Commonwealth Financial Network Named One of 50 Best Places to Work in Massachusetts

Waltham, Mass., (June 28, 2004) — Commonwealth Financial Network has been named one of the 50 Best Places to Work in Massachusetts by the Boston Business Journal in the journal’s second annual statewide awards program. The award recognizes the company’s achievements in creating a positive work environment that attracts and retains employees through a combination of benefits, working conditions, and company culture.

Commonwealth was one of more than 150 companies to qualify for consideration, making the top 50 list on the strength of its benefits and programs as well as employee evaluations.

"Commonwealth has worked diligently to create a culture where its employees can thrive both professionally and personally," said Joseph Deitch, Commonwealth’s chairman and CEO. "We’re proud to be in the company of great organizations winning this award."

"For the second year in a row, our results validate how the creation of the right work environment can create powerful business advantages," said Boston Business Journal Editor George Donnelly. "Employees are proud to work for companies that are about more than just business."

All 50 companies were honored by the Boston Business Journal at a gala breakfast on Thursday, May 27, where they received personalized plaques in recognition of their achievement.

This year’s awards program was launched in March in a direct mailing to over 3,000 human resource managers across the state, as well as by e-mail and fax announcements, phone calls, and advertisements in newspapers and on the journal’s Web site.

Companies were evaluated on two types of information collected. Each completed a questionnaire about retirement plans, health insurance, profit sharing or stock options, performance-based reviews, employee training, paternity leave, and perks such as parking, subsidized transportation, and tuition reimbursement. Ten or more employees then answered questionnaires that addressed such factors as their pride in the company, company encouragement, support and recognition of achievement, and relationships with coworkers and supervisors. Other questions asked about favorite and least favorite things about the company.

The results were analyzed and scored by assigning points to each question.

"Accommodating employees’ personal needs pays back dividends of loyalty and productivity," noted Mike Olivieri, publisher of the Boston Business Journal. "The companies on our list recognize that the commitment to employees is especially important in a down economy."

Commonwealth offers a number of benefits and opportunities to its employees. In addition to extensive training opportunities, open communication with management, and internal promotions, Commonwealth also provides its employees with rewards such as annual bonuses, a stock option program, tuition reimbursement, free bagels on Friday, casual Fridays, summer outings, a major league baseball night, and holiday parties.

"Commonwealth is very grateful to each and every employee for doing their part to preserve and enhance our unique culture, allowing us to provide indispensable, world-class service to our representatives" said Kate Creagh, Commonwealth’s director of Human Resources. "We strive to be an employer of choice, offering an open and innovative workplace, and we are proud to be recognized by the area’s leading business journal as one of the 50 Best Places to Work in Massachusetts."

Commonwealth Financial Network, member NASD, is a privately owned, national independent broker/dealer founded in 1979, with offices in Waltham, Mass., and San Diego, Calif. The firm supports approximately 900 independent registered representatives nationwide, and makes available a comprehensive array of financial products and services.

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