J.D. Power and Associates Ranks Commonwealth Highest in Independent Advisor Satisfaction, Three Times in a Row
Waltham, MA (April 15, 2013)—For the third time in a row, J.D. Power and Associates ranks Commonwealth Financial Network® “Highest in Independent Advisor Satisfaction Among Financial Investment Firms.”
Commonwealth received a record-setting overall satisfaction score of 945 on a 1,000-point scale, compared with an industry average of 794, and outpaced the second place firm by an impressive 50 points. Commonwealth achieved the highest score in seven areas of advisor satisfaction—compensation, firm performance, job duties, people, products and offerings to clients, services and support offered to financial advisors, and technology.
“It is truly humbling to be the highest ranked firm in the independent channel three times in a row,” said Commonwealth CEO Wayne Bloom. “We take great pride in this award and attribute our strong performance to our respected advisors—who share our client-forward philosophy—and to our dedicated team who has helped shape the culture of Commonwealth into what it is today.”
The J.D. Power and Associates study determined that financial advisors’ success depends heavily on the relationships they are able to develop with their clients, and that the brand image of the firm an advisor is affiliated with may directly impact such relationships. Building long-lasting connections with advisors and carrying out a client-forward philosophy is at the core of Commonwealth’s business model. Commonwealth takes pride in placing the needs of advisors and their clients first and foremost.
Bloom continued, “We are continually investing in our indispensable service, and we are pleased to know that our efforts are recognized by our advisors. We remain steadfast as an independent firm privately owned by our founder and managing partners, and we are uniquely poised to continue to invest in what matters most to our advisors.”
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 more than 1,450 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.
About J.D. Power and Associates
Headquartered in Westlake Village, California, J.D. Power and Associates is a global marketing information services company operating in key business sectors, including market research, forecasting, performance improvement, training, and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit www.JDPower.com.
Commonwealth Financial Network® received the highest numerical score in the independent advisor segment in the proprietary J.D. Power and Associates 2010, 2012, and 2013 Financial Advisor Satisfaction StudiesSM. 2013 study based on 2,547 total responses and measures overall financial advisor satisfaction among advisors registered with the Financial Industry Regulatory Authority (FINRA) investment firms. Proprietary study results are based on experiences and perceptions of financial advisors surveyed in October 2012â€“February 2013. Your experiences may vary.