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Home > Financial Services > Stock Brokers > Commonwealth Financial Network
Commonwealth Financial Network
Commonwealth Financial Network is a member of NASD, the National Association of Securities Dealers. NASD is a self-regulatory organization of the securities industry responsible for the operation and regulation of the NASDQ stock market and over the counter markets. It also administrates exams for the investments professionals, such as the series of 7 exams.
Joseph Deitch founded Commonwealth in 1979 as an outgrowth of his retail financial planning practice, The Cambridge Group. Previously, he had been a representative with another broker and dealer. When that firm’s credibility was undermined by conflicts of interest stemming from its own proprietary products, he decided to start a new broker/dealer.
Back in 1979, there weren’t as many viable independent broker/dealer to choose from as there are today, so the original business plan assumed that other disenfranchised financial planners would see Commonwealth as a breath of fresh air.
It took a while. While a growth rate that doubles every year sounds impressive, it means little when you have only two representatives. Eventually, the numbers became meaningful. They started to prosper, adopting the Commonwealth name in 1981 to reflect their desire to foster the common good of their employees and representatives.
Ultimately, their success depends on their ability to satisfy the needs of the registered representatives who choose them as their broker/dealer. Over the years, they have consistently raised the service bar as they have grown in size and stature within their industry.
The essence of Commonwealth is to provide a supportive environment where all affiliated individuals can thrive. The four tenets of their mission statement are profitability, indispensable service, fun, and individual development.
Their philosophy of Anything but Common acknowledges that the benchmark for excellence steadily escalates. Their goal of 100 percent satisfaction for their representatives means that everyone in their home office is driven to do whatever it takes to help their advisors be their best every day.
A broker/dealer is in charge of processing the investment business of the financial professionals who affiliate with it. These professionals also called representatives are independent business owners who provide financial guidance to people in their community. Because the securities industry is heavily regulated, representatives can only have one broker/dealer to ensure that there is an established, clear chain of responsibility.
They’re constantly celebrating their achievements throughout the entire company. They’re only limited in the future by their imagination and determination.
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