Commonwealth Financial Network® Announces Management Changes
Waltham, MA (June 3, 2013)—Commonwealth Financial Network®, the nation’s largest privately held independent broker/dealer–RIA, is pleased to announce Managing Principal, Chief Financial Officer Rich Hunter has been appointed to President and Chief Operating Officer, effective immediately. Rich has played a critical role at Commonwealth for the past 25 years, overseeing all financial activity for the company. Additionally, Peter Wheeler will assume the title of Vice Chairman. These executive shifts will support the controlled, strategic growth of the firm.
“I cannot think of anyone more deserving of this role than Rich,” said Wayne Bloom, CEO of Commonwealth. “His advisor-centric approach to indispensable service, combined with his deep understanding of the independent advisory marketplace, makes him uniquely qualified for this role.”
Peter Wheeler, continuing his almost three-decade career at Commonwealth, will retain oversight of Legal and Compliance for the firm; he will also focus on long-term Executive Management responsibilities and strategic planning.
Wayne Bloom stated, “Peter has been a strong force in the growth and success of Commonwealth over the years, and I am extremely grateful that his new role will grant him the ability to continue to touch all areas of the business—and all members of the Commonwealth community. Peter has been, and will continue to be, an essential component to Commonwealth’s success.”
In May, Commonwealth also announced the newly created position of Senior Vice President, and the following seven stand-out managers were promoted to this ranking within their respective departments:
- John Bohs — Senior Vice President, Brokerage Operations
- Simon Heslop — Senior Vice President, Asset Management
- Jim Hommeyer — Senior Vice President, Strategic and Tax Planning
- Carly Maher — Senior Vice President, Sponsor Relations and Conferences
- Gavin Morrissey — Senior Vice President, Wealth Management
- E.J. Sutherland — Senior Vice President, Information Technology
- Paul Tolley — Senior Vice President, Compliance
Wayne Bloom concluded, “I congratulate each of these remarkable individuals on their achievements thus far, and I look forward to their continued development and impact within the company. This realignment is another step toward a stronger core and more successful future for our firm, and these changes will provide the structure to better position ourselves as a premier independent broker/dealer–RIA to financial advisors.”
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation’s largest privately held independent broker/dealer–RIA, with headquarters in Waltham, Massachusetts, and San Diego, California. J.D. Power and Associates ranks Commonwealth "Highest in Independent Advisor Satisfaction Among Financial Investment Firms, Three Times in a Row." The firm supports more than 1,450 independent advisors nationwide in serving their clients as registered representatives, investment adviser representatives, and registered investment advisers, as well as through hybrid service models. For more information, please visit www.commonwealth.com.