In The News
As a broker/dealer–registered investment adviser, it’s our job to work behind the scenes for our advisors. But once in a while, we attract attention from the media. Here’s a selection of articles and news stories to help you learn more about us.
This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Past performance is no guarantee of future results. All indices are unmanaged and investors cannot invest directly into an index. Commonwealth Financial Network® does not provide legal or tax advice. You should consult a financial, legal, or tax professional regarding your individual situation.
Getting Clients to Follow Your Advice: The Power Struggle. Who’s in charge in the client-advisor relationship? Olivia Mellan, Investment Advisor columnist and psychotherapist, and Kol Birke, vice president, business systems strategies, continue their discussion, this time offering insight and several examples of what to do when a client is not listening to the choices recommended by a financial advisor.
Internal or external succession: What’s right for you? When it comes to succession planning, every advisor must decide what's right for his or her practice and personal situation. In her recent article in InvestmentNews, Joni Youngwirth, managing principal, practice management, evaluates the pros and cons of internal versus external succession.
The Biggest Killer of Motivation Is . . . Success? In her latest FPA blog post, Joni Youngwirth explains why some level of growth is essential to a business’s long-term health and vitality.
FPA Practice Management Blog, 03/11/14
Getting Clients to Follow Your Advice: Fired by the Heirs. Olivia Mellan and Kol Birke’s series continues. Scenario six: what to do when a client’s heirs want to hire another advisor.
Margin debt levels hit record $451B in January. STA Wealth Management CEO Lance Roberts and Commonwealth CIO Brad McMillan discuss the mounting concerns over the rise in margin debt.
Fox Business Network, 03/10/14
Getting Clients to Follow Your Advice: The Overspending Retiree. Olivia Mellan and Kol Birke continue their series of reports on common scenarios advisors face. Scenario five: your client has entered retirement and his or her spending exceeds your plan.
What will drive the markets higher? Commonwealth’s Brad McMillan provides his real-time outlook for the markets.
Fox Business Network, 03/06/14
Kol Birke on Risk Perception, Human Behavior, and Client Emotions. Kol Birke answers 10 questions on his role at Commonwealth, insights on client behavior, and his upcoming speaking role at FPA Retreat 2014.
Journal of Financial Planning, 03/01/14
The 2014 Premier 100 IT Leaders: Reinventing themselves many times over. E.J. Sutherland, senior vice president and chief information officer, is honored as a Top 100 Premier IT Leader by Computerworld.
Getting Clients to Follow Your Advice: The Self-Sabotaging Client. Olivia Mellan, author and business consultant, and Commonwealth’s Kol Birke offer advice on how to stop clients from self-destructive actions and follow your advice.
Tips for Stopping Negative Self-Talk from Sabotaging Your Business Goals. Don’t let negative thoughts sabotage your business goals! In her latest FPA blog post, Joni Youngwirth takes a look at some of the common thoughts that can get in an advisor’s way—and what you can do to get yourself back on track.
FPA Practice Management Blog, 02/11/14
Investor360° Platform Gets an Upgrade. Commonwealth releases Investor360° version 4.0, featuring various enhancements and greater customization for advisors.
Stocks Stall But No Need to Panic. Brad McMillan, chief investment officer, offers thoughts on recent mixed stock results.
Wall Street Journal Radio, 02/10/14
Getting Clients to Follow Your Advice: The Missing Spouse. Olivia Mellan, author and business consultant, and Commonwealth’s Kol Birke share strategies on what to do when the spouse who is your primary client fades out of the picture, and what an advisor should do earlier on to keep the second spouse connected.
Getting Clients to Follow Your Advice: The Panicky Investor. Olivia Mellan, author and business consultant, and Commonwealth’s Kol Birke share ideas and strategies for helping clients who are frightened by market volatility.
Mentoring Best Practices and the Village Approach. Joni Youngwirth, managing principal, practice management, shares some mentoring best practices that evolved from Commonwealth’s year-long Junior/Senior Advisor Intensive Program.
Journal of Financial Planning, 02/01/14
Top IBD Advisors Under 40. Sixteen Commonwealth-affiliated advisors are recognized. All members of the list are under age 40 and considered the “next generation” of top independent advisors, measured by total assets managed.
Top BD Execs Predict What Industry Will Look Like in 10 Years. In a panel of top B/D executives, Commonwealth’s Wayne Bloom weighs in on the future of the industry.
Getting Clients to Follow Your Advice. Stemming from a webinar Commonwealth’s Kol Birke participated in, this edited version of the conversation highlights a few ideas and strategies for encouraging clients to follow through on your advice.
Too Many Choices = No Decisions: Sidebar to "Getting Clients to Follow Your Advice". Kol Birke references a research study to help make the case of how too many choices in a given situation often lead to people sticking with the status quo.
Independent broker-dealer M&A market is heating up. With news of RSC Capital Corp. acquiring Cetera Financial Group, B/D buying and selling has become a topic of interest.
Compliance efforts help some independent broker-dealers avoid regulators. Commonwealth is recognized as one of two independent broker/dealers who place strong emphasis on compliant business practices.
Traders eye retail sales data, earnings as volatility jumps. Brad McMillan comments on “normal volatility.”
Stock investors, get ready for big bank earnings. The financial sector is expecting big gains, and Commonwealth’s Brad McMillian has some thoughts on what that may mean for other sectors.
Beyond Goals: Activity. In her latest FPA blog post, Commonwealth’s Joni Youngwirth emphasizes how important it is for advisors to set a realistic goal, focus on the goal every day, and put energy into the behaviors that can make the goal become reality.
FPA Practice Management Blog, 01/10/14
What will cause the next correction? Commonwealth’s chief investment officer, Brad McMillan, offers insight on how factors ranging from earnings to the economy might influence performance this year.
The Waiter Test: Recruiting Tips from Commonwealth’s Bloom. In an editorial roundtable, Jamie Green of Investment Advisor sat down with Commonwealth’s leadership to discuss our unique culture and how we recruit the right type of advisor.
Investment Advisor, 01/01/14
Getting a jumpstart on 2014 tax planning. Commonwealth’s Gavin Morrissey adds commentary to this article focused on the importance of laying the groundwork for tax returns early in the year.
2013 Was A Tremendous Year . . . At Least For The Stock Market. Listen in as Commonwealth’s Brad McMillan weighs in on the banner year the stock market had in 2013.
NPR News, 12/31/13
Record run for stocks has investors nervous about 2014. Brad McMillan, Commonwealth’s chief investment officer, recently spoke with MarketWatch, commenting on economic data, what investors should expect through year-end, and what they should be doing.
S&P 500 Extends Record as Treasuries Fall, Dollar Gains. Commonwealth’s Brad McMillan comments on the strengthening economic recovery.
Bloomberg News, 12/24/13
U.S. stocks to pull back early in 2014, end year with solid gain. Commonwealth’s chief investment officer, Brad McMillan, lends insight into the anticipated Federal Reserve decision to taper its economic stimulus early next year—and what it could mean for stocks.
Getting Ready for 2014. Commonwealth’s managing principal of practice management, Joni Youngwirth, encourages advisors to embrace business planning as a best practice and discusses the significance of business planning as 2013 comes to a close.
FPA Practice Management Blog, 12/10/13
Last-minute scramble to save on taxes: A couple oldies-but-goodies and a few interesting new ideas. Commonwealth’s senior vice president of wealth management, Gavin Morrissey, comments on the increasing importance of tax diversification in an article detailing what advisors’ clients can do to make a significant difference on their taxes.
Firms work to make the most out of their young advisors. In an article highlighting the trend of giving younger advisors more meaningful work earlier in their careers, Commonwealth’s Joni Youngwirth shares her thoughts on how young workers can benefit the advisory business and help growing practices thrive.
Retail investors switching from fear to greed. Commonwealth’s Brad McMillan, chief investment officer, talks with Reuters’s Bobbi Rebell on the markets and the possibility of an economic bubble as more retail investors get off the sidelines.
Low interest rates threaten universal life insurance policies. Commonwealth’s Gavin Morrissey, senior vice president, wealth management, weighs in on at-risk universal life insurance policies and what advisors can do to help.
Mentoring and Gratitude. Commonwealth’s Joni Youngwirth discusses the importance of expressing gratitude in a mentoring relationship and the significance of both the mentor and mentee articulating what they have gained from each other.
FPA Practice Management Blog, 11/12/13
Why In-Person Advisor Conferences Still Matter: Case in Point, Schwab Impact. Keynote speakers and session presenters at Commonwealth’s 2013 National Conference in Phoenix are noted as examples of successful in-person meetings that leave lasting impressions on conference-goers and keep them interested year after year.
Larger M&A Deals Ahead for IBDs. In an interview with REP. magazine, Commonwealth’s CEO, Wayne Bloom, answers questions on trends and pressures in the independent broker/dealer industry.
What to Watch This Week. Brad McMillan, chief investment officer, takes a look at the market and discusses his thoughts on investing with Bloomberg TV’s Alix Steel.
Tax traps to avoid for year-end charitable donations. Gavin Morrissey, senior vice president, wealth management, offers guidelines for avoiding potential tax traps as you consider making year-end charitable donations.
Wealth Management for Wild Markets. Gavin Morrissey, senior vice president, wealth management, discusses the diligence of Commonwealth’s wealth management teams and how they successfully serve advisors and their clients.
Does the debt-ceiling deal impact your portfolio? Brad McMillan, chief investment officer, talks with Liz Claman on how the debt-ceiling deal may affect market and portfolio performance in the coming months.
Fox Business, 10/17/13
Big financials face some serious headwinds. Brad McMillan, chief investment officer, discusses preparing your portfolio for default on CNBC’s “Squawk on the Street.”
Mentoring and Compensation. In a recent blog post, Joni Youngwirth, managing principal, practice management, emphasizes the importance of advisors offering a more competitive—and predictable—compensation structure in order to attract and retain talent in this changing industry environment.
FPA Practice Management Blog, 10/09/13
2 Big IBDs to Get New Women’s Choice Award. Commonwealth is one of the first recipients of the Women’s Choice Award, presented by an organization aimed at recognizing advisors who provide standout service to female clients.
Financial Planning, 10/07/13
Upping the Ante. With advisors’ business models constantly evolving, independent broker/dealers must continually enhance their technology platforms. Darren Tedesco, managing principal, innovation and strategy, highlights Commonwealth’s core offering and discusses the importance of integration and our increased focus on simplifying.
Financial Advisor, 10/03/13
Influencers of Financial Advice. Commonwealth’s Joni Youngwirth is honored with a 2013 Influencer Award by Financial Planning magazine. In the October issue, Joni takes the spotlight for her accomplishments in practice management and her commitment to the industry.
Financial Planning, 10/01/13
Uncommon Talents. Financial Advisor and Private Wealth magazines have once again named key staff at Commonwealth to their third annual All-Star Research Managers team.
Financial Advisor, 10/01/13
Eager Connector. Andrew Daniels, managing principal, business development, discusses how Tom Daley’s The Advisor Center, a web-based service designed to help financial advisors, is remaking recruiting.
Most U.S. stocks close lower. Brad McMillan, chief investment officer, talks with Patricia Wu of CNN International about investors’ fears over a possible government shutdown.
CNN International, 09/23/13
PANC 2013 Fiduciary Fitness. At the 2013 PLANADVISER National Conference, Paul Mahan, vice president, retirement consulting services, discussed the different fiduciary roles Commonwealth advisors play when working with clients’ retirement plans.
Analysis: Fed delay both delights, confounds investors. The Fed has opted not to taper its bond-buying program for the foreseeable future. Brad McMillan, chief investment officer, offers analysis on the reasoning behind this decision.
Clients ignoring investment income tax but it’s coming. Gavin Morrissey, senior vice president, wealth management, comments on the 3.8-percent net investment income tax, which hits top earners and their trusts, and the fact that most clients won’t pay attention to this tax until they are hit with it.
Mentoring and Work Ethic. Commonwealth’s Joni Youngwirth, managing principal, practice management, discusses generational differences in terms of work ethic and how senior and junior advisors can maintain a solid working relationship despite having different mindsets.
FPA Practice Management Blog, 09/10/13
Commonwealth Financial’s Big Fee-Based Bet. Wayne Bloom, CEO, recently sat down with Financial Planning’s Rachel Elson to discuss industry shifts, advisor models, and Commonwealth’s future.
Financial Planning, 09/01/13
Commonwealth’s Brian Harrison, The Strategic Value of Commitment and Consistency. In a recent blog post, Brian, director of insurance and financial planning marketing, discussed the ideas of commitment and consistency as they relate to the financial planning process, drawing on insights from Robert Cialdini’s Influence: The Psychology of Persuasion.
MIT Executive Insights Blog, 08/14/13
Commonwealth’s Joni Youngwirth, Internal Transitions: Mentoring the Glide Path. Here, our managing principal of practice management examines a number of practical factors that mentors should consider when transitioning an employee from a support role to an advisor role.
FPA Practice Management Blog, 08/13/13
Commonwealth Named Best Place to Work in San Diego. Independent broker/dealer Commonwealth Financial Network® has been recognized 23 times in recent years as a friendly workplace on both East and West coasts.
Attracting RIAs with more services. Independent broker/dealers are expanding their platforms to add and retain top advisors. Wayne Bloom, CEO, comments on Commonwealth’s RIA-Only model, which allows advisors to do business the way they want.
Integrations still on the tech road map. Darren Tedesco, managing principal of innovation and strategy, discusses Commonwealth’s technology vision.
Commonwealth’s Brad McMillan, Unknown Unknowns in Investing. Our chief information officer considers the question, “What do you believe, but know you can’t prove in investing?” and examines the underlying assumptions that help determine the decisions we make.
CFA Institute Inside Investing Blog, 08/06/13
Recruiting in a Bull Market. As broker/dealers continue to face challenges in recruiting new advisors, Commonwealth has revamped its marketing efforts to tell its story from a new angle while maintaining a “homegrown crew of salaried recruiters” who serve as gatekeepers to help ensure that prospective advisors are the right fit for the firm.
Financial Advisor, 08/05/13
Dedicated Management: Broker-Dealers Arm Their Advisors with New Tools to Help Them Mind Their Businesses. Joni Youngwirth, managing principal of practice management, discusses the levels of support her team offers—from consultations to intense coaching programs—to assist advisors in taking their businesses to new levels.
Financial Planning, Independent Broker-Dealer Supplement, 08/01/13
Stocks close mixed after Fed announcement. Brad McMillan, chief investment officer, talks with USA Today on the market’s favorable reaction to the Federal Reserve policy statement.
USA Today, 07/31/13
Commonwealth’s Joni Youngwirth, Mentoring a Junior Advisor: Beyond the CFP Program. In her latest FPA blog post, our managing principal, practice management, asks, “Which is easier to teach someone—how to analyze a portfolio for holes, or how to get a client to trust you?” Read on as Joni discusses a mentor’s role in helping junior advisors develop all-important relationship-building skills.
FPA Practice Management Blog, 07/09/13
A Portfolio That’s as Simple as One, Two, Three. It may sound counterintuitive, but for the average individual investor, less is actually more. Brad McMillan, chief investment officer, is quoted in this Wall Street Journal article discussing why some experts are pushing a back-to-basics approach to investing.
Wall Street Journal, 07/07/13
24 Hours And Counting. Based on her observations and conversations with advisors across the industry, Joni Youngwirth has developed a list advisors can use as a starting point for assessing their best and worst uses of time.
Financial Advisor, 07/03/13
Taking Leadership Seriously. Every day, we have the opportunity to embrace leadership in the decisions we make. Joni Youngwirth, managing principal, practice management, examines the components of leadership.
Journal of Financial Planning, 07/01/13
This Is the Way the World Ends. Brad McMillan, chief investment officer, defines various “end of the world” scenarios and what to do about them. Is diversification always the answer?
CFA Institute Inside Investing Blog, 06/25/13
Brad McMillan, Chief Investment Officer for Commonwealth Financial. Brad McMillan, chief investment officer, talks with WRKO Financial Exchange on the state of the market.
WRKO Financial Exchange, 06/24/13
Rising Interest Rates: How Investors Should Be Positioned. Brad McMillan, chief investment officer, offers insight on household wealth, the housing market, and consumer income and what that means for the economy.
’40 Act Funds See Alternative Inflows Climb. Brad McMillan, chief investment officer, discusses why Commonwealth is actively recommending mutual funds that include alternative strategies, such as global macro, merger arbitrage, and managed futures.
Markets Media, 06/13/13
Stocks rally as Dow ends 3-day losing streak. Brad McMillan, chief investment officer, offers his thoughts on a recent stock market rally.
USA Today, 06/13/13
Commonwealth and Securities America get into the RIA custody business and Wells Fargo is right behind them. IBD execs are pulling out the stops to court a finite pool of advisors in motion.
Commonwealth’s Joni Youngwirth, The Key to Developing Your Protégé. Mentoring a junior advisor takes time and consistency. In her latest FPA blog post, Joni Youngwirth, managing principal of practice management, discusses two keys to developing a successful protégé: determining goals and setting a time frame.
FPA Practice Management Blog, 06/11/13
Commonwealth Names Hunter President, COO; Adds Affiliation Models. Commonwealth’s Wayne Bloom and Andrew Daniels speak with AdvisorOne on recent management changes and the new RIA-Only offering.
Trimming transportation costs in retirement. As Americans age, transportation costs should be considered just as much as health care and housing. Commonwealth’s Gavin Morrissey offers his thoughts.
The 2013 Broker-Dealer Reference Guide. A guide to the top independent firms. Commonwealth ranks highest in average production.
Power in Practice: Wrapping Up. A look at how the success of Commonwealth’s Power in Practice program comes as much from the shared dialogue among its advisor participants as it does from the program itself.
All About Joni. A sidebar to “Power in Practice: Wrapping Up” to hear Joni Youngwirth’s thoughts and ideas about the program.
People, People, People. A sidebar to “Power in Practice: Wrapping Up” discussing how Commonwealth’s coaching program helps firm principals grow into their roles as CEOs of their practices-turned-businesses.
Commonwealth’s Joni Youngwirth, Mentoring a Junior Adviser—To Do What? A continuing discussion of mentoring young advisers.
FPA Practice Management Blog, 05/07/13
Careers beyond the adviser role. Kate Creagh, managing principal of human resources, talks to InvestmentNews about Commonwealth’s hiring practices.
Commonwealth’s Joni Youngwirth, Your clients’ loyalty must be earned. Joni Youngwirth stresses the importance of embracing the consultative financial planning process and showing genuine concern and good faith to gradually build a lifetime of trust.
FA Satisfaction as Measured by J.D. Power. According to the latest J.D. Power and Associates 2013 U.S. Financial Advisor Satisfaction Study,Commonwealth ranks “Highest in Independent Advisor Satisfaction Among Financial Investment Firms,” with an overall satisfaction score of 945.
J.D. Power & Advisor Satisfaction: Behind the Numbers. J.D. Power and Associates released its 2013 U.S. Financial Advisor Satisfaction Study, ranking Commonwealth Financial Network “Highest in Independent Advisor Satisfaction Among Financial Investment Firms.”
Indie reps happier at work than wirehouse advisers: J.D. Power. Commonwealth ranks “Highest in Independent Advisor Satisfaction Among Financial Investment Firms” by J.D. Power and Associates.
J.D. Power Picks Top Firms for Financial Advisor Satisfaction. Commonwealth ranks “Highest in Independent Advisor Satisfaction Among Financial Investment Firms” in the J.D. Power and Associates 2013 U.S. Financial Advisor Satisfaction Study.
Financial Planning, 04/11/13
Ramping Up The Game. Independent broker/dealers like Commonwealth are changing strategies and channels to attract and retain financial advisors who can help score revenues for the firms.
Financial Advisor, 04/05/13
Commonwealth’s Joni Youngwirth, Power in Practice: A Coaching Program to Last a Career. An in-depth analysis of advisors’ books of business is vital to understanding the value of their practices.
5 ‘Important’ IBDs. A look at how Commonwealth fits the criteria to be named one of the five important independent broker/dealer firms that break new ground with foresight and mastery.
BlackRock’s Koesterich: Europe’s Banks Are Its ‘Achilles’ Heel.’ At Commonwealth Financial Network’s Chairman’s Retreat, investment guru Russ Koesterich sees danger and opportunity in Europe and suggests “great rotation” to equities “is not happening.”
Commonwealth’s Joni Youngwirth, Mentoring a Junior Adviser: Are You Speaking the Same Language? A look at the difficulties advisors may encounter as they mentor a junior advisor to be their successor.
FPA Practice Management Blog, 03/12/13
Commonwealth’s Brad McMillan, The new new normal. Apparently, investors are not afraid of slower growth and puny inflation rates.
Commonwealth’s Joni Youngwirth, The delicate art of hitting the road. There are a number of emerging retirement models that allow advisors to stay involved in their business and help ease the transition.
The next frontier. 401(k) plans present a wealth of opportunities for advisors, and a number of major broker/dealers are assisting their advisors, including Commonwealth Financial Network.
Commonwealth’s Darren Tedesco named one of Computerworld magazine’s “Premier 100 IT Leaders” of 2013.
Commonwealth’s Joni Youngwirth, Sharpening the Saw: Practicing Balance. The ongoing blog series addresses why taking care of yourself is paramount to taking care of your business.
FPA Practice Management Blog, 02/12/13
Morgan Stanley Adds 4 Wells, JPMorgan Reps; Commonwealth Grabs 9 LPL Advisors. The reps are expected to bring more than $250 million over to the independent broker-dealer.
Commonwealth’s Joni Youngwirth, 3 Ways to Help Your Staff. An advisor’s staff is key to a firm’s success—that’s something most of us can agree on. Yet too many advisors underutilize their staff members.
Financial Planning, 02/01/13
Commonwealth Financial Adds Three Advisor Affiliates. Commonwealth Financial Network has added three independent financial advisory firms as affiliates: Ellis & Ellis Investment Management, Ingargiola Wealth Management Group, and Cornerstone Investment Group.
Financial Advisor, 01/29/13
Commonwealth Grabs Monarch Retirement Group From SII Investments. Commonwealth Financial Network announces that Monarch Retirement Group of San Diego has joined the independent broker/dealer.
Monarch Retirement Group Joins Commonwealth Financial. Monarch Retirement Group has joined Commonwealth Financial Network, bringing with it $250 million in client assets.
Financial Advisor, 01/22/13
Commonwealth’s Brad McMillan, You think that was bad? Future recessions will be much worse. With the Fed out of tricks, investors should expect a more volatile economy and market over the next 20 years.
Technology entices talent. Commonwealth’s Darren Tedesco weighs in on the growing importance of a strong technology platform to advisors considering going independent and the direct tie it has to increased levels of operations and client service.
Commonwealth’s Darren Tedesco, Does a blog equate to “blah, blah, blah”? A look at how social media can benefit financial advisers.
Commonwealth’s Joni Youngwirth, Sharpening the Saw: The Mental Dimension. This blog addresses why taking care of yourself is paramount to taking care of your practice.
FPA Practice Management Blog, 01/08/13
Advisors Giving Back. Commonwealth advisors and their staff are highlighted in three slideshows, as they give back to their local communities and share their time and talents.
Commonwealth’s Brad McMillan, What’s Boehner’s next move? The House speaker could either cut a deal with Democrats or side with the GOP’s fiscal conservatives.
Commonwealth Financial Sees Slow, Steady U.S. Growth. Commonwealth Financial Network® offers a market outlook for 2013, highlighting a slow but steady economic performance for the new year.
Wall Street Journal, 12/24/12
6 Smartest Things We Heard at the Women Advisors Forum Boston. Commonwealth’s Joni Youngwirth suggests that advisors figure out which day-to-day activities actually generate revenue.
Financial Planning, 12/18/12
Commonwealth’s Joni Youngwirth, Are you settling? How advisers can get ‘unstuck.’ If you find yourself settling for a mediocre or perhaps even unsatisfactory situation, these tips may help you get back on track.
New Hire Roundup: Commonwealth’s Tedesco Honored. Darren Tedesco, Commonwealth Financial Network’s managing principal, innovation and strategy, has been named to the 2013 Premier 100 IT Leaders list.
Why tax hikes will be worse than spending cuts. Although a lot of the discussions about the fiscal cliff have focused on potential tax increases for the rich, Commonwealth’s Brad McMillan says it’s the tax hikes for everyone else that could derail the economy.
Commonwealth’s Joni Youngwirth, Sharpening the Saw: 4 Ways to Manage Stress. There are a wide variety of options available for stress self-management. What works well for advisors?
FPA Practice Management Blog, 12/07/12
Custodians Evolve. Custodians have been forced to come up with new offerings and initiatives for the burgeoning ranks of independent advisors and RIAs. For Commonwealth, differentiation comes from back-office and technology support.
Financial Advisor, 12/06/12
Commonwealth’s Gavin Morrissey, Year-End Tax Strategy: Pairing a Roth Conversion With a DAF. With so much uncertainty still out there as we approach the New Year, many clients are looking for last-minute planning ideas that they can implement before year-end.
Commonwealth’s Joni Youngwirth, Business valuation: One size doesn’t fit all. But starting with a few fundamentals can help advisers begin to calculate the right price.
Giving Back: Commonwealth’s Ball Does It All. Financial advisor Nelson Ball has found many ways to support his community and a variety of causes.
New Hire Roundup: Commonwealth Financial in Top Places to Work—Again. Commonwealth Financial Network once again made the Boston Globe’s list of top places to work in Massachusetts.
Commonwealth to Roll Out More IA Options in Early ’13. The independent BD believes more flexibility for its reps will help it attract more breakaway brokers and give its advisors and prospects more options.
Commonwealth’s Bloom on Acquisitions: Firm Is Open, but Cautious. CEO Wayne Bloom says firm is quite strict about what types of advisors and business it wants to add as it moves toward becoming a $1 billion firm.
Commonwealth’s Brad McMillan, Finding value in unpopular alpha. If everyone is scared to go into an asset class, then there will be no competition and prices will not get bid up.
Commonwealth Unveils Adviser Marketing Engine. Commonwealth Financial Network introduces Four-Corner Marketing, an online tool to provide advisers with access to preapproved materials to strengthen client relationships and market to prospects.
Top Portfolio Products: Retirement Education Program from Commonwealth Financial. Commonwealth Financial Network recently introduced RetireReady.
Commonwealth’s Joni Youngwirth, Sharpening the Saw: A Focus on Nutrition. A continuing discussion of Stephen Covey’s notion of sharpening the saw; this blog focuses on nutrition.
FPA Practice Management Blog, 10/09/12
Lies, damn lies, and statistics . . . again. Commonwealth Financial’s CIO Brad McMillan discusses the latest job report and the questions over its legitimacy.
Commonwealth Grabs $300M Team From First Allied. The new group is based in Minnesota and includes four financial advisors.
Financial Advisor, 10/09/12
Bucket Theory Helps Clients Sort Out Retirement Goals: Juliano, Birke at RIS. Advisors at the fifth annual Retirement Income Symposium urged to set themselves up as specialists.
Commonwealth Introduces Retirement Planning Education Program. Commonwealth Financial Network launched “RetireReady,” a customizable participant education program for independent advisors.
Financial Planning, 10/04/12
A Different Kind of Leverage. Commonwealth Financial Network uses technology to help its advisors prosper.
Financial Advisor, 10/01/12
Commonwealth’s Joni Youngwirth, Sharpening the Saw. A discussion of how we can take a step back and proactively form good habits, inspired by Stephen R. Covey’s best-selling book, The 7 Habits of Highly Effective People.
FPA Practice Management Blog, 09/04/12
Commonwealth: Why the calm markets are about to get rougher. In this article and video, Brad McMillan, VP and chief investment officer for Commonwealth, says that the calm markets in August might have been too calm.
Hot off the Presses. New products, highlights, and announcements, including a section about the web-based software introduced by Commonwealth Financial Network and IPS AdvisorPro.
Commonwealth’s Gavin Morrissey, As Window Closes, 4 Key Points on Wealth Transfers. A professional’s advice on seizing the opportunity to design and implement a wealth transfer strategy.
Going Independent? Here are the six steps you must put on your to-do list.
Commonwealth Launches Trading Platform Client360° Trading, a new platform for the firm’s Client360° suite of tools, was rolled out by Commonwealth Financial Network.
Commonwealth: External factors most impacting U.S. slowdown. Article and accompanying video feature Commonwealth’s chief investment officer, Brad McMillan, who discusses the continuing slowdown in the U.S. economy.
Commonwealth racks up a $100 million LPL team by using its broker-dealer’s greater size against it. The Waltham, Mass.-based IBD believes this is LPL’s soft underbelly because small-and-familial is why many advisors joined the old Linsco/Private Ledger from wirehouses in the first place.
Commonwealth Financial Network Launches New Website. Commonwealth has launched a newly revamped website, which presents a more comprehensive company brand image.
FA Online, 08/04/12
Commonwealth’s Joni Youngwirth, Wrap-Up: Becoming a “Best Place to Work.” A closing discussion of best-place-to-work environments.
FPA Practice Management Blog, 08/03/12
Video: How Europe’s Turmoil Can Indirectly Help the U.S. Brad McMillan, Commonwealth’s chief investment officer, shares his market thoughts for June 2012.
Commonwealth’s Gavin Morrissey, Advisors, Use This Wealth Transfer Strategy While You Can. Potential changes to the tax structure in 2013 suggest that wealth managers might want to take advantage of GRATs now for clients who need an efficient wealth transfer strategy.
Commonwealth’s Joni Youngwirth, Becoming a “Best Place to Work”: Dimensions #9 and #10. A continuing discussion of “best place to work” environments.
FPA Practice Management Blog, 06/08/12
Commonwealth ranks #3 on Computerworld's list of 100 Best Places to Work in IT 2012. The independent broker/dealer also ranked #1 in Retention and #2 for Training.
Commonwealth’s Gavin Morrissey, What to Do Now to Minimize Wealth Transfer Tax. Advisors and clients need to recognize the limited window in which to take advantage of current law to transfer wealth with little or no tax.
Commonwealth’s Melissa Hughes speaks with group publisher of Registered Rep., Rick Santos, on Commonwealth’s recent recruiting efforts.
Commonwealth’s Joni Youngwirth, Becoming a “Best Place to Work”: Dimension #8. Exploring the role of dimension 8 in helping to create a notable work environment.
FPA Practice Management Blog, 05/01/12
Commonwealth’s Joni Youngwirth, Prognosticating on practice values. A variety of factors, including aging sellers and choosier buyers, will affect asking prices.
Commonwealth’s Joni Youngwirth, Power in Practice: A Coaching Program to Last a Career. Advisors are well trained when it comes to guiding their clients’ financial lives. Are they as well prepared when it comes to acting as their practices’ CEO?
Investment Advisor, 05/01/12
Why Kool-Aid boosts adviser satisfaction. J.D. Power and Associates’ recent report speaks volumes about the power of corporate culture.
Commonwealth’s Joni Youngwirth, Becoming a “Best Place to Work”: Dimensions #6 and #7. Exploring dimensions six and seven of a successful workplace.
FPA Practice Management Blog, 04/01/12
Advisor Satisfaction: How Independent B-Ds Stack Up. Commonwealth Financial Network secured the top slot in J.D. Power and Associates’ 2012 U.S. Financial Advisor Satisfaction Study.
Financial Planning, 03/30/12
J.D. Power and Associates hints strongly at wirehouse deficiencies as it puts Commonwealth Financial and Raymond James on a pedestal. The two firms ranked one and two for independent advisor satisfaction among financial investment firms.
Advisor Job Satisfaction Linked to Firm Performance
Financial Advisor, 03/29/12
Commonwealth’s Joni Youngwirth, Becoming a “Best Place to Work”: Dimensions #4 and #5. Exploring dimensions four and five of the Gallup Organization.
FPA Practice Management Blog, 03/23/12
Commonwealth Partners with Fiduciary Benchmarks
Edward Jones and Commonwealth tops with advisers. Pair of firms ranked No. 1 in J.D. Power and Associates for second year in a row.
Job Satisfaction: The Independent B-D Scorecard
Financial Planning, 03/01/12
YIELD OF DREAMS—The Votes Are In: The Best and the Rest Among IBDs
Registered Rep., 03/01/12
Commonwealth’s Kol Birke, Not So Rosy Outlook. Listen very carefully: The right start to a difficult conversation with a client could lead to a trove of actionable information.
Financial Planning, 03/01/12
Commonwealth’s Brad McMillan, Why housing deserves another look. With supply leveling and demand buoyed by bargains, the American dream still has some life.
Commonwealth’s Joni Youngwirth, Preparing for when the unexpected occurs. Giving someone else power of attorney can help your family avoid a fire sale of your practice.
Commonwealth’s Joni Youngwirth, When to Prune. One can find good reasons to cut clients and good reasons not to. Advisors who do are typically happy they took action.
Financial Advisor, 03/01/12
Commonwealth’s Joni Youngwirth, More on Becoming a “Best Place to Work.” Exploring the next two dimensions of successful workplaces.
FPA Practice Management Blog, 02/10/12
The Rise of Cloud Computing on Wall Street. Looking to cut their capital expenditures on servers and applications, financial services firms are warming up to private clouds run outside their firewalls. Commonwealth’s Darren Tedesco featured on cover.
Wall Street & Technology, 01/30/12
Commonwealth Financial Reports Top-Line Growth for Reps in Coaching Program. Participants in BD’s Power in Practice program saw GDC increase by 24% to 44% over non-participants.
Commonwealth to Continue Adviser Coaching Program. Commonwealth Financial Network’s Power in Practice business development coaching program will continue in 2012.
Commonwealth’s Joni Youngwirth, Process Implementation: Moving Toward a More Efficient Office. Sometimes the snag in a smoothly functioning practice is the advisor.
Investment Advisor, 01/23/12
Commonwealth Financial Network® Partners with FinaConnect to Offer Advisors a Comprehensive, Integrated Retirement Plan Management Platform.
Advisor Emporium. Commonwealth Announces Investor360°.
Financial Advisor, 01/01/12
Making the Cut. Financial Advisor and Private Wealth magazines announce their inaugural all-star research team, featuring Commonwealth’s Fred DeBaets, Simon Heslop, and Brad McMillan.
Financial Advisor, 01/01/12
Commonwealth’s Joni Youngwirth, Becoming a “Best Place to Work.” The first dimension to making a small business environment a great workplace.
FPA Practice Management Blog, 12/27/11
Commonwealth’s Gavin Morrissey, Tax and Philanthropy Focus: Year-End Giving Made Easy.
Commonwealth’s Joni Youngwirth, Last but Not Least: Focus, Focus, Focus. The latest post in a series on “How do you sell more?”
FPA Practice Management Blog, 12/09/11
Darren Tedesco: Driving Commonwealth's 'intuitive' tech. Investment News has named Commonwealth’s Darren Tedesco one of the top 20 Individuals of Influence for his contributions to our industry-leading technology platform.
Tech Survey. Financial Planning's fourth annual Technology Survey cites Commonwealth as the B/D who received the highest satisfaction rating from its advisors.
Financial Planning, 12/01/11
Commonwealth Financial Boosts Portfolio Platform for Its Advisors. The updated technology brings together more asset information and daily performance data, including holdings in alternatives assets and assets being custodied at a variety of firms.
Commonwealth Introduces Online Tool for Investors. Commonwealth Financial Network has launched Investor360°, an online tool for investors to view multiple aspects of their portfolio.
Investor360° launched by Commonwealth Financial Network. Commonwealth Financial Network has just launched a client portal it calls Investor360°.
Commonwealth’s Joni Youngwirth, Aptitude, Attitude, Activity: The Rainmakers’ Trifecta. Looking at the population of rainmakers from the 50,000-foot level, three factors stand out.
FPA Practice Management Blog, 11/08/11
A kitchen for every taste. Themed kitchens are just one of the many perks that make Commonwealth stand out in a crowd.
To celebrate our differences. Commonwealth’s Living the Legacy campaign honors the contributions our most tenured women have made to our community.
The Boston Globe’s Top Places to Work. Commonwealth ranks 2nd in the Boston Globe’s 2011 rankings of the top 35 medium employers in Massachusetts.
Commonwealth’s Joni Youngwirth, Outside the Box. The pros and cons of choosing an external successor.
Financial Advisor, 11/01/11
Why I love my job. Boston Globe’s Top Places to Work survey highlights Commonwealth’s Sheila Hancock, senior compliance advisor.
Commonwealth Financial Network Recruits Summit Financial.
Financial Advisor, 10/20/11
Commonwealth’s Joni Youngwirth, An Often Overlooked Source of Success. A significant other is critical to an advisor’s success and ultimately to a practice.
FPA Practice Management Blog, 10/11/11
Commonwealth Gains $1.2B Advisory Firm. Summit Financial, led by founder and managing partner Joseph Bonasera, is joining Commonwealth Financial Network.
Plan Adviser, 10/19/11
Commonwealth Edges Out LPL to Nab the $1.2 Billion Retirement Firm Just Down the Road. Summit Financial wanted greater pension expertise.
Advisor Emporium. Commonwealth launches new management system.
Financial Advisor, 10/03/11
Commonwealth’s Joni Youngwirth, The Replacements. The pros and cons of choosing an internal successor.
Financial Advisor, 10/03/11
Commonwealth’s Joni Youngwirth, Want a More Efficient Practice? Examine Your Core Processes. Advisors need to look at their practice from all aspects to identify where they fit into the firm’s processes.
Investment Advisor, 10/01/11
Commonwealth’s Gavin Morrissey, CLATs: A Leading Estate Planning Strategy for Wealthy Clients.
Commonwealth Snags Three Securities America Top Producers. Recruiter Elzweig tells AdvisorOne that the firm’s advisor friendliness is key to its coup.
Commonwealth’s Joni Youngwirth, Unchecked Growth. Checklists may seem basic, but they are a simple and practical way to boost your firm’s efficiency.
Investment Advisor, 08/24/11
Commonwealth Enhances Its Trading Platform. Commonwealth has officially launched its Commonwealth Model Management System, the firm’s enhanced trading platform for systematically managing and rebalancing client portfolios.
Financial Advisor, 08/17/11
Commonwealth Launches Model Management System. Advisors can rebalance hundreds of accounts with a few clicks.
Commonwealth Rolls Out Portfolio Management Platform. Commonwealth developed the Commonwealth Model Management platform to help advisers with systematic managing and rebalancing of client portfolios.
Plan Adviser, 08/16/11
Commonwealth’s Joni Youngwirth, Increasing Revenue: Strategic Approaches for Veteran Advisers.
FPA Practice Management Blog, 08/10/11
Commonwealth’s David Juliano, Financial Aid Pie: Getting a Big Slice. More assistance is available for families with means—if you know where to look.
Financial Planning, 08/01/11
Commonwealth Plucks 3 Top-Producing Firms from Securities America. Independent BD adds Tonkinson Financial, Capital Wealth Management, and Smallwood Capital.
Commonwealth Adds Firms from Troubled Securities America.
Financial Advisor, 07/27/11
Commonwealth Financial Offers Forefield Marketing Apps to Its Advisors. Independent BD reps will gain access to educational, CE, and client communications tools at no charge.
Commonwealth Offers Advisers Broadridge Solution. Commonwealth has partnered with Broadridge Financial Solutions to offer its advisers access to Broadridge’s Forefield applications.
Plan Adviser, 07/19/11
Commonwealth’s Joni Youngwirth, The “Secret Sauce” of Success.
FPA Practice Management Blog, 07/13/11
Commonwealth’s Joni Youngwirth, The Challenges for Junior Advisers.
FPA Practice Management Blog, 07/12/11
Commonwealth’s Gavin Morrissey, Estate Planning: Time Running Out on $5M Gift-Tax Exemption.
Commonwealth Financial to Allow Rep Access to Social Media. Third-party vendor will capture and retain data, deliver back to BD’s existing compliance platform.
Investment Advisor, 06/01/11
Commonwealth’s Revamp of Technology Includes Subtracting Advent. The big IBD wasn’t impressed with the value presented by third-party performance reporting companies.
Featuring Commonwealth’s Joe Deitch, The IA 25 All Stars. The all stars’ far-reaching influence has put them on the IA 25 multiple times throughout the years.
Commonwealth Updates Client Management Tool. Commonwealth has made several upgrades to its web-based client management tool, Client360°®.
Plan Adviser, 05/30/11
Commonwealth’s Joni Youngwirth, What Does a Rainmaker Do? What do advisors do to become top producers? Learn how three successful advisors have grown their businesses dramatically.
Financial Advisor, 05/10/11
Commonwealth’s Joni Youngwirth, Is Your Business Development Approach a Good Fit?
FPA Practice Management Blog, 05/09/11
Commonwealth’s Joni Youngwirth, Marketing 101: Answers to 10 Common Questions. The long-term rewards of a good marketing campaign will more than pay for the challenges.
Investment Advisor, 05/01/11
Commonwealth’s Joni Youngwirth, Be Prepared to Implement Succession Plan. With minimal planning, major complications from unexpected events can be avoided.
Investment News, 05/01/11
Commonwealth’s Joni Youngwirth, What Makes a Rainmaker? The advisors who represent the cream of the crop in terms of production typically share a similar set of personality traits.
Financial Advisor, 04/29/11
Commonwealth Offers Social Media Compliance Tool. Commonwealth has partnered with Erado Message Control to offer advisers a social media compliance solution.
Plan Adviser, 04/28/11
Commonwealth Finds Compliant Solution to Interactive Social Media.
Financial Advisor, 04/21/11
Commonwealth’s Joni Youngwirth, Motivation and Inspiration: The Secrets of Adviser Success?
FPA Practice Management Blog, 04/11/11
Commonwealth’s Joni Youngwirth, To Ask or Not to Ask? Develop an Effective Referral Strategy in a World of Contradictory Advice. It’s not how, who, or when you ask—it’s if.
Investment Advisor, 04/01/11
Commonwealth’s Gavin Morrissey, A Wealth Transfer Strategy to Consider Now. Make the lifetime gift before the end of 2012 so more money will go to your heirs.
Tax Planning Advice: Charitable Tax Deductions.
Commonwealth Launches Charitable Foundation.
Financial Planning, 03/11/11
Commonwealth’s Bloom on FA Payouts, Giving Back and Consolidation. “What good is it for us to add another couple hundred advisors, if half of them don’t fit,” asks the head of the independent broker/dealer.
Tax Planning Advice: When Bypass Trusts Still Make Sense.
Tax Planning Advice: Leverage the Estate Tax Exemption.
Commonwealth Financial Forms Charitable Foundation. The charity organization aims to boost the impact that Commonwealth’s 1,400 advisors have in their communities nationwide.
The Commonwealth Way. This independent broker/dealer has made great strides in integrating technology systems into its advisory platform.
Financial Advisor, 03/02/11
Commonwealth Raises Payouts for Big Advisors and Slashes Trading Commissions.
Commonwealth’s Joni Youngwirth, Marketing Implementation: The Advisor’s Role and the Importance of Delegation. An advisor’s role in marketing is largely strategic.
Commonwealth’s Scott Schutte, Under the Radar. A little-known change to Social Security rules governing early benefits could hamper retirement planning strategies.
Financial Planning, 03/01/11
Commonwealth Boosts Payouts, Drops Ticket Charges.
Financial Planning, 02/11/11
Commonwealth Financial to Raise Payouts, Cut Ticket Charges. CEO Wayne Bloom says move reflects importance of fee business to BD.
One B-D’s Secret for Recruiting Top-Producing Advisers.
At Commonwealth, J.D. Power Award Won’t Change Recruiting Process. BD’s culture won’t be sacrificed for growth, says recruiting director Daniels.
Advisors Rate the B-Ds: Who’s #1? Commonwealth scores highest among independent advisers.
Commonwealth Financial Network: What Advisers Think. Commonwealth ranks highest in overall satisfaction in J.D. Power and Associates’ Independent Advisor Satisfaction survey.
Commonwealth ranks “Highest in Independent Advisor Satisfaction among Financial Investment Firms.” J.D. Power and Associates, (10/10)
“Commonwealth Announces CRM 4.0” (05/18/10)
2013 National Conference
Bloomberg Radio broadcast “The Hays Advantage,” featuring Kathleen Hays and Vonnie Quinn, live on-site November 7-8 at Commonwealth’s 2013 National Conference. A number of insightful interviews took place over the airwaves, and you can listen in by clicking the audio clips listed below.
Andrew Daniels, managing principal, business development, talks at length on Commonwealth’s uncommon approach to business, the value of independent advice, and the emphasis we place on quality and community. LISTEN NOW »
John Rooney, managing principal, San Diego, explains opening the West Coast office back in 2000, what Commonwealth values when making hiring decisions, and the ROI to treating employees well. John also answers questions on industry trends and comments on our award for Ethics from the U-T (Union-Tribune) San Diego. LISTEN NOW »
Brad McMillan, chief investment officer, discusses Commonwealth’s independent service model, All-Star Research Managers team, and how we partner with advisors. Brad also offers real-time insight on economic uncertainty and current market conditions. LISTEN NOW »
Joni Youngwirth, managing principal, practice management, details how she serves Commonwealth’s independent advisors and works with them to implement business plans, build their practices, and create a niche. LISTEN NOW »
Gavin Morrissey, senior vice president, wealth management, talks about retirement income planning and the importance of keeping retirees comfortable with a plan that can sustain market fluctuations. LISTEN NOW »
Alexandra Armstrong, chairman and founder of Armstrong, Fleming & Moore, Inc., and featured author in “The Hays Advantage” special segment, The Authors Advantage, discusses her book On Your Own: A Widow’s Passage to Emotional and Financial Well-Being. LISTEN NOW »
Paul Pradel, president and owner of Pradel Financial Services, discusses his work as a financial advisor and what it means to be affiliated with Commonwealth. LISTEN NOW »
Conference wrap-up: Kathleen Hays and Vonnie Quinn conclude their two days at Commonwealth’s National Conference. LISTEN NOW »