Commonwealth Launches Enhanced Support Offering for Breakaways Commonwealth’s new Business Consulting Services will provide dedicated transition support for advisors leaving the wirehouses to go independent.
Waltham, Mass.–based independent broker/dealer Commonwealth Financial Network has introduced a new offering to help lure breakaway brokers out of the wirehouses. Business Consulting Services, as the firm calls it, will be a suite of offerings to provide a so-called “soft landing” for employee advisors as they transition into owning and running a business as an independent.
“Going from a wirehouse to independent and having those entrepreneurial responsibilities is a headache and a big learning curve for them,” said Jonathan Henschen, president of the recruiting firm Henschen & Associates in Marine on St. Croix, Minn. “So anything broker/dealers can do to diminish those insecurities and diminish the learning curve it only makes sense.”