About Commonwealth Financial Network®
We recognized long ago in order to represent clients' best interest, we would need to be independent and objective in the financial planning process. In 1995, we partnered with Commonwealth Financial Network®, an independent broker/dealer. A broker/dealer engages in security transactions on behalf of clients and financial advisors. Commonwealth functions as our back office to provide an exceptional client experience. Commonwealth has been rated one of the best places to work in Massachusetts.
Commonwealth Financial Network is a privately held Registered Investment Adviser–independent broker/dealer based in Waltham, Massachusetts, and San Diego, California. Commonwealth was founded in 1979 by Joseph Deitch and was incorporated under the name Commonwealth Equity Services. In 1999, the name Commonwealth Financial Network was adopted. As of 2021, Deitch remains chairman of the firm. The firm is owned and controlled by its 13 managing principals.
Commonwealth has approximately 2,000 financial advisors, for whom it serves as a "back office," processing investment transactions on behalf of their clients, and to whom the firm provides resources and consulting services to support the advisors' businesses.