Bloomington, MN Dupont Ave S Office
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Commonwealth Financial Network
Enterprise
Firm-wide stats for Commonwealth Financial Network
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
Expertise
Based on Commonwealth Financial Network
Location
9801 Dupont Ave S, Suite 395
Bloomington MN 55431
Advisors at this office
3
Advisors at this office
Brett H
Series 66
Bloomington, MN
Commonwealth Financial Network
Brett Haukedahl is a financial advisor with Commonwealth Financial Network in Bloomington, MN, holding a Series 66 designation and 13 years of industry experience. He previously operated Haukedahl Financial Services, LLC and worked at Capital Management Securities, Inc. from 2013 to 2017. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser supporting a national network of approximately 2,900 affiliated advisors and managing around $212.7 billion in client assets. The firm offers a comprehensive adviser-support platform including managed-account programs, access to third-party asset managers, retirement consulting, and custody services.
Jacob R
Series 66
Bloomington, MN
Commonwealth Financial Network
Jacob Rahbain is a financial advisor at Commonwealth Financial Network with seven years of industry experience. He holds the Series 66 designation and has previously worked at NorthRock Partners LLC, TD Ameritrade, MML Investors Services, and Massachusetts Mutual Life Insurance Company. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser serving a national network of approximately 2,900 affiliated advisors and managing about $212.7 billion in client assets. The firm provides a broad adviser-support platform including managed-account programs, third-party asset manager access, retirement and plan consulting, and custody/clearing services.
Mark H
ChFC®, Series 63, Series 65
Bloomington, MN
Commonwealth Financial Network
Mark Haukedahl is a financial advisor with Commonwealth Financial Network in Bloomington, MN. He holds the ChFC® designation and Series 63 and 65 licenses, with 42 years of industry experience. Prior to joining Commonwealth in 2017, he worked at Capital Management Securities Inc. for 10 years and operated Haukedahl Financial Services for 30 years. Outside of advising, he is involved in oil well operations and leasing mineral rights. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser serving a national network of nearly 2,900 advisors and managing over $200 billion in client assets. The firm provides a broad range of managed account programs, third-party asset manager access, and back-office support, offering various investment options including mutual funds, ETFs, and personalized indexing.
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