Saratoga Springs, NY Maple Ave Office

Team
Updated today
Commonwealth Financial Network logo

Commonwealth Financial Network

Enterprise

Firm-wide stats for Commonwealth Financial Network

Total advisors

2,744

Across 1,217 offices

Clients per advisor

130 Very High

Avg AUM per client

$568,323 High

HNW client ratio

12% Typical

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

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy

Based on Commonwealth Financial Network

Occupation focus

Founder/Business Owner Executive Retired

Based on Commonwealth Financial Network

Location

628 Maple Ave, Suite 101

Saratoga Springs NY 12866

Advisors at this office

5

Advisors at this office

user avatar

Michael A

Series 66

Saratoga Springs, NY

Commonwealth Financial Network

Michael Altavilla is a financial advisor with Commonwealth Financial Network based in Saratoga Springs, NY. He holds the CFP® and ChFC® designations and has 12 years of industry experience. His prior roles include positions at Mass Mutual Investors Services, Massachusetts Mutual Life Insurance Company, and Metlife Securities. Altavilla is also a co-owner of Novus Wealth Strategies, LLC, a private entity facilitating securities, advisory, and insurance business. Commonwealth Financial Network serves a national network of approximately 2,950 advisors and their retail and institutional clients, providing a range of advisory programs, wealth management, and retirement plan consulting. The firm supports advisors with operations, trading, technology, investment management, compliance, and practice-management services.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
user avatar

Cody L

Series 63, Series 65

Saratoga Springs, NY

Commonwealth Financial Network

Cody Lapage is a financial advisor with Commonwealth Financial Network, holding Series 63 and Series 65 licenses and bringing 11 years of industry experience. He previously worked at Mass Mutual Investors Services and MassMutual for eight years before joining Novus Wealth Strategies and Commonwealth Financial Network in 2024. Outside of his advisory work, he owns Power Acres, a farm raising Angus cattle and standardbred horses. 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 wide range of managed-account programs, access to third-party asset managers, and comprehensive back-office support.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
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Randolph A

ChFC®, Series 63

Saratoga Springs, NY

Commonwealth Financial Network

Randolph Altavilla is a financial advisor with Commonwealth Financial Network, holding the ChFC® and Series 63 designations and bringing 43 years of industry experience. His career includes roles at Novus Wealth Strategies, Mass Mutual Investors Services, MassMutual Life Insurance Company, and Metropolitan 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 hundreds of thousands of clients. The firm provides a comprehensive adviser-support platform, including managed-account programs, third-party asset manager access, retirement consulting, and custody services.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
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Laura D

Series 63, Series 65

Saratoga Springs, NY

Commonwealth Financial Network

Laura Donovan is a financial advisor with Commonwealth Financial Network, holding Series 63 and Series 65 licenses and eight years of industry experience. Her prior roles include positions at Honor, Townsend & Kent LLC, Penn Mutual Life Insurance Company, Equity Services Inc, and National Life Group. She is also involved in a political campaign for the position of Ulster County Legislator. Commonwealth Financial Network is a registered investment adviser that supports a national network of approximately 2,950 advisors, providing advisory programs, wealth management, and retirement plan consulting. The firm offers a range of investment solutions and operational support, allowing advisors discretion in portfolio construction alongside model portfolios managed by Commonwealth’s Investment Management and Research team.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
user avatar

Gregory B

Series 66

Saratoga Springs, NY

Commonwealth Financial Network

Gregory Beaulieu Jr. is a financial advisor with Commonwealth Financial Network and holds a Series 66 designation. He has one year of industry experience, including prior roles at Northwestern Mutual Investment Services LLC and several other firms. 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 their clients. The firm offers a broad adviser-support platform with discretionary and nondiscretionary managed-account programs, access to third-party asset managers, and a variety of investment options.

Passive / index investing Active portfolio management Tax-loss harvesting Wealth management Retirement income strategy Founder/Business Owner Executive Retired
View complete list of advisors at this office
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