Commonwealth Financial Networkfeatured
29 Sawyer Road
Waltham, MA 02453
Clearing firm: National Financial Services LLC, Pershing LLC
No. advisers: 2,073
Year founded: 1979
Year end: Dec. 31
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|No. of reps||1,699||2,073||1,965|
|No. of producing reps||—||1,654||1,592|
|No. of reps producing $100K-$499K /year||—||940||895|
|Total revenues: Other||$123,121,650||$116,714,329||$97,639,127|
|Total account assets||$101,400,000,000||$96,786,000,000||$85,992,000,000|
|Total account assets: Other||$47,375,700,000||$48,361,000,000||$45,195,000,000|
|Average assets per rep||$48,914,616||$49,254,962||$46,582,882|
|Social Media & Mobile|
|Allows advisers to use social media||Y|
|Social media sites allowed||Facebook|
|Dedicated mobile application for advisers?||Y|
|Primary purpose of mobile application||Mobile Check Deposit Trading Portfolio/Performance Workflow/Alerts Business Analytics Compensation|
February 21, 2017 - Some advisers at Merrill Lynch are not happy with the wirehouse's newly minted policy of embracing advisory over commission relationships in retirement accounts. Ron Edde, president and chief executive of Millennium Career Advisors, a recruiting firm,...
February 9, 2017 - Assuming the Department of Labor's fiduciary rule survives the river of legal and legislative challenges, the brokerage industry should expect to absorb between $70 million and $150 million annually in class-action litigation costs. The price-tag range,...
February 7, 2017 - Sen. Elizabeth Warren, D-Mass., told Acting Labor Secretary Edward Hugler today that financial firms back the investment-advice rule whose implementation he is likely to delay as part of a review ordered by President Donald Trump. In a letter to Mr. Hugler,...
February 6, 2017 - With the Department of Labor's fiduciary rule now shrouded in uncertainty, large brokerage firms are taking a step back to understand what potential options they may have if the rule changes or simply goes away altogether. The final version of a memo...
February 3, 2017 - As our industry continues to evolve, investment management becomes commoditized, and fiduciary responsibility takes center stage, it's more important than ever to earn your clients' trust, so they feel more comfortable turning to you for all their financial...
January 24, 2017 - Striking a conciliatory tone with broker-dealers, Robert Cook, the recently appointed head of Finra acknowledged Monday night that he'd heard loud and clear the complaints brokerage industry executives had with their principal regulator. Since stepping...
January 22, 2017 - The 2017 InvestmentNews independent-broker-dealer directory is based on information provided by 90 eligible firms. To be considered for future listings, contact INResearch@investmentnews.com. Visit InvestmentNews.com/bddata for more-complete profiles....
January 22, 2017 - If past is prologue, 2017 should see a steady pace of independent broker-dealer consolidation and mergers and acquisitions. Last year saw transactions involving firms that house thousands of registered reps and financial advisers as the industry scrambled...
January 12, 2017 - Senior executives at leading independent broker-dealers are split in their assessment of recruiting over the first half of this year, with some expecting a strong start to 2017, while others are not as sanguine. Confusion in the recruiting market caused...
January 11, 2017 - The specter of the Department of Labor's fiduciary rule is accelerating the demise of L-share variable annuities. Variable annuities sold in an L-share class had already been reeling prior to the DOL issuing the final version of its conflict-of-interest...
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2015 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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