Commonwealth Financial Network: What advisers think

[Text by J.D. Power and Associates]
Commonwealth Financial Network ranks highest in overall satisfaction with a score of 898 — 50 index points above the next-closest competitor. Commonwealth achieves the highest scores in each of the Independent adviser factors and performs particularly well in Contact, Firm Performance, and People.

Commonwealth achieves the highest score in Firm Performance (936). Advisers provide high ratings across all of the attributes, particularly Future financial outlook (9.41 on a 10-point scale). This is further validated by high Brand Image ratings for the Financially stable vs. Financially risky attribute (6.67 on a 7-point scale). Commonwealth’s strong performance in People (911) is based on high ratings for Home office/operational support (9.28) and Compliance support (9.18). Furthermore, nearly half of Commonwealth advisers have dedicated administrative support, compared with 40% industry average. In fact, advisers state they only share resources with 1.6 advisors, on average.

A high score for Product for Clients (900) is another strength for Commonwealth, which is largely driven by their performance on the Diversity of products attribute (9.32). Additionally, approximately only one in 10 advisers indicate that Commonwealth does not offer products that they would like available to their clients.

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