Commonwealth Adds $1.5B Angelo Planning Group as LPL Acquisition Nears Completion 

Commonwealth Financial Network has welcomed the Angelo Planning Group (APG), a Rochester, NY–based advisory firm, previously affiliated with Osaic, overseeing approximately $1.5 billion in client assets. Led by founder Ralph Angelo and a team of 16 advisors, APG ranks among the largest additions in Commonwealth’s 45-year history. 

The affiliation was announced in tandem with Commonwealth’s pending $2.7 billion acquisition by LPL Financial. While the deal initially raised questions among some advisors, APG ultimately endorsed the move, citing LPL’s reputation as a reliable long-term partner. 

Angelo emphasized that joining Commonwealth—and transitioning to LPL’s platform in the future—supports the team’s focus on continuity and operational stability. He highlighted Commonwealth’s strong compliance and tech capabilities, along with LPL’s streamlined, transfer-by-negative-consent account process, which helped ensure uninterrupted service for more than 7,000 client accounts. 

LPL’s acquisition of Commonwealth represents its largest to date, adding nearly 2,900 advisors and $285 billion in assets. The transaction is expected to close later this year, with plans to maintain the Commonwealth brand and service model. 

APG’s transition also continues a wave of high-profile advisor departures from Osaic, including billion-dollar teams such as Academy Financial, PFG Advisors, Salient Wealth Planning Group, and Investment Advisors Financial Group. 

Commonwealth, established in 1979, supports roughly 2,345 independent advisors managing over $344 billion in assets. It operates out of headquarters in Waltham, MA, and San Diego, CA, with a key operations hub in Blue Ash, OH.