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Commonwealth Nabs $1.3B NPC Team

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Commonwealth Financial Network says it has recruited an advisory group with $1.3 billion in client assets.

Paris International of Great Neck, New York, used to be affiliated with National Planning Corp., part of a broker-dealer network bought recently by LPL Financial. It is owned by Stuart and Michael Paris.

“This is a team that values relationships as much as we do and provides the same support to its clients that we strive to provide to the advisors we work with. We look forward to doing everything we can to help Paris International serve its clients and grow its business,” said Andrew Daniels, managing principal, business development, in a statement.

Paris International specializes in retirement plans for businesses and serves as an outsourced chief retirement officer for small- and medium-sized companies with up to 10,000 employees. It also plays the role of an outsourced CFO and CIO for its individual investor clients.

“It’s a perfect fit for us — Commonwealth is a big firm that acts like a boutique. They have the scale we need to run our business while still offering personal support,” explained Michael Paris in a press release.

According to FINRA BrokerCheck, the Paris team were affiliated with NPC from early February 2006 to mid-October 2017.

Commonwealth Financial Network supports 1,710 independent financial advisors. It just wrapped up its 2017 National Conference in San Diego.


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