Columbia, SC Taylor Street 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
500 Taylor Street, Suite 301
Columbia SC 29201
Advisors at this office
3
Advisors at this office
Nicholas S
Series 66
Columbia, SC
Commonwealth Financial Network
Nicholas Shiver is a financial advisor at Commonwealth Financial Network with a Series 66 designation and three years of industry experience. His prior roles include positions at Calmwater Advisors, Wallick Investments, Park Avenue Securities, and Guardian Life Insurance Company. He has also been involved with the Roman Catholic Diocese of Charleston. Commonwealth Financial Network is a national dual-registered broker/dealer and SEC-registered investment adviser supporting approximately 2,900 affiliated advisors and managing over $212 billion in client assets. The firm provides a comprehensive adviser-support platform featuring managed-account programs, access to third-party asset managers, retirement consulting, and custody services.
William S
Series 66
Columbia, SC
Commonwealth Financial Network
William Spires is a Series 66-licensed financial advisor with Commonwealth Financial Network, based in Columbia, SC, where he has worked for 15 years. He also serves as Vice President and Co-Owner of CalmWater Advisors, LLC. Spires has 13 years of industry experience. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser with a national network of approximately 2,900 advisors, managing around $212.7 billion in client assets. The firm offers a comprehensive adviser-support platform that includes managed-account programs, access to third-party asset managers, retirement consulting, and custody services.
Jacob M
Series 66
Columbia, SC
Commonwealth Financial Network
Jacob Mc Clary is a financial advisor with Commonwealth Financial Network, holding a Series 66 designation and beginning his advisory career in 2026. Prior to entering the financial industry, he worked in education, including roles at the University of South Carolina and several local schools. 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 a broad client base. The firm offers a comprehensive adviser-support platform, including managed-account programs, access to third-party asset managers, and custody services.
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