Commonwealth Picks Up $1B Team From Edward Jones

 
 

Commonwealth Financial Network says it has recruited Cedarwood Financial Partners of Temple, Texas, from Edward Jones. The firm has about $1 billion of client assets, as well as three offices in Texas and two in New York.

Moving to Commonwealth are managing partners and advisors Dylan Ripley and Todd Vincent. They are joined by Angel Santiago, senior partner and director of technology, and financial planners Jeremy Self, vice president of marketing; Alex Murphy, COO; Frank Shultz, vice president of investment solutions; Tim Hall, director of investment models; Troy Vincent; and David Boothby, vice president of business development.

“We knew we wanted to own our own business. Once we saw that we could have the freedom and the exceptional back-office support in one, we couldn’t unsee it,” according to Ripley. “From access to more investment options and integrated technology to control over how we serve our clients and charge for those services, Commonwealth was the obvious choice.”

Commonwealth’s culture also held strong appeal, said Vincent: “From our first visit to Commonwealth’s home office, we experienced a family-like feel and witnessed servant leadership firsthand.”

The broker-dealer and RIA partners with more than 2,000 independent financial advisors who oversaw about $273 billion in assets as of 2021.

“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,” explained Becca Hajjar, managing principal and chief business development officer at Commonwealth, in a statement. “We’re delighted to support their evolution and look forward to helping them shine in the independent space.”