Grand Rapids, MI Embassy Drive SE 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
4095 Embassy Drive SE, Suite B
Grand Rapids MI 49546
Advisors at this office
3
Advisors at this office
Justin H
Series 66
Grand Rapids, MI
Commonwealth Financial Network
Justin Hutt is a financial advisor with Commonwealth Financial Network, holding a Series 66 designation and 22 years of industry experience. He worked at Axa Advisors, LLC for 14 years before joining Commonwealth in 2017. Outside of his advisory role, he is co-owner of CooperDavis Financial Group, LLC, which facilitates securities, advisory, and insurance business. Commonwealth Financial Network is a registered investment adviser serving a national network of approximately 2,950 advisors and their retail and institutional clients. The firm offers a variety of advisory programs and services, including wealth management and retirement plan consulting, supported by a centralized operations, trading, technology, and compliance platform.
Dustin O
CFP®, Series 66
Grand Rapids, MI
Commonwealth Financial Network
Dustin Osborne is a CFP® professional with 16 years of industry experience, currently serving at Commonwealth Financial Network since 2017. Prior to that, he worked at Axa Advisors, LLC for seven years. He is also a partner and co-owner of CooperDavis Financial Group, LLC. Commonwealth Financial Network is a registered investment adviser supporting a national network of approximately 2,950 advisors with a variety of advisory programs and services. The firm provides operational, trading, technology, investment management, compliance, and practice-management support while allowing advisors discretion in constructing client portfolios from a broad range of securities and insurance products.
William F
Series 63, Series 65
Grand Rapids, MI
Commonwealth Financial Network
William Ferguson is a financial advisor with Commonwealth Financial Network, holding Series 63 and Series 65 licenses and bringing 32 years of industry experience. He worked at AXA Advisors, LLC for 19 years before joining Commonwealth in 2018. Commonwealth Financial Network is a registered investment adviser supporting a national network of approximately 2,950 advisors and their clients with a range of advisory programs and services. The firm provides operations, trading, technology, investment management, compliance, and practice-management support, allowing advisors discretion in portfolio construction alongside managed model portfolios and multiple program options.
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