$608M Commonwealth Team Joins Cetera

WealthManagement··Read original
2▲0 ▼1Impact / 5
Summary · why it matters

A Commonwealth Financial Network team managing about $608 million in client assets has joined Cetera. Led by Edward Duffy, the Braintree, Massachusetts-based Lexington Financial includes advisors John Walsh and William Creesy. Duffy said the decision was driven by Commonwealth's acquisition, after 32 years with the firm. The team chose Cetera after six months of due diligence, partly for uninterrupted custody access through Fidelity Investments' National Financial Services.

Impact on assets 1

Digital Finance & Tokenization▼ · 1 stocks
LPL Financial Holdings Inc
LPLA
▼ NegativeCompetitionrelevance

Cetera gains a $608M team from Commonwealth, potentially at LPL's expense as a competitor for advisor teams.

Off-coverage companies 4

CeteraPrivate▲ Positive
Capitalrelevance

Cetera recruits a $608M team, expanding its assets under administration.

Fidelity InvestmentsPrivate± Mixed
relevance

Lexington FinancialPrivate± Mixed
relevance

National Financial ServicesPrivate± Mixed
relevance

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