Commonwealth Financial Network has partnered with IPS AdvisorPro to offer advisors software for developing compliant, professional investment policy statements.

The Web-based system will allow Commonwealth advisors to quickly and easily create investment policy statements that reflect their individual firm philosophies and offerings, as well as the unique circumstances of their clients. Additionally, any changes to a firm's investment policy can be replicated to all previously created statements, with one click.

"In this era of financial services industry reform and a focus on a fiduciary standard of care, the use of an IPS has become critical for financial advisors," said IPS AdvisorPro co-founders Norm Boone, CFP, and Linda Lubitz Boone, CFP. "The IPS is rapidly being embraced by the industry as the go-to document and record of the agreements between financial advisor and client about how their money will be invested to ensure compliance with new regulations and to protect the firm from liability exposure."