Advisor at Commonwealth Financial Network
Data sourced from SEC public records (and other sources when available). Some details may be added by the advisor after claiming their profile. Refreshed daily • Updated today.
Firm
Commonwealth Financial Network
Location
La Grange, TX 78945
Credentials
Series 63, Series 66
Industry experience
19 years
Derek Thorp is a financial advisor at Commonwealth Financial Network with 19 years of industry experience. He holds Series 63 and Series 66 licenses and has previously worked at LPL Financial and Wells Fargo Advisors. Thorp is the owner of MFG Wealth, LLC, a private entity facilitating securities, advisory, and insurance business. Commonwealth Financial Network is a registered investment adviser serving a national network of approximately 2,950 advisors and their clients. The firm provides a range of advisory programs and support services, including wealth management, retirement plan consulting, and access to model portfolios managed by its Investment Management and Research team.
Based on Commonwealth Financial Network
Based on Commonwealth Financial Network
Flat or fixed fees available for consulting services, including wealth management, retirement plan consulting, and HSA consulting.
$0 - $750,000: 2.25% $750,000 - $1,000,000: 2.00% $1,000,000 - $2,000,000: 1.75% $2,000,000+: 1.50%
Advisors may receive commissions on securities transactions and insurance products; additional transaction charges may apply in certain programs.
Up to $500 per hour for consulting services.
Account minimum: $1,000 Fee-only: Annual fees negotiable; fees based on percentage of assets under management; no performance-based fees.
262 West Colorado Street
La Grange, TX 78945
Texas
Meservey Financial Group
2025 - Present (1 year)
Commonwealth Financial Network
2025 - Present (1 year)
LPL Financial
2019 - 2025 (6 years)
Wells Fargo Clearing
2016 - 2019 (3 years)
WELLS FARGO Advisors, LLC
2011 - 2016 (5 years)
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Is active or affiliated with:
Insurance agent
They sell insurance products and may earn commissions on those sales.
Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
Bank
They're affiliated with a bank that may offer its own financial products and services.
Is not active or affiliated with:
Trust company
They provide trust and estate administration services, typically for separate fees.
Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
Lawyer
They provide legal services, typically billed separately.
Real estate agent
They facilitate real estate transactions and may earn commissions.
Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Series 65
West Islip, NY
Anova Management
CFP®, Series 63, Series 65
La Grange, TX
Illumination Wealth Management
Series 63
Fayetteville, TX
intrua Financial
Series 63, Series 65
Lagrange, TX
Momentum Independent Network Inc.
Series 66
La Grange, TX
Cetera
Series 66
La Grange, TX
Edward Jones
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