$430M Team Leaves Osaic for Commonwealth | FA Movement
- Commonwealth Financial Network has expanded its financial advisor network with the addition of Patrick Funke & Associates.
- Based in Phoenix, AZ, Patrick Funke & Associates, led by Patrick and jennifer Funke, offers an array of financial services.
- The move to Commonwealth reflects a strategic decision focused on enhanced partnership and client service.
Patrick Funke & Associates, managing $430 million, has jumped from Osaic too Commonwealth, marking a significant move in the financial advisor landscape. Based in Phoenix, the team’s transition emphasizes a relationship-focused approach to financial planning, offering services like retirement planning and investment strategies. The decision, driven by a desire for enhanced client service and streamlined operations, highlights Commonwealth’s appeal. Commonwealth’s acquisition of Angelo Planning Group and impending LPL financial acquisition further underscore its growth trajectory. Discover the details on this advisors’ movement, brought to you by News Directory 3. What strategic advantages will this new partnership unlock? Discover what’s next …
$430M Ex-Osaic Advisor Team Jumps to Commonwealth
Commonwealth Financial Network has expanded its financial advisor network with the addition of Patrick Funke & Associates. The team, previously affiliated with Osaic, brings $430 million in assets under management to Commonwealth.
Based in Phoenix, AZ, Patrick Funke & Associates, led by Patrick and jennifer Funke, offers an array of financial services. These include 401(k) investments, retirement planning, investment strategies, and comprehensive financial planning tailored for families, retirees, pre-retirees, and business owners.
The move to Commonwealth reflects a strategic decision focused on enhanced partnership and client service. The firm’s financial advisor team sought a more relationship-driven model.
“The Commonwealth model means partnering with a high-level,professional team that’s relationship-focused,not transaction-oriented,” patrick Funke said. “Looking ahead,Commonwealth and LPL will give us the foundation to grow our practice.”
Patrick Funke & Associates cited Commonwealth’s “efficiency, order, and intuitive technology” as key factors in their decision, aiming to improve client experience and streamline operations.Before Osaic,the team was associated with Securities America,later integrated into Osaic.
Commonwealth has been actively growing,including the acquisition of Angelo Planning Group,a Rochester,NY-based advisory firm with $1.5 billion in client assets. In March, LPL Financial announced its intent to acquire Commonwealth for approximately $2.7 billion, combining cash, debt, and equity.
What’s next
With the transition complete,Patrick Funke & associates aims to leverage Commonwealth’s resources to expand its financial planning services and enhance client relationships,focusing on long-term growth and strategic investment solutions.