Summary: Representatives and financial advisers with Cambridge Investment Research are taking advantage of a succession-planning program that gives junior reps access to capital to buy into senior reps' practices while the broker-dealer, in return, gets a piece of the action. Called Continuity Partners Group LLC, the program was launched two years ago and has seen the number of practices joining the program double, with 46 offices now on board.
 When it comes to selling their businesses, reps and advisers typically face two choices, sell their practice to a bank and lose all control of the business, or sell to junior partners, which is emotionally satisfying but hard to finance, as the junior partners don't have any money.”Cambridge CEO Eric Schwartz |
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