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David Licary

Commonwealth Financial Network
32 Years of Experience
Roscoe, IL
3 DisclosuresBrokerSells Insurance
View SEC Summary
View SEC Summary

David Licary is a registered investment advisor at Commonwealth Financial Network, based in Roscoe, IL, with 32 years of industry experience. David is also registered as a broker, so some compensation may come from commissions on products sold. Their practice areas include Alternative Investments, Annuities, Business Owners, Charitable Giving, and 10 more. Their firm serves 360,488 clients with $210B in assets under management.

Commonwealth Financial Network
Compensation
Commission-BasedFee-Only (% of Portfolio)Fixed/Hourly
Firm Size
2904 advisors
Number of Clients
360,488 clients
Average Client Portfolio
$590K average
Assets Under Management
$212.7B

Fee Structure

Minimum Investment:$25K
Planning is included in investment management (also available separately)
Minimum Annual Fee:$600
Portfolio-Based Fees (Tiered)
Portfolio ValueAnnual Fee
Up to $750K2.25%
$750K - $1.0M2.00%
$1.0M - $2.0M1.75%
$2M+1.50%

Fees are negotiable. Schedule represents maximum allowable annual management fees for PPS Custom programs. Other programs like PPS Select and PPS Direct have separate advisor and program fee schedules.

Fee Estimator
Your Portfolio Value
$500K
$0$500K$1M$5M$20M
Estimated Annual Fee
—
View Full SEC Brochure

Location

10772 Main Street, Suite 1, Roscoe, IL, 61073

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History

Regulatory History (3)
What are disclosures? Advisors must report customer complaints, regulatory actions, and certain legal or financial events to the SEC. Not all disclosures are serious—many are settled disputes or minor violations. Learn how to evaluate them.
Regulatory
January 2013
Final
Customer Dispute
September 2006
Closed-No Action
Customer Dispute
June 2005
Settled
View Full SEC ReportHow to Read Disclosures
Other Business ActivitiesSells Insurance

David sells fixed insurance, dedicating minimal time to this activity. He is also a co-owner of Strategic Wealth Management, a private entity facilitating securities, advisory, and insurance business, taking up nearly all of his time.

Employment History
Current Registrations
Commonwealth Financial Network
April 2025 - Present · 1 yr 6 mos
Commonwealth Financial Network
April 2025 - Present · 1 yr 6 mos
Commonwealth Financial NetworkBroker
April 2025 - Present · 1 yr 6 mos
Previous Registrations
Osaic Wealth, INC.Broker
June 2024 - April 2025 · 10 mos
Osaic Wealth, INC.
June 2024 - April 2025 · 10 mos
Securities America Advisors, INC.
November 2016 - June 2024 · 7 yrs 7 mos
Securities America, INC.Broker
November 2016 - June 2024 · 7 yrs 7 mos
Cetera Advisor Networks LLC
November 2015 - November 2016 · 1 yr
Cetera Advisor Networks LLCBroker
October 2015 - November 2016 · 1 yr 1 mo
Metlife Securities INC.
February 2013 - November 2015 · 2 yrs 9 mos
Metlife Securities INC.Broker
August 2005 - November 2015 · 10 yrs 3 mos
Metlife Securities INC.
August 2005 - January 2013 · 7 yrs 5 mos
Metropolitan Life Insurance CompanyBroker
August 2005 - July 2007 · 1 yr 11 mos
Thrivent Investment Management INC.Broker
July 2002 - August 2005 · 3 yrs 1 mo
Lutheran Brotherhood Securities CORP.Broker
February 1999 - July 2002 · 3 yrs 5 mos
Aal Capital Management CorporationBroker
October 1993 - February 1999 · 5 yrs 4 mos
State Registrations18 states
ALAZCACOFLIAILINKYMINCNVNYSCTNTXVAWI
AdvisorBrokerBoth

You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.

Exams
No exam information available for this advisor.
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