INVESTMENT MANAGEMENT AND RESEARCH TEAM BIOGRAPHIES · Select platform, Chris also assists...

Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser.

INVESTMENT MANAGEMENT AND RESEARCH TEAM BIOGRAPHIES

As chief investment officer, Brad chairs the Investment Committee and is the primary

spokesperson for Commonwealth’s investment divisions. Brad received his BA from

Dartmouth College, an MS from MIT, and an MS from Boston College. He has worked

as a real estate developer, consultant, and lender; as an investment analyst, manager, and

consultant; and as a start-up executive. He has started and run several companies. Other

professional qualifications include designated membership in the Appraisal Institute (MAI),

the CFA Institute, and the CAIA Association.® Brad speaks around the country on investment

issues and writes for industry publications, as well as daily on his blog, The Independent

Market Observer.

BRAD MCMILLAN, CFA,® CAIA, MAI

Senior Vice President, Chief Investment Officer



BRIAN PRICE, CFA®

Vice President, Investment Management and Research

Brian began his Commonwealth career in February 2003. As vice president of investment

management and research, he assists with the asset allocation, fund selection, and overall

management of the PPS Select program. Brian has more than 15 years of industry experience,

having previously worked for Bernstein Investment Research & Management as a senior

financial advisor associate. He graduated from Georgetown University with a BA in American

government. In addition to holding FINRA Series 7, 63, and 65 securities registrations,

Brian is a CFA® charterholder.



Susan began working at Commonwealth in August 2008. As director of investment

management and research, Susan’s primary responsibilities include analysis, approval, and

ongoing monitoring of all products within alternative financial strategies (e.g., managed

futures, hedge funds, private equity, structured products). She also assists advisors with

case design and asset allocation decisions, reviews client portfolios, and evaluates current

and potential investment managers and asset management firms for the fee- and

commission-based platforms at Commonwealth. Prior to joining Commonwealth,

Susan held positions at Citizens Advisors in Portsmouth, New Hampshire; John Hancock

Advisers in Boston; and Citigroup/Smith Barney in New York City. She holds a BS in

management with a concentration in finance from Purdue University and an MBA from

New York University.

SUSAN KELLY, CAIA

Director, Investment Management and Research



As director of real assets, Chad is responsible for analysis, approval, and ongoing monitoring

of all products with real assets as the underlying investments (e.g., real estate, infrastructure,

natural resources, commodities). In addition, he trains and educates our advisors through

print and web-based media. Chad joined Commonwealth’s Waltham office in February

2000 and moved to our San Diego office in 2001. During his tenure with the firm, he has

been a transfer of assets analyst and a member of the Account Services and Fee-Based Asset

Management teams. In 2005, he joined the Investment Research team as an alternative

investment analyst. Previously, Chad worked for Investors Bank & Trust. Chad graduated

from Bates College with a degree in economics, is a CFA® charterholder, and holds the CAIA

designation and FINRA Series 7, 24, 63, and 65 securities registrations.

CHAD LAFAUCI, CFA®, CAIA

Director, Real Assets



JIM MCALLISTER, CFA®

Director, Equity Research

Jim joined Commonwealth and the Investment Research team in September 2008. Jim is the lead

analyst for the international and emerging markets asset classes, responsible for manager evaluation,

manager selection, and dissemination of research. In addition, he is responsible for inquiries on

equity portfolio construction, individual equity research, and equity portfolio revenues. Prior to

Commonwealth, Jim was a fundamental equity research analyst for Loomis, Sayles & Co. for seven

years, where he followed the industrial, materials, and telecom sectors. Prior to that, Jim worked

as a research analyst at State Street Global Advisors in the U.S. active quantitative group for three

years. In addition to earning a BS in finance from Lehigh University, Jim is a CFA® charterholder.



PETER ESSELE, CFA®, CAIA

Portfolio Manager, Investment Management

Peter joined Commonwealth in October 2004. As a member of the Research team, Peter

is responsible for responding to inquiries from our advisors on various investment topics,

including asset allocation, mutual funds, exchange-traded funds, and separate account

managers. In addition, he supports the Research team in creating reports, commentary, and

investment manager profiles, as well as on other investment-related project work. He is also a

member of the Asset Management team, which oversees PPS Select and the Commonwealth

Model Portfolios. Peter graduated from Union College, where he earned his BS in industrial

economics. In addition to holding FINRA Series 7, 24, 31, 53, and 66 securities registrations,

Peter has the CAIA designation and is a CFA® charterholder. He is also a member of the

Boston Security Analysts Society.



Chris joined Commonwealth in December 2014 as a portfolio manager. In this role, he

helps in managing the PPS Select portfolios. He is responsible for asset allocation, security

selection, and ongoing portfolio monitoring. In addition to his responsibilities on the PPS

Select platform, Chris also assists Commonwealth advisors with questions pertaining to their

own model portfolios. His experience consists of 20 years of small- and mid-cap stock research

and managing small- and mid-cap value portfolios for institutional and high-net-worth clients

prior to Commonwealth. Chris earned his degree in economics from Bates College and his

MBA from UNC Kenan-Flagler Business School.

CHRIS FASCIANO

Portfolio Manager, Investment Management



FRED DEBAETS

Portfolio Manager, Fixed Income

Fred joined Commonwealth in May 2009. As a portfolio manager, Fred manages the PPS

Select Fixed Income SMA strategies. He is responsible for security selection, portfolio overview,

and ongoing account monitoring. Fred is also responsible for idea generation regarding

opportunities in the fixed income market. In addition, he assists with fixed income research,

as well as researching industry trends related to the fixed income market. Prior to joining

Commonwealth, Fred worked in fixed income at both Morgan Stanley and Bear Stearns. He

graduated from Plymouth State University with a double major in financial management and

economics and proceeded to get his MBA from Plymouth as well.



Andrew joined Commonwealth in August 2014 as an investment research analyst. In his

current role, he is responsible for asset allocation research and mutual fund due diligence for

the PPS Select portfolios. In addition, he is responsible for advisor inquiries related to portfolio

construction, asset allocation, and market-/economic-oriented issues. Prior to Commonwealth,

Andrew worked for LPL and Bank of America. He graduated from Emory University with a

dual degree in economics and history, with a concentration in East Asia studies.

ANDREW KITCHINGS

Senior Investment Research Analyst



Meagan joined Commonwealth in January 2011 as a senior fixed income analyst and

transitioned to manager, fixed income research in January 2015. In this role, she is responsible

for inquiries on fixed income portfolio construction and design and for idea generation with

regards to opportunities in the fixed income market. In addition, she assists with fixed income

research, as well as researching industry trends related to the fixed income market. Prior to

joining Commonwealth, Meagan worked for a number of investment management firms.

She worked at Babson Capital Management as a research associate in the corporate credit

department, Fidelity Management & Research as a research associate in the high income

group, and most recently Acuity Capital Management as a credit analyst and trader. Meagan is

also a CFA® charterholder and is currently a candidate for the CFP® certification.

MEAGAN SWANSON, CFA®

Manager, Fixed Income Research



BRIAN MCCORMICK, CIMA,® CRPS,® AIF®

Senior Research Analyst, Small- and Mid-Cap

Brian joined Commonwealth in August 2004 as a member of Commonwealth’s Retirement

team. In January 2008, he joined the Research team as an investment research associate.

Brian is the lead analyst for the small- and mid-cap asset classes, responsible for manager

evaluation, manager selection, and dissemination of research. Brian also conducts research

and due diligence on exchange-traded funds and provides commentary on the ETF industry.

In addition, he supports the Research team in creating reports, commentary, and investment

manager profiles, as well as on other investment-related project work. Prior to Commonwealth,

he worked at Signator Financial Network and at Putnam Investments. Brian graduated from

Quinnipiac University with a BS in management/finance. He has obtained the CIMA®, CRPS®,

and AIF® designations and is a member of the Investment Management Consultants Association

(IMCA). He also holds FINRA Series 7, 24, and 63 securities registrations.



ANURADHA GAGGAR, CFA®

Investment Research Analyst

Anu began working at Commonwealth in January 2013 as a performance reporting analyst. In

this role, she designed and tested Client360°® reports and answered escalated questions about

them. She transitioned to the Investment Management and Research team in August 2014, where

she is responsible for manager evaluation, manager selection, and dissemination of research in

the international and emerging markets asset classes. In addition, she is responsible for inquiries

on equity portfolio construction, individual equity research, and equity portfolio reviews. Prior

to joining Commonwealth, Anu taught online courses in finance to master’s students at Boston

University and a few other universities while staying at home with her young daughters. Before

that, she worked for Virtua Research as an equity analyst. Anu also has experience in M&A

advisory and government bonds trading at an investment bank in India. She holds an MS in

finance from Boston College and an MBA in finance from NMIMS in India. She is a CFA®

charterholder and holds the FINRA Series 7 securities registration.



JOE MADURI, CFA®

Research Analyst, Fixed Income

After participating in Commonwealth’s Summer Internship Program, Joe came on board

full-time in August 2009 as an investment research associate. As a fixed income analyst, his

key responsibilities include analyzing individual fixed income securities, responding to advisor

requests, and assisting with fixed income market research. Joe is a CFA® charterholder and

holds his FINRA Series 7 securities registration. Prior to joining Commonwealth, Joe attended

Westfield State University. He graduated in May 2009 with a degree in business management

with a concentration in finance.



LIRA BUKUVALI

Research Associate, Equity

Lira joined Commonwealth in November 2011 as a new accounts associate and joined the

Investment Research team in April 2013. As an investment research associate, Lira supports

the mutual fund analysts and the Asset Management team by assisting with calculating,

analyzing, and updating both internal and external performance and attribution reports. She

is also involved in the investment process by attending due diligence meetings and industry

conferences. Lira also helps support our advisor force by handling general inquiries related to

our Mutual Fund Recommended List. Lira graduated from UMass with a degree in economics.



ROBERT KANE

Research Analyst, Alternatives

Rob joined Commonwealth in July 2013 as an investment research analyst. In this role, he

facilitates our due diligence and research activities on mutual funds, separate account managers,

ETFs, and fixed income securities. He has a bachelor’s degree from UMass Amherst. His

background in investments includes investment analysis and portfolio management. Rob’s

analysis experience has led him to a niche focus in alternative investments. The majority of

his career was spent at the large global wirehouses in Boston. He is a sports fan and enjoys

participating in and watching all sports. After college, he was invited to camp for an NFL team.



NATHAN PARKER, CFA®

Research Analyst, Real Assets

Nathan joined Commonwealth in September 2013 as an investment research analyst. In

this role, Nathan facilitates our due diligence and research activities on real asset-focused

investments (commercial real estate, commodities, infrastructure, and natural resources). Nathan

received his bachelor’s in business administration from California State University, Chico and

his master’s in finance from San Diego State University. He has his FINRA Series 7 and 63

securities registrations and is a CFA® charterholder. Prior to Commonwealth, Nathan worked

for LPL Financial in its San Diego home office. Before that, he was an M&A associate intern at

Bainbridge Capital, a capital advisory and management consulting firm in San Diego.



EDUARDO CIUFFO

Research Associate, Real Assets

Eduardo joined Commonwealth in March 2014 as an investment associate. In this role, he

facilitates our due diligence and research activities on real asset-focused investments. Prior

to Commonwealth, he worked at LPL Financial for about four years, where he traded and

rebalanced its SMA platforms. While at LPL, he earned a master’s in finance from San Diego

State University. He is currently a CFA® Level II candidate.



MICHAEL COMISKEY, CAIA

Investment Research Analyst

Mick joined Commonwealth in August 2015 as an investment research analyst. In this role,

he facilitates our due diligence and research activities on mutual funds, separate account

managers, ETFs, and fixed income securities. Prior to Commonwealth, Mick worked for

F-Squared Investments as an investment analyst. He attended Bentley University, where he

earned a BS in economics and finance.



NICHOLAS FOLLETT

Fixed Income Analyst

Nick joined Commonwealth in October 2010. After spending two-plus years working in

Retirement Operations and then Annuity Research, Nick joined the Investment Management

and Research team in September 2015. As a fixed income analyst, he is primarily responsible

for analyzing municipal bond funds, responding to advisor inquiries, providing analytics and

research support to the PPS Select SMA municipal bond strategies, and assisting with market

research and commentary. He also reviews client portfolios and evaluates current and potential

investment managers and asset management firms for the fee- and commission-based platforms

at Commonwealth. Nick graduated from San Francisco State University’s MBA program with

an emphasis in finance.



CHRIS STUART, CFA®

Senior Investment Research Analyst

Chris joined Commonwealth in May 2015 as a senior investment research analyst. As the lead

analyst for the large-cap equity asset class, he is responsible for manager evaluation, manager

selection, and dissemination of research. He also conducts research and due diligence on

individual equity securities, responds to advisor inquiries, and assists with market research.

Prior to Commonwealth, Chris worked at Columbia Threadneedle as an analyst on its Platform

Distribution team. He also worked as a director of research for TheStreet.com and as a senior

investment analyst for Bank of America-Merrill Lynch. Chris earned his BA in finance from

UMass Amherst. He holds FINRA Series 7 and 66 securities registrations and is a Chartered

Financial Analyst.®



SAM MILLETTE

Investment Research Associate

Sam joined the Investment Management and Research team as an investment research associate

in June 2015. In this role, his primary responsibilities include analyzing individual municipal

bonds, responding to advisor inquiries, providing analytics and research support to the PPS

Select SMA municipal bond strategies, and assisting with market research and commentary.

Before moving into his current role, Sam spent two years with the team as an intern, serving in

numerous capacities and supporting analysts across the department. Sam graduated from Tufts

University in May 2015 with a major in economics. Currently, he is a CFA® Level I candidate.

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