Commonwealth Financial Network
Q&A:What is the service or product you offer to RIAs?
Commonwealth offers five different ways to affiliate to give you and your clients the best possible combination of benefits.
If you choose to run your advisory and financial planning business through your own RIA, Commonwealth makes it easy for you to experience all the advantages of that business model—without the responsibilities of maintaining your own infrastructure. You create the fee structure that works for you and enjoy complete flexibility in how you market and run your business. We’re behind you with all the resources and support you need to operate your practice on your terms. Like our in-house team of compliance experts, whom you can call at any time with questions, and our surveillance reports that help you manage your state compliance obligations. Plus, fully integrated technology that features everything from trading and CRM to document storage and performance reporting—on a single platform. Our IT HelpDesk is available six days a week, with experts standing by to answer your questions and provide live, remote support. You can also take advantage of discounts to third-party specialists we’ve done the due diligence on, who can provide you with regulatory guidance.
Or, you may opt to conduct an exclusively fee-based business as an IAR of Commonwealth and gain access to the full array of investment choices your clients demand through our Preferred Portfolio Services® (PPS) programs and approved third-party platforms. You can also tap into institutional-quality analysis provided by an award-winning research team and count on full compliance oversight. How do you differentiate your offering from competitors?
As the nation’s largest privately held independent broker/dealer–RIA, we’ve held true to our founding vision: accountability to our advisors and their clients alone and not to shareholders, stock prices, or a parent company. We’ve built a 36-year reputation on the principle that our business model should support yours, and because we answer only to you, we’re able to make decisions with you—not for you—to support you in every way.
This means that no matter which business model you choose—RIA-Only, corporate RIA, dual registration, hybrid, or traditional representative—you can rely on us to deliver the right combination of infrastructure, expertise, and indispensable service to help you serve your clients and drive your business your way, including:
• Fully integrated technology
• Compliance support and tools
• Practice management consulting
• Institutional-quality research and analysis
• Advanced planning expertise
• A seamless transition
Because we recognize that where you are today may be different from where you see yourself going in the future, our range of models and infrastructure are designed to work for you now and as your business evolves.
And it’s all backed by a community of people who are as passionate about your success as you are. Our industry-leading 2.3:1 advisor-to-staff ratio means you can count on us to be there when you need it. And direct access to experts at every level ensures that your voice is heard and your needs are addressed. All to help you be exactly the kind of advisor you want to be. What else would you like to say about your business?
Ultimately, what truly defines us as a different kind of broker/dealer–RIA is our distinct culture. Quite simply, we love what we do. It starts at the top with our 11 managing partners, who not only get along, but also have a genuine affection for one another—and extends to the more than 700 staff who have helped make us a 30-time Best Place to Work winner. All of this has a ripple effect on helping us deliver the most satisfying and productive experience possible for you. So you can feel confident focusing your time and energy on adding value to your clients’ financial lives.
|Net-net, an energy glut affords big benefits but the systemic shock, markets, economies and geopolitics, pose plausible threats|
|More. But at about 14.75x forward earnings, or the levels of mid-2013, so far, so normal.|
|As smaller IBDs struggle for ground against the giants, they need to first demonstrate their tenacity on the sales gridiron|
|One trick, Wayne Bloom says, is that he relentlessly squeezes feedback out of his 1,600 advisors|
|Patrick Sheppard is ready for the hands-on life and New England Investment and Retirement is looking for a steady executive hand|
|The former Dell guru eschews a best-of-breed strategy as his firm plays a game of catch-up under a big tent|
|IBD execs are pulling out the stops to court a finite pool of advisors in motion|
|Tom Bartholomew says that his pull with Commonwealth gives him more time with clients and extra-responsive service|
|The two firms ranked one and two for independent advisor satisfaction among financial investment firms; Schwab is third in the employee-advisor category|
|Summit Financial wanted greater pension expertise|
|The embattled Omaha IBD did not go down without a fight and it may be effectively slowing further losses with retention bonuses|
|Commonwealth replaces Fidelity technology; Cetera snags Gene Goldman; an LPL vet, and upstart ETF Store takes another page out of Adam Bold's book|
|Scandal soured the advisors on the Securities America and set them on a search for a firm with a compatible culture|
|The company is seeking to address the issue of having 65% of its advisors still managing assets themselves rather than using managers|
|The big IBD wasn't impressed with the value presented by third-party performance reporting companies |
|Baby Boomers' expectations and rising technology could put a new squeeze on the old model|
|The five big Commonwealth advisors had some knowledge of each other but made their own decisions|
|Breakaways say they appreciate the economic boost and that it makes them feel welcome|
|The former Commonwealth advisor also had goals related to succession, compliance and a bigger bottom line|
|Barnaby Grist has been laying the groundwork for the incentives change for a year|
|The IBD is competing with LPL, holding ground against RIAs and flexing its muscles, analysts say|
|Some IBDs are morphing into Super RIAs that make money by charging for oversight of fee-based assets|
|Jim Warren made personal pleas to Art Tambaro but a small IBD nabbed his RIA|
|Leading a double life is not for the faint of heart|