Summit Financial, based in Burlington, Massachusetts, has $1.2 billion assets under advisement. Its retirement practice comprises most of its revenue and provides administration, compliance support, consulting, due diligence, fiduciary oversight, and fund selection assistance to retirement plans. It also operates an employee benefit brokerage business, as well as a wealth management division.
“The fact that Commonwealth allows its advisers to act as a fiduciary is critical to our business,” said Bonasera. “We felt it was important to partner with a firm that is abreast of the new fiduciary guidelines and that values our experience and integrity to act as a fiduciary. Commonwealth is ahead of most in that area.”
Commonwealth Financial Network, member FINRA/SIPC, is a registered investment adviser (RIA), with headquarters in Waltham, Massachusetts, and San Diego, California.