Duluth, MN 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
324 W. Superior Street, Suite 1000
Duluth MN 55802
Advisors at this office
5
Advisors at this office
Tiffany T
CFP®, Series 63, Series 65
Duluth, MN
Commonwealth Financial Network
Tiffany Tomassoni is a CFP®-designated financial advisor with eight years of industry experience. She is currently affiliated with Commonwealth Financial Network and has held positions at DeGraaf Financial, Wheeler Associates, and Northwestern Mutual. Tomassoni is also involved in fixed insurance sales, dedicating a small portion of her time to this activity during securities trading hours. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser that supports a national network of approximately 2,900 advisors and manages roughly $212.7 billion in client assets. The firm offers a broad advisory platform with discretionary and nondiscretionary managed-account programs, access to third-party asset managers, and various investment options, serving both individual and institutional clients.
Neil L
CFP®, Series 65
Duluth, MN
Commonwealth Financial Network
Neil Larson is a CFP® and holds a Series 65 license, currently affiliated with Commonwealth Financial Network. He has three years of industry experience, including roles at Wheeler Associates and Kolar Automotive Group. Commonwealth Financial Network is a registered investment adviser serving a national network of approximately 2,950 advisors and their clients. The firm provides a range of advisory programs and operational support, enabling advisors to offer customized portfolio management and a variety of investment solutions.
Ryan C
Series 63
Duluth, MN
Commonwealth Financial Network
Ryan Coole is a financial advisor with Commonwealth Financial Network, holding a Series 63 designation and bringing 19 years of industry experience. He has worked extensively with Wheeler Associates and Wheeler Retirement Plans LLC. Outside of his advisory role, he is involved in youth sports as the owner and general manager of a girls hockey team and serves as a coach developer for USA Hockey. 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 over $212 billion in client assets. The firm provides various managed-account programs, access to third-party asset managers, and back-office support including trading and reporting services.
Ryan P
Series 65
Duluth, MN
Commonwealth Financial Network
Ryan Peterson is a financial advisor at Commonwealth Financial Network in Duluth, MN, holding a Series 65 credential with less than one year of industry experience. His prior work includes roles at Superior Water Light & Power Company, Twin Ports Paper & Supply, and Ridgeview Country Club. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser serving a national network of around 2,900 advisors and managing approximately $212.7 billion in client assets. The firm provides a broad adviser-support platform including managed-account programs, access to third-party asset managers, retirement consulting, and custody services.
Andrew W
CFP®, Series 63, Series 65
Duluth, MN
Commonwealth Financial Network
Andrew Wheeler is a CFP® with 24 years of industry experience, currently affiliated with Commonwealth Financial Network. He has held positions at Commonwealth since 2008, with additional experience at Allspring Funds Management and Strong Capital Management. Outside of his advisory work, Wheeler is involved in several private investment ventures, including co-ownership of entities focused on private investments and real estate. 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, and custody and clearing services.
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