Commonwealth Announces Highest Recruiting Results in Its 43-Year History, with New Assets Nearly Doubling from 2021

Record-breaking $90M in average assets under advisement for new advisors with predominantly fee-based or fee-only businesses.

WALTHAM, Mass.–(BUSINESS WIRE)–Commonwealth Financial Network®, a national firm dedicated to providing financial advisors with holistic, integrated business solutions, announced record-breaking recruiting results for 2022. For the full year, Commonwealth onboarded 270 advisors in new and existing practices across the country, representing $11.24 billion in total client assets.

Commonwealth’s advisor-centric approach and robust offerings have attracted top advisors and practices, with sizable average assets under advisement of $90 million for newly recruited advisors to the firm. The majority of assets recruited last year were fee-based, underscoring Commonwealth’s position as a leading independent RIA with the added benefit of delivering broker-dealer and insurance capabilities. Commonwealth’s wide array of solutions allows financial advisors to focus on planning-based, long-term client relationships.

“Despite the difficult headwinds our advisors, their clients, and the industry faced last year, our team was extremely successful in bringing top-caliber financial advisors to our firm,” said Wayne Bloom, Commonwealth’s CEO. “Our ambitious goal of reaching $1 trillion in assets under management is rooted in a well-managed growth strategy built around our advisor-centric values. As our recruiting results can attest, Commonwealth is the right partner for client-focused advisors who want to join a community built for financial advisors like themselves. At Commonwealth, we are committed to our advisors’ independence and equip them with the innovative tools, services, and support they need to grow the way they want to.”

Privately held for 43 years, Commonwealth has an ownership structure that invests in its advisors and offers them the ability to succeed on their own terms, supporting them in organic growth or growth through acquisition. For practices focused on financial planning and advisory services, Commonwealth provides a proven glidepath to move their practices to fee-only, enabling advisors to evolve as they choose.

“We’re grateful to the advisors who joined Commonwealth last year and strengthened our community,” said Becca Hajjar, managing principal and chief business development officer at Commonwealth. “Each advisor is unique and joins us from across the wealth management spectrum—RIAs, independent broker-dealers, regionals, and wirehouses. While their businesses and goals differ, they all chose to affiliate with us for our value proposition of providing a deep bench of expertise, culture, and services to take them to the next level. I look forward to seeing all we can accomplish together.”

Hajjar added, “We saw increased recruiting success in 2022 with ensembles and larger enterprise firms. In addition to evolving as a leading independent RIA, our wirehouse recruiting efforts are also gaining momentum as entrepreneurial advisors want to be in business for themselves. We provide them with a ‘soft landing’ that includes our Virtual Transition Support and expanded Outsourced Business Solutions offering.”

Financial advisors across ensemble practices and larger enterprises know that when they partner with Commonwealth, they gain access to a powerful community of highly respected peers with different views and approaches to wealth management. Commonwealth’s advisors have confidence in the firm’s boutique service and customized offerings and how they align specifically with their business and client service needs.

About Commonwealth Financial Network®

Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides financial advisors with holistic, integrated solutions that support business evolution, growth acceleration, and operational efficiency. J.D. Power ranks Commonwealth Financial Network “#1 in Independent advisor Satisfaction Among Financial Investment Firms, Nine Times in a Row.” Privately held since 1979, the firm has headquarters in Waltham, Massachusetts, and San Diego, California. Learn more about how Commonwealth partners with more than 2,100 independent financial advisors overseeing more than $242.9 billion* in assets nationwide by visiting

Commonwealth received the highest score among independent advisors in the J.D. Power 2010, 2012, 2013, 2014, and 2018‒2022 U.S. Financial Advisor Satisfaction Studies. Presented on July 6, 2022, for January to May 2022, it is based on responses from 3,039 advisors employed by or affiliated with the firms included in the study. Not indicative of the firm’s future performance. Your experience may vary. Use of study results in promotional materials is subject to a license fee. Visit for more details.

*As of 12/31/2022


For additional information:
Sarah Baun 781.464.7138

Public Relations Manager
Commonwealth Financial Network