Licensing

$1,000/advisor on average (includes fidelity bond, branch registration fee, and IAR/state fees; varies based on the number of states registered)

Errors and Omissions Insurance

Errors and Omissions Insurance:

Errors and omissions (E&O) insurance is a type of professional liability insurance that protects companies, their workers, and other professionals against claims of inadequate work or negligent actions.

$3,750 annually or $165/revenue cycle

Does not cover fixed products sold away from Commonwealth

SIPC Assessment

SIPC Assessment:

Fee paid to the SIPC to cover the costs of failed brokerage firms. SIPC member assessments and interest on U.S. government securities bought by SIPC are deposited into the fund. When the fund falls below a target level, SIPC members are assessed on a percentage of their revenues.

0.13 percent of gross broker/dealer reallowance, semimonthly, per each revenue cycle

For example, $130 per $100,000 in gross dealer concession 

Technology

Technology:

Covers usage of COMMunity Link and the Advisor360° suite.

$400/month per registered advisor

National Financial Services (NFS) Brokerage Account fees

Transaction schedule

NFS IRA Maintenance 

$35 annually

Under the Access Advisor Program, the IRA maintenance fee is wrapped into your payout.

Custody and Recordkeeping

$25 annually

There is an NFS inactivity fee for non-retirement accounts; exemptions apply.

Money Movement from NFS accounts

- EFTs: Free (bank line setup required)

- Regular mail: Free 

- Fed fund wire request: $15 each

- UPS delivery: $15 each

- Priority mail: $4 each

- Two-day delivery: $10 each

Alternative Investment (AI) Custody

- Registered Als: $35/position; maximum fee: $105/account per year 

- Nonregistered AIs: $125/position; maximum fee: $250/account per year 

- Purchases/liquidations/transfers: $50/position

Cyber Liability

Cyber Liability:

Provides coverage for breaches that could occur in your office. It includes paying for costs associated with data forensics, business interruption, notification costs, public relations, credit monitoring, and legal services. The cost is factored by the firm’s revenue, amount of personally identifiable information, and other business-related criteria.

$1,500–$3,000 (cost varies based on business criteria)

Texting

Texting:

Compliance-approved texting solution allows you and your staff to send and receive client texts through both Practice360° and COMMunity Link Mobile. 

Up to 500 texts per month free; $10 per 500 additional texts

QUODD Market Monitor

QUODD Market Monitor:

Web-based application provides easy access to streaming quotes, research, market data, news, and analytics. It also offers customizable workspaces to accommodate individual preferences from almost any computer with an Internet connection.

- Nasdaq Basic: $150/month 

- Consolidated L1: $277/month (added costs depend on entitlements purchased)

On-Site IT Consulting

$1,200/day per consultant plus travel expenses

Electronic Payment Fee

Electronic Payment Fee:

Clients may pay for Wealth Management and Retirement Plan Consulting services they receive from advisors through electronic payment delivery (ePay) using a credit/debit card or ACH. Fees associated with these transactions are deducted from the advisor’s compensation.

- Electronic Payment (ePay) Credit/Debit Card: 3.25 percent of the amount charged for each transaction 

- ACH: $1 per transaction (costs deducted from advisor’s compensation)

Premium Website

Project cost starts at $6,500 

Ongoing costs: 

- Platform Subscription: $60/month 

- Pro Support: 30 points, $860; 50 points, $1,300

Ready-Made Website

Project cost starts at $2,500 

Ongoing costs: 

- Platform Subscription: $60/month 

- Pro Support: 30 points, $860; 50 points, $1,300

Commonwealth and NFS Brochures

Varies per brochure: $0.50–$2 each

Commonwealth Research Package

$2,700/year per producing advisor

There is no added charge to add nonproducing staff.

Fi360 Toolkit

$2,800/year

Commonwealth’s Fiduciary Education Training Program

$250 onetime cost

Obtain an approved designation

Cost determined by sponsoring organization

Designations: 

- Accredited Investment Fiduciary® (AIF®)/(AIFA®)

- Chartered Retirement Plans Specialist^SM (CRPS®)

- Qualified Plan Financial Consultant (QPFC)

- Certified 401(k) Professional (C(k)P®)

- Global Fiduciary Strategist (GFS)

- Certified Plan Fiduciary Advisor (CPFA)

eMoney Advisor

$3,564/year

Call 888.362.8482 for other options and pricing.

MoneyGuidePro

- Pro Solo Practitioner 2 license: $1,100/year 

- Elite Solo Practitioner: $1,700/year 

- Ensemble/Elite Ensemble Office license: Call 800.743.7092 for pricing.

RightCapital

Yearly subscriptions will renew automatically on the date of initial sign-up:

- $960/year for an advisor and a staff member 

- $250/year for added staff logins 

- $250/year for custom asset classes

Holistiplan

Price varies based on the number of tax return uploads. Commonwealth advisors receive a 10 percent discount for premium subscriptions (currently costing $1,699 and above):

- Basic: $749/year for 30 uploads

- Premium: $1,699/year for 75 uploads

- Premium Plus: $3,199/year for 150 uploads

- Add on for state tax analysis: $299 for each tier

Less than $250,000

$300

$250,000–$2,999,999

0.12% (of plan AUM)

$3,000,000–$9,999,999

0.09% (of plan AUM)

$10,000,000–$49,999,999

0.05% (of plan AUM)

$50,000,000–$99,999,999

0.03% (of plan AUM)

$100,000,000 or more

0.02% (of plan AUM)