The Center for Wealth Management, a financial planning firm in Troy, has been acquired by Commonwealth Financial Network, a Massachusetts- and California-based registered investment adviser. The center brings total account assets to $220 million. Details of the transaction were not disclosed.
“We are proud to join Commonwealth, a firm that values independence and maintains a culture of service excellence,” says Robert Moore, associate. “By moving our practice to Commonwealth, we are gaining a tremendous advantage in technology capabilities and consulting, in terms of both accessibility and accuracy of information, as well as overall efficiency. With Commonwealth, there is an unmatched ease of doing business and helpfulness that will enable us to do much more for our clients, as well as allow for more opportunities to expand our services and hands-on support.”
The Center for Wealth Management provides protection planning, investment planning, tax strategies, estate planning, and retirement planning. It focuses on pre-retirees and early retirees and has a client niche of engineers and young professionals. The company participates in corporate speaking engagements on topics including retirement planning, financial wellness, and social security benefits.
“We’re honored to welcome Center for Wealth Management, an established boutique practice, to the Commonwealth community,” says Andrew Daniels, managing principal of business development. “Our advisor- and client-facing platforms will help this team offer an even more streamlined experience while providing superior service. We look forward to backing this team the way they back their clients.”
Commonwealth was founded in 1979 and supports about 1,950 financial advisers nationwide.