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Wealth Management Firm "cambridge" launches tool that formalizes advice sharing



With the support of Cambridge's new Private Client Solutions service, the 3,800+ financial advisers at the company will be able to address the needs of high- and ultra-high net worth customers by drawing on the firm's collective experience.


The Cambridge advisors can presently access the service from the Iowa-based independent broker/dealer, which is a part of the company's Client Solutions platform. The company wants to support advisers in providing customers with advice that goes beyond investment management and includes other types of knowledge they might require based on their situation, such as business solutions, tax and estate planning, and cash management.


Prior to its official debut earlier this month at Cambridge's Circle of Excellence conference in Boca Raton, Florida, the company started a soft launch in 2022. That comes after the debut of Cambridge's RetireTRAC in October 2022, a tool for advisor growth and retirement planning created in partnership with Nettuno Group that aids advisors in determining their customers' preparation for retirement.


Jeff Vivacqua, president of growth and development at Cambridge, gave the example of a small business owner with large assets who would need counsel on investment management. But, Vivacqua wants advisors to be able to draw on the expertise Cambridge has amassed while operating in a sector with its own brisk M&A pace if the company owner wishes to buy a rival. Vivacqua said that the simplicity of the product may assist advisers in keeping clients from seeking services from other companies and even losing them entirely.


“Without that, they’re left to go search in different directions for hopefully the ideal solution,” Vivacqua said. “It’s a way to help them narrow that funnel and work with them to connect the dots."


Written by: Massimo Scaccia


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