Commonwealth Financial Network, headquartered in Waltham, Mass. and San Diego, announced on Wednesday that it added Durham, N.C.-based The Potter Financial Group to its network of independent financial advisors.
The Potter Financial Group’s partners—Charlie Potter, Chip Roe and Price French—and wealth advisor associate Jason Harmon had been affiliated with Kestra Financial.
The Potter Financial Group had been with Kestra for two decades, and the firm says its decision to move to Commonwealth was not an easy one.
“Amid industry change and consolidation, what became of utmost importance to us was private ownership, a sound business model and organizational structure, and a low advisor-to-staff ratio to ensure the prioritization of our practice,” Roe said in a press statement. He added that his firm was attracted to Commonwealth’s level of support and array of business models.
The team brings $130 million in assets under management, adding to Commonwealth’s nearly $81 billion in regulatory assets under management as of this year’s first quarter. Commonwealth is a privately owned registered investment advisor and independent broker-dealer.