Commonwealth Financial Network has snagged a $1 billion team from Edward Jones. Commonwealth announced Tuesday that Temple, Texas-based Cedarwood Financial Partners made the move.
“Cedarwood has a clear vision for deliberate, purposeful growth that we share and a conscious commitment to fostering culture and connectedness that we’re very much in sync with, too,” said Commonwealth managing principal Becca Hajjar in a statement.
“We’re delighted to support their evolution and look forward to helping them shine in the independent space,” Hajjar added.
The Cedarwood team includes managing partners and advisors Dylan Ripley and Todd Vincent. The firm, which has three offices in Texas and two in western New York state, provides advanced financial planning services to individuals and businesses, and focuses on retirement income and planning strategies, executive benefits and 401(k) plans, and managing the intricacies of trusts, estate transfers, and other complex situations.
“We knew we wanted to own our own business,” Ripley said. “Once we saw that we could have the freedom and the exceptional back-office support in one, we couldn’t unsee it.”
Commonwealth partners with more than 2,000 independent financial advisors overseeing more than $272.9 billion in assets nationwide.
It's the mega-RIA firm's third $1B+ acquisition in just three months.
Wall Street leaders propose ways to monetize the mortgage giants.
Changes in legislation or additional laws historically have created opportunities for the alternative investment marketplace to expand.
A Texas-based bank selects Raymond James for a $605 million program, while an OSJ with Osaic lures a storied institution in Ohio from LPL.
The Treasury Secretary's suggestion that Trump Savings Accounts could be used as a "backdoor" drew sharp criticisms from AARP and Democratic lawmakers.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
