Suvarna Garge (Editor)

Commonwealth Financial Network

Updated on
Edit
Like
Comment
Share on FacebookTweet on TwitterShare on LinkedInShare on Reddit
Type
  
Private

Number of employees
  
Approximately 775

Revenue
  
1 billion USD (2015)

Founded
  
1979

Industry
  
Financial services

Website
  
www.commonwealth.com

Founder
  
Joseph Deitch

Motto
  
Anything but Common

Commonwealth Financial Network httpsmediaglassdoorcomsqll28069commonwealt

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.

References

Commonwealth Financial Network Wikipedia