We owe our exceptional growth to strong roots, clear vision — and a commitment to superior service.
Somewhere along the way during a post-graduate backpacking trip through Europe, Scott Cohen decided his future was in the financial industry. The thing is, he was supposed to go to law school.
Scott’s experiences at the University of Texas — where he honed his work ethic, business acumen and passion for service — pointed him toward entrepreneurship. His education in economics gave him a nudge toward business ownership.
He returned home, paused his plans for law school and took a job as a financial planner. Within two years, the family’s insurance business took notice and was interested in adding Scott’s expertise.
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The Waldman Bros Insurance Agency — formed in 1949 by Scott’s great uncle Bill Waldman and Scott’s grandfather Erwin Waldman — had been a cornerstone in Dallas for decades. Scott’s father Howard Cohen and Scott’s uncle Steve Waldman joined the firm in the early 1970s, growing its clientele and its commitment to the community.
Scott joined the firm in 1995. He represented the third generation of the family to join the business, but he had a different vision for its growth.
Scott founded Waldman Bros’ wealth management department and developed it quickly, soon becoming the company’s top revenue generator. It was a unique arrangement, combining wealth management and planning with Waldman’s traditional insurance services — and eventually, Scott knew it was time to spread his wings.
“The business I was managing was becoming vastly different from the rest of the businesses within the company,” Scott said. “I had a vision for what we could accomplish with a singular focus on wealth management, and I knew the level of service I wanted to deliver for our clients.”
Scott bought the wealth management business from Waldman Bros, and he opened the doors at CD Wealth Management on June 30, 2014.
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Many of CD Wealth Management’s team members came to join Scott from Waldman Bros: Kelley Followwell (who joined Waldman in 1996), Andy Dropkin (2004), Alison Glasgow (2007) and Ilona Friedman (2009).
The move allowed the team to focus entirely on wealth management — and on building a new standard for client service, one that is recognized nationally among its peers.
“The core team that came over from Waldman Bros brings decades of experience together, and Andy and Ilona bring excellent leadership to our team. Our shared history has created a strong foundation for our future growth.”
“Doing wealth management and planning, that part is the most rewarding because you are helping your clients achieve their goals and their visions,” said Andy, who serves as CD Wealth’s Chief Investment Officer. “We do it with a high level of service, and I think our clients recognize that and appreciate it.”
Together, the team members who joined Scott from Waldman share more than 100 years of combined experience, as well as a common history, a dedication to client care — and a meticulous, purpose-driven approach.
“Consistency is important when you are trusting someone to manage your money,” said Ilona, the company‘s Chief Wealth Management Officer. “When somebody knows all the ins and outs of your life, it’s not just finances. It’s literally everything that deals with your life.”
Along with annual industry recognitions from Forbes, Barron’s and others, CD Wealth is known as a best-in-class employer as well. The Dallas Business Journal has named CD Wealth in its Best Places to Work rankings three years in a row — a reflection of its commitment to its culture and its employees’ growth.
“We take good care of one another,” Ilona said. “I don’t think you’ll see another company that takes care of its employees the way that we do.”
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In 2022, Bluespring Wealth Partners, LLC, acquired CD Wealth Management to form a wealth management hub in North Texas that will help both companies grow through thoughtful investments.
Bluespring Wealth Partners’ investment provides the team with access to resources and unparalleled expertise to fuel growth and continued innovation in client service; CD Wealth continues to do business under its own name, and its founder and partners maintain a significant equity interest in the partnership. Scott, Andy, Ilona and CD Wealth play a large role in the continuing growth of Bluespring and its affiliates, sharing best practices and insights to improve the industry’s level of service.
“I don’t compare our business to other wealth firms. I compare it to any business in the world, and I don’t want any other business to be doing a better job of delivering service to their clients than we do.”
In the fourth quarter of 2023, CD Wealth reached another significant milestone, surpassing $1 billion in assets under management — and $1.3 billion in the fall of 2024 — while maintaining the same commitment to white-glove service for its loyal clientele.
“No matter how well our business is doing or how fast it is growing, we are always striving for improvement,” Scott said. “We are entirely focused on delivering wealth planning that transforms our clients’ lives.”
