Hyannis, MA Main 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
540 Main Street, Suite 16 A
Hyannis MA 02601
Advisors at this office
6
Advisors at this office
Michael M
CFP®, Series 63, Series 65
Hyannis, MA
Commonwealth Financial Network
Michael Marchese Jr. is a CFP® with 28 years of industry experience, currently affiliated with Commonwealth Financial Network and Axial Financial Group. He has held various ownership and management roles in multiple related entities, including tax services and insurance businesses. 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 provides a comprehensive adviser-support platform with access to managed-account programs, third-party asset managers, and custodial services.
Emily M
CFP®, Series 66, Series 63
Hyannis, MA
Commonwealth Financial Network
Emily Mullane is a CFP®-designated financial advisor with 12 years of industry experience. She is currently with Commonwealth Financial Network and Axial Financial Group, having previously worked at Bank of America and Merrill. Outside of finance, she owns Claire & Lee Gifts, an online gift business based in East Falmouth, MA. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser supporting a national network of approximately 2,900 advisors. The firm offers a broad platform including managed-account programs, third-party asset manager access, retirement consulting, and custody services.
William S
CFP®, Series 66
Hyannis, MA
Commonwealth Financial Network
William Scotti III is a CFP® professional with 20 years of industry experience. He is a co-owner and managing principal of Axial Capital Management, LLC, and has worked with Commonwealth Financial Network since 2007. His prior experience includes roles at Swift Financial Services, Inc., and Axial Financial Group. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser serving a national network of approximately 2,900 affiliated advisors. The firm provides a broad adviser-support platform that includes managed-account programs, access to third-party asset managers, retirement consulting, and custody services.
Paul M
Series 63, Series 65
Hyannis, MA
Commonwealth Financial Network
Paul Miller is a financial advisor with Commonwealth Financial Network in Burlington, MA, holding Series 63 and Series 65 licenses and bringing 36 years of industry experience. He has been affiliated with Commonwealth since 2006 and has served at Axial Financial Group since 2007. Outside of his advisory work, he is involved in tax-related services through co-ownership of Pinnacle Tax Service, LLC. Commonwealth Financial Network is a national registered investment adviser supporting approximately 2,950 advisors with a range of advisory programs and services. The firm provides operations, trading, technology, investment management, compliance, and practice-management support, enabling advisors to offer diversified portfolios and discretionary model strategies to their clients.
Tracey B
Series 65, Series 66
Hyannis, MA
Commonwealth Financial Network
Tracey Brennan Reale is a financial advisor with Commonwealth Financial Network, holding Series 65 and Series 66 licenses and bringing 15 years of industry experience. She has worked with Axial Financial Group since 2012 and has been associated with Commonwealth Financial Network since 2010. Outside of her advisory work, Reale is involved in tax preparation services. 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 provides a range of advisory programs and support services, including discretionary model portfolios and personalized investment solutions, while offering a platform that supports advisors in delivering customized advice under Commonwealth’s supervision.
Andrew A
Series 66
Hyannis, MA
Commonwealth Financial Network
Andrew Augusto is a financial advisor with Commonwealth Financial Network in Hyannis, MA. He holds a Series 66 designation and has one year of industry experience. Prior to joining Commonwealth, he worked at Axial Financial Group, MassMutual, and Florence Bank. He is also involved in fixed insurance sales. Commonwealth Financial Network serves a national network of approximately 2,950 advisors, providing advisory programs and support services including wealth management, retirement plan consulting, and access to third-party asset managers. The firm offers a range of investment programs and operates as a platform provider supporting advisors with operations, trading, technology, compliance, and practice management.
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