Commonwealth Financial Network
Commonwealth Financial Network, founded in 1979 and acquired by LPL Financial Holdings, Inc. in 2025, acts as a back office to its advisors, providing support in areas like operations, trading, and compliance. Commonwealth offers a range of investment advisory services and programs, including Preferred Portfolio Services (PPS) programs, wealth management consulting, and access to third-party asset managers. These services accommodate various client investment philosophies and objectives. Commonwealth advisors operate under their own names but provide advisory services under Commonwealth's supervision.
Fee Structure
Commonwealth Financial Network offers investment management through various programs like PPS Custom, PPS Select, and PPS Direct. Fees are generally calculated as a percentage of your portfolio, including cash and money market positions. The exact fees vary depending on the specific program and the agreement between you and your advisor.
Commonwealth generally offers two types of fee schedules: blended and breakpoint. With a blended schedule, different portions of your portfolio are charged at different rates. With a breakpoint schedule, the fee rate declines as your portfolio value reaches certain levels. All fees are negotiable between the advisor and client.
