Cambridge Investment Research Incorporation is a United States-based

broker-dealer In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and ...

and

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

firm headquartered in

Fairfield, Iowa Fairfield is a city in, and the county seat of, Jefferson County, Iowa, United States. It has a population of 9,416 people, according to the 2020 United States census, 2020 census. The median family income is $46,138, with 10% of families belo ...

. The company was founded in 1981 and mainly works as a broker-dealer, but also manages investment assets through its

subsidiary A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...

Cambridge Investment Research Advisors Inc. It is one of the largest independent broker-dealers in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

History

Cambridge Investment Research was founded in 1985 by Eric Schwartz. As of 2010 it was still controlled by its founder, and was one of the biggest broker/dealers in the US. In January 2017, Schwartz stepped out of the CEO role and was made Executive Chairman, and Amy Webber was made CEO in addition to her role as president. As of 2017, the company was structured as a

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

, Cambridge Investment Group, Inc., that comprised multiple broker-dealers and

registered investment adviser A registered investment adviser (RIA) is a firm that is an investment adviser in the United States, registered as such with the Securities and Exchange Commission (SEC) or a state's securities agency. The numerous references to RIAs within the Inv ...

subsidiaries, including: Cambridge Investment Research Advisors, Inc. and Cambridge Investment Research, Inc. In April 2016, the

U.S. Securities and Exchange Commission The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market m ...

charged Cambridge Investment Research Advisors with failing to adequately supervise an employee who defrauded at least 47 advisory clients and engaged in unsuitable trading in some clients’ accounts. The company settled the case by paying a $225,000 penalty. Webber joined the

FINRA The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that financial regulation, regulates member brokerage firms and exchange (organized market), exchange markets. ...

Board of Governors in August 2017.

Investments

The company's top 5 holdings as of March 2017 were:

References

{{reflist 1981 establishments in Iowa Brokerage firms Companies based in Iowa Investment management companies of the United States