Study Results Confirm Commonwealth’s Practice Management
Services Increases Advisor Revenues

Waltham, Mass. (February 12, 2008) — According to a recent study, advisors who earn between $200,000 and $400,000 in gross dealer concessions (GDC), and who take advantage of Commonwealth Financial Network^®’s free practice management services, will significantly increase annual revenues.

Study participants averaged a revenue growth rate of 32.3 percent, compared with their peer group, consisting of Commonwealth advisors in the same production range who did not participate, who averaged a 17.2-percent growth rate.

This year-long study, conducted in 2007, brought together 18 advisors, who, in 2006, grossed between $200,000 and $400,000 in GDC, to participate in biweekly conference calls, all focused on increasing production.

“Practice Management constantly refines the programs it offers to our advisors, so it’s gratifying to have data that supports just how much we help those advisors who want to take their practice to the next level,” said Joni Youngwirth, Commonwealth’s vice president of practice management.

While study activities during the first quarter of 2007 focused on setting goals and objectives and creating strategies, the second quarter marked the beginning of 17 bimonthly conference calls led by either Practice Management staff or participating advisors. Topics included, “Approaching & Converting the Highly Affluent Market,” “Prospecting and High Impact Activities,” “Growing Production When Facing Adversity,” and “Five Biggest Mistakes of Advisors.”

“The advisor-led conference calls were a positive tool for holding participants accountable throughout the educational process,” said Ms. Youngwirth. “In the independent environment, it’s interesting how much business owners seek this type of accountability.”

At the start of the year, each participant created a revenue goal, both real and stretch, that he or she strived to obtain throughout the program. Incremental objectives were then paired with each goal to be used as dashboards.

Participant and Commonwealth advisor Stephanie Gale of Gale Investment Management in Port Townsend, Washington, superseded both her real and stretch goals, 20 percent and 36 percent, respectively, and achieved a 63.6-percent increase in annual revenues.

“The main impact was having regular time defined for thinking about practice management and production growth,” said Gale. “Also important were the accountabilities. It felt good to set a goal and not let it slip, as it’s sometimes easy to do when answering to yourself.”

Gale adds, “The curriculum emphasized the value of defining processes in growing and running a business, as well as the potential value in reducing stress and increasing peace of mind.”

Commonwealth pioneered practice management assistance in 1989. It was the first independent firm to acknowledge that its advisors are small business owners, not just salespeople. Today, Commonwealth offers services ranging from hiring and managing staff, to disciplined strategic planning and succession planning.

For more detailed information on the study, please contact Emily Guadagnoli at 781.736.7980 x9639 or eguadagnoli@commonwealth.com.

About Commonwealth
Founded in 1979, Commonwealth Financial Network, Member FINRA/SIPC, is the nation’s second-largest, privately owned independent broker/dealer, with offices in Waltham, Massachusetts, and San Diego, California. The firm supports more than 1,000 independent registered representatives nationwide and makes available a comprehensive array of financial products and services.



Contacts:
Emily Guadagnoli
Senior Public Relations Specialist
Commonwealth Financial Network
www.commonwealth.com
781.736.7980, x9639
eguadagnoli@commonwealth.com