Commonwealth Financial Network
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Overview
Commonwealth Financial Network is located at 29 Sawyer Road, Waltham, MA. The firm employs 3,000 financial advisors to manage client portfolios and provide financial guidance. Commonwealth Financial Network is a registered broker-dealer.
Commonwealth Financial Network oversees $177.0 billion in assets under management across 623,075 accounts, of which 601,814 are discretionary and 21,261 are non-discretionary. Over the past year, the firm has provided financial planning services to 34,500 clients. The services offered include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, and corporations, with retail investors being the largest client type by accounts. The fee structure at Commonwealth Financial Network includes asset-based, hourly, fixed, and commission-based fees. The firm has 35,520 high net worth clients and maintains affiliations with a broker-dealer or securities dealer and an insurance company or agency.
Commonwealth Financial Network is registered in the states of Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Commonwealth Financial Network by the Numbers
$177.0 billion
4,500
623,075
$284.1 thousand
Products and Services
Commonwealth Financial Network offers a number of services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars. In the last financial year, Commonwealth Financial Network provided financial planning services to 34500 of its customers. It is engaged in selling products or offering services apart from investment advisory services to its customers.
Core Advisor Services
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Offered by 31% of firms
Financial Planning Services
This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.
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Offered by 46% of firms
Portfolio Management
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
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Find a firm that offers this service
Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Other Services
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Offered by 20% of firms
Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Offered by 3% of firms
Publication of Periodicals
This is the publication of various financial education materials.
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Offered by 6% of firms
Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
Fees charged by financial advisors largely depend on the financial services offered. Fees charged by Commonwealth Financial Network most likely include some blend of the following fee types: asset-based, hourly, fixed, or commission-based. The company does participate in a wrap fee program, in which the company offers a service bundle for a single fee.
Available
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Offered by 69% of firms
Percentage of Assets
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Offered by 21% of firms
Hourly
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Offered by 1% of firms
Commissions
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Offered by 32% of firms
Fixed
Unavailable
Types of Clients
The firm works with a number of different investors. The firm works with retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, and corporations. Out of its 6 clients, Commonwealth Financial Network's biggest client group by number of accounts is retail investors, but it also manages money for 35520 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 under management or a net worth of at least $1,50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments).
- High-Net-Worth Individuals* - 9.5%
- Other Individuals - 89.2%
- Corporations - 1.18%
- Charitable Organizations - 0.12%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
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Disclosures
Commonwealth Financial Network does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Commonwealth Financial Network
Keene, NH
Northfield, MA
Great Neck, NY
New York, NY
Waltham, MA
Sea Girt, NJ
San Diego, CA
Danvers, MA
Englewood, CO
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SmartAsset’s free advisor matching tool makes it easier to find a vetted advisor so you can make an informed decision and choose one that you feel best suits your individual needs. Click here to find your advisor matches today.
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