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Media Center Back to the Media Center Commonwealth Adds More Than $400 Million in New Advisor Assets Waltham, MA (July 27, 2011)—Commonwealth Financial Network® today announces the addition of three leading independent financial services firms formerly affiliated with Securities America. Tonkinson Financial, Capital Wealth Management, and Smallwood Capital Management—bringing more than $400 million in combined total client assets—joined Commonwealth in July 2011. Tonkinson Financial of Miami, Florida, generated $2.1 million in gross dealer concessions (GDC) in 2010 and manages more than $200 million in client assets. In 2010, founder and managing partner Richard Tonkinson, CFP®, CLU®, ranked in the top 2 percent of financial advisors at Securities America. “My passion for this business has been restored, refreshed, renewed, and reinvigorated because of the caliber of people and financial advisors at Commonwealth,” said Mr. Tonkinson. “Commonwealth is the best broker/dealer in the industry. We share a passion for great service, and this has created a synergy that will bring us continued growth and success.” Capital Wealth Management, led by Thomas J. Hine, CFP®, MBA, in Glastonbury, Connecticut, generated revenues of $1.2 million in 2010 and oversees more than $120 million in total client assets. In 2010, Mr. Hine also ranked in the top 2 percent of financial advisors at Securities America. “Commonwealth’s forward-thinking executives and their attitude toward assisting the advisor in servicing their clients is refreshing,” said Mr. Hine. “The firm’s superior software and technology will allow my team to improve on the excellent service we already provide for our clients.” Smallwood Capital Management in Shrewsbury, New Jersey, generated revenues of $900,000 in 2010 and oversees $100 million in total client assets. Managing partner John L. Smallwood ranked in the top 100 advisors at Securities America for the past five years. “I wish I made the move three years ago,” said Mr. Smallwood. “Commonwealth has the best technology package, and it is truly integrated. This translates to better control of the business, better services to our clients, and decreased expenses. Above all else, it is the people in the home office who have been a pleasure to work with each and every day.” Commonwealth’s year-to-date total advisor revenue has increased more than 57 percent since the same time period last year. The firm will receive an additional $9 million in GDC from new Securities America advisors as of the end of third quarter. About Commonwealth Financial Network Commonwealth Financial Network received the highest numerical score in the independent advisor segment in the proprietary J.D. Power and Associates 2010 Financial Advisor Satisfaction StudySM. Study based on 2,863 total responses and measures overall financial advisor satisfaction among advisors registered with the Financial Industry Regulatory Authority (FINRA) investment firms. Proprietary study results are based on experiences and perceptions of financial advisors surveyed in February–June and July–August, 2010. Your experiences may vary. Visit jdpower.com.
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