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COMMONWEALTH FINANCIAL NETWORK
Legal name: COMMONWEALTH EQUITY SERVICES, LLC
CRD 8032File 801-41541
APPROVED
Retail clients
Custody
Disclosure events
Filing as of Sep 29, 2026
Feed vintage Oct 1, 2026
Regulatory AUM
$212.66B
Top 10% of cohort (national)
Discretionary AUM
$207.63B
Non-discretionary $5.03B
Clients
360,488
615,215 accounts
Employees
4,200
Top 10% of cohort in MA
Identity & registration
ADV Item 1- Organization form
- Limited Liability Company
- Firm type
- Registered
- SEC region
- BRO
- Registration date
- Jun 11, 1992
- Principal office
- 275 WYMAN STREET, SUITE 400, WALTHAM, MA, 02451-1200
- Phone
- 781-736-0700
- Website
- HTTPS://WWW.COMMONWEALTH.COM
Assets & accounts
ADV Item 5F- Total regulatory AUM
- $212.66B
- Discretionary AUM
- $207.63B
- Non-discretionary AUM
- $5.03B
- Discretionary accounts
- 598,423
- Non-discretionary accounts
- 16,792
- Total accounts
- 615,215
- AUM per client
- $590K
Clients by type
ADV Item 5D| Client type | Clients | AUM |
|---|---|---|
| Other | 2,603 | $4.13B |
| Charitable organizations | 405 | $1.08B |
| High net worth individuals | 41,874 | $108.69B |
| Pension and profit sharing plans | 1,207 | $1.95B |
| State or municipal government entities | 300 | $3.20B |
| Individuals (other than high net worth individuals) | 314,099 | $93.62B |
Compensation & activities
ADV Items 5E, 5GCompensation
- Fixed fees
- Commissions
- Hourly charges
- A percentage of assets under your management
Advisory activities
- Other
- Publications
- Financial planning services
- Selection of other advisers
- Portfolio management for other
- Portfolio management for businesses
- Portfolio management for individuals and/or small businesses
Custody
ADV Item 9- Firm Custody Cash
- Yes
- Firm Custody Assets
- No
- Firm Custody Clients
- No
- Firm Custody Securities
- Yes
- Related Person Custody Cash
- No
- Related Person Custody Assets
- No
- Related Person Custody Clients
- No
- Related Person Custody Securities
- No
Disclosure events
ADV Item 11- Q11A2
- Q11C1
- Q11C2
- Q11C4
- Q11C5
- Q11D2
- Q11D4
- Q11E2
Filed changes
| Date | Field | From | To | Change |
|---|---|---|---|---|
| Apr 1, 2026 | Employees | 4,850 | 4,200 | decreased by650 |
| Apr 1, 2026 | Clients | 399,450 | 360,488 | decreased by38,962 |
| Apr 1, 2026 | AUM | $209,735,339,476 | $212,660,045,528 | increased by$2,924,706,052 |
| Apr 1, 2026 | Accounts | 671,650 | 615,215 | decreased by56,435 |
| May 1, 2025 vs Oct 1, 2022 | Employees | 4,000 | 4,850 | increased by850 |
| May 1, 2025 vs Oct 1, 2022 | Clients | 330,959 | 399,450 | increased by68,491 |
| May 1, 2025 vs Oct 1, 2022 | AUM | $161,852,722,626 | $209,735,339,476 | increased by$47,882,616,850 |
| May 1, 2025 vs Oct 1, 2022 | Accounts | 540,172 | 671,650 | increased by131,478 |
| Apr 1, 2022 | Employees | 3,500 | 4,000 | increased by500 |
| Apr 1, 2022 | Clients | 331,308 | 330,959 | decreased by349 |
| Apr 1, 2022 | AUM | $133,519,406,156 | $161,852,722,626 | increased by$28,333,316,470 |
| Apr 1, 2022 | Accounts | 480,086 | 540,172 | increased by60,086 |
| Apr 1, 2021 | Registration | — | APPROVED |
On Form 5500, an adviser usually appears as a plan service provider (Schedule C), not the plan sponsor.
See plans that list “COMMONWEALTH FINANCIAL” as a service provider on 5500mcp →Matched by name only — Form ADV and Form 5500 share no identifier, and names are searched loosely (“COMMONWEALTH FINANCIAL” may also match similarly-named firms). Confirm identity against each filing.
Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.