Commonwealth Hires Industry Executive as New General Counsel

Peggy Ho joins to protect and promote firm interests by leading corporate legal needs, serving our advisors, and partnering with the business to fulfill collective goals.

Waltham, MA (April 19, 2021)—Commonwealth Financial Network®, a national firm dedicated to providing advisor-focused business solutions, announces the hiring of Peggy Ho, senior vice president, general counsel. She will replace outgoing general counsel Jim Adelman, who is slated to retire after nearly 17 years with the firm. 

Ho will oversee all legal and regulatory aspects of the firm. Her role will include advising the executive management team on strategic initiatives and regulatory issues and providing counsel on all legal-related issues within the investment adviser and broker/dealer entities. She will report to Trap Kloman, Commonwealth's president and chief operating officer.

"I'm truly excited to be joining such a talented, enthusiastic community and am honored to take the reins and lead Commonwealth's Legal team," said Ho. "Our industry has changed so much in recent years from a regulatory perspective. Jim and his team have done a terrific job addressing these changes and have really put Commonwealth in a strong position for the future."

"We are thrilled to welcome Peggy to the Commonwealth community," said Kloman. "Peggy joins us with a wealth of experience that includes compliance, legal, risk management, and government advocacy. In the ever-evolving regulatory landscape in our industry, we will rely heavily on her knowledge and insights to move our firm forward."

Ho graduated from Harvard University, magna cum laude, and received her law degree and master's degree in international relations from Georgetown University. She began her career as a corporate associate at Ropes & Gray LLP and brings extensive industry experience, having served a variety of roles over the past 14 years with LPL Financial, most recently as executive vice president, chief of staff for compliance, legal, and risk and head of government relations. She is highly engaged in the industry, serving on the boards of the Insured Retirement Institute, The New England Council, Greater Boston Legal Services, and the Asian American Lawyers Association of Massachusetts. She is also engaged in her community, serving as secretary of Harvard University's Committee for the Choral Endowment and as a board member for the Wellesley Theatre Project. In 2019, Ho received the Massachusetts Lawyers Weekly Top Women in Law Award and was named a Get Konnected! 50 Most Influential Attorneys of Color.

"One of Jim's greatest qualities is that he was never afraid to roll up his sleeves," said Peter Wheeler, Commonwealth's vice chairman, of outgoing Adelman. "Whether it was building the Legal team into the powerhouse it is today, managing outside counsel, or delivering annual AML training to our advisors in uncommon ways, he gladly took on every challenge he faced with confidence, determination, and a high quality of care—always."

Wheeler added, "Jim undoubtedly made his mark on the Commonwealth community, and as he works to ensure a smooth transition in leadership to Peggy, we once again thank him for all of his contributions."

About Commonwealth Financial Network® 

Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides a suite of business solutions that empowers more than 2,000 independent financial advisors nationwide. J.D. Power ranks Commonwealth "#1 in Independent Advisor Satisfaction Among Financial Investment Firms, Seven Times in a Row." Privately held since 1979, the firm has headquarters in Waltham, Massachusetts, and San Diego, California. Learn more about Commonwealth by visiting www.commonwealth.com

Commonwealth received the highest score in the independent advisor segment of the J.D. Power 2010, 2012, 2013, 2014, 2018, 2019, and 2020 Financial Advisor Satisfaction Studies of customers’ satisfaction among financial advisors. Visit jdpower.com/awards.

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