Commonwealth Financial Network
Assets Under Management
$209.7B
Number of Clients
399,450
Number of Advisors
3151
Average Client AUM
$525K
AUM per Advisor
$66.6M
Compensation
Commission-BasedFee-Only (AUM)Fixed/Hourly
About This Firm
Commonwealth Financial Network provides a suite of investment advisory services and programs to advisors for use with their clients. These include Preferred Portfolio Services (PPS) programs, wealth management and retirement consulting, and third-party asset manager programs. Commonwealth acts as a back office to its advisors, offering support and oversight.
Fee Structure
Commonwealth offers various advisory programs with different fee structures. The PPS Custom Program (Transactions) assesses transaction charges for the purchase and sale of certain securities. The PPS Custom Program (Platform) assesses a quarterly platform fee that is asset-based rather than dependent on the volume of transactions to cover purchase and sale transactions and annual maintenance fee costs. Advisors may elect to pay the platform fee on a client’s behalf. Commonwealth also receives revenue-sharing payments from NFS based on client assets held by Commonwealth with NFS in non-Fidelity NTF and iNTF funds that participate in Fidelity’s NTF and iNTF programs and non-Fidelity TF funds that participate in Fidelity’s TF program.
Areas of Practice
Location
29 Sawyer Road, Waltham, MA, 02453-3483