Why Commonwealth?
By federal regulation, all investment professionals must be affiliated with a broker/dealer; however, the firm I choose to affiliate with is completely up to me. Of the many good independent broker/dealers from which to choose, we believe that our partnership with Commonwealth Financial Network® says a lot about our firm and what makes us different from other independent representatives. A full selection of wealth management choices
Working with an independent broker/dealer means that we can select any asset we need to help you achieve your financial goals. At some brokerage firms, brokers don't always have that freedom of choice. For the most part, they must sell what the firm tells them to sell. Independence
Commonwealth was founded in 1979 as an independent broker/dealer by Joseph Deitch. Joe, then a representative at an insurance company, asked himself how a firm could ask its representatives to promote the firm's own brand of investment products to their clients and still ensure that those clients were getting objective advice. He realized there had to be a better way. And there was—he created Commonwealth. Award-winning service
Commonwealth Financial Network has won Investment Advisor magazine's Broker/Dealer of the Year award nine times, which is just one source of proof that Commonwealth is committed to providing its representatives with world-class service. It's that world-class service that allows us to spend the bulk of our time focused on our clients, not on administrative work. While the role of the independent broker/dealer goes largely unnoticed by clients, there are subtle and important differences among them that can offer you insight when evaluating a financial professional to help you pursue your financial goals. Questions to ask any financial professional:
Whom do you report to?
Only financial professionals working with an independent broker/dealer can truly say they report to their clients. Other professionals report to a sales manager who sets specific targets for sales to existing clients. How will you ever know if the recommendations provided to you by such an individual are geared to your goals or to other factors? A trusted financial professional with an independent firm can be driven by what is best for his client. Often brokers are driven by what is best for their firm. Do you make more money when you sell a product developed by your firm?
It's not uncommon for a broker to receive additional financial incentives to push his or her firm's own products. In fact, certain investment firms will not even carry the competitors' products, regardless of how well they perform. Rather, they offer “suitable substitutes.” We don't have such concerns as Commonwealth has no proprietary products. We find quality wealth management techniques and bring those to our clients.
Our Broker Dealer What is a broker
What is a broker/dealer?
A broker/dealer is a company that a registered investment professional is required to affiliate with in order to buy and sell investment products on behalf of investors. The Securities and Exchange Commission (SEC) delegates the supervision of financial advisors to the Financial Industry Regulatory Authority (FINRA). FINRA, in turn, requires us to choose a broker/dealer to partner with on your behalf.
Why Commonwealth Financial Network®?
The fact that we've chosen to work with Commonwealth Financial Network® (Commonwealth), an independent broker/dealer, means that our firm remains independent, too. We are free to act solely in your best interest, without bias and without pressure to promote a particular product or strategy. It's a model that differs from that of some other, larger financial firms known as wirehouses, whose financial representatives are accountable not just to their clients, but also to the parent company that employs them.
Commonwealth is also independently owned and managed, which means the firm retains the freedom to allocate resources where they're needed and to act in the best interests of its financial advisors and their clients—not shareholders.
How Commonwealth helps us help you
Commonwealth again ranks "Highest in Independent Advisor Satisfaction Among Financial Investment Firms" in the J.D. Power and Associates 2012 Financial Advisor Satisfaction Study℠.* But it's what that achievement means for our clients—on a daily basis—that makes the difference.
Commonwealth goes far beyond what's required of a broker/dealer; the entire organization is built around doing whatever it takes to satisfy not only the advisors who work with the firm, but the clients of those advisors as well. It's that infrastructure—and the always expanding wealth of resources it provides—that makes it easier for our firm to provide you with the best possible guidance and the prompt, personal service you expect and deserve.
- Investment choice. Your financial objectives, personal investment style, and risk tolerance are the only criteria that influence our recommendations to you. Commonwealth offers us access to a virtually limitless selection of third-party investment vehicles and truly objective, independent research from its in-house analysts, helping to ensure that we have the freedom to operate solely in your best interest.
- Service. The firm's advisor-to-staff ratio is one of the best in the industry. This means staff members answer our calls promptly, execute transactions quickly and accurately, and, in general, offer our firm the same first-class treatment we strive to give you.
- Technology. Commonwealth's technology platform is a critical component in our ability to provide you with first-class service and support. Its integrated web-based systems allow us to more efficiently manage your portfolio and your overall financial picture.
- Security. Commonwealth is second to none in its commitment to safeguarding your privacy and ensuring that your investment data remains secure. From encryption standards to disaster recovery plans and other measures the firm employs, we are confident that the information our clients entrust us with will remain secure.
If you'd like to know more
We'd be glad to talk with you further or answer any questions you may have about our affiliation with Commonwealth. Please feel free to give us a call.
*Commonwealth Financial Network® received the highest numerical score in the independent advisor segment in the proprietary J.D. Power and Associates 2010 and 2012 Financial Advisor Satisfaction Studies℠. The 2012 study was based on nearly 2,800 total responses and measures overall financial advisor satisfaction among advisors registered with Financial Industry Regulatory Authority (FINRA) investment firms. Proprietary study results are based on experiences and perceptions of financial advisors surveyed between November 2011 and January 2012. Your experiences may vary. Visit jdpower.com.
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