Commonwealth Boosts RIA Services with Dedicated Compliance Officer
Firm seeks to accelerate fee-only evolution and attract RIAs with key hire.
Waltham, MA (September 21, 2021)—Commonwealth Financial Network®, a national firm dedicated to providing advisor-focused business solutions, announces the hiring of Alexander W. Hansen, J.D., AIF®, as SVP, RIA compliance. The role will be integral to shoring up Commonwealth's enhanced support services for fee-only advisors and RIAs as the firm pursues strategic growth.
"Our industry and the regulatory landscape are changing rapidly, and so are our advisors' business models. This is why Commonwealth is investing resources into supporting our existing and incoming RIAs, as well as helping advisors transition into the fee-only world. To these advisors, compliance represents a challenge that we happen to view as a tremendous opportunity," said Paul Tolley, Commonwealth's managing principal, compliance. "Alex's strategic vision for RIA compliance support, his deep understanding of compliance technology solutions, and consultative approach will help us accelerate our RIA recruitment and position our valued advisors for success."
In lockstep with senior leadership and Commonwealth's Compliance teams, Hansen will be responsible for supervising and managing all aspects of RIA compliance—including designing, implementing, and updating policies, systems, and processes—and responding to the evolving needs of Commonwealth, its staff, and its community of advisors.
Prior to joining Commonwealth, Hansen served as SVP, chief compliance officer at Dynasty Financial Partners, where he was the subject-matter expert on compliance aspects of transitioning advisor teams to independent RIA firms and assisting them with their ongoing regulatory obligations. Hansen also held high-level compliance roles at Citigroup Global Markets and Raymond James. Hansen graduated from Marist College and earned his Juris Doctor from Stetson University College of Law. He earned an AIF® designation and currently holds his FINRA Series 7, 24, and 66 securities registrations.
"Commonwealth has been on my radar for years as a service-centric organization focused on the needs of its advisors. Helping independent advisors run effective, efficient, and, most important, compliant practices is what gets me excited about my job, so it feels like a perfect fit," said Hansen. "I'm looking forward to guiding the continuing evolution of our compliance consulting services and support we provide to fee-only advisors."
Hansen will report to Tolley, who oversees Commonwealth's Compliance department and teams.
About Commonwealth Financial Network®
Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides a suite of business solutions that empowers more than 2,000 independent financial advisors nationwide. J.D. Power ranks Commonwealth “#1 in Independent Advisor Satisfaction Among Financial Investment Firms, Eight Times in a Row.” Privately held since 1979, the firm has headquarters in Waltham, Massachusetts, and San Diego, California. Learn more about Commonwealth by visiting www.commonwealth.com.
Commonwealth received the highest score in the independent advisor segment of the J.D. Power 2010, 2012, 2013, 2014, 2018, 2019, 2020, and 2021 Financial Advisor Satisfaction Studies of customers' satisfaction among financial advisors. Visit jdpower.com/awards.