Who is Commonwealths clearing firm?
We have been clearing with National Financial Services LLC (NFS) since 1987. We were their first non-bank correspondent, and we remain one of the largest independent broker/dealers using their clearing services. Commonwealth is a member of both the Advisory Board and the Service Steering Committee NFS has established for its top correspondent firms. What many advisors might initially fail to appreciate is how different a clearing firm will look depending on which broker/dealer they are accessed through. For our part, we have chosen not to delegate key functions like transfer of assets and cashiering to NFS, and weve chosen to pay for upgraded optional services (e.g., expanded tax reporting) on behalf of our advisors. Perhaps of paramount importance, weve invested considerable time and money internally developing technology to customize the NFS experience for Commonwealth advisors.
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- Who is Commonwealths clearing firm?