Amy Webber, president and CEO of Cambridge Investment Research (Photo: Tom McKenzie)
Cambridge Investment Research announced today it has added FCG Advisors, which has $4 billion in assets under administration, as an enterprise firm. The Chatham, New Jersey boutique firm has 19 licensed financial professionals and approximately $9 million in annual revenue. Fairfield, Iowa-based Cambridge's AUA as of August was $114.1 billion, with 3,586 active financial professionals.
Although terms were not disclosed, Cambridge said it had acquired "ownership of limited assets of FCG Advisors" and that 40-year industry veteran John Combias, founder and managing director of the former RIA and broker-dealer, will maintain control.
Cambridge has defined enterprise firms as advisors collaborating under shared leadership but operating under separate marketing identities.
The IBD said it took a "small minority stake" and it has been averaging roughly one acquisition a year for the past five years, "however, these opportunities have become a larger focus."
According to Cambridge President and CEO Amy Webber, "FCG Advisor's values closely align with Cambridge. As an enterprise, the firm is competitively positioned with access to expanded resources, reduced risk, and a focus on growth of their financial professionals and their clients."
