Commonwealth Financial Networkfeatured
29 Sawyer Road
Waltham, MA 02453
Clearing firm: National Financial Services LLC, Pershing LLC
No. advisers: 2,092
Year founded: 1979
Year end: Dec. 31
No. of retail offices: 1,303
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.
|No. of reps||2,092||2,073||1,965|
|No. of producing reps||1,710||1,654||1,592|
|No. of reps producing $100K-$499K /year||949||940||895|
|Total revenues: Other||$147,520,179||$123,121,650||$116,714,329|
|Total account assets||$114,420,000,000||$101,400,000,000||$96,786,000,000|
|Total account assets: Other||$52,470,000,000||$47,375,700,000||$48,361,000,000|
|Average assets per rep||$54,694,073||$48,914,616||$49,254,962|
|Social Media & Mobile|
|Allows advisers to use social media||Y|
|Social media sites allowed||Facebook|
|Dedicated mobile application for advisers?||Y|
|Primary purpose of mobile application||Mobile Check Deposit Trading Portfolio/Performance Workflow/Alerts Business Analytics Compensation|
May 16, 2017 - For over a year, CEOs of top broker-dealers have been peppered with questions by analysts who cover their companies about fees. Can firms sustain their current level of fees they charge clients in the new era of the fiduciary adviser? Will they be cut,...
May 16, 2017 - Broker-dealers, which loudly complain about increasing costs due to regulation such as the Department of Labor's fiduciary rule, are actually seeing one regulatory expense decrease this year: the annual assessment firms pay to the Securities Investor...
May 1, 2017 - After a strong recruiting year in 2016, large broker-dealers continued to ring up recruiting gains in the first quarter. For example, Ameriprise Financial Inc. said that close to 100 veteran advisers moved their practices to the firm in the first quarter,...
May 1, 2017 - Integration means different things to different people, but in our industry, I liken it to the holy grail of financial technology. Why? Integrated systems improve efficiency, allowing you to, for example, input a piece of data once and automatically share...
April 23, 2017 - Top 50 IBDs ranked by 2016 revenue Bubble view By group Table view Firm 2016 revenue ($M) % change vs. 2015 2016 commission revenue ($M) % change vs. 2015 2016 fee revenue ($M) % change vs. 2015 2016 other revenue ($M) % change vs. 2015 1 LPL Financial...
April 22, 2017 - As commission revenue continued its decline in 2016 and headwinds from regulators stiffened, the independent broker-dealer industry hit a wall, with the top 25 firms â€” those with roughly $250 million and more in total revenue â€” collectively reporting...
April 6, 2017 - A former Commonwealth Financial Network broker has been barred from the brokerage industry for failing to appear at a Finra disciplinary hearing for his alleged participation in several pyramid schemes. Lloyd Dotson, who could not be reached for comment,...
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,...
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 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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Financial advisers need to walk clients through what-if scenarios much further down on the longevity curve than what they're including in their conversations with them today, says Jamie Price, president and CEO of Advisor Group.
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