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Commonwealth financial network stock

commonwealth financial network stock

Commonwealth Financial Network: 9 Tips for Becoming a Virtual Training Virtuoso · Take your virtual training to the next level with these nine simple tips. · 1). Find company research, competitor information, contact details & financial data for Commonwealth Financial Network of Pittsford, NY. FCF - First Commonwealth Financial Corporation. NYSE - NYSE Delayed Price. Currency in USD. 15.23. -0.24 (-1.55%). At close: December 3 04:00PM EST.
commonwealth financial network stock

Commonwealth Research Team

As a research associate, Peter supports analysts with due diligence and research activities on commonwealth financial network stock funds, exchange traded-funds, and equities. He also assists the Investment Management team with calculating, analyzing, and updating internal and external performance and attribution reports. Peter graduated from Worcester Polytechnic Institute in 2012 with a BS in management, with an emphasis in finance, and is currently a Chartered Financial Analyst®(CFA®) candidate (level I). Prior to joining Commonwealth, he interned for Strategic Financial Partners and Baystate Wealth Management in Waltham and Boston.


Tom Scarlata

Investment Research Associate

As a research associate, Tom supports analysts with due diligence and research activities on fixed income and alternative investments. He also assists with aggregating and presenting daily, weekly, and monthly investment analysis and performance reporting. Tom graduated from Bentley University with a BS in economics and finance. Prior to joining Commonwealth, Tom worked as an intern for a private equity firm in Boston and ran the Bentley University Investment Group’s financial sector.



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We are an independent financial firm that has been helping the good people of West Michigan and beyond establish and maintain their long-term financial goals for many years.

James F. Parker, Registered Securities Principal, partners with you to develop a course of action based on your values, comfort level, current situation, and timeline. If you don't understand something, we want to explain it to you. If you’re not sure about a particular investment, we’ll tell you why we think it would work for you. Or we’ll find an alternative you can be comfortable with. We think you will agree that our way is anything but impersonal.

We think we’ve got the best jobs in the world. We help people work toward the goals they cherish—and we love doing it. Every day, there’s yet another reward that keeps us coming back to work enthusiastically. Along with our broker/dealer, Commonwealth Financial Network, our knowledge, expertise, and experience will help you to pursue your financial goals.

If you’re a current client, you’ll sign up for capital one checking account links to access your account, make appointments with us, get up-to-date information about the stock markets, and view useful resources that can help empower you to be a more knowledgeable investor (the kind we like!).

If you’re not currently acquainted with our firm, we’ve established this website as a way for you to get to commonwealth financial network stock us and understand how we can help you achieve your financial goals. We’ve tried to make your visit to our virtual office very similar to the experience of our real office. But we are well aware of the shortcomings of computers and monitors, which is why we invite you to contact us to schedule a complimentary meeting and get to know us!

We appreciate your interest in our firm and sincerely look forward to serving you.


Registered both as an investment advisor and brokerage firm, Commonwealth Financial Network has more than $130 billion in assets under management (AUM). The firm views its financial advisors as small business owners rather than sales staff, so it acts as their “back office.” Most of these advisors are also brokers and insurance agents, which means they can receive commissions from vendors, on top of client fees. As a result, Commonwealth is a fee-based advisory firm. 

With advisors across the country, the firm has headquarters in Waltham, Massachusetts, and San Diego. In 2019, it reported that its advisors had the highest gross revenue among independent broker-dealers, according to Financial Advisor.

Commonwealth Financial Network Background

Joseph Deitch founded Commonwealth in 1979, originally calling it The Cambridge Group. His vision was to start an independent broker-dealer that didn’t have the conflicts of interest that his former firm had. This is likely why Commonwealth does not have its own proprietary investment products. Instead, it provides advisors with technology, compliance support and tools, research support, marketing support, continuing education and more.

In 1991, Investment Advisor magazine named Commonwealth “Broker-Dealer of the Year” in the inaugural year of the award. The firm won the honor two more times that decade. Since then, Deitch commonwealth financial network stock stepped away from day-to-day operations and serves as chairman. He still owns a large part of the company through a trust. Almost a dozen other current employees are also stakeholders. 

Commonwealth advisors have various financial accreditations, including the certified financial planner (CFP), chartered financial analyst and chartered alternative investment analyst (CAIA) designations, among others.

Commonwealth Financial Network Client Types and Commonwealth financial network stock Account Sizes

The minimum investment needed to open an account here varies depending on the program. At the low end, the minimum is $1,000 for a passive model portfolio in the Preferred Portfolio Services (PPS) Select program. At the high end, the minimum is $500,000 for an account in the PPS Select Fixed Income SMA program. That said, Commonwealth may waive its minimum requirements at its own discretion.

Given that these minimums are relatively low, the great majority of Commonwealth's individual clients do not have high net worths. The firm’s advisors do work with high-net-worth individuals, of course, plus businesses, pension and profit-sharing plans, state and municipal government entities and charitable organizations.

Services Offered by Commonwealth Financial Network 

Commonwealth’s advisors offer an array of investment products, asset allocation services, financial planning and consulting services. The investment programs, which can be delivered through a wrap fee program, are:  

  • PPS Custom - This program features personalized investment portfolios, usually on a commonwealth financial network stock basis, using one or more investment types. These can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), UITs, variable and fixed-indexed annuities and alternative investments.
  • PPS Select - This program offers a selection of model portfolios that are managed on a discretionary basis by Commonwealth’s investment management and research team. Portfolio types include mutual fund and ETF portfolios, equity portfolios, fixed-income portfolios and variable annuity subaccount portfolios.
  • PPS Direct - This program is centered around a variety of model portfolios managed by one or more third-party portfolio managers on a discretionary basis. They may be constructed with mutual funds or ETFS, individual stocks and bonds (in a separately managed account), by third-party investment advisors using mutual funds and ETFs or as a unified managed account (multiple separately managed accounts).

Additionally, within its third-party asset management program, Commonwealth advisors can recommend unaffiliated money managers and act as a subadvisor. Account minimums generally run from $25,000 to $50,000.

Commonwealth Financial Network Investment Philosophy

Commonwealth offers a full array of investing strategies for associated bank credit card customer service kind of client profile. If its advisors don’t have the niche expertise needed, they will recommend an independent money manager. That said, the firm generally applies the concepts of dollar-cost averaging (buying fixed amounts on a regular schedule) and asset allocation. Advisros may also utilize technical, fundamental, quantitative and qualitative methods of securities analysis.

Fees Under Commonwealth Financial Network 

Commonwealth’s fees for portfolio management services are based on a percentage of AUM, and they are generally paid quarterly. These fees vary by program, and they may be negotiable.

Below are the fee schedules for the PPS Custom, PPS Select and PPS Direct programs. Fees for third-party advisor-managed programs are available through the third-party manager themselves. For context, a 2018 study by RIA in a Box showed the average annual advisory fee was 0.95% of AUM.

PPS Custom Program Annual Management Fees*
AUMMaximum Fee
$0 to $749,9992.25%
$750,000 to $999,999 2.00%
$1MM to $1,999,9991.75%
$2MM and up1.50%


PPS Select Program Annual Advisor Fees*
AUMMaximum Fee
$0 to $499,9992.00%
$500,000 to $999,9991.75%
$1,000,000 to $4,999,9991.50%
$5,000,000 or moreNegotiable


PPS Direct Program Annual Advisor Fees*
AUM Max Advisor Fee
Up to $250,0002.21% 
Next $250,000 – $500,0002.25% 
Next $500,000 – $1MM 2.27%
Next $1MM – $2MM2.29% 
Next $2MM – $5MM2.31% 
$5MM and up2.33%

Clients in wrap fee programs may also have to pay program fees or platform fees. Clients not in wrap fee programs also pay transaction fees, custodial fees and other charges.

For financial planning or wealth management consulting services, fees may be annual for ongoing services, a flat fee or an hourly rate of up to $500 per hour.

What to Watch Out For

Commonwealth had 15 disclosures in its most recent SEC filings. Five had to do with affiliate advisors. The other 10 involved the company itself, resulting in fines or penalties ranging from $15,000 to $300,000. In one of the most recently completed actions, which was brought by the U.S. Securities and Exchange Commission (SEC), the firm agreed to pay $1,426,700 in disgorgement and $210,603 in prejudgment interest for allegedly purchasing, recommending or holding mutual fund share classes that charged 12b-1 fees instead of shares classes that had lower costs, during the first three months of 2014.

As noted earlier, your Commonwealth advisor may also be a broker or insurance agent who receives commissions on sales. This can result in a potential conflict of interest. That said, Commonwealth’s advisors are legally bound to work in clients’ best interests due to their fiduciary duty.

Opening an Account With Commonwealth Financial Network

If you're interested in working with Commonwealth, go to the firm's website to find one of its advisors near you. You can also reach the firm's headquarters over the phone at (781) 736-0700.

All information is accurate as of the writing of this article. 

Tips for Finding the Right Financial Advisor 

  • Use SmartAsset’s free financial advisor matching tool to connect with advisors in your area. You'll receive up to three matches, with the final choice of who to work with being up to you.
  • Also ask about the advisor’s client base. If his or her amazon victoria secret pink hoodie mostly have a high net worth, and you are not that wealthy, you may want to work with someone who won’t think of you as small change. Conversely, if you do have sizable assets and the advisor mostly works with less affluent investors, you probably want someone with the experience and know-how to help people at your asset level.
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CBA shares savaged over shrinking margin

CBA chief executive Matt Comyn said the bank was undeterred by the challenges it faced and was well-placed to execute its strategy to develop more in-depth relationships through technologies such as its market-leading app.

Mr Comyn said CBA had experienced above-system growth in key markets of mortgages and business loans, and was optimistic the recovery would continue to pick up speed leading to improved operating conditions.

Economic recovery

“While we anticipate a significant drop in GDP for the third quarter of 2021, we believe there will be a strong recovery in economic growth by the end of the year and throughout 2022,” he said.

“The success of the COVID-19 vaccination rollout means Australia is well positioned to benefit from a much brighter 2022 with a forecast rise in GDP of 5 per cent and unemployment falling to around 4 per cent over the coming 12 months.”

CBA signalled the likelihood of increased margin pressure at the full-year result in August, noting the higher proportion of liquid assets, the environment for home loans and the end of the Reserve Bank’s Term Funding Facility (TFF).

The TFF alleviated margin pressure felt by banks by offering them three-year money at rates of 0.25 per cent or more favourable terms than it could achieve elsewhere. The last of the drawdowns were completed in June.

With the Reserve Bank staying steady on its promise to hold the cash rate until it saw material improvement in the economy, investors do not see any short-term relief from the low-interest rate crunch banks are enduring.

Margin pressure

Airlie Funds Management portfolio manager Matt Williams said the market was primed and ready to pounce on any sign of margin deterioration following full-year results from rival banks.

“The CBA sell-off was definitely spooked by margin pressure and those fears were heightened after Westpac’s result. With the sector trading on a 25-year high pre-provision profit multiple, there is very little room for bad news,” Mr Williams said.

CBA and other banks do not reveal precise figures for net interest margins at quarterly results and instead provide guidance on its direction or whether it is stable. The bank’s use of the phrase “considerably lower” delivered a sharp jolt to analysts and investors.

On numbers run by Citi analyst Brendan Sproules, the bank’s net interest margin might have fallen from the 204 basis points it reported at the second half in August to the low 190s, describing it as a “large miss” for CBA.

“Higher liquid assets is a material driver of this contraction, which we estimate contributed six to seven basis points. But mortgage front book trends and abnormally high fixed rate lending would have been factors,” Mr Sproules wrote.

Steep valuation

Citi’s Mr Sproules noted the bank traded at 2.4 times book value – one of the steepest valuations for a bank anywhere in the world – before concluding “we see little to justify the premium in this result”.

Shrinking margins overshadowed the bright spots of the result, which showed the CBA machine growing across key banking lines of deposits, mortgages and business lending.

CBA said household deposits were up $20.4 billion over the quarter or 1.1 times the average lender, home lending was up $10.1 billion over the quarter or 1.2 times the average and business lending was up $3.1 billion over the quarter or 1.5 times the average.

Evans and Partners analyst Matthew Wilson said the bank appeared to be benefiting from Westpac’s woes but expressed concerns about its ability to maintain operational excellence while pursuing its ambitions of becoming a platform-style business along the lines of Apple or Google.

“CBA at its soul, is a very effective home loan provider and deposit gatherer. The home loan cycle looks very tired,” Mr Wilson said.

Expenses were 1 per cent lower on falling remediation costs but 3 per cent higher after excluding remediation on higher staffing costs because of lower annual leave use, a surge in staffing and a commonwealth financial network stock quarter.

CBA took a loan impairment expense of $103 million in the quarter, equivalent to 5 basis points of gross loans and acceptances. The value and mix of provisions was unchanged at $6.2 billion, and it had $900 million in individual provisions and $5.3 billion in collective provisions.

Consumer arrears were lower, supported by fewer opportunities to spend as many customers were in lockdown for at least part of the reporting period. About 10,000 customers or 1 per cent of the portfolio took advantage of revised temporary loan deferral arrangements, CBA said.

It reported a fall in its sector-leading common equity tier 1 (CET1) ratio to 12.5 per cent from amazon prime promotional credit balance per cent for the full year with about 79 basis points going towards the bank’s second-half dividend. It will fall further to 11.2 per cent once the impact of its $6 billion buyback is accounted for.

The payment of the dividend and the buyback puts rival NAB at the top of the capital tree, which reported CET1 of 13 per cent at its full-year result last week. However, this is likely to be temporary as NAB pays out its second-half dividend and completes the rest of its own $2 billion buyback.

James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at [email protected]

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