Registered investment adviser Commonwealth Financial Network added Schneider Wealth Strategies to its network of independent advisers. Formerly with Cambridge Investment Research, founder David A. Schneider, CFP, reported advising on more than $320 million in client assets as of Sept. 11, 2024.
From Manhattan, Schneider’s team conducts financial planning and manages assets for business owners, professionals, and high-net-worth retirees in the tristate region and across the nation.
“David Schneider sought a long-term partner he could count on and true access to senior leadership to help him further develop his business, and we’re thrilled to welcome him and his team to Commonwealth,” said Becca Hajjar, managing principal and chief business development officer. “Like many in our community, David emphasizes simplicity, both in the client experience he offers and in his vision for operating his practice.”
The New York team is rounded out by Wanda Mercado, client service manager. With experience both in financial services and as a legal assistant, Mercado is responsible for managing client communications, opening accounts, expediting account transfers, and facilitating day-to-day office operations.
“When I was considering partner firms, I looked closely at solutions for day-to-day management of client investments,” said Schneider. “Commonwealth is best of breed in efficiency, and its technology will help me propel my practice to the next level and give my clients a streamlined digital experience.”
In selecting Commonwealth, Schneider also focused on robust model portfolio solutions and a culture with a personal feel. “There doesn’t seem to be a lot of layers, and I don’t get a big bureaucracy feeling from Commonwealth,” he said. “I’ve been independent for more than 30 years, so it was important to me to choose a firm with a reputation for truly honoring independence.”
Headquartered in Waltham, Mass., and San Diego, Calif., Commonwealth partners with approximately 2,345 independent financial advisers overseeing more than $344 billion, as of Dec. 31, 2024.
At the end of last year, Commonwealth welcomed a pair of Jericho, N.Y.-based independent advisory firms that were previously affiliated with Securities America, now Osaic, and collectively reported more than $495 million in client assets: Full Spectrum Financial Solutions and NXT Phase Financial Services.
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