SEC-registered wealth management firm Broker-dealer affiliated
Cambridge Investment Research Advisors, Inc.
As of its Form ADV filed September 11, 2026, Cambridge Investment Research Advisors, Inc., an SEC-registered, broker-dealer affiliated wealth management firm in Fairfield, Iowa, reported $138.7 billion in regulatory assets under management across 608,275 accounts, ranking #1 among all wealth firms in Iowa by assets.
Registration
- Registration
- SEC-registered, Approved
- CRD number
- 134139
- SEC file number
- 801-63930
- Registered since
- February 3, 2005
- Latest Form ADV filing
- September 11, 2026
- Organized as
- Corporation
- Fiscal year ends
- December
- Other offices
- 2,339
Key figures
- Regulatory assets under management
- $138.7 billion
- Discretionary
- $130.8 billion (94.3%)
- Non-discretionary
- $7.9 billion
- Accounts
- 608,275 (585,088 discretionary)
- Clients
- 430,028, approximate as reported
- Employees
- 3,527
- Advisory staff
- 3,496 performing investment advisory functions
- Average account
- $228,013
- Asset growth, 1 year
- 35.4% (from $102.4 billion a year earlier)
- Asset growth, 3-year annual rate
- 18.9% (from $82.4 billion three years earlier)
- Asset growth, 5-year annual rate
- 15.2% (from $68.5 billion five years earlier)
- Client growth, 1 year
- 7.4% (from 400,232)
Broker-dealer affiliated. The firm is affiliated with a broker-dealer (Item 7.A(1)), at least half of its advisory staff are registered representatives of a broker-dealer (Item 5.B(2) against 5.B(1)), and its advisers manage less than $100 million each on average (5.F(2)(c) over 5.B(1)), the pattern of a broker-dealer's advisory arm rather than an adviser that owns a small broker-dealer. It is ranked among all wealth firms, the directory's view that includes wirehouses and broker-dealer firms, not in the main lists of independent RIAs. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among all wealth firms, including wirehouses and broker-dealer firms.
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 1, 2010 | $13.2 billion |
| October 3, 2011 | $14.4 billion |
| October 1, 2012 | $20.9 billion |
| October 1, 2013 | $15.8 billion |
| October 1, 2014 | $20.0 billion |
| October 1, 2015 | $23.5 billion |
| October 3, 2016 | $25.2 billion |
| October 2, 2017 | $28.7 billion |
| October 1, 2018 | $40.3 billion |
| October 1, 2019 | $44.3 billion |
| October 1, 2020 | $56.2 billion |
| October 4, 2021 | $68.5 billion |
| October 3, 2022 | $82.2 billion |
| October 5, 2023 | $82.4 billion |
| October 1, 2024 | $87.4 billion |
| September 2, 2025 | $102.4 billion |
| October 2, 2026 | $138.7 billion |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| High net worth individuals 47,431 clients | $69.6 billion | |
| Individuals (other than high net worth) 308,441 clients | $65.0 billion | |
| State or municipal government entities 2,948 clients | $3.0 billion | |
| Pension and profit sharing plans 2,387 clients | $1.1 billion | |
| Charitable organizations 6 clients | $16.9 million |
How the firm is paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Commissions
- Other
Advisory services
- Financial planning
- Portfolio management for individuals or small businesses
- Portfolio management for businesses or institutional clients
- Pension consulting
- Selection of other advisers
- Market timing services
- Educational seminars or workshops
Financial planning clients (Item 5.H): 48500.
Wrap fee program sponsor or portfolio manager: yes.
Other business, affiliations and custody
Other business activities (Item 6.A)
None reported.
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Other investment adviser
- Accountant or accounting firm
- Lawyer or law firm
- Insurance company or agency
- Pension consultant
- Real estate broker, dealer or agent
Custody (Item 9)
The firm reported custody of client cash or securities, $280.0 billion in total.
Investment adviser representatives
- IARs registered with the firm
- 3,940
- Also registered through a broker-dealer
- 3,701
- Employees who are IARs (Form ADV 5.B(3))
- 3,527
Designations held by the firm's IARs: CFP 702, ChFC 284, CFA 35, PFS 19.
Between 302 and 1,896 of the firm's 3,940 IARs are registered in jurisdictions that require IAR CE. The source counts registrations by jurisdiction, and many IARs are registered in more than one, so the exact number is not knowable from it. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 15 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in Iowa
| Firm | City | RAUM |
|---|---|---|
| Transamerica Retirement Advisors, LLC | Cedar Rapids | $18.8 billion |
| Principal Securities, Inc. | Des Moines | $17.0 billion |
| Avantax Planning Partners, Inc. | Dubuque | $7.6 billion |
| Integrity Alliance, LLC | Urbandale | $5.4 billion |
| Foster Group, Inc. | West Des Moines | $4.8 billion |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- Cambridge Investment Research Advisors, Inc. on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: joincambridge.com
- Wealth management firms in Iowa
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.