Brad McMillan, CFA, CAIA, MAI

Brad McMillan, CFA®, CAIA, MAI, is chief investment officer at Commonwealth Financial Network®, member FINRA/SIPC, the nation's largest privately held Registered Investment Adviser–independent broker/dealer. As CIO, Brad chairs the investment committee and is the primary spokesperson for Commonwealth’s investment divisions. Brad received his BA from Dartmouth College, an MS from MIT, and an MS from Boston College. He has worked as a real estate developer, consultant, and lender; as an investment analyst, manager, and consultant; and as a start-up executive. His professional qualifications include designated membership in the Appraisal Institute (MAI), the CFA Institute, and the CAIA Association. Brad speaks around the country on investment issues and writes for industry publications, as well as for this blog.
Find me on:

Recent Posts

Will the China Coronavirus Strike Investments?

January 24, 2020

One of the potential disruptors of the generally positive economic news surfaced in the form of a viral outbreak in China last week. Known as the coronavirus, as of this morning, there were 895 cases in mainland China (mostly in the Wuhan area) and 26 deaths, for a mortality rate of less than 3 percent. There were also at least 20 other cases around the world, including 1 case here in the U.S. The comparison that is being made is to the last major new disease from China, SARS, in 2003.

Continue reading → Leave a comment

Will the China Phase One Deal Spell the End of the Trade Wars?

January 23, 2020

With the recent signing of the phase one trade deal with China, the sense has been that everything is all set, and we can now move on. There is some truth to this belief, as the deal is better than nothing. Still, the agreement leaves many issues unresolved and even creates some new ones.

Continue reading → Leave a comment

NAFTA Versus the USMCA: What’s Different?

January 22, 2020

The North American Free Trade Agreement (NAFTA) is just about to be formally replaced by the United States–Mexico–Canada Agreement (USMCA). This news has generated both headlines and optimism in recent weeks, as a sign that progress can be made on trade issues. With the approval of the agreement by both the House and the Senate here in the U.S., and the pending signature by President Trump, it looks like the USMCA will become the law of the land very soon. But what does this mean?

Continue reading → Leave a comment

Monthly Market Risk Update: January 2020

January 15, 2020

My colleague Sam Millette, senior investment research analyst on Commonwealth’s Investment Management and Research team, has helped me put together this month’s Market Risk Update. Thanks for the assist, Sam!

Continue reading → Leave a comment

Economic Risk Factor Update: January 2020

January 14, 2020

My colleague Sam Millette, senior investment research analyst on Commonwealth’s Investment Management and Research team, has helped me put together this month’s Economic Risk Factor Update. Thanks for the assist, Sam!

Continue reading → Leave a comment

Inflation Versus Wage Growth

January 9, 2020

Last week, a reader had an interesting question in response to the Homer Simpson economic video. He wondered, given the number of jobs that Homer Simpson has had and how compensation has changed over time, is there a good analysis of income versus inflation? I didn’t know of any such analysis, so I decided to come up with one. Since much of the analysis around this question is less than clear (to be frank), I also decided to use it as a primer on how to read through economic statistics. As always, caveat emptor!

Continue reading → Leave a comment

Looking Back at the Markets in December and Ahead to January 2020

January 8, 2020

As I do every month, it’s time to take a look back at what happened in the previous one and what it could mean going forward. With the start of a new year, we have a lot to cover.

Continue reading → Leave a comment

Subscribe via E-mail

New call-to-action
Crash-Test Investing
Commonwealth Independent Advisor

Hot Topics

Have a Question?

New Call-to-action



see all



The information on this website is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.

Certain sections of this commentary contain forward-looking statements that are based on our reasonable expectations, estimates, projections, and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Past performance is not indicative of future results. Diversification does not assure a profit or protect against loss in declining markets.

The S&P 500 Index is a broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks. All indices are unmanaged and investors cannot invest directly into an index.

The MSCI EAFE Index (Europe, Australasia, Far East) is a free float‐adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The MSCI EAFE Index consists of 21 developed market country indices.  

Third party links are provided to you as a courtesy. We make no representation as to the completeness or accuracy of information provided at these websites. Information on such sites, including third party links contained within, should not be construed as an endorsement or adoption by Commonwealth of any kind. You should consult with a financial advisor regarding your specific situation.


Please review our Terms of Use

Commonwealth Financial Network®