Commonwealth Financial Network has opened a new foundation, the Commonwealth Cares Fund, to give its 1,400 reps a new way to give back to their local communities and the world.
At the moment, it seems like the foundation is focused on national causes that can harness the efforts of the entire network -- the first program associated with it is an internal charity that gives morale-boosting hats to kids undergoing chemotherapy.
Still, there's a promise that Commonwealth Cares will "support advisors' charitable efforts" as well. Whether this means some sort of matching program, a mechanism for nominating a cause, or something else remains to be seen.
Commonwealth will shoulder the miscellaneous costs of running the foundation, letting it pass on 100% of its assets to its people and causes who need help.