Waltham, MA (February 26, 2020)—Commonwealth Financial Network® announces Matthew Chisholm has joined the firm as senior vice president, RIA services and practice management, a newly created role, effective January 20, 2020. As part of the firm’s continued investment in helping advisors efficiently operate and grow their fee-based practices, Commonwealth has linked RIA Services with Practice Management.
“We are thrilled to have Matt join our senior leadership team and are fortunate to gain his extensive experience in both the fee-only and practice management arenas to accelerate the natural evolution of our business,” said Wayne Bloom, Commonwealth CEO. “Matt’s track record of consulting with broker/dealers, hybrid firms, and independent RIAs in the custodial world will add tremendous value to the range of support we offer for fee-only advisors. As our industry continues to shift to fee-based advice, we are uniquely poised to partner with advisors not only where they are, but where they want to go.”
Chisholm will lead RIA Services and Practice Management at Commonwealth, ensuring that the firm’s advisors have access to the consultants, programs, and resources they need to build the scalable and sustainable business they want. Chisholm brings with him more than 20 years of industry experience, and he most recently served as head of practice management and consulting at Fidelity Clearing & Custody Solutions.
“Commonwealth is a forward-thinking, award-winning firm that has centered its business around integrity and consistency, and I am so pleased to be joining its RIA Services and Practice Management group,” said Chisholm. “I am fully committed to advancing the firm’s full spectrum of consulting for both existing and prospective advisors who know the direction they want to take their business but need guidance on finding the right path.”
Chisholm will report to Greg Gohr, managing principal, wealth management, who was recently elevated to the partner level. With the firm for 20 years, Gohr has led the Advanced Planning, Annuity Research, Insurance, Investment Management and Research, and Retirement Consulting Services teams. Gohr’s trusted judgment and deep knowledge of Commonwealth’s business and advisors set him up to lead in this new capacity.
“How to best grow your business goes far beyond what regulatory affiliation advisors choose—business consulting and analytics should provide the framework to help you determine your next step,” Gohr said. “Commonwealth’s emphasis on approaching affiliation from a strategic perspective rather than a tactical one will set advisors up for long-term success.”
As of January 31, Commonwealth has transitioned 119 advisors to a fee-only business model, with numerous additional firms under advanced consideration for 2020. Fee-only advisors represent $7.6 billion in total assets under management.
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network®, Member FINRA/SIPC, is the nation’s largest privately held Registered Investment Adviser–independent broker/dealer, with headquarters in Waltham, Massachusetts, and San Diego, California. J.D. Power ranks Commonwealth “#1 in Independent Advisor Satisfaction Among Financial Investment Firms, Seven Times in a Row.” The firm supports more than 2,000 independent financial advisors nationwide. For more information, please visit www.commonwealth.com.
Commonwealth received the highest score in the independent advisor segment of the J.D. Power 2010, 2012, 2013, 2014, 2018, 2019, and 2020 Financial Advisor Satisfaction Studies of customers’ satisfaction among financial advisors. Visit jdpower.com/awards.