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Commonwealth Financial Network says it has added an advisor team in Cedar Rapids, Iowa, which works with about $1.4 billion in client assets and specializes in corporate retirement plans, planning for clients near or in retirement and individual wealth management.

The Strategic Financial Solutions team, which left Principal Securities to join hybrid RIA Commonwealth, includes advisors Larry Witzel, Bert McClintock and Brian Brandt (all three of whom are certified financial planners), Jeff Haugse, Jordan Kuehner, Steven Bragg and David Spanier, along with their support staff.

Principal Securities didn’t immediately respond to a request for comment on Thursday about losing the advisor team.

The announcement came less than a week after Commonwealth said it picked up Censia Wealth Advisors ($165 million in assets) in Santa Rosa, California, from Securities America, where the team was known as The Hart Group.

Strategic went into business 30 years ago and focuses on corporate offerings, which Commonwealth said were “developed around a highly structured consultative model and a deep dedication to client education.”

Explaining why the team decided to move to Commonwealth, Witzel said in a statement: “Feel, fit, financials, and future direction are core components of our decision-making process. Commonwealth’s service-oriented culture feels in sync with ours.”

He added: “The breadth and depth of resources, from the technology enhancements and interface to the Commonwealth team being readily available to answer our questions, make this a good partnership. Together, this will enable us to unleash even greater productivity and efficiency as we look to the future.”

“For the whole team, it’s all about connectivity with Commonwealth. We have the infrastructure in place — so if we can operate smarter and faster to deliver better outcomes for our clients, that’s a big win,” Witzel explained.

Commonwealth, which has headquarters in Waltham, Massachusetts, and San Diego, California, now works with some 2,000-plus independent financial advisors across the U.S., it said.

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