Commonwealth Financial Network has recruited a trio of advisors from UBS with more than $200 million in client assets to its network of independent financial advisors in Monterey, Calif., according to an announcement by the company.
Senior partners Scott Fosmark, Marian Deering and Larry Walker operate as Monterey Custom Wealth Management.
Fosmark said Commonwealth said the team chose Commonwealth because of the broad support and platform infrastructure that it provides. He said the team looks forward to incorporating more extensive and robust third-party research into their portfolio design, growing through strategic marketing support from Commonwealth’s newly launched Brand Studio.
“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,” said Andrew Daniels, Commonwealth’s managing principal of business development. “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.”
Founded in 1979, Commonwealth Financial Network has headquarters in Waltham, Mass., and San Diego. The firm supports more than 2,000 independent financial advisors nationwide.