Waltham, MA (December 14, 2020)—Commonwealth Financial Network®, a national firm dedicated to providing advisor-focused business solutions, announces the addition of Monterey Custom Wealth Management, with offices in Monterey, California, to its network of independent financial advisors. Formerly affiliated with UBS, financial advisors Scott Fosmark, CFP®, Marian Deering, CFP®, MPAS®, Larry Walker, and their staff bring with them total account assets of more than $200 million, with fee-based revenue of nearly 85 percent.
At Monterey Custom Wealth Management, every client receives a customized portfolio built specifically for them and closely monitored, an approach the team devotes significant resources and time to developing. Choosing to join Commonwealth to deliver their services under their own name and brand ultimately came down to a desire to do what's best for their clients. To learn more about the firm, visit https://www.montereycwm.com/.
"Freedom is how most people operate at their best," says senior partner Scott Fosmark. "You get a lot of personal fulfillment from being able to exercise judgment, so you work hard to make the right decisions for your clients. The client comes first, period."
Fosmark added, "Commonwealth is the perfect match for us in terms of the broad support and platform infrastructure that we need for our evolving business and brand."
Because it is privately held, Commonwealth offers a business model focused solely on helping its advisors succeed. Fosmark and the senior partner team at Monterey Custom Wealth Management look forward to incorporating even more extensive and robust third-party research into their portfolio design, growing with intention through strategic marketing support from Commonwealth's newly launched Brand Studio, and enjoying the flexibility to serve their clients their way, which comes from making the move to independence.
"We're ecstatic to welcome Monterey Custom Wealth Management to our community of independent financial advisors," said Andrew Daniels, Commonwealth's managing principal of business development. "We know that breaking away from a well-known wirehouse to make the move from employee to business owner can be a leap of faith, and we’re honored to have earned this trust. Being able to draw on Commonwealth's array of customizable business solutions while running their practice their way is going to allow the team to achieve their vision as a firm with increased efficiency and freedom."
About Commonwealth Financial Network®
Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides a suite of business solutions that empowers more than 2,000 independent financial advisors nationwide. J.D. Power ranks Commonwealth “#1 in Independent Advisor Satisfaction Among Financial Investment Firms, Seven Times in a Row.” Privately held since 1979, the firm has headquarters in Waltham, Massachusetts, and San Diego, California. Learn more about Commonwealth by visiting www.commonwealth.com.
Commonwealth received the highest score in the independent advisor segment of the J.D. Power 2010, 2012, 2013, 2014, 2018, 2019, and 2020 Financial Advisor Satisfaction Studies of customers’ satisfaction among financial advisors. Visit jdpower.com/awards.