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Illustration by Ellen Weinstein.

Many broker-dealers speak about the importance of their corporate culture and how careful they are to make sure there’s a “good fit” when they are recruiting new advisors. Commonwealth Financial Network CEO Wayne Bloom has a unique way to assess how well a prospective advisor would fit into his BD. After the recruiting team has done all its work, performing its compliance due diligence on the advisor, and after the prospect has visited the home office, Bloom takes them to dinner. He’s not interested in whether they’re vegetarians or meat-eaters, or whether they like alcohol too much or keep their elbows on the table. He wants to see how the prospect treats the waiter or waitress. Are they polite and gracious, or are they bullies? Do they show respect to the people who are serving them?


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