Williamsburg, VA 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
5400 Discovery Park Boulevard, Suite 101
Williamsburg VA 23188
Advisors at this office
5
Advisors at this office
Benjamin B
CFP®, Series 66
Williamsburg, VA
Commonwealth Financial Network
Benjamin Bryan is a CFP® with six years of industry experience, currently serving as a financial advisor at Commonwealth Financial Network. He previously worked at Agia and Valic Financial Advisors and has experience in both financial services and education. Bryan is also an agent for non-securities insurance products. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser that supports a national network of nearly 2,900 advisors and manages over $212 billion in client assets. The firm offers a wide range of managed account programs, third-party asset manager access, and custody and clearing services.
Lee L
Series 66
Williamsburg, VA
Commonwealth Financial Network
Lee Lehmkuhler is a financial advisor with Commonwealth Financial Network, holding a Series 66 designation and 16 years of industry experience. His prior roles include positions at Cornerstone Wealth, Huntington Ingalls Industries, LPL Financial, TD Ameritrade, and Scottrade. Commonwealth Financial Network serves a national network of approximately 2,950 advisors and their retail and institutional clients, offering a variety of advisory programs and services. The firm provides operations, trading, technology, investment management, compliance, and practice-management support to affiliated advisors who deliver personalized advice under Commonwealth’s supervision.
Michael S
CFP®
Williamsburg, VA
Commonwealth Financial Network
Michael Sigmon is a CFP® professional with six years of experience in the financial services industry. He has worked at firms including Summit Financial Partners and Cornerstone Wealth before joining Commonwealth Financial Network. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser serving a national network of nearly 2,900 advisors and hundreds of thousands of clients. The firm provides a range of adviser support services, including managed account programs, access to third-party asset managers, and custody and clearing services.
Blake H
Series 66
Williamsburg, VA
Commonwealth Financial Network
Blake Hicks is a financial advisor with Commonwealth Financial Network and holds a Series 66 designation. He has seven years of industry experience, including roles at Points Wealth, LLC—which he owns—as well as Colonial River Wealth Management, LPL Financial, and Lions Bridge Financial Advisors. Prior to his advisory career, he worked at the National Center for State Courts. Commonwealth Financial Network is a dual-registered broker/dealer and SEC-registered investment adviser supporting a national network of approximately 2,900 advisors and managing over $212 billion in client assets. The firm offers a comprehensive adviser platform, including managed-account programs, third-party asset manager access, retirement consulting, and custody services.
Stuart H
CFP®, Series 66
Williamsburg, VA
Commonwealth Financial Network
Stuart Honenberger is a CFP® with 19 years of industry experience, currently affiliated with Commonwealth Financial Network. He is the owner of Cornerstone Wealth, LLC, and has prior experience at firms including Oikonomos, LLC and Raymond James Financial. Honenberger spends a small portion of his time on fixed insurance sales. Commonwealth Financial Network serves a national network of approximately 2,950 advisors, providing a range of advisory programs, technology, and operational support. The firm offers discretionary model portfolios and customizable investment solutions to retail and institutional clients.
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