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COMMONWEALTH EQUITY SERVICES, LLC

DBA: COMMONWEALTH FINANCIAL NETWORK

WALTHAM, MACRD #8032SEC #801-41541As of 2026-05-31

AUM Over Time

Discretionary
Non-Discretionary

At a Glance

Total AUM$212.66B
Discretionary$207.63B98% of AUM
Non-Discretionary$5.03B
Client Accounts615,215
Avg Account Size$346K
Employees4,200
Peak AUM$212.66BMar 2026
AUM CAGR+20.5% /yrover 25 yrs · 110 filings

AUM by Client Type

Total AUM

$212.7B

Firm Change Matrix

MetricLatest1Y3Y CAGR5Y CAGRTrend
Firm Scale
Total AUM$212.7B+1.4%+12.9%+9.9%
Discretionary AUM$207.6B+2.1%+13.2%+9.9%
Non-Disc. AUM$5.0B22.3%+2.0%+10.3%
Total Accounts615k8.4%+1.6%+5.2%
Avg Account Size$345,667.849+10.7%+11.1%+4.5%
Employees4k13.4%0.8%+3.8%
AUM / Employee$51M+17.1%+13.7%+5.9%
Client AUM Segments
Wealth AUM$202.3B+1.3%+12.8%+9.9%
Institutional AUM$10.4B+3.2%+13.9%+10.9%
Client Count Segments
HNW Clients314k11.6%2.0%+0.3%
Institutional5k11.5%9.4%2.9%
Individuals42k+7.4%+36.7%+21.2%

Key Metrics

Total AUM$212.66B
Discretionary$207.63B
Employees4200
Client Accounts615215
Client RangeMore than 500

Contact & Location

Address

275 WYMAN STREET
WALTHAM MA 02451-1200

Phone

781-736-0700

Filing History

110 ADV Part 1 submissions

Fee Structure

% of AUMHourlyFixed FeesCommissions

Advisory Services

Financial PlanningPortfolio Mgmt (Individuals)Pension ConsultingAdviser SelectionPublicationsSecurity Ratings
Growth

AUM Growth Rate (Annualized YoY %)

Firm Profile

Normalized 0–100 scores across six dimensions.

Discretionary vs Non-Discretionary

Discretionary

$207.6B

97.6% of AUM

Non-Discretionary

$5.0B

2.4% of AUM

Disc. mix ▲ 0.7pp vs 1 year ago

Discretionary
Non-Discretionary

Average Account Size

AUM per Employee

Non-US Client AUM

Headcount Over Time

Total Employees
Advisory Staff
Clients

Client Account Growth

Total Accounts
Discretionary
Non-Discretionary

Clients by Type (Latest)

Client Type Mix Over Time

High Net Worth
Individuals
Pension Plans
Corporations
Government
Risk & Structure

Regulatory Disclosures

⚠ Disclosures Reportedfirst noted Mar 2006
•SRO proceeding/bar

Custody

Bank CustodyBroker-Dealer CustodyAudited Financials

Other Registrations

Broker-Dealer

Related Entities (Item 7)

Broker-DealerInvestment AdviserPension Consultant