Cambridge Broker-Dealer Acquires $800 Million WealthPlanners

Cambridge Investment Research Inc., an independent broker-dealer, acquired WealthPlanners LLC, a Des Plaines, Illinois-based wealth planning and benefits consulting firm that has been affiliated with Cambridge since 2010 and manages approximately $800 million in assets.

The acquisition advances Cambridge’s continuity and succession strategy by integrating WealthPlanners into a group of employed advisers. The newly branded entity, Cambridge WealthPlanners, now consists of seven advisers and additional associates managing a combined total of more than $1 billion in assets.

Denny Gustin-Piazza, the former owner of WealthPlanners, will lead and grow the new team. The move is designed to provide ongoing advice to client accounts acquired by Cambridge from other broker-dealers and advisers over the years.

“Cambridge has always had an adviser-first approach in how we design our solutions,” said Jeff Vivacqua, president of growth and development at Cambridge. “The acquisition of WealthPlanners reflects the thoughtful evolution of our continuity and succession solutions that began with our founder, Eric Schwartz, more than 20 years ago.”

Under this model, employee advisers serve as a primary mechanism to maintain service consistency when independent ownership changes hands. Gustin-Piazza noted the acquisition served as a specific succession plan that allowed her to remain in a leadership role while transitioning the business to a larger corporate structure.

The WealthPlanners deal is one of several pathways Cambridge offers to advisers navigating continuity or retirement. The firm’s continuity services include:

• Continuity Express: An emergency option for death or disability;
• Succession and Acquisition Solutions: A consulting and lending team dedicated to facilitating transitions between independent advisers or offices of supervisory jurisdiction;
• Cambridge Capital Solutions: A direct-buy option where Cambridge acts as the purchaser for advisers unable to identify a private successor; and
• BridgePort Financial Solutions LLC: A fee-only registered investment adviser that can acquire practices with near-100% or fully fee-based revenue.

Cambridge Investment Research operates Cambridge Investment Research Advisors Inc., a large corporate RIA. Earlier this month, Cambridge appointed Cody Phelps as its first vice president of strategic acquisitions.

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