At a glance
- The denial was aimed at speculation that the independent broker-dealer is next on LPL's acquisition list.
- For advisors weighing a Cambridge affiliation, the denial is now on the record from the executive who would sign a sale.
- In the 12 months through Oct. 31, Private Wealth Daily's Moves Wire recorded one move involving Cambridge.
Cambridge Investment Research is not for sale and will not be sold to LPL Financial or any other firm, chief executive Amy Webber said in a Nov. 2 interview with Wealth Solutions Report. The denial was aimed at speculation that the independent broker-dealer is next on LPL's acquisition list.
For advisors weighing a Cambridge affiliation, the denial is now on the record from the executive who would sign a sale. Webber said Cambridge is the only firm with a detailed public plan that brings together strategy, operations and capital structure to keep it independent, and she cited founder and co-chairman Eric Schwartz's commitment.
In the 12 months through Oct. 31, Private Wealth Daily's Moves Wire recorded one move involving Cambridge. Justin Pandy and Harrison Kennard of Lakewood Wealth Management left for LPL Financial on Oct. 1 with a three-person team managing $170 million in client assets. There were no arrivals.
LPL paid $2.7 billion for Commonwealth in 2025 and has since struck deals to acquire Mariner Advisor Network and Good Life Financial Advisors, according to Wealth Solutions Report. LPL reported $357 million of third-quarter net income and is preparing to onboard Commonwealth, as Private Wealth Daily previously reported.
"We aren't selling to LPL or any other firm, regardless of what you might hear from the firms themselves or third-party recruiters, where the rumor mill can sound routine," Webber said.
We aren't selling to LPL or any other firm, regardless of what you might hear from the firms themselves or third-party recruitersAmy Webber, chief executive of Cambridge Investment Research
Reported by the Recruiting & transitions desk from Wealth Solutions Report and Private Wealth Daily Moves Wire. Published . Corrections