Commonwealth Ranks Highest in J.D. Power Independent Advisor Satisfaction, Four Times in a Row
WALTHAM, Mass.--(BUSINESS WIRE)--For the fourth time running, J.D. Power ranks Commonwealth Financial Network® “Highest in Independent Advisor Satisfaction Among Financial Investment Firms.”
“We believe that this award is the culmination of our continuous investment in service excellence, the commitment of a dedicated team who shapes the Commonwealth culture, and our focus on fully listening to those whom we serve, so we can best serve them.”
In the J.D. Power 2014 U.S. Financial Advisor Satisfaction StudySM, Commonwealth received its highest ever overall satisfaction score of 954 on a 1,000-point scale, compared with an industry average of 778, and outpaced the next-highest-ranked firm by 41 points. Commonwealth’s 954 score equates to “among the best” in the JDPower.com Power Circle RatingsTM on JDPower.com.
Commonwealth achieved the highest score in all seven key drivers of advisor satisfaction—advisor/professional support, client/customer-facing support, compensation, firm leadership, operational support, problem resolution, and technology support.
“To be the highest-ranked firm in the independent channel four consecutive times is truly humbling and remarkably gratifying,” said Commonwealth CEO Wayne Bloom. “We believe that this award is the culmination of our continuous investment in service excellence, the commitment of a dedicated team who shapes the Commonwealth culture, and our focus on fully listening to those whom we serve, so we can best serve them.”
The J.D. Power study found that firm leadership plays an integral role in cultivating advisor loyalty, specifically through building a values-oriented, client-focused culture, and effectively communicating a strategy that advisors believe in.
From executive management down to each department, Commonwealth partners with advisors to understand what helps drive their practices forward. Nurturing that transparent relationship helps facilitate conversations and strengthen connections—ensuring that we are consistently providing indispensable service and maximizing our advisors’ business potential.
Bloom continued, “We attribute our strong performance to our advisors—we are grateful not only for their commitment and support, but also for their partnership, which truly helps us improve. We depend on our advisors to actively let us know what benefits their practices and their clients, and they rely on us to deliver just that. We are pleased to be their trusted and valued independent broker/dealer–RIA, and we are motivated to continue on this upward trajectory.”
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation’s largest privately held independent broker/dealer–RIA, with headquarters in Waltham, Massachusetts, and San Diego, California. The firm supports more than 1,487 independent advisors nationwide in serving their clients as registered representatives, investment adviser representatives, and registered investment advisers, as well as through hybrid service models. For more information, please visit www.commonwealth.com.