Trap KlomanCommonwealth Financial Network’s chief financial officer will become president and chief operating officer at the end of this year.

CFO Trap Kloman will replace Rich Hunter, who will remain a managing partner but will focus on writing, special projects and mentoring. Hunter has worked for 30 years at Commonwealth, a privately held independent broker-dealer and registered investment advisor. Based in Waltham, Mass., and San Diego, Calif., Commonwealth was founded in 1979 and today supports approximately 1,800 independent financial advisors nationwide.

“I’ve been privileged to help steer Commonwealth through nearly three decades of success alongside my fellow managing partners who are also my friends,” Hunter said in a statement. “I’m looking forward to what I call my ‘next phase,’ during which I’ll step away from day-to-day management of Commonwealth’s operations and contribute in other ways I’m equally passionate about. What really makes this possible is the full confidence the entire executive management team has in my successor, Trap Kloman.”

Kloman, a managing principal, has been CFO since April 2015. According to his LinkedIn profile, he joined Commonwealth from LPL Financial, where he held several roles over his 10-year tenure there, including senior vice president of investor relations, vice president of corporate finance and vice president of corporate development. He graduated with a bachelor of arts degree from the University of Virginia in 1997.

“In just three years, Trap has made enormous contributions to both Commonwealth and our advisors, instituting innovative operational efficiencies and helping to ensure that resources are available to support the continued growth of our advisors’ businesses,” said Commonwealth CEO Wayne Bloom.