Cambridge Investment Research Inc., a Fairfield, Iowa-based independent firm, has created a fee-only registered investment advisor in an effort to attract small independent firms.
BridgePort Financial Solutions, which launches with $1 billion in assets under advisement, can provide smaller RIAs with support in areas such as technology, practice management, outsourcing solutions, and succession and acquisition.
“BridgePort is our newest solution for fee-only financial advisors interested in taking that next step,” Jeff Vivacqua, president of growth and development at Cambridge, said in a statement.
“We created BridgePort with the smaller RIA business owner in mind; for many firms that fall into this category, it may make sense to streamline operations and accelerate their growth pattern by becoming part of a larger group,” he continued. “That is why we created this standalone firm, it is a different business model than Cambridge.”
According to the statement, small firms can strike a deal with BridgePort that involves full ownership of their business or a minority or majority stake. They can also choose to retain their own branding or adopt BridgePort’s branding.
Eddie Rollins, a former partner at Horizon Investments who led its distribution efforts, was named managing director of BridgePort.
As SECURE 2.0 and state mandates drive micro 401(k) plan adoption, advisors are set to play a bigger role in helping small businesses navigate retirement solutions.
More than three-fifths of surveyed advisors see generative AI as an efficiency booster, though many are still concerned about data privacy and lack of tech integration.
The new offerings, including managed options on Franklin's canvas platform, come as managed account assets surge in the US to hit $13.7 trillion.
Meanwhile, Raymond James bolstered its employee advisor arm with an industry veteran who previously oversaw $750 million at Stifel.
Staffing shortfalls, new policies, and increased demand for clarity create potential speed bumps for tax planning and compliance.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
