Commonwealth Financial Network®’s Advisor360° Licenses Its 360° Software to MassMutual
WALTHAM, Mass.--(BUSINESS WIRE)--Feb 13, 2019--Commonwealth Financial Network ®, the nation’s largest privately held Registered Investment Adviser–independent broker/dealer, announced today that its new stand-alone technology company, Advisor360°, has entered into a licensing agreement with Massachusetts Mutual Life Insurance Co. (MassMutual), making available the Advisor360° suite of software tools to MassMutual’s advisors and field partners.
The Advisor360° suite comprises Client360° ®, which integrates portfolio, trade, contact, document, and wealth management in a single intuitive platform, giving financial advisors a truly comprehensive and interactive view of each client’s financial life; Practice360° ®, which delivers a single, powerful dashboard for streamlined practice-wide operations, workflow, and analytics; and Investor360° ®, which clients can use to holistically see their complete financial picture.
“We could not be more thrilled with this agreement, as it represents a win for all involved,” said Wayne Bloom, Commonwealth CEO. “We’ve been investing in and evolving our technology, in collaboration with our advisors, for more than 15 years, and it is so gratifying to know that a firm of the caliber of MassMutual wants to use it to help its own advisors.”
Bloom continued, “Most important, the agreement with MassMutual will enable us to accelerate the pace of our software development and ensure that our advisors’ tools remain on the cutting edge of what today’s—and tomorrow’s—top financial advisors need to thrive.”
From a service standpoint, both Commonwealth and MassMutual will maintain their existing service arms, and Bloom noted that the firm’s high-touch IT HelpDesk, as well as the 700+ employees who provide investment research, practice management consulting, compliance, operations, marketing, and a range of other support services, will remain exclusively devoted to Commonwealth’s own advisors.
“We are excited to be able to offer the 360° suite—and the operational efficiencies and client-service advantages it provides MassMutual,” added John Vaccaro, head of MassMutual Financial Advisors. “The high-quality, deeply integrated end-to-end Advisor360° software will provide immense value to our advisors and, importantly, our clients.”
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation’s largest privately held Registered Investment Adviser–independent broker/dealer, with headquarters in Waltham, Massachusetts, and San Diego, California. J.D. Power ranks Commonwealth “Highest in Independent Advisor Satisfaction Among Financial Investment Firms, Five Times in a Row.” The firm supports approximately 1,950 independent financial advisors nationwide. For more information, please visit www.commonwealth.com.
Commonwealth received the highest score in the independent advisor segment of the J.D. Power 2010, 2012, 2013, 2014, and 2018 Financial Advisor Satisfaction Studies of customers’ satisfaction among financial advisors. Visit jdpower.com/awards .
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190213005833/en/
CONTACT: Jacquelyn Marchand
Senior Manager, Media Relations
Commonwealth Financial Network
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES CONSULTING FINANCE INSURANCE
SOURCE: Commonwealth Financial Network
Copyright Business Wire 2019.
PUB: 02/13/2019 04:52 PM/DISC: 02/13/2019 04:52 PM