Family-centered Annapolis practice with a decades-long legacy begins its next chapter of growth within Summit Financial Networks at Cetera

SAN DIEGO, Aug. 26, 2026 /PRNewswire/ — Cetera welcomes the Severn Wealth Management team from Commonwealth, led by Co-Founders Steven Roth, CLU^®, and Wilson Phipps, along with financial advisor Brian Phipps. The team, which oversees approximately $160 million in AUA¹, joins Cetera through its unique Summit Financial Networks² community.

The firm and its financial advisors are supported by Maggie Phipps, Client Services Coordinator, who the firm’s co-founders praise for her hands-on client relationship management and operational expertise, both of which are central to the practice’s day-to-day success.

Severn Wealth Management has been building lasting client relationships since 1988. The firm takes its name from the iconic Severn River that winds through Annapolis and past the grounds of the U.S. Naval Academy. The firm’s philosophy is straightforward: clients are not just customers, they are members of an extended family, and every financial decision is made with their long-term well-being in mind.

Like many former Commonwealth teams, Severn Wealth Management was prompted to re-evaluate its affiliation when LPL announced it would acquire Commonwealth. After evaluating a wide range of options, Severn Wealth Management decided Cetera and its Summit Financial Networks community were the right fit.

“We now have the kinds of relationships we’ve been wanting,” said Steven Roth. “Frankly, moving to Cetera has been a real awakening for all of us, and a very welcome one.”

Summit and Cetera’s culture of service and access to leadership reflected the kind of partnership-driven environment the team had valued at Commonwealth and was determined to find again.

“We’re surrounded by people at Cetera who are just fantastic. 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,” said Brian Phipps. “From the beginning, the people we met at Summit exceeded our expectations, and honestly, the sense of partnership we’ve already felt with Cetera is what we’ve wanted for quite some time.”

Moving to Cetera coincides with the team’s recent rebranding as Severn Wealth Management and its relocation to a new office. Backed by Cetera’s growth resources, the team is focused on deepening client relationships and expanding the firm’s capabilities.

Severn Wealth Management sees itself as a family business team in the truest sense. Wilson and Brian Phipps are father and son. Maggie Phipps is Brian’s sister-in-law, married to Wilson’s son Michael, who coached the University of Maryland men’s lacrosse team. Roth and Wilson Phipps have worked together as partners for nearly four decades, while Brian joined the firm four years ago, bringing a background as a former professional lacrosse player, high school teacher and head coach, experiences that reinforced the importance of teamwork, communication, and putting others first.

Speaking about the importance of Severn’s team approach, Wilson Phipps highlighted Maggie Phipps, saying: “In wealth management firms it’s easy to focus on the financial advisors, but when it comes to Severn and our clients, we often say Maggie is more critical than we are because our clients just love her – she has the most contact with clients as they go through the things that matter most to them. We needed her on board completely with our decision to move to Cetera, and she was.”

Welcoming the Severn Wealth Management team, Cetera Advisor Channel Leader Tom Halloran said, “Steven, Wilson, Brian, and Maggie have found a client service formula that is simply amazing, and they approach wealth management as a family, hand-in-hand with their clients. 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.”

About Cetera
Cetera is the premier financial advisor Wealth Hub, empowering independent advisors and institutions with personalized support, flexible affiliation models, and end-to-end growth solutions. Home to approximately 12,000 financial professionals and institutions, Cetera’s multi-channel ecosystem enables financial professionals to grow, scale or transition their businesses on their own terms.

Unlike traditional IBDs, Cetera offers true choice – blending modern technology, integrated wealth solutions, and a community-driven culture. Cetera’s five-channel model and commitment to long-term advisor value provide a scalable blueprint for consistent, repeatable growth.

As of June 30, 2026, Cetera firms manage approximately $688 billion in assets under administration and $330 billion in assets under management. Its Voice of the Customer program has captured more than 50,000 advisor reviews, and over 45,000 five-star ratings, giving Cetera a 4.7 out of 5 satisfaction score.

Learn more at www.cetera.com and follow Cetera on LinkedIn, Instagram, Facebook, YouTube, and X.

Cetera is a network of independent retail firms, including those that are members of FINRA/SIPC: Cetera Advisors LLC; Cetera Wealth Services, LLC (formerly known as Cetera Advisor Networks); Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors); and Cetera Financial Specialists LLC. Entities registered as investment advisers with the Securities and Exchange Commission include Cetera Investment Management LLC and Cetera Investment Advisers LLC. Cetera’s principal office is located at 655 W. Broadway, 11th Floor, San Diego, CA 92101.

Avantax Planning Partners, Inc., is an SEC registered investment adviser within the Aretec Group, Inc. (dba Cetera Holdings, an affiliate of CFG). All the referenced entities are under common ownership.

Cetera exclusively provides investment products and services through its representatives. Although Cetera does not provide tax or legal advice, or supervise tax, accounting or legal services, Cetera representatives may offer these services through their independent outside businesses. This information is not intended as tax or legal advice.

¹Value approximated based on information provided to Cetera for asset holdings as of July 20, 2026.

²Summit Financial Networks is a region of Cetera Wealth Services, LLC. Securities offered through Cetera Wealth Services, LLC, member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC, a registered investment adviser. Cetera is under separate ownership from any other named entity.

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SOURCE Cetera Financial Group