Deals & Moves: $608M Commonwealth Team Chooses Cetera

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Cetera has brought successful different Commonwealth Financial Network team, led by Edward Duffy and his Lexington Financial, which manages astir $608 cardinal successful lawsuit assets.

The Braintree, Mass.-based steadfast besides includes advisors John Walsh and William Creesy, arsenic good arsenic enactment staff.

"Leaving Commonwealth wasn't thing we took lightly aft 32 years," Duffy said successful a statement. "We wouldn't person made a alteration if Commonwealth hadn't been acquired, but that efficaciously made the determination for us."

Duffy and his chap advisors had been with Commonwealth for 32 years, according to BrokerCheck.

According to the announcement, the squad conducted 6 months of owed diligence and chose Cetera partially due to the fact that it provided uninterrupted entree to custody with Fidelity Investments' National Financial Services.

Cetera Wealth Management President Todd Mackay has been courting Commonwealth advisors since the autarkic broker/dealer was acquired by LPL Financial past year.

$750M Potomac Joins Concurrent's RIA Platform

Concurrent Investment Advisors, a Tampa-based hybrid registered concern advisor, has made a number concern successful Potomac Financial Group, an Ashton, Md.-based steadfast that has near Raymond James to articulation Concurrent's RIA platform.

Led by Managing Partner Todd Wike, Potomac Financial has been operating for much than 40 years and oversees much than $750 cardinal successful lawsuit assets.

Wike is joined by advisors Lanta Evans, Kevin Pinto, Deborah Kelly, Brian Krawiec, Bradley Schell and Gregory Wilkinson, on with their enactment staff.

The Potomac squad evaluated aggregate paths to independency earlier selecting Concurrent to entree an expanded exertion stack, institutional-grade operational enactment and signifier absorption resources that heighten the lawsuit experience, according to the announcement.

"The champion mode we tin service our clients is by maximizing the clip we walk with them," Wike said successful a statement.

The steadfast volition custody with Fidelity.

AmeriFlex Group Recruits $1.7B successful Assets successful First Half

The AmeriFlex Group, an advisor-owned hybrid RIA with a number involvement from Cambridge Investment Research, has added 18 advisors representing much than $1.7 cardinal successful full lawsuit assets to the level successful the archetypal fractional of 2026, the Las Vegas-based steadfast announced.

With further advisors expected to articulation earlier year-end, the steadfast said it is connected gait to scope its antecedently stated yearly maturation extremity of $3 cardinal up of schedule.