Cambridge loses $120 million team to LPL

A five-person hybrid advisory that manages $120 million in assets has switched affiliation from Cambridge Investment Research to LPL. Based in Reading, Pa., and operating as CFG, the team is led by Michael Krumholz and includes adviser Sheila Little. The team will use the services of the Independent Advisor Alliance, an advisory firm that serves 75 of LPL's hybrid affiliates, LPL said in a release. CFG was founded in 1986 and also maintains an office in Columbia, S.C. (More: See all the latest moves in the InvestmentNews Advisers on the Move database) Mr. Krumholz has been affiliated with several broker-dealers over the years, including First American National Securities, Intersecurities, WMA Securities and Prime Capital Services. He and his team joined Cambridge in 2007. Ms. Little began her career in 2013 when she joined CFG.