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Cambridge Investment Research Tag

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Cambridge buys small broker-dealer with $4 billion in assets

17:03 11 October in In the News by rafferty

September 30, 2020 By Bruce Kelly, Investment News The deal comes as mergers and acquisitions in the brokerage industry have slowed to a crawl due to disruptions caused by COVID-19 While registered reps and financial advisers have continued to move to new firms, albeit at a much slower pace during the COVID-19 pandemic, broker-dealer acquisitions have curtailed dramatically since March. That market may be thawing, with Cambridge Investment Research Inc. on Wednesday saying it had purchased a small broker-dealer, FCG Advisors in New Jersey, with nearly $4 billion in assets, 19 reps and advisers and $9 million in annual revenues. Terms of the deal were not disclosed. FCG Advisors will operate as a branch, or separate enterprise, at Cambridge. John Combias, founder and managing director of FCG Advisors, will continue to lead the group. Broker-dealer mergers and...

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Cambridge Investment Research bags mid-sized broker-dealer

16:47 21 August in In the News by rafferty

August 20, 2018 By Bruce Kelly, Investment News Broker Dealer Financial Services, an IBD with 150 reps and advisers, and $3.5 billion in assets, will become a Cambridge OSJ   The consolidation of the brokerage industry continues, and in the latest deal Cambridge Investment Research Inc., one of the largest independent contractor firms, said on Monday it had acquired Broker Dealer Financial Services Corp., a mid-sized firm with about 150 reps and advisers, $3.5 billion in assets and $20 million in annual revenues. Broker Dealer Financial Services, or BDFS, will become an enterprise branch, called a "super OSJ" for office of supervisory jurisdiction, of Cambridge, according to a letter sent Monday to Cambridge's 3,956 reps and advisers from the firm's senior management. Both firms are based in Iowa. Terms of the deal were not disclosed. Independent brokers...

LPL Woos FAs at Cambridge Investment Research

16:20 12 April in In the News by rafferty

April 12, 2018 By Garrett Keyes, Financial Advisor IQ LPL Financial has made at least one offer to an advisor at Cambridge Investment Research in a bid to poach advisors previously affiliated with the National Planning Holdings, the FA confirms. In August LPL bought NPH’s assets from Jackson National Life for $325 million and has since been enticing advisors within the network to onboard with LPL so that it could hit an onboarding bonus. Anita Ritter, an FA at Cambridge, confirms she was the target of an outreach with the same terms as previous offers to advisors at Cetera Financial, Securities America and Kestra Financial – where many former NPH advisors went after the sale.The offer made to Ritter – and other advisors – is 50 basis points on assets for joining LPL’s RIA...