Commonwealth Financial Network says President and COO Rich Hunter will leave the firm at year-end, when CFO Trap Kloman will take on his roles.
Hunter has been with the RIA for about 30 years and will remain one of its 13 managing partners. Kloman joined Commonwealth in 2015 after working at LPL Financial for 10 years, according to his LinkedIn profile.
“We on the executive management team are so grateful for the years we’ve spent working with Rich — and excited to know we can continue to benefit from his ongoing guidance in his new role of president emeritus,” CEO Wayne Bloom said in a statement. “His continued involvement, along with his passing the reins to Trap, is a win-win for Commonwealth and our advisors.”
The firm, which was founded in 1979, supports about 1,800 independent financial advisors nationwide.
“In just three years, Trap has made enormous contributions to both Commonwealth and our advisors, instituting innovative operational efficiencies and helping to ensure that resources are available to support the continued growth of our advisors’ businesses,” added Bloom.
As for Hunter, he said he is looking forward to what he calls his “next phase” for stepping away from day-to-day managerial operations of the firm and contributing “in other ways I’m equally passionate about.”
— Check out Commonwealth Scores a Workplace Accolade on ThinkAdvisor.