IQ Financial Advisor – Content Page

Commonwealth Financial Network says it launched a funding program to help advisers grow their practices without having to work with a third party.

The program, dubbed Entrepreneurial Capital, provides advisors with the capital needed to scale their practices, such as expanding operations, hiring additional staff, completing an acquisition or planning an exit, says Commonwealth. .

Developed in response to feedback from advisers, the program includes three types of loans as well as equity financing, according to Commonwealth. The company did not respond to FA-IQ’s question about loan types.

The program involves an underwriting process, competitive pricing, and approval and payment with flexibility in how the advisor uses the funds, says Commonwealth.

Advisors who choose to participate in the program will work with Commonwealth’s team of consultants and go through a discovery process that identifies the scope of their business needs and customizes debt or equity financing solutions for the advisor, according to Commonwealth. .

“We want to give advisors the leverage they need for anything they plan without the control associated with traditional capital lending and investing,” Matt Chisholmsenior vice president of registered investment advisory services and practice management, said in a statement.

“Whether it’s growth or succession planning, advisors should be able to retain the option and independence to achieve their vision while continuing to run their business the way they want,” added Chisholm.

Do you have a topical tip that you would like to share with FA-IQ? Email us at [email protected].