Commonwealth Financial Services
Commonwealth Financial Services is an independent, fee-based Registered Investment Advisory firm founded in 2003 serving pre-retirees, retirees, small business owners, and specialized regional clients across West Virginia and Ohio through five offices and a team of eight advisors.
- Company typePrivate
- Founded2003
- HeadquartersParkersburg, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Commonwealth Financial Services does
Commonwealth Financial Services is an independently owned, fee-based Registered Investment Advisory (RIA) firm founded in 2003 in Parkersburg, West Virginia, with co-founders Roger Woodruff, Todd Kimpel, and Michael Seese. The firm operates five offices across the Mid-Ohio Valley — Vienna and Wheeling in West Virginia, plus Athens, Marietta, and Woodsfield in Ohio — serving individual investors and families primarily in the pre-retirement and retirement phases, as well as small business owners, medical professionals, oil and gas landowners, and union/plant workers in the region. The firm is led by CEO Shanell Jeffrey, CIO Daniel Spurgeon, and CAO Michael Seese, with a team of eight financial advisors, six of whom hold the Certified Financial Planner designation and more than 130 years of combined advisory experience.
The firm's service offering centers on three core practice areas — Financial Planning, Investment Strategies, and Retirement Planning — delivered through a wrap fee model that bundles financial planning into the advisory fee, supplemented by hourly consulting and ancillary services covering estate planning, income planning, education planning, tax strategies, oil and gas royalty planning, employer-sponsored plans, and life, disability, and long-term care insurance. The technology stack is built on third-party platforms: eMoney for consolidated financial planning and goal tracking, Orion for account access and portfolio management, and Fidelity and Charles Schwab as custodial brokerage integrations. Client acquisition relies on local face-to-face meetings, referrals, and educational content distributed through a biweekly Wealth Wednesday blog and YouTube channel plus an email newsletter.
Commonwealth Financial Services is privately held with equity ownership spread among multiple advisors and partners, no institutional or private equity investors, and no public ticker. There is no disclosure of revenue, AUM, or funding activity; the firm operates as a regional, relationship-driven advisory practice that competes primarily on fiduciary duty, local presence, and advisor credentials rather than on technology differentiation.
Commonwealth Financial Services firmographics
Firmographics- Name
- Commonwealth Financial Services
- Legal name
- Commonwealth Financial Services
- Website
- https://cfswv.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Commonwealth Financial Services is an independent, fee-based Registered Investment Advisory firm founded in 2003 serving pre-retirees, retirees, small business owners, and specialized regional clients across West Virginia and Ohio through five offices and a team of eight advisors.
- Ownership category
- akta.pro rank
Commonwealth Financial Services industry classification
Industry- Product category
- Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Fee-Only Advisory (FSAEAAAL)
- akta.pro secondary industry
- Discretionary Portfolio Management (Retail) (FSAAAAAH)
Keywords
Where Commonwealth Financial Services is headquartered
LocationHeadquarters
- HQ city
- Parkersburg
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Commonwealth Financial Services business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Wrap Fee Advisory Services: Comprehensive financial planning services are included as part of wrap fee services, where clients pay an all-inclusive fee for advisory and investment management services.
- Hourly Consulting Services: Hourly consulting services are offered for clients who want guidance on specific financial goals rather than comprehensive planning.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Wrap Fee Advisory Services - comprehensive financial planning included |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Commonwealth Financial Services product offering
Product offeringCore offering
Commonwealth Financial Services is a fee-based Registered Investment Advisory firm that provides comprehensive financial planning, personalized investment strategies, and retirement planning to individuals and families, primarily in the Ohio Valley region. Planning services are bundled into wrap fee arrangements, and additional capabilities include estate planning, income planning, education planning, tax strategies, oil and gas royalty planning, and insurance solutions.
Product overview
Commonwealth Financial Services offers a unified financial advisory practice with three core services: Financial Planning, Investment Strategies, and Retirement Planning. The firm provides comprehensive wrap fee services that include financial planning, along with a suite of additional planning services including estate planning, income planning, education planning, tax strategies, portfolio risk analysis, investment risk management, employer-sponsored retirement plans, oil and gas royalty planning, life insurance, disability insurance, and long-term care insurance. The firm uses eMoney financial planning software and provides client access to third-party brokerage platforms including Orion, Fidelity, and Charles Schwab.
Differentiator
Problem solved
Functional benefit
Products and services
- Financial Planning Comprehensive financial planning services included as part of wrap fee services, helping clients address their goals for the future, with eMoney software consolidating financial and lifestyle information. Hourly consulting services are also available for clients who want guidance on specific financial goals rather than comprehensive planning.
- Investment Strategies Investment monitoring and portfolio management with strategies tailored to each client's risk tolerance, assessed through a research-backed questionnaire, designed to remove emotional decision-making from investing.
- Retirement Planning Retirement planning services including Social Security timing decisions, retirement income maximization, and healthcare cost planning, with ongoing reviews to monitor progress toward retirement goals.
- Estate Planning Services Planning services to help clients structure their wealth transfer to beneficiaries, offered as an add-on to the firm's core advisory services.
- Oil and Gas Royalty Planning Specialized financial planning for oil and gas landowners in the Ohio Valley region, addressing royalty income management, lump-sum payment investment, and related tax implications.
- Insurance Planning Solutions Insurance products and planning services covering life insurance, disability income protection, and long-term care insurance to support client risk management needs.
- Employer-Sponsored Retirement Plan Advisory Advisory services for employer-sponsored retirement plans, including 401(k) accounts, supporting individuals and small business plan sponsors.
- Hourly Consulting Services Hourly consulting services for clients seeking guidance on specific financial goals rather than the firm's comprehensive wrap fee planning engagement.
Quantifiable outcome
- Team of 8 advisors with over 130 years combined experience
- +1 more outcomes
Companies that use Commonwealth Financial Services
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles4 records
Commonwealth Financial Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature2 records
Commonwealth Financial Services partnerships and signals
Strategic signalScale indicators3 records
Recent moves5 records
Expansion highlights4 records
Commonwealth Financial Services competitors and assessment
Company assessmentBroad incumbents
- Moneta Group: Fee-only RIA serving high-net-worth individuals and families with comprehensive planning, retirement, and investment management. Comparable service offering to CFS and a strong comparable for the retirement-income planning thesis.
- Wealth Enhancement Group: National, acquisition-oriented RIA platform that acquires independent advisor firms and provides them with centralized operations. Relevant both as a likely acquirer and as a comparable scaled RIA model.
- Carson Group: Large RIA-supporting partnership platform that recruits independent advisors and provides them with technology, coaching, and back-office. Relevant as a strategic exit partner and competitive RIA consolidator.
- Sanctuary Wealth: Partnership model for independent advisors seeking a home with centralized operations. Comparable partnership-style alternative to staying independent and a likely strategic peer.
Direct peers
- Creative Financial Group: Independently owned RIA in the Ohio Valley/Pennsylvania region providing retirement planning, investment management, and estate strategies. Comparable regional footprint and pre-retiree segment orientation.
- Foster & Motley: Fee-based, fiduciary RIA based in Cincinnati serving Ohio and the broader Midwest with financial planning, investment management, and retirement planning. Closely comparable in model, regional geography, and pre-retiree/retiree client focus.
- Bartlett Wealth Management: Cincinnati-based fee-only RIA serving individuals and families with comprehensive financial planning and investment management. Comparable fee-only advisory model and Ohio regional presence.
- Modera Wealth Management: Fee-only RIA serving individuals, families, and small businesses across multiple East Coast and Midwest states with comprehensive financial planning. Comparable fee-only model and small/mid-market client focus.
- Budros, Ruhlin & Roe: Columbus, Ohio-based fee-only RIA managing portfolios and financial plans for high-net-worth individuals and retirees. Comparable fiduciary RIA model with similar client personas.
- H.C. Denison Co. Ohio-based independent RIA offering fee-based financial planning, retirement, and investment advisory services to individuals and families. Comparable size, RIA structure, and Midwestern regional focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Commonwealth Financial Services social profiles
Digital presenceCommonwealth Financial Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Commonwealth Financial Services leadership team
Management profileNumber of profiles
Profiles7 records
Commonwealth Financial Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Commonwealth Financial Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Commonwealth Financial Services
What does Commonwealth Financial Services do?
Commonwealth Financial Services is a fee-based Registered Investment Advisory firm that provides comprehensive financial planning, personalized investment strategies, and retirement planning to individuals and families, primarily in the Ohio Valley region. Planning services are bundled into wrap fee arrangements, and additional capabilities include estate planning, income planning, education planning, tax strategies, oil and gas royalty planning, and insurance solutions.
Is Commonwealth Financial Services a public or private company?
Commonwealth Financial Services is a private company. It is classified as management employee owned and is currently operating.
When was Commonwealth Financial Services founded?
Commonwealth Financial Services was founded in 2003. It employs 11 to 50 people.
Where is Commonwealth Financial Services based?
Commonwealth Financial Services is headquartered in Parkersburg, United States, in the North America region.
How does Commonwealth Financial Services make money?
Two revenue lines are on record. Wrap Fee Advisory Services are the primary driver. The others are hourly Consulting Services.
Who are Commonwealth Financial Services's main competitors?
Broad incumbents on record are Moneta Group, Wealth Enhancement Group, Carson Group and Sanctuary Wealth. Direct peers are Creative Financial Group, Foster & Motley, Bartlett Wealth Management, Modera Wealth Management, Budros, Ruhlin & Roe and H.C. Denison Co..
Does Commonwealth Financial Services have an API?
No public API is recorded for Commonwealth Financial Services.
What industry is Commonwealth Financial Services in?
Commonwealth Financial Services's product category is Wealth Management. Its primary akta.pro industry code is FSAEAAAL, Fee-Only Advisory, with a secondary code of FSAAAAAH, Discretionary Portfolio Management (Retail). Its NAICS code is 523940 and its SIC code is 6282.