Commonwealth Financial Network has unveiled its latest offering – the "Select Compass" advisory account. This program is designed to instill confidence in the firm's 2,200 advisors and facilitate a seamless transition of investment decision-making to the home office, according to AdvisorHub.

With "Select Compass", Commonwealth advisors gain the flexibility to adjust asset allocations across approximately 100 home-office model portfolios. Meanwhile, the firm still takes charge of crucial aspects such as due diligence, monitoring, reporting, rebalancing, and streamlining the investment process for its advisors.

This initiative marks an expansion of the existing "Select" program, differentiating itself from the widely embraced "Custom" program. In the "Select" program, the home office exercises full discretion over allocations, presenting a balanced alternative to the advisor-driven "Custom" program, where advisors retain autonomy in building and monitoring portfolios.

Despite initial reservations among Commonwealth advisors about relinquishing control, the "Select" program, under home-office guidance, has amassed $12 billion in assets. In contrast, the advisor-driven "Custom" program has attracted over $140 billion in assets.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.