Commonwealth Financial Network selects Xtiva for enterprise-wide SPM technology solution

NEW YORK – APRIL 12, 2022

Xtiva, the only provider of Sales Performance Management Technology and Services exclusively for the financial service industry, announced that Commonwealth Financial Network®, a national firm dedicated to providing advisor-focused business solutions, has signed an agreement to deploy the Xtiva Reward incentive compensation module—part of the XtivaCloud Performance Platform—across its business. The rollout will take place over the course of the next year as Commonwealth continues to enhance the tools used to support its more than 2,000 affiliated advisors.

Key Benefits:

  • Single system of record to support all performance management objectives across the organization;
  • Increases operational leverage and continues to support streamlining of the technology platform while also reducing risk;
  • Support for inorganic growth with flexible configuration and dedicated Xtiva professional services expertise for fast and effective onboarding of new firms and advisors.

As described by Rick Scearbo, Chief Revenue Officer at Xtiva, “Commonwealth, a reputable growth and success partner for independent advisors, is committed to investing in its platform to provide exceptional service and meet the growing needs and expectations of its advisors. We’re proud to partner with this firm and provide our comprehensive set of services to support its compensation needs.”

“Xtiva’s compensation solution provides a flexible and reliable application powered by a robust platform,” said Jon Cleasby, senior vice president, chief financial officer at Commonwealth. “Partnering with Xtiva ensures that Commonwealth-affiliated advisors will have the support of cutting-edge technology as they grow and evolve their businesses.”

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About Xtiva

Xtiva Financial Systems provides the leading sales performance management (SPM) and incentive compensation management (ICM) systems for the financial services industry. Xtiva’s cloud-based Performance Platform enables financial organizations to drive scalable performance improvement through better business intelligence, sales enablement, talent management and supported by dynamic and compelling incentive compensation based on a single system of record. 90 financial service enterprises use Xtiva’s software, services and support, to maximize their salesforce investments and business performance. Xtiva’s customer obsessed team is dedicated to ensuring its customers and their partners achieve more every day.

Unlock front-office velocity. Drive revenue. Eliminate profit leakages. Achieve More. Learn more at http://www.xtiva.com, via Twitter or on LinkedIn.

About Commonwealth Financial Network®

Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides a suite of business solutions that empowers more than 2,000 independent financial advisors nationwide. J.D. Power ranks Commonwealth “#1 in Independent Advisor Satisfaction Among Financial Investment Firms, Eight Times in a Row.” Privately held since 1979, the firm has headquarters in Waltham, Massachusetts, and San Diego, California. Learn more about Commonwealth by visiting http://www.commonwealth.com.

Commonwealth received the highest score in the independent advisor segment of the J.D. Power 2010, 2012, 2013, 2014, 2018, 2019, 2020, and 2021 Financial Advisor Satisfaction Studies of customers’ satisfaction among financial advisors. Visit jdpower.com/awards.