Waltham, MA (July 7, 2020)—J.D. Power ranks Commonwealth Financial Network "#1 in Independent Advisor Satisfaction Among Financial Investment Firms, Seven Times in a Row."
In the J.D. Power 2020 U.S. Financial Advisor Satisfaction StudySM, Commonwealth received an overall satisfaction score of 942 on a 1,000-point scale, compared with an independent segment average of 784, and outpaced the next-highest-ranked firm by 76 points.
Commonwealth achieved the highest score in all reported key drivers of advisor satisfaction—leadership and culture, compensation, operational support, professional development, technology, and products and marketing.
"It's an honor to be the highest-ranked firm in the independent channel for seven straight times," said Commonwealth CEO Wayne Bloom. "This award demonstrates our unwavering commitment to our advisors, and we are incredibly grateful for both their partnership and their feedback—the driver of our efforts to continuously improve and best support their practices."
Bloom continued, "Amid industry change, we’re proud to consistently provide the service and support our community of independent advisors need to run their business their way—now and in the future."
The J.D. Power study found that improvements in technology is a key differentiator for advisors. Additionally, while predictive analytics tools still have relatively low adoption levels for advisors, when used, they have a powerful correlation to and positive effect on advisor satisfaction.
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. 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.