Cetera Welcomes Severn Wealth Management: A New Era for Client-First Financial Services
In a significant development in the financial services sector, Cetera Financial Group is thrilled to announce the arrival of the Severn Wealth Management team, which previously operated under Commonwealth. Led by innovative Co-Founders Steven Roth, CLU®, and Wilson Phipps, alongside financial advisor Brian Phipps, the new team brings with them an impressive portfolio, managing approximately $160 million in assets under administration (AUA).
Founded in 1988, the Severn Wealth Management firm has built a strong reputation in Annapolis, Maryland, fostering relationships that span generations. Their philosophy is rooted in the idea that clients are not just customers, but integral members of an extended family. Every financial decision is made with the clients' long-term wellbeing as the ultimate priority, demonstrating a commitment to personalized financial service that is truly commendable.
The team at Severn Wealth Management has emphasized the importance of genuine relationships in their practice. Central to this approach is Maggie Phipps, Client Services Coordinator, who plays a pivotal role in ensuring positive and enduring client experiences. Her operational expertise and hands-on relationship management are hailed by her colleagues, contributing significantly to the firm's continued success.
The move to Cetera stems from a strategic evaluation prompted by the recent acquisition of Commonwealth by LPL. After considering all possible partnerships, the Severn Team concluded that joining Cetera’s Summit Financial Networks community best matched their vision for the future. Steven Roth commented on this transition, stating, "We now have the kinds of relationships we've been wanting; moving to Cetera has been a real awakening for all of us, and a very welcome one."
Cetera's culture of service and leadership access, along with its strong partnership-driven ethos, resonated deeply with the Severn Wealth Team's previous experiences at Commonwealth. Brian Phipps articulated this sentiment by saying, "It's not just a move to a new broker-dealer; it's establishing a long-term relationship with a partner that's going to help us grow and build our firm and our brand."
This transition coincides with Severn Wealth Management's rebranding efforts and the opening of a new office location, marking a significant chapter in their growth strategy. The Cetera platform offers extensive resources aimed at bolstering client relationships while also enhancing the firm's service capabilities. This aligns seamlessly with Severn Wealth Management's commitment to a family-like atmosphere that prioritizes client needs.
A focal point of their team dynamic is the connection between Wilson and Brian Phipps, who are father and son. Brian’s unique background as a former professional lacrosse player and educator has significantly shaped his philosophy on teamwork and communication. Wilson Phipps has stated the importance of the entire team while acknowledging Maggie Phipps' contributions, underscoring their collaborative approach to wealth management. "In wealth management, it's easy to focus on the financial advisors, but with us, we often say Maggie is more critical than we are because our clients love her," Wilson remarked.
As Cetera Advisor Channel Leader Tom Halloran noted, the Severn Wealth Management team has discovered a client service formula that is noteworthy. He praised their approach to wealth management as family-oriented and collaborative, stating, "The depth of those relationships and the consistency of their client-first approach is exactly what Summit is built for. We’re proud to be the platform that supports their next chapter, and we're committed to proving it every day."
Cetera, as a leader in wealth management solutions for independent financial advisors, is dedicated to offering personalized support, flexible business models, and growth solutions. With about 12,000 financial professionals and institutions within its ecosystem, Cetera provides the necessary tools for firms to thrive in a competitive landscape while maintaining a client-centered focus.
As the Severn Wealth Management team embarks on this exciting new partnership with Cetera, clients can anticipate enhanced services and growth opportunities, underscoring the firm's commitment to a people-first ethos in wealth management. This collaboration is not just a strategic alignment but a unique convergence of values aimed at fostering lasting financial success for everyone involved.
Founded in 1988, the Severn Wealth Management firm has built a strong reputation in Annapolis, Maryland, fostering relationships that span generations. Their philosophy is rooted in the idea that clients are not just customers, but integral members of an extended family. Every financial decision is made with the clients' long-term wellbeing as the ultimate priority, demonstrating a commitment to personalized financial service that is truly commendable.
The team at Severn Wealth Management has emphasized the importance of genuine relationships in their practice. Central to this approach is Maggie Phipps, Client Services Coordinator, who plays a pivotal role in ensuring positive and enduring client experiences. Her operational expertise and hands-on relationship management are hailed by her colleagues, contributing significantly to the firm's continued success.
The move to Cetera stems from a strategic evaluation prompted by the recent acquisition of Commonwealth by LPL. After considering all possible partnerships, the Severn Team concluded that joining Cetera’s Summit Financial Networks community best matched their vision for the future. Steven Roth commented on this transition, stating, "We now have the kinds of relationships we've been wanting; moving to Cetera has been a real awakening for all of us, and a very welcome one."
Cetera's culture of service and leadership access, along with its strong partnership-driven ethos, resonated deeply with the Severn Wealth Team's previous experiences at Commonwealth. Brian Phipps articulated this sentiment by saying, "It's not just a move to a new broker-dealer; it's establishing a long-term relationship with a partner that's going to help us grow and build our firm and our brand."
This transition coincides with Severn Wealth Management's rebranding efforts and the opening of a new office location, marking a significant chapter in their growth strategy. The Cetera platform offers extensive resources aimed at bolstering client relationships while also enhancing the firm's service capabilities. This aligns seamlessly with Severn Wealth Management's commitment to a family-like atmosphere that prioritizes client needs.
A focal point of their team dynamic is the connection between Wilson and Brian Phipps, who are father and son. Brian’s unique background as a former professional lacrosse player and educator has significantly shaped his philosophy on teamwork and communication. Wilson Phipps has stated the importance of the entire team while acknowledging Maggie Phipps' contributions, underscoring their collaborative approach to wealth management. "In wealth management, it's easy to focus on the financial advisors, but with us, we often say Maggie is more critical than we are because our clients love her," Wilson remarked.
As Cetera Advisor Channel Leader Tom Halloran noted, the Severn Wealth Management team has discovered a client service formula that is noteworthy. He praised their approach to wealth management as family-oriented and collaborative, stating, "The depth of those relationships and the consistency of their client-first approach is exactly what Summit is built for. We’re proud to be the platform that supports their next chapter, and we're committed to proving it every day."
Cetera, as a leader in wealth management solutions for independent financial advisors, is dedicated to offering personalized support, flexible business models, and growth solutions. With about 12,000 financial professionals and institutions within its ecosystem, Cetera provides the necessary tools for firms to thrive in a competitive landscape while maintaining a client-centered focus.
As the Severn Wealth Management team embarks on this exciting new partnership with Cetera, clients can anticipate enhanced services and growth opportunities, underscoring the firm's commitment to a people-first ethos in wealth management. This collaboration is not just a strategic alignment but a unique convergence of values aimed at fostering lasting financial success for everyone involved.
Topics Financial Services & Investing）
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