Cambridge posts record recruiting run as advisors shun consolidation wave

Cambridge Investment Research posted $25 million in recruited advisor revenue in the first quarter of 2026, extending a run of growth that saw the firm pull in a record $170 million across all of 2025.

The Fairfield, Iowa-based independent broker-dealer attributed the continued momentum to advisors looking for an alternative to the wave of consolidation reshaping wealth management. Cambridge's internally controlled ownership structure — meaning no private equity backing or public-market pressures — has become a selling point as larger competitors pursue merger-driven growth strategies.

CEO Amy Webber said the firm's pitch is built around longevity rather than transaction 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. Our recruiting momentum reflects the value advisors place on having the freedom to build their businesses their way while partnering with a firm that remains focused on sustainable growth and long-term relationships."

The record 2025 recruiting year also coincided with Cambridge crossing $2 billion in annual revenue for the first time. The firm now serves more than 4,100 advisors and has more than $280 billion in assets under advisement.

Tammy Robbins, executive vice president of business development, said the structural argument is increasingly resonating with advisors weighing their options.

"We continue to see advisors gravitating toward firms that offer true independence and operational stability," Robbins said. "Cambridge's internally controlled ownership structure allows us to remain focused on the needs of our financial professionals without outside pressures influencing our decisions. Advisors want a partner that will support them not only through their next transition, but throughout the full lifecycle of their business, and we believe that continues to differentiate Cambridge in the marketplace."

Among recent recruits, advisor Jacob Reid said the transition experience helped ease a move he had been hesitant to make.

"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. We're already feeling the difference in Cambridge's stability and consistency in service and commitment to advisors. It's refreshing to partner with a firm that isn't driven by rampant growth, mergers, or public-market pressures. Instead, the focus is clearly on supporting advisor teams, so we can continue delivering great care and outcomes for our clients. Partnerships matter, and we're very happy with our decision to join Cambridge."

Advisor Curtis Matlin, who joined via the Financial Integrators OSJ in October 2025, pointed to cultural alignment as the deciding factor.

"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. "We are deeply appreciative of the exceptional support we received from the Financial Integrators Transition Team. They have been helpful, responsive, knowledgeable and a genuine pleasure to work with. We thank them for making our transition smooth, efficient and positive."

Cambridge operates offices in Fairfield, Iowa and Phoenix, Arizona.