Commonwealth Remains Only Firm to Earn #1 Ranking from J.D. Power for Independent Advisor Satisfaction

Dedication to advisor growth and productivity, with service that advisors can’t find elsewhere, secures the firm’s eleventh consecutive #1 ranking.

Commonwealth Financial Network^®, a national firm dedicated to providing financial advisors with holistic, integrated business solutions, ranks “#1 in Independent Advisor Satisfaction Among Financial Investment Firms 11 Times in a Row” by J.D. Power. Commonwealth received an overall satisfaction score of 819 on a 1,000-point scale, outpacing the next-highest-ranked firm in the segment by 125 points, according to the J.D. Power 2024 U.S. Financial Advisor Satisfaction Study℠.

In addition to its overall #1 ranking, Commonwealth achieved the highest score in every reported key driver of advisor satisfaction—compensation, leadership and culture, professional development, products and marketing, operational support, and technology.

“Everything we do is about serving the industry’s most productive Advisors,” said Commonwealth CEO Wayne Bloom. “When new Advisors join the Commonwealth community, we often hear it’s because of our culture, established platform, and ownership structure. Every year, we’re building on that foundation—and we are never done!”

Bloom added, “Most of all, I want to thank our Advisor partners—the lifeblood of our business. They push us to be their best possible partner, and none of what we do is imaginable without their vision, partnership, and trust. Whenever we make decisions—initiatives to take, services to deepen, products to launch—we ask ourselves, ‘Will this make it easier or more efficient for our affiliated advisors to do business with us, and will it enhance the relationships they have with their investors?’ We focus relentlessly on their satisfaction, growth, and productivity. I believe that’s the key to each of our eleven #1 rankings.”

Among the firms ranked by J.D. Power, Commonwealth has a unique business model grounded in a dedication to service and delivers a mix of products, expertise, and support to help advisors achieve better outcomes for their investors and themselves. The result has been disruptive in the industry, bringing together a broad community of advisors ranging from single-advisor firms to large enterprises and independent RIAs.

Over the past year, the firm has invested more heavily in its platform than any prior year, supporting the growth of its advisor community with a focus on driving success in a competitive industry. Specifically, this investment supports advisor efficiencies and capabilities across investment management, marketing, and business solutions:

• Investment management. Commonwealth completed its largest expansion of the Preferred Portfolio Services^® (PPS) Select program, which enables advisors to outsource investment management functions to Commonwealth’s team of experts. Two-thirds of its affiliated advisors employ PPS to deliver on their clients’ unique investment goals while gaining scale and efficiencies in their advisory practices. From 2019 to 2022, most advisors who delegated more than $1 million in assets to PPS Select achieved, on average, 6 percent higher production growth compared to peers who had less than $1 million in PPS Select assets and primarily managed investments on their own.*
• Marketing. Commonwealth has enhanced Brand Studio, its curated suite of essential marketing resources, to help develop advisors’ brands to gain prospects and retain clients. Within the last 12 months, 95 percent of all Commonwealth affiliates used Brand Studio for their marketing needs, with nearly 80 percent of firms being active monthly users.
• Entrepreneurial Capital. Commonwealth significantly expanded options to its Entrepreneurial Capital program, which makes equity investments into our affiliated Advisor practices to help with M&A, succession, and other investments that fuel growth.

“All of these investments are consistent with what advisors tell us they want most in pursuit of better outcomes for their clients and their practices,” said Bloom. “The common theme is helping advisors drive the enterprise value of their firms. That commitment—plus a promise of service excellence across all interactions advisors have with home office staff—lets us build deep relationships with advisors and be disruptive in our industry.”

About Commonwealth Financial Network^®

Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides financial advisors with holistic, integrated solutions that support business evolution, growth acceleration, and operational efficiency. J.D. Power ranks Commonwealth “#1 in Independent Advisor Satisfaction Among Financial Investment Firms 11 Times in a Row.” Privately held since 1979, the firm has headquarters in Waltham, Massachusetts, and San Diego, California. Learn more about how Commonwealth partners with approximately 2,200 independent financial advisors overseeing more than $296 billion** in assets nationwide by visiting www.commonwealth.com.

Commonwealth received the highest score among independent advisors in the J.D. Power 2010, 2012, 2013, 2014, and 2018‒2024 U.S. Financial Advisor Satisfaction Studies. Presented on July 10, 2024, for January to May of 2024, it is based on responses from 4,072 advisors employed by or affiliated with the firms included in the study. Not indicative of the firm’s future performance. Your experience may vary. Study is independently conducted, and the participating firms do not pay to participate. Use of study results in promotional materials is subject to a license fee. Visit jdpower.com/awards for more details.

* Based on a study of 1,549 Commonwealth advisors with at least $300K in production and assets greater than $30M as of July 5, 2023. Data used in the study was collected from January 1, 2019, through December 31, 2022. Not indicative of advisor’s future performance. Your experience may vary.

** As of 12/31/2023

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