Cambridge Investment Research Inc.
Cambridge Investment Research Inc.
Clearing firm: National Financial Services LLC, Pershing LLC
No. advisers: 4,214
No. franchises: 2,342
AUM: $114,065,469,702
Year founded: 1981
Year end: Dec. 31
No. of retail offices: 2,536
Recruitment & Staffing
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| No. of reps | 4,529 | 4,214 | 4,155 |
| No. of reps, male | 3,366 | 3,119 | 3,066 |
| No. of reps, female | 1,163 | 1,095 | 1,089 |
| No. of producing reps | 3,623 | 3,407 | 3,296 |
| No. of producing reps, male | 3,005 | 2,821 | 2,727 |
| No. of producing reps, female | 618 | 586 | 569 |
| No. of reps producing $100K-$499K /year | 1,578 | 1,588 | 1,462 |
| No. of reps producing $500K+ /year | 498 | 436 | 373 |
| No. of CFPs | 832 | 799 | 806 |
| No. of full-time employees | 894 | 863 | 823 |
| No. of fee-based advisers served | 3,181 | 3,044 | 2,984 |
| Average payout per rep, per year | $308,639 | $298,538 | $280,224 |
| Avg. annual production of top 20% reps | $722,096 | $690,811 | $681,709 |
| Total payout, per year | $1,084,867,961 | $1,000,550,889 | $906,665,662 |
| Cost of E&O insurance per rep, per year | $3,000 | $3,000 | $3,000 |
| Affiliation fees charged per rep, per year | None | None | None |
| Affiliation fee coverage | We do not charge affiliation fees. | We do not charge affiliation fees. | We do not charge affiliation fees. |
| $0-$249,999 | $250K-$499,999 | $500K-$749,999 | $750K-$999,999 | $1,000,000+ | |
|---|---|---|---|---|---|
| Mutual funds | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% |
| Insurance | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% |
| Variable annuities | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% |
| Limited parterships | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% |
| Securities | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% | Negotiable up to 100% |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total revenues | $1,084,867,961 | $1,000,550,889 | $906,665,662 |
| Commission revenues | $311,036,376 | $304,622,089 | $283,416,866 |
| Securities revenues | $17,658,164 | $19,918,245 | $15,571,030 |
| Securities revenues: Stocks | $10,671,335 | $11,831,297 | $8,712,813 |
| Securities revenues: Bonds | $3,587,800 | $5,495,647 | $3,897,825 |
| Securities revenues: ETFs | $3,014,624 | $2,265,455 | $2,300,703 |
| Securities revenues: Other | $384,406 | $325,846 | $659,689 |
| Mutual fund revenues | $85,882,908 | $83,643,582 | $82,757,616 |
| Annuities revenues | $171,574,511 | $167,827,421 | $158,375,714 |
| Annuities revenues: Fixed | $1,425,646 | $2,030,185 | $1,350,880 |
| Annuities revenues: Variable | $130,100,856 | $122,733,857 | $119,178,021 |
| Annuities revenues: Other | $40,048,009 | $43,063,379 | $37,846,813 |
| Insurance revenue | $19,692,441 | $16,460,239 | $9,325,658 |
| Insurance revenues: Life | $4,648,910 | $5,235,406 | $4,421,006 |
| Insurance revenues: Disabilities | 0 | 0 | 0 |
| Insurance revenues: LTC | 0 | 0 | 0 |
| Insurance revenues: Other | $15,043,531 | $11,224,833 | $4,904,652 |
| Alternative revenues | $7,257,205 | $7,708,282 | $8,026,178 |
| Alternative revenues: Hedge funds | 0 | 0 | 0 |
| Alternative revenues: Managed futures | $4,668,952 | $4,450,125 | $5,138,188 |
| Alternative revenues: Private placements | 0 | 0 | 0 |
| Alternative revenues: REITs | $2,499,518 | $3,006,111 | $2,590,707 |
| Alternative revenues: Other | $88,735 | $252,046 | $297,283 |
| Other commission revenues | $8,971,148 | $9,064,320 | $9,360,670 |
| Fee revenues | $621,098,888 | $540,973,217 | $509,612,090 |
| Fee revenues: Rep-managed accounts | $409,617,740 | $349,330,518 | $325,600,506 |
| Fee revenues: Firm-managed accounts | $61,440,732 | $55,480,892 | $53,969,834 |
| Fee revenues: Outside-managed accounts | $132,869,113 | $119,633,486 | $115,647,101 |
| Fee revenues: Other | $17,171,302 | $16,528,321 | $14,394,649 |
| Total revenues: Other | $152,732,699 | $154,955,582 | $113,636,706 |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total account assets | $137,208,235,205 | $114,065,469,702 | $93,145,839,675 |
| Fee-based assets | $79,957,807,634 | $63,570,172,729 | $50,621,378,241 |
| Fee-based assets: Clearing firm | $45,592,781,027 | $35,993,596,286 | $27,147,417,015 |
| Fee-based assets: Advisory firm platforms | $7,578,597,286 | $6,373,011,400 | $5,344,961,935 |
| Fee-based assets: Third-party money managers | $11,318,288,892 | $7,990,352,469 | $8,310,085,476 |
| Fee-based assets: Other | $15,468,140,429 | $13,213,212,574 | $9,818,913,815 |
| Total account assets: Other | $57,250,427,571 | $50,495,296,973 | $42,524,461,434 |
| Average assets per rep | $30,295,481 | $27,068,218 | $22,417,771 |
| Social Media & Mobile | |||
| Allows advisers to use social media | Y | ||
| Social media sites allowed | Facebook | ||
| Dedicated mobile application for advisers? | Y | ||
| Primary purpose of mobile application | — | ||
| Software Offered | |||
| Account aggregation software | Albridge Wealth Reporting (Albridge, an affiliate of Pershing) CashEdge (Fiserv) |
||
| Compliance software | Protegent Surveillance (SunGard Data Systems Inc.) RegEd Smarsh Built in house/Proprietary |
||
| CRM | Advisor Assistant (Client Marketing Systems Inc.) Ebix CRM Smartoffice (Ebix) Grendel Online (Big Brain Works LLC) Junxure (CRM Software Inc.) Redtail CRM (Redtail Technology) Wealthbox (Gotham Tech Labs) Sycamore |
||
| Document management | Redtail Imaging (Redtail Technology) Built in house/Proprietary |
||
| Financial planning | Advizr Cheshire Wealth Manager (Cheshire Software Inc.) Easy Money (Money Tree Software Inc.) eMoney360 (eMoney Advisor) Finance Logix (Envestnet) Golden Years (Money Tree Software Inc.) inStream MoneyGuidePro (PIEtech Inc.) Morningstar Advisor Workstation (Morningstar Inc.) NaviPro Planning Suite (Advicent, formerly Zywave) Silver Financial Planner/Silver Online (Money Tree Software Inc.) TOTAL Planning Suite (Money Tree Software Inc.) RightCapital RetireUp Advysis AdvisorVision Advice America |
||
| Portfolio management | Albridge Wealth Reporting (Albridge, and affiliate of Pershing) Folio |
||
| Portfolio rebalancing | Fidelity Wealth Central (Fidelity Institutional Wealth Services) FolioDynamix (FolioDynamix) NetX360 (Pershing) Schwab Portfolio Rebalancer (Schwab Advisor Services) |
||
| Robo-advice | |||
| Offers robo-advisory platform? | N | ||
| If not, when plans to offer a robo-platform | 0-6 months | ||
| Robo-advice services offered | In progress | ||
| How robo-platform developed | — | ||
| Charge for robo-advisory services? | — | ||
- Notes
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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