Cambridge Investment Research, the Fairfield, Iowa-based independent broker-dealer, reported $25 million in recruited advisor revenue for the first quarter of 2026. This follows a record-breaking 2025, during which the firm attracted $170 million in revenue from new advisors. The firm now serves more than 4,100 advisors and oversees over $280 billion in assets under advisement.
The growth comes as a wave of consolidation reshapes the wealth-management industry, with many larger competitors pursuing merger-driven strategies. Cambridge's internally controlled ownership structure—free from private equity or public-market pressures—has become a key selling point. CEO Amy Webber emphasized that the firm's pitch centers on longevity rather than short-term incentives.
“Advisors today are looking beyond short-term incentives and searching for a partner that aligns with their long-term vision,” Webber said. “Since opening our doors more than 45 years ago, Cambridge has remained committed to independence, stability, and putting financial professionals first.” The firm crossed $2 billion in annual revenue for the first time in 2025, underscoring its scale.
Tammy Robbins, executive vice president of business development, noted that the structural argument resonates with advisors weighing their options. “Cambridge's internally controlled ownership structure allows us to remain focused on the needs of our financial professionals without outside pressures influencing our decisions,” she said. This approach contrasts with the trend of AI-driven M&A analysis widening the gap between scaled platforms and independent RIAs.
Among recent recruits, advisor Jacob Reid cited the transition experience as a key factor. “The idea of changing broker-dealers was daunting—but ultimately necessary,” Reid said. “Cambridge's transition and service teams were present, engaged, and genuinely supportive, making the process far smoother than we expected.” He added that the firm's stability and consistency in service were refreshing compared to firms driven by rampant growth or public-market pressures.
Advisor Curtis Matlin, who joined via the Financial Integrators OSJ in October 2025, pointed to cultural alignment. “We joined Cambridge Investment Research through the Financial Integrators OSJ in October 2025, attracted by Cambridge's culture, values, and long-term vision,” Matlin said. He praised the transition team for making the move smooth and efficient.
The recruiting momentum aligns with broader industry trends, as advisors seek stable platforms amid consolidation. For context, Vanguard's 2025 data showed auto-enrollment and savings rates hitting records, while hardship withdrawals rose, highlighting the need for advisor support. Cambridge's focus on independence and long-term relationships appears to be paying off.
With $280 billion in assets under advisement and a growing advisor base, Cambridge is positioning itself as a haven for those wary of merger-driven changes. The firm's record recruiting run suggests that its message of stability and advisor-centric ownership is resonating in a rapidly evolving market.
