In Financial Planning's annual FP50 survey, Commonwealth Financial Network consistently stands out for its high percentage of fee-based revenue. Now the No.4 independent broker-dealer has rolled out a new advisor model: an affiliation that gives advisors access to Commonwealth's technology, investment platform and practice management services, along with Fidelity's custodial services - but still lets them operate independently.

"Why do I want to shrink the top of the sales funnel?" CEO Wayne Bloom replies when asked why the firm created the new model. "I want quality advisors who are investor-centric. How they're affiliated - it just doesn't matter to us."

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