The Phoenix-based practice lays the foundation for its next phase of growth, with a focus on retirement plans.
Commonwealth Financial Network®, a national RIA dedicated to providing financial advisors with holistic, integrated business solutions, welcomes Phoenix, Arizona-based Patrick Funke & Associates to its network of independent advisors. Advisor Patrick Funke, CLU®, ChFC®, AIF®, manages the practice together with his wife and longtime business partner, Jennifer Funke. Previously with Osaic, the team reported advising on more than $430 million in client assets.*
“Patrick and Jennifer sought an operational model that would free up time to focus on client service and growing their practice, and we’re honored that they found their long-term fit with Commonwealth,” said Becca Hajjar, managing principal and chief business development officer.
More than 25 years ago, Patrick Funke recognized an opportunity to build a sustainable niche serving small corporate retirement plans with a strong focus on participant education. “Oftentimes, a workplace 401(k) meeting can be the first interaction an investor has with an advisor,” explained Funke. “This provides an opportunity to make those meetings a gateway to making a genuine difference in people’s lives.” The practice has grown entirely by word-of-mouth referrals. Its individual, family, and trust clients include business owners and others connected to its retirement plan business, among others. “We aim to be a lower-cost provider, offering financial planning and investment services consistent with what I describe as an evidence-based approach to investment selection,” said Funke. Learn more about the practice at pf-associates.com.
In selecting a partner firm, Jennifer Funke emphasized the need for efficiency, order, and intuitive technology. “With the Commonwealth approach, we appreciate that when we have questions, people pick up the phone, listen, and call back promptly,” she said.
Since the practice serves hundreds of clients, the Funkes were wary about the transition process but found it smooth. “Now that we’ve transitioned, we’re finding that opening a new account takes five minutes. The system generates all the forms, and it’s easy for clients to approve via DocuSign.”
“I’m getting time back already,” said Patrick Funke. “When we last changed our partner firm, it was for additional size and scale. That’s not enough, though, because relationships are the lifeblood of our firm. The Commonwealth model means partnering with a high-level, professional team that’s relationship-focused, not transaction-oriented. Looking ahead, Commonwealth and LPL will give us the foundation to grow our practice.”
