What's a broker/dealer?

A broker/dealer is in charge of processing the investment business of the financial professionals who affiliate with it. These professionals (also called advisors) 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.

As a broker/dealer, Commonwealth is responsible for following securities laws as well as ensuring that our advisors:

Founded in 1979, Commonwealth Financial Network^® is the second-largest federally registered independent broker/dealer in the nation. Registered in all 50 states, we are home to over 1,200 registered representatives and their staffs, who are, in turn, served by approximately 450 professionals in our Waltham, Mass., and San Diego, Calif., offices. Commonwealth is 100-percent owned and operated by the management of the firm. Beyond the regulatory definition, however, lies a vibrant culture of dedicated individuals, both in the field and in the home office, all pursuing their respective careers and dreams. Generally, people first choose to visit Commonwealth because of our reputation. But the biggest reason people stay is the talent and enthusiasm of the individuals who make up our team. Through our Anything but Common^® philosophy, we recognize that the benchmark for excellence steadily escalates. Those three words continually challenge us to scrutinize, as well as to enrich, the environment we provide to support your personal aspirations. Simply put, our number-one objective is to give everyone affiliated with Commonwealth the opportunity to thrive! We fully understand that this is an uncommon primary objective for a twenty-first century business to have. Then again, we fully believe that it's one of the secrets of our success.

Who is Commonwealth's clearing firm?

We have been clearing with National Financial Services LLC (NFS) since 1987. We were their first non-bank correspondent, and we remain one of the largest independent broker/dealers using their clearing services. Commonwealth is a member of both the Advisory Board and the Service Steering Committee NFS has established for its top correspondent firms.

National Financial Services, LLC (NFS)

NFS - Behind the Scenes of Every Trade and Statement

As accounts are carried by National Financial Services, LLC (NFS) member FINRA/NYSE/SIPC, you can feel confident that much of the critical trade processing, clearance, client reporting, and systems work backing your investment professional is performed by an industry leader. NFS processes tens of thousands of transactions for millions of investors like you every day. NFS has both the vision and the resources to provide you with innovative products and services for many years to come.