CD Wealth Management Featured Nationally for Leadership in Succession and Second-Generation Transitions
DALLAS (July 31, 2025) — With generational change reshaping the wealth management industry, CD Wealth Management is being recognized as a leader in navigating the complexities of succession and next-gen transitions.
Recent articles in national outlets — including PLANADVISER, Family Wealth Report, WealthManagement.com and The Daily Upside — have highlighted CD Wealth’s thoughtful approach to succession planning. The firm’s leadership transition earlier this year, in which Founder Scott Cohen moved into the role of Executive Chairman and Ilona Friedman succeeded him as CEO, reflects the type of planning that insightful new research from Kestra Financial shows is largely missing across the industry.
“There’s no such thing as planning too early,” Cohen said. “When everyone’s aligned and clear about their roles, transitions become an opportunity — not a disruption.”
Cohen and Friedman attended a media roundtable in New York to discuss their successful transition, joining leaders from Kestra, whose research shows a growing disconnect between firm owners and successors who are eager for more influence.
CD Wealth’s succession strategy — which emphasizes early mentorship, shared vision and role clarity — is an exception to that trend. Because CD Wealth’s leadership team is intentional and proactive, Friedman said, Cohen included her in strategic decisions for years leading up to her promotion.
“If you wait until you’re ready to exit, it’s already too late,” she said.
Cohen addressed the rising trend of next-gen advisors breaking away from legacy firms to build something of their own: “Most of the time, they’re not unhappy with the work — they’re just looking for a bigger voice in the direction of the firm,” he said.
Collectively, the recent coverage highlights the firm’s belief that succession is not a transaction, it’s a transformation. CD Wealth’s multi-year planning approach, its emphasis on cultural alignment and its transparency stand in contrast to the industry’s more reactive norms.
As the broader RIA community reckons with these generational shifts, CD Wealth is proud to contribute to the conversation and lead by example. “We believe succession planning is one of the greatest acts of stewardship a leader can undertake,” Friedman said. “It’s not just about who comes next, but about ensuring clients, teams and values continue to thrive well into the future.”
Related coverage:
• WealthManagement.com: Why Gen 2 Advisors Are a Flight Risk
• The Daily Upside: When it Comes to Succession Planning, Start Early
• Family Wealth Report: New Study Reveals Big Divide Between Founders and G2
• PLANADVISER: Tackling Succession Misalignment in Advisory Firms
About CD Wealth Management
Founded in 2014 by Scott Cohen, CD Wealth Management offers personalized financial planning and wealth management for families, corporate executives, closely held businesses, and not-for-profit institutions. CD Wealth was acquired by Bluespring Wealth Partners, LLC in 2022.