Any experience with Commonwealth?

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Dec 30, 2006 3:55 pm

I have done extensive research on both firms. 

LPL: Self- clearing model is positive, tech is just slghtly better than CFN's - Some things better some things not.  BIg Size-corporate feel (good or bad your persepctive).  Going public (may or may not be a negative), The way they hold Planning fees from reps until you deliver the plan is terrible.

Commonwealth: Small family feel, personal customer service is second to none. 

Both firms are really good but if you are a wealth manager who has planning as a backbone and primary of what you do the choice is simple - Commonwealth.  Less restricitve on the planning. 

Dec 30, 2006 9:04 pm

Commonwealth clears through NFS which is a problem.

Dec 30, 2006 9:30 pm

Ohio what exaclty are the issues that crop up with the LPL planning.  Also $$$$ you feel that Commonwealth not clearing is a huge issue, or are you referring to NFS has a zoo when it comes to clearing.

Dec 30, 2006 10:31 pm

NFS is a zoo when it comes to clearing. BOA clears through them. I am only looking at self clearing firms as a result of my experiences with NFS. Bad service, and a great deal of errors to the client.

Dec 31, 2006 6:13 am

Thanks for the info ez.  While were looking at other indy b/ds wondered if you had any thoughts on TransAmerica on the investment side of the house.