Is perpetual independence possible? The founder of one of the country's largest independent broker-dealers is designing his own estate and succession plan to try to make it a reality.
In a riveting move, Cambridge Investment Research - ranked No. 9 on the latest FP50 list of U.S. independent broker-dealers - is constructing a strategy to transfer about $130 million of the company's total $300 million value from founder Eric Schwartz, 60, to company insiders. Ultimately Schwartz's plan would put the entire firm in the hands of Cambridge advisors and employees - a move aimed at preserving the firm's independence indefinitely.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access