Cambridge ditches OSJ label amid fee-based shift, segmentation strategy
June 5, 2018 By Tobias Salinger, Financial Planning The rise of fee-based business in the independent broker-dealer space has prompted one of the largest firms to drop the traditional “office of supervisory jurisdiction” label from its service model for advisors. The structure of Cambridge Investment Research’s affiliated practices remains the same in terms of compliance oversight, but the Fairfield, Iowa-based firm has become “really more of an RIA than a broker-dealer” because 87% of its advisors are now dually registered, says Chief Risk Officer Seth Miller. The No. 7 IBD’s advisors no longer associate with terms like “OSJ” and “branch,” according to Miller, who says Cambridge is also studying how best to tailor its approach based on the size of the practices. The firm announced a new approach at its conference for top producers...
