Commonwealth Financial Network

Location

540 Camino Mercado

Arroyo Grande CA 93420

Advisors at this office

6

Advisors at this office

user avatar

Stephen M

Series 63

Arroyo Grande, CA

Commonwealth Financial Network

Stephen Maguire is a financial advisor with Commonwealth Financial Network, holding a Series 63 designation and over 54 years of industry experience. He has been with Commonwealth since 2015. Outside of his advisory work, he is a co-owner of SM2 Trust, LLC, which provides professional fiduciary services, and serves as a trustee for the Goodhines Revocable Trust. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser supporting a national network of approximately 2,900 advisors and managing around $212.7 billion in client assets. The firm offers a broad range of managed-account programs, third-party asset manager access, and comprehensive back-office services to individual and institutional clients.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
user avatar

Sean M

Series 66

Arroyo Grande, CA

Commonwealth Financial Network

Sean Maguire is a financial advisor with Commonwealth Financial Network, holding a Series 66 designation and bringing nine years of industry experience. He has been with Commonwealth and operates Maguire Investments since 2016. Outside of his advisory role, Sean has worked as a residential real estate sales agent with Compass in San Luis Obispo, CA. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser serving a national network of approximately 2,900 advisors and hundreds of thousands of clients, managing over $210 billion in assets. The firm provides a broad platform of managed-account programs, third-party asset manager access, and custody services, supporting advisors in implementing portfolios through internal or external management.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
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John Paul S

Series 63, Series 65

Arroyo Grande, CA

Commonwealth Financial Network

John Paul Stornetta is a financial advisor at Commonwealth Financial Network with 26 years of industry experience. He has been with Commonwealth since 2015 and holds Series 63 and Series 65 licenses. Outside of his advisory role, he is a co-owner of Maguire Investments, LLC. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser serving a national network of approximately 2,900 advisors and managing about $212.7 billion in client assets. The firm provides a broad adviser-support platform including managed-account programs, access to third-party managers, and custody services.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
user avatar

Edward S

Series 63, Series 66

Arroyo Grande, CA

Commonwealth Financial Network

Edward Silva is a financial advisor with Commonwealth Financial Network, holding Series 63 and Series 66 licenses and bringing 28 years of industry experience. He has been with Commonwealth since 2015. Outside of his advisory role, he is a co-owner of Maguire Investments, LLC, a private entity involved in securities, advisory, and insurance business. Commonwealth Financial Network is a registered investment adviser that supports a national network of approximately 2,950 advisors and their clients through a variety of advisory programs and services. The firm provides operations, trading, technology, investment management, compliance, and practice-management support, enabling advisors to offer customized portfolio solutions including discretionary model portfolios and personalized indexing options.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
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Charlee Z

Series 66

Arroyo Grande, CA

Commonwealth Financial Network

Charlee Zleisy is a financial advisor at Commonwealth Financial Network with a Series 66 designation and three years of industry experience. She has been associated with Commonwealth Financial Network and Maguire Investments since 2014 in various capacities. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser serving a national network of approximately 2,900 advisors and hundreds of thousands of clients. The firm offers a broad adviser-support platform that includes managed-account programs, access to third-party asset managers, retirement consulting, and custody services.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
user avatar

Louis S

Series 65, Series 63

Arroyo Grande, CA

Commonwealth Financial Network

Louis Summer is a financial advisor with Commonwealth Financial Network, holding Series 65 and Series 63 licenses and six years of industry experience. He has worked at several firms including Maguire Investments, LLC, Wacker Wealth Partners, and Taylor Frigon Capital Management. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser serving a national network of approximately 2,900 advisors and managing around $212.7 billion in client assets. The firm provides adviser-support services such as managed-account programs, access to third-party asset managers, retirement consulting, and custody/clearing services.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
View complete list of advisors at this office
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