Commonwealth recruits $1 billion team from Edward Jones

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.