Commonwealth Adds More Than $255 Million in New Advisor Assets
Waltham, MA (January 28, 2013)—Commonwealth Financial Network® announces the addition of three leading independent financial services firms. All former affiliates of LPL Financial, Ellis & Ellis Investment Management, LLC, Ingargiola Wealth Management Group, and Cornerstone Investment Group bring with them more than $255 million in combined total client assets.
“Ellis & Ellis Investment Management, LLC, Ingargiola Wealth Management Group, and Cornerstone Investment Group are industry leaders who share our strong cultural values and client-centric business model,” said Andrew Daniels, Commonwealthâ€™s managing principal of field development. “We welcome each firm to Commonwealth and look forward to being a supportive partner to them as they enhance their practices and achieve their strategic growth objectives.”
Ellis & Ellis Investment Management, LLC, based in LaGrange, Georgia, and led by father-son team Robert Ellis and Will Ellis, is a holistic wealth management firm focusing on retired high-net-worth individuals.Â A total of six advisors oversees more than $150 million in total client assets.
“The business philosophy of Ellis & Ellis mirrors Commonwealthâ€™s in the sense that we, too, operate by a client forward philosophy,” said Mr. Will Ellis. “Our team is a cohesive group of motivated and ambitious individuals who act with integrity. We saw the same characteristics, and sense of care and personalized attention, from the moment we engaged in a dialogue with Commonwealth.”
Ingargiola Wealth Management Group, based in Dunmore, Pennsylvania, is led by Lou Ingargiola and his colleague, Sean McAndrew. Ingargiola offers a comprehensive approach to wealth management for individuals, families, and businesses and integrates strong thought leadership and social media initiatives into the practice. Â Together, the advisors have $70 million in total client assets.
“Our advance and preserve strategy has proven to be a successful business model for us and helps set us apart from others in our industry,” said Mr. Ingargiola. “Our clients are assured that their goals are our goals, too. Partnering with Commonwealth, who shares the same client-forward approach, will enhance our brand and allow us to continue to follow the vision and mission of our practice.”
Cornerstone Investment Group, based in Pikeville, Kentucky, and led by Ronnie Spence, is an independent firm specialized in serving clients working within the natural resources industry. Mr. Spence delivers strategic and tactical investment allocations and recommendations based on varying client objectives and oversees more than $35 million in total client assets.
“Commonwealth is the perfect match for my needs, as I sought a truly independent firm that offered not only an open architecture of products and services, but also the tailored support and
advanced and integrated technology to easily implement strategies for my clients,” said Mr. Spence. “These benefits will grant me more time to focus on the single most important factor for the success of my practiceâ€”my clients.”
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, and a registered investment adviser, is the nation’s largest privately held independent broker/dealer, with headquarters in Waltham, Massachusetts, and San Diego, California. J.D. Power and Associates ranks Commonwealth “Highest in Independent Advisor Satisfaction among Financial Investment Firms” two times in a row.* The firm supports more than 1,500 independent registered representatives nationwide and makes available a comprehensive array of financial products and services. For more information, please visit www.commonwealth.com.
*Commonwealth Financial Network received the highest numerical score in the independent advisor segment in the proprietary J.D. Power and Associates 2010 and 2012 Financial Advisor Satisfaction Studiessm. The 2012 study was based on nearly 2,800 total responses and measures overall financial advisor satisfaction among advisors registered with Financial Industry Regulatory Authority (FINRA) investment firms. Proprietary study results are based on experiences and perceptions of financial advisors surveyed between November 2011 and January 2012. Your experiences may vary. Visit jdpower.com.