As investment adviser representatives of Commonwealth Financial Network®, our compensation for advisory services will depend upon the goals and needs of our clients. We will first analyze your specific situation to determine the appropriate structure. Below is a brief description.
In most of our client relationships, particularly those with long-term or ongoing investment strategies, we’ll be compensated by a quarterly advisory fee, which is equal to a small percentage of the client’s assets and will be based on the account size and investment objectives.
While we believe most long term investment strategies will be best served by managed, advisory fee based portfolios, occasionally a commission-based investment product might be in the client’s best interest. (No advisory fees will be assessed against commissionable products and any commissions are fully disclosed if applicable.)
Additionally, needs for insurance products (life, disability income, and long term care) may be identified in the planning process and if the client chooses to purchase these solutions through us, there is a commission paid to us by the carrier.
We are compensated by consulting fees when our clients need a professional opinion on a variety of financial projects but want to remain free to implement any recommended course of action “on their own.” These services are available on an hourly basis or a flat fee for ongoing projects.
We receive a significant amount of our compensation when our current clients introduce us to friends, family, and colleagues who are a good fit for our practice. We prefer spending our time servicing our clients or assisting new client referrals, rather than marketing to unknown individuals or businesses.