Commonwealth Partners With Legacy Capitals on HNW Advisor Training

Commonwealth Financial Network has kicked off an advisor education program in partnership with Legacy Capitals, an independent provider of inheritance and wealth transfer training and consulting services for advisors focused on high-net-worth clients.

The program’s pilot phase is already underway, according to the announcement, with 25 advisors participating in live virtual classes, completing practical coursework and sharing legacy planning experiences.

Commonwealth plans to continue offering the program to groups of about 25 advisors at a time. Additionally, the firm is making Legacy Capitals’ consultants available to assist Commonwealth advisors with the hands-on management of family meetings.

“For many HNW families, the leading advisory challenge is navigating complex family dynamics, protecting wealth, and passing both values and wealth down through multiple generations,” Karen McColl, senior vice president of wealth management at Commonwealth, said in a statement.

Richard Orlando, founder and legacy consultant at Legacy Capitals, said the training program will help Commonwealth’s advisors navigate the transfer of trillions of dollars of family wealth in the coming decades.

“Advisors must be prepared to help families preserve their legacies, avoid pitfalls and intentionally plan to have their values and valuables flourish across generations,” Orlando said.

Advisors who complete the initial program receive a one-year membership to Legacy Capitals’ Academy, offering ongoing education; Commonwealth-branded resources to share with clients and prospects; and access to a peer network.

Commonwealth currently partners with more than 2,200 independent financial advisors overseeing more than $296 billion in assets nationwide.

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