Commonwealth Financial Network

Commonwealth Financial Networkfeatured

Share:

29 Sawyer Road

Waltham, MA 02453

(866) 462-3638

commonwealth.com

Clearing firm: National Financial Services LLC, Pershing LLC

No. advisers: 2,073

AUM: $101,400,000,000

Year founded: 1979

Year end: Dec. 31

No. of retail offices: 1,303

You are currently viewing a limited portion of this firm's profile.

Subscribe or log in to the B-D Data Center for access to all available data.

Additional data available to subscribers:
  • No. of reps, male
  • No. of reps, female
  • No. of producing reps, male
  • No. of producing reps, female
  • No. of reps producing $500K+ /year
  • No. of CFPs
  • No. of full-time employees
  • No. of fee-based advisers served
  • Average payout per rep, per year
  • Avg. annual production of top 20% reps
  • Total payout, per year
  • Cost of E&O insurance per rep, per year
  • Affiliation fees charged per rep, per year
  • Affiliation fee coverage
  • Securities revenues
  • Securities revenues: Stocks
  • Securities revenues: Bonds
  • Securities revenues: ETFs
  • Securities revenues: Other
  • Mutual fund revenues
  • Annuities revenues
  • Annuities revenues: Fixed
  • Annuities revenues: Variable
  • Annuities revenues: Other
  • Insurance revenue
  • Insurance revenues: Life
  • Insurance revenues: Disabilities
  • Insurance revenues: LTC
  • Insurance revenues: Other
  • Alternative revenues
  • Alternative revenues: Hedge funds
  • Alternative revenues: Managed futures
  • Alternative revenues: Private placements
  • Alternative revenues: REITs
  • Alternative revenues: Other
  • Other commission revenues
  • Fee revenues: Rep-managed accounts
  • Fee revenues: Firm-managed accounts
  • Fee revenues: Outside-managed accounts
  • Fee revenues: Other
  • Fee-based assets: Clearing firm
  • Fee-based assets: Advisory firm platforms
  • Fee-based assets: Third-party money managers
  • Fee-based assets: Other
  • Is the firm, or an affiliate of the firm, registered as an investment adviser with the SEC?
  • Allows an adviser to have his/her own RIA
  • RIA platform AUM
  • Offers robo-advisory platform?
  • If not, when plans to offer a robo-platform
  • Robo-advice services offered
  • How robo-platform developed
  • Charge for robo-advisory services?

For More Information

CEOWayne M Bloom
Recruiting ContactAndrew H Daniels
(866) 462-3638
E-mail
Compliance ContactPaul J Tolley
(781) 736-0700
E-mail
Marketing ContactTodd H Estabrook
(781) 736-0700
E-mail
Technology Operations ContactDarren A Tedesco
(781) 736-0700
E-mail

Company Overview

Commonwealth is home to advisors earning the highest average annual payout among independent broker/dealers, as reported by InvestmentNews (April 2015). Discover how the broker/dealer's RIA that's held true to its founding mission for more than 35 years can help you and your clients thrive.

In their own words: Commonwealth advisors speak

We invite you to take two minutes to hear a few of our advisors talk about their experience at Commonwealth. Then contact us to discover for yourself a community of peers that's unlike any you've experienced and the virtually unlimited opportunities available to help you serve your clients your way.

Additional Resources

2016 2015 2014
No. of reps2,0922,0731,965
No. of producing reps1,7101,6541,592
No. of reps producing $100K-$499K /year949940895

Payout grid is available to Data Center subscribers only.

Subscribe or log in to the B-D Data Center for access to all available data.

2015 2014 2013
Total revenues$1,006,829,973$950,310,266$822,114,509
Commission revenues$286,544,411$296,328,982$284,093,913
Fee revenues$597,163,912$537,266,955$440,381,469
Total revenues: Other$123,121,650$116,714,329$97,639,127
2015 2014 2013
Total account assets$101,400,000,000$96,786,000,000$85,992,000,000
Fee-based assets$54,024,300,000$48,425,000,000$40,797,000,000
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 mediaY
Social media sites allowedFacebook
LinkedIn
Twitter
Dedicated mobile application for advisers?Y
Primary purpose of mobile applicationMobile Check Deposit Trading Portfolio/Performance Workflow/Alerts Business Analytics Compensation

DOL fiduciary rule class-actions costs could top $150M a year

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,...

Senator Elizabeth Warren tells acting DOL secretary, 'Financial firms back fiduciary rule'

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,...

Despite new review of DOL fiduciary rule, firms are sticking with higher standard of care

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...

How to Earn Your Clients' Trust

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...

Finra's new chief Robert Cook vows to take a 'fresh look' at enforcement

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...

Top independent broker-dealers reveal their payout tables

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....

Broker-dealers have different views on recruiting over next six months

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...

DOL fiduciary rule hastening death of L-share variable annuities

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...

Cambridge's Eric Schwartz looks into the future of independent broker-dealer industry

December 29, 2016 - Eric Schwartz, founder, chairman and CEO of Cambridge Investment Research Inc., is one of the brightest guys in the securities business. One of the most unassuming, too. He started a predecessor to Cambridge in the 1980s but struggled with it due to its...

Coming off a disastrous 2016, sales of nontraded REITs could bounce back in 2017

December 27, 2016 - After a disastrous 2016, industry analysts and executives are cautiously optimistic that sales of nontraded real estate investment trusts will bounce back next year. There are a number of reasons why sales of nontraded REITs, declined from nearly $10...

    Notes
  • 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.

Purchase the complete set of our independent broker-dealer data and profiles in an Excel spreadsheet.

For comments or suggestions about the Adviser Center, please contact us.

Disclaimer: All data and information is the property of InvestmentNews and is protected by copyright and other intellectual property laws. All rights are reserved by InvestmentNews. The data may only be used for internal business use such as to develop a mailing list but the data may not be resold, republished, redistributed, sublicensed or publicly displayed on a web site without the permission of InvestmentNews. All information contained within was obtained through InvestmentNews' annual independent B-D surveys.