Four advisors who generated $2.7 million in production with Ameriprise have left to join Commonwealth Financial Network, after a quarter in which Commonwealth — the No. 4 independent broker-dealer — says it added about $12.5 million in gross dealer concessions.

John Moose, David Palermo, Nathan Wegman and David Zambito of Endeavor Wealth Advisory Group oversee $282 million in assets under management, according to Commonwealth. The upstate New York-based practice had spent 20 years with Ameriprise before joining Commonwealth last month.

Commonwealth fee revenue

In the first quarter, Commonwealth added a team with $350 million in AUM from Northwestern Mutual and a team with $263 million in AUM from Invest Financial. The firm also grabbed a hybrid practice with $180 million in AUM from LPL Financial last week.

Commonwealth’s new production added through recruiting in the first quarter did not keep up with last year’s record pace, according to Andrew Daniels, Commonwealth’s managing principal for business development.

Daniels is not particularly concerned about the figure, though, since “the quality of the advisor is paramount for us and the quantity of assets is secondary,” Daniels says. He said he found Moose thoughtful with a good sense of humor while being “deadly focused on his clients,” he says.

“That was his foremost consideration. His value system was our value system and his value system was emblematic of the rest of that team,” Daniels says. “Almost on the very first phone call, I said, ‘This practice would be a very good fit here.’”

A spokeswoman for Ameriprise did not respond to a request for comment on Endeavor’s exit from the firm’s franchise channel.

The Rochester-based firm joined Commonwealth on April 20, according to FINRA BrokerCheck. Moose and Palermo each started their financial careers with Ameriprise, and both spent two decades or more at the firm. Zambito had worked for Ameriprise for 45 years after starting his career in 1972.

Wegman began his Ameriprise tenure more recently, coming to the firm in 2013. The practice also includes a paraplanner and two wealth advisor associates.

Ameriprise has “treated us well for years,” but Commonwealth’s team was “exemplary in every aspect,” Moose says.

“Their independence and the objectiveness of their approach was something that was very appealing to us all,” he adds.

Technology and a “greater sense of connectivity with their supporting BD/RIA infrastructure” also figured into the team’s discussions with Commonwealth, according to Daniels.

With nearly $1.1 billion in 2016 revenue, Commonwealth constitutes the largest privately-held firm in Financial Planning’s annual FP50 rankings. Revenue at the Boston-area firm expanded by 6% in 2016, even though total revenue at the top 50 firms dropped by 2.5% in an industry-wide slump that year.