Press Releases

Commonwealth Financial Network® Announces Up to 95-Percent Payout on Retirement Plan Business

Largest retirement-focused team in the broker/dealer–RIA community increases value
to advisors with expanded offerings

WALTHAM, MA (November 12, 2015)—Commonwealth Financial Network®, the nation’s largest privately held independent broker/dealer–RIA, today announced enhanced payouts up to 95 percent on fee-based retirement plan consulting business. This announcement was made at Commonwealth’s 2015 National Conference, attended by nearly 1,400 advisors and guests.

“Our enhanced 95-percent payout on all qualified retirement plan business is our way of recognizing our advisors’ ongoing success and supporting additional investments as they grow their businesses,” said Wayne Bloom, Commonwealth’s CEO. “We will continue to provide unparalleled support to our advisors and demonstrate our commitment to the industry.”

“2015 has been a successful year for our Retirement Consulting Services (RCS) team, and we continue to invest heavily into this segment of our business,” added Bloom, from the main stage of the opening general session.

A number of new offerings are now available through Commonwealth’s RCS platform, helping affiliated advisors effectively and efficiently manage workplace and individual retirement business.

An in-house Fiduciary Education Training Program was recently developed to ensure that advisors have access to necessary trainings in a convenient and affordable format. This training, consisting of eight core modules, is specifically designed to educate advisors on their fiduciary responsibilities to qualified plans, and it qualifies as an alternative to select designation programs for managing fee-based qualified retirement plans.

ParticipantConnect, a dynamic platform that provides advisors with consolidated plan- and participant-level information across multiple recordkeepers, also was recently rolled out to advisors. Through an integrated dashboard, advisors can perform inquiries based on participant demographics, including age, account balance, and contribution rate, with the goal of improving plan metrics and outcomes for individuals in the plan. In addition, the system offers an automated way for advisors to assist transitioning employees with rollover decisions.

“We are laser focused on providing the most competitive and progressive retirement platform and service model in the industry, which also includes a unique consultancy and commitment to the emerging retirement plan advisor,” said Paul Mahan, senior vice president, retirement consulting services. “We have substantially grown our team, creating a deeper bench of dedicated business consultants who provide comprehensive, consultative support that is unmatched in the industry.”

Earlier this year, the Retirement Plan Investment Recommended List was announced, a new resource designed to help advisors evaluate and monitor investment options for 401(k) and other defined contribution plans. The Retirement Plan Investment Recommended List was created to assist advisors in selecting investments that are diversified, well managed, and in line with the plan’s stated objectives—providing retirement plan advisors with effective tools while allowing them more time to consult with clients and address participant savings needs.

Commonwealth’s RCS team supports advisors’ retirement businesses by providing access to the best products, resources, and expertise. Our experienced team delivers unique value to advisors and is dedicated to providing comprehensive retirement support tailored to an advisor’s specific needs, helping each advisor build and maintain a successful practice.

About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation’s largest privately held independent broker/dealer–RIA, with headquarters in Waltham, Massachusetts, and San Diego, California. The firm supports approximately 1,600 independent advisors nationwide in serving their clients as registered representatives, investment adviser representatives, and registered investment advisers, as well as through hybrid service models. For more information, please visit www.commonwealth.com.

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