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Interviews — Lisa Keaton Back to Interviews
What made you decide to go independent? I have been an independent advisor for almost 25 years. My previous broker/dealer was a well-known regional firm based in New York City. I had worked with them for about 16 years when they were sold to MetLife. Although I tried to continue with them, it became clear that my previously “independent” B/D was now only one of several B/Ds acquired to strengthen this insurance giant’s distribution channels. The corporate culture became very difficult for me to deal with, and their various departments were spread over many cities in many different states. So, why did you join Commonwealth? I knew Commonwealth by reputation. In addition, a former colleague, whose opinion I greatly respect, had joined Commonwealth two years earlier. He kept encouraging me to take a good look at Commonwealth because he was very happy. When I did decide to leave my former B/D, I traveled and interviewed seven independent broker/dealers before deciding upon Commonwealth. I did a lot of homework prior to joining. Why do you stay? We have had a great experience so far. We transitioned in July 2004. It was a long and complex transition; however, the transition team was phenomenal and did a great deal of work for us. Since then, my staff and I are continually impressed by the professionalism, efficiency, and helpfulness of everyone at Commonwealth. What do you like best about Commonwealth? There are a number of things that really impress me. First, the firm is what I call “Advisor-Centric.” They put the advisor first as much as possible. Yes, even the Compliance department. Although they must work within certain guidelines, Compliance has been as flexible and advisor-friendly as possible. They understand that it must work in the real world with our clients. Second, Commonwealth employees try to work as a team to help us. There is obvious teamwork amongst various departments to get us the answers or end results we need. Although we are based in another state, that teamwork carries right through to us. We feel as if we are nearby. The technology is excellent, as are the HelpDesk folks. I can work from anywhere at anytime. Lastly, the employees at Commonwealth are articulate, educated, and very well-trained. Working with them is a pleasure. What has been the most pleasant surprise about being here? I am still impressed by the enthusiasm and support we receive from the Commonwealth staff. Everyone strives to be helpful and efficient. Operations had become a nightmare for us before joining Commonwealth. Now getting business processed is easy and the Service Center is a pleasure to work with. Any words of wisdom? It is very rewarding to be independent, and not as difficult as it seems. A good broker/dealer provides a great deal of structure. There are many resources out there and available to assist you. Commonwealth, in particular, provides many of them right on COMMunity Link® or through their wonderful Practice Management department. |
 
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