Merit Financial adds former Commonwealth advisor overseeing $888M. Veteran advisor Tim Brennan has split from his former Commonwealth advisory to join Merit, bringing $888M in assets and expansion plans for Illinois. Alex Ortolani, Senior Reporter, Wealth Management September 18, 2026 Merit Financial Advisors, an Atlanta-based registered investment advisor with $30.1 billion in assets, has brought on financial advisor Tim Brennan and his team, marking the firm's 11th partnership in 2026 and its 62nd acquisition to date. Brennan's practice oversees about $888 million in client assets and works with over 1,000 households from its base in Deerfield, Ill., where Merit said it will remain. The advisor spent nearly 27 years with the Commonwealth Financial Network firm Pinnacle Financial Group, which he co-founded, according to filings. That firm will continue on with co-founder Jim Santos. "After 37 years in this business, I still love what I do, and I still want to grow," Brennan said. "What attracted me to Merit was the opportunity to be part of a firm that is building something and continuing to evolve." The acquisition expands Merit's presence in the Chicago market, where the firm had established an office last year through its acquisition of Blueprint Wealth Advisors. David Wahlen, executive vice president/strategic partners at Merit Financial Advisors, said Brennan spoke to the Blueprint team during his decision-making process, which has been common among the multiple Commonwealth teams that have joined Merit since LPL Financial acquired the independent broker/dealer last year. "We offer a focus on culture, on collaboration, on healthy competition," he said. "It's a tight-knit family with a family that is attractive." For Merit's part, Wahlen said Merit has been working to grow in the Chicago market, and the addition of Brennan's team in the northern part of the city is a great match for that expansion. "Tim is exactly the type of advisor and leader we want to partner with as we continue building our presence in Chicago," Wahlen said. "He has an exceptional track record of serving clients, developing talent and growing his business almost entirely through referrals." He also noted that Brennan, who will get equity in Merit through the transaction, has two second-generation advisors who can now grow their careers at Merit. "Tim wants to spend more time developing his team and less time running a business," Wahlen said. Brennan also joins with a $57 million Wisconsin advisory practice that will continue to operate an office in the Fond du Lac/Oshkosh region, where he has maintained a presence for over 15 years. Merit has been competitive in drawing Commonwealth advisors in a pool of recruiters that includes other large independent broker/dealers such as Cetera, Kestra Holdings and Osaic. In August, the RIA lured a former Commonwealth team in Southern California overseeing about $900 million in client assets. The deal for Brennan pushes the assets it has brought over from Commonwealth advisors to over $5.7 billion across nine moves, according to Wahlen. LPL Financial, which acquired Commonwealth last year, is expected to transition all of the Commonwealth client assets to its platforms this November. Senior Reporter, Wealth Management Alex Ortolani is a New York-based senior reporter with Wealth Management with a focus on deals, moves and trends in the registered investment advisor space. In addition to financial and business reporting, he has worked in media relations and corporate communications for tech firms and Fortune 500 companies.

People moves: RBC Clearing & Custody hires former Pershing executive for business development. Also, Kestra Financial hires client service and operations leads; alt-focused Quincy Wells names a CIO; and Toronto-based Verecan Capital adds a CFO as it pushes further into the United States. Alex Ortolani, Senior Reporter, Wealth Management August 4, 2026 RBC Clearing & Custody, which offers clearing, custody and execution services to independent broker/dealers and registered investment advisors, has hired Larry Agin as business development manager. Agin joins RBC after a two-year stint at Apex Fintech Solutions, a firm he joined after more than two decades at BNY Pershing. He has experience in wealth solutions, securities operations, trading and client relationship management, according to RBC's announcement. "When I began the process of hiring a new business development manager, I never could have imagined a better fit than Larry," Kelly Johnson, chief revenue officer of RBC Clearing & Custody, said in a statement. "He shares the values of our organization, understands what truly matters to our clients and wants to make a real difference for the businesses that choose to partner with us." Agin will be tasked with further growing RBC's clearing and custody business for the IBD and RIA sectors, even as upstarts such as Apex and Altruist seek to undercut the legacy providers. "Joining RBC Clearing & Custody provides a meaningful opportunity to contribute my experience to a market leader with scale, extensive resources, a strong commitment to the clearing and custody business, and a team that focuses on innovation," Agin said in a statement. Kestra Financial adds Fidelity National, Truist alumni to leadership team. Kestra Financial, a hybrid RIA based in Austin, Texas, announced this week that it had hired Kristan Garner as head of client service and John Milligan as head of operations. Garner joins from financial technology firm Fidelity National Information Services, where she served as director of operations. She will now lead Kestra's client service organization, including advisor service, technology solutions and account services. Milligan joins from Truist Bank, where he served as executive vice president, head of capital markets operations. At Kestra, he will oversee trading, cashiering, producer compensation and fee billing. "Kristan and John bring deep expertise in client service and operations, and their leadership will help us continue raising the bar for efficiency and operational excellence across the advisor experience," said Angela Xavier, executive vice president, client experience officer at Kestra, in a statement. Kestra said the hires build on investment in operations and client experience, including Xavier's hire as client experience officer last year from LPL Financial, and the establishment of a secondary headquarters in Tempe, Ariz. In April, Kestra hired four business development leaders from competitors, including LPL and Commonwealth Financial Network, to its national recruiting team. Quincy Wells Advisors names Matt DenBleyker CIO. Quincy Wells Group, a Chicago-based wealth management platform focused on alternatives, named Matt DenBleyker chief investment officer of Quincy Wells Advisors this week. DenBleyker joins from Lee Financial, where he served as director of private markets. At Quincy, he will lead the development of investment solutions, oversee multi-asset-class portfolio construction, and contribute to business development initiatives. "Matt has spent his career building institutional investment programs and translating them into something advisors can actually put in front of clients," said John Neppel, managing partner of Quincy Wells Group, in a statement. "That is exactly the capability our advisors need as demand for alternatives keeps growing." DenBleyker brings more than two decades of investment management experience across RIAs, investment consulting firms and public pension plans. Prior to Lee Financial, he was managing director and co-chief investment officer at Commerce Street, where he built the firm's outsourced discretionary investment platform. Verecan Capital Management appoints Jim Andrews as CFO. Verecan Capital Management, a discretionary portfolio management firm based in Toronto with U.S. clientele, said it had appointed Jim Andrews as chief financial officer, effective July 20. Andrews joins from CWB Wealth, where he was president and CEO. He is tasked with leading Verecan's growth strategy, including acquisitions, advisor relationships, strategic partnerships and opportunities with independent firms. "We are fortunate to have Jim join Verecan at this stage in our growth. He understands this industry and sees the opportunity in what we are building," Verecan Group of Companies CEO Colin White said in a statement. The appointment follows Verecan's recent addition of Emily Dunn as chief operating officer, further strengthening the senior leadership team as the firm expands beyond Canada, according to the announcement. Verecan launched in 2023 and expanded in 2025 to provide services to U.S.-based clients and clients with cross-border financial concerns. Senior Reporter, Wealth Management Alex Ortolani is a New York-based senior reporter with Wealth Management with a focus on deals, moves and trends in the registered investment advisor space. In addition to financial and business reporting, he has worked in media relations and corporate communications for tech firms and Fortune 500 companies.

A system built for advisor success: commonwealth secures 13th consecutive #1 ranking from JD Power for Independent Advisor Satisfaction. This latest recognition reflects a model meticulously designed around advisor experience - one that has proven consistent over time while continuing to evolve alongside advisors' needs. Waltham, MA (July 9, 2026) - Commonwealth Financial Network(R), a national RIA dedicated to providing financial advisors with holistic, integrated business solutions, ranks "#1 in Independent Advisor Satisfaction Among Financial Investment Firms 13 Times in a Row" according to the JD Power 2026 U.S. Financial Advisor Satisfaction Study(SM). In addition to its #1 ranking, Commonwealth achieved the highest score in six of the seven reported key drivers of advisor satisfaction - compensation, firm leadership and culture, professional development support, product and marketing support, and operational support. With partner firm LPL Financial ranking second in overall satisfaction among independent advisors, the results reflect more than parallel success. They demonstrate a shared philosophy and purpose, highlighting the strength of its aligned, advisor-first approach within the industry. In reflecting on the commitment required to repeatedly achieve this recognition, Wayne Bloom, CEO of Commonwealth, said, "It's always good business to do right by those we serve. As we celebrate our 13th consecutive #1 ranking, we recognize that our success must be earned every day. Thank you to our Advisors for trusting us with your feedback and driving our continuous improvement. Commonwealth's standards are calibrated to your expectations." He continued, "LPL's ascension to the second-place ranking validates our decision to select them as our partner for the future! Our collective focus on independent Advisor experience now combines the 1[st-] and 2nd -ranked firms with the vast scale and resources of LPL, creating an unmatched service experience to drive our affiliated Advisors' and their investors' success!" "Our brand of personalized service is only possible because we know our Advisors and their businesses deeply, and we foster a mindset of proactive support and intentional relationship stewardship across our home office. The Commonwealth difference is that our people take Advisor success personally; the close relationships they've built over time make delivering their very best not only a responsibility, but a privilege," Bloom explained. "At Commonwealth, Advisor satisfaction isn't an outcome - it's our purpose," Bloom added. "Our model is built on Advisor voices and thoughtful innovations to support evolving needs. That intentionality is what creates consistency and trust, and it's why Advisors can count on Commonwealth to deliver on its best-in-class service commitment." LPL Financial Holdings Inc. (Nasdaq: LPLA) acquired Commonwealth Financial Network in August 2025. Commonwealth will operate as a wholly owned portfolio company through the onboarding of Commonwealth advisors to LPL's platform, which is expected to be completed in the fourth quarter of 2026. About Commonwealth Financial Network(R). Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides financial advisors with holistic, integrated solutions that support business evolution, growth acceleration, and operational efficiency. JD Power ranks Commonwealth "#1 in Independent Advisor Satisfaction Among Financial Investment Firms, 13 Times in a Row."[1] Founded in 1979, the firm has headquarters in Waltham, Massachusetts, and San Diego, California, and an operations hub in Blue Ash, Ohio. Learn more about how Commonwealth partners with independent financial advisors nationwide by visiting commonwealth.com. [1] Commonwealth received the highest score among independent advisors in the JD Power 2010, 2012-2014, and 2018-2026 U.S. Financial Advisor Satisfaction Studies. Presented on July 9, 2026, for December 2025 to April 2026, it is based on responses from 4,503 advisors employed by or affiliated with the firms included in the study. Not indicative of the firm's future performance. Your experience may vary. The study is independently conducted, and the participating firms do not pay to participate. Use of study results in promotional materials is subject to a license fee. Visit jdpower.com/awards for more details. Hi, I'm Jacquelyn, senior director of corporate marketing at Commonwealth. Did something here pique your interest? I'd love to tell you more. 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