Number of employees Approximately 775 Revenue 1 billion USD (2015) Founded 1979 | Website www.commonwealth.com Motto Anything but Common | |
Key people Joseph Deitch (Chairman)Wayne Bloom (CEO) AUM Approximately $100 billion Headquarters Waltham, Massachusetts, United States Profiles | ||
Commonwealth financial network jeremie doucette
Commonwealth Financial Network is a privately held independent broker/dealer-RIA based in Waltham, Massachusetts, and 110 Plaza in San Diego, California. The company was founded in 1979 by Joseph S. Deitch and was incorporated under the name Commonwealth Equity Services. In 1999, the name Commonwealth Financial Network was adopted. Deitch remains Chairman of the firm. The firm is owned and controlled by its 11 managing principals.
Commonwealth has approximately 1,600 independent financial advisors and financial planners for whom it serves as a "back office," processing investment transactions on behalf of their clients, and to whom the firm provides resources and consulting services to support the advisors’ businesses.
Advisors who affiliate with the firm must earn a minimum of $200,000 in annual gross broker/dealer concessions (GDC). Gross revenue per advisor is the highest among independent broker/dealers, as reported by Financial Advisor in April 2015.