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Cambridge Hires Former LPL Exec to Enhance Acquisitions


Nov 10, 2023


Cambridge Funding Analysis, the Fairfield, Iowa-based impartial dealer/supplier, has employed Dee Morgan, a former vp at LPL Monetary, as senior vp of strategic acquisitions. Morgan, who centered on each recruiting and acquisitions at LPL, replaces Stephen Chipman, who died earlier this 12 months.

Morgan will lead the agency in a extra devoted effort in acquisitions of each dealer/sellers and registered funding advisors. His duties embody analysis and execution of private and non-private firm acquisitions, asset divestitures and restructurings, minority investments and different strategic initiatives.

Previous to becoming a member of Cambridge, Morgan was a vp of recruiting and licensing at First Command Monetary Providers. Earlier than that, he labored at LPL.

Cambridge had all the time been a bit reactive with its acquisition technique, stated Jeff Vivacqua, president of progress and growth on the agency. This position represents a extra proactive strategy. The agency has all the time supported advisors of all income fashions, whether or not that’s commission-only, hybrid or fee-only advisors. However with RIA homeowners, it’s traditionally been extra of a recruiting dialog.

“Those self same RIA homeowners—they might have the identical must take some chips off the desk, promote a small piece or promote all of it,” he stated. “And no matter their succession or continuity plan is, we wish them to know that the options can all exist proper right here at Cambridge. They don’t must go searching outdoors to a different aggregator. They don’t must go searching for one other RIA to merge with. These choices can exist proper right here, the place we could possibly be a possible purchaser of some or all of it, if they’ve subsequent era management. And we are saying that to our personal advisors.”

Vivacqua stated Cambridge’s technique is totally different than different patrons on the market, in that it gives extra flexibility in how a dealer/supplier or RIA needs to transact.

“For Cambridge’s technique, I believe we’re a bit of totally different than a few of the different companies after we strategy acquisitions as a result of we’ll have a look at minority, majority or 100% acquisition discussions,” he stated. “There’s nonetheless conversations and potential with plenty of companies that could possibly be searching for choices that don’t exist with different potential patrons.”

Cambridge at the moment serves just below 4,000 advisors and $155 billion in whole property. Some 70% of its income comes from charges.  


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