Commonwealth Financial Network, an independent broker/dealer based in Waltham, Mass., has added Terramar Wealth, a Carlsbad, Calif.-based team with more than $300 million in client assets. Terramar was previously a supervisory jurisdiction office of SagePoint Financial, which is now Osaic, for 22 years. It will serve as a Commonwealth CSO.

Last year, Osaic announced her reappointment along with a plan for it roll the eight Advisor Group broker/dealers under one entity, including American Portfolios, FSC Securities, Infinex Investments, Royal Alliance Associates, SagePoint Financial, Securities America, Triad Advisors and Woodbury Financial Services. In May, Osaic finalized his purchase of Lincoln Financial's wealth business, which will also be consolidated into the larger entity.

The Terramar team includes advisors Mike Gallop, Danny McMahon, Steve Statzer, Steve Rubinstein, Greg Fox, Jeffrey Gardner and Todd Oberlin. They are joined by Pat Posada, director of compliance.

“Every interaction we've had with the Commonwealth Office team has been positive,” Gallop said in a statement. “It goes beyond leadership and recruiters. Having experienced and knowledgeable people on the other end of the phone, along with an attractive consultant to home office staff ratio, eliminates hassles and delays. This has a significant impact on efficiency in our day-to-day work in customer service.”

This follows news earlier this month that Commonwealth recruited Kin Wealth, a San Antonio, Texas-based firm with more than $250 million in client assets. The team was joined by Frost Bank.

Privately held Commonwealth currently has about 2,200 advisers overseeing more than $296 billion in assets.