Cambridge Embraces ERISA Rules and Regulations for Retirement Plans

Posted: May 2, 2012 at 4:17 am


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FAIRFIELD, Iowa--(BUSINESS WIRE)--

Cambridge Investment Research Inc. (Cambridge), one of the nations leading independent broker-dealers, announced the selection of Fiduciary Benchmarks to provide 408(b)(2) disclosures for rep-advisors to their clients. This selection is part of the comprehensive solutions and support Cambridge has been building over the last two years in anticipation of regulatory changes impacting the retirement plan marketplace.

We understand this time of extreme change in the qualified plan market may also give rise to many advisors evaluating whether they can, or want to, continue in the market, said Amy Webber, president and COO. In contrast, given our long-time focus in this market, we have many successful Cambridge advisors across the country seizing the opportunity to work with those advisors stepping back from qualified plans. We also have Cambridge advisors ready to purchase retirement plan business from those electing to omit retirement plans from their business model.

Cambridge has continued to expand the Cambridge Retirement Center to include new marketing resources and guidance prompted by the fee disclosure requirements related to 404(a)(5) and 408(b)(2). After considering several 408(b) (2) solutions, Cambridge selected Fiduciary Benchmarks because it offers a service and technology solution that will help rep-advisors disclose fees, services, and fiduciary status in accordance with this important regulation as it goes into effect July 1, 2012. Fiduciary Benchmarks also enables independent rep-advisors to access benchmarking technology and service that allows the ability to leverage the information from these disclosures to help determine the reasonableness of fees a stated intent of the new regulation.

Cambridge recognizes many in the industry may be contemplating their position in the retirement plan marketplace, but we remain committed to supporting our rep-advisors who choose to serve their clients in the retirement plan marketplace, said Dan Sullivan, senior vice president of marketing. In addition to enabling our rep-advisors to be prepared to address the new regulatory requirements on time when July 1 rolls around we take our role as The Fee Experts1 seriously and embrace the fiduciary standard by allowing our rep-advisors to serve their retirement plan clients at the level the client and rep-advisors feel is appropriate for their plan. Cambridge continues to build upon the services and value rep-advisors may provide to retirement plan clients by offering the opportunity to serve as a fiduciary advisor under ERISA Sections 3(21) and 3(38).

About Fiduciary Benchmarks Fiduciary Benchmarks is recognized as one of the industry's leading services for independent, comprehensive, informative, and cost-effective benchmarking services for retirement plans. Started in 2007 by several industry experts, the company now has almost 1,400 respected advisors/consultants using the service. In addition, the company provides benchmarking services to respected broker-dealers, investment only managers, plan sponsors, and record keepers. For more information about Fiduciary Benchmarks, visit http://www.fiduciarybenchmarks.com.

About Cambridge Cambridge Investment Research, Inc., member FINRA/SIPC, is an independent, privately owned broker-dealer with over 2,000 independent registered representatives and more than $45 billion assets under management. Cambridge was recognized as one of the Best of Iowa Businesses in 20102 and was also recently named among the Top Workplaces in Iowa for 20113.

The Cambridge Retirement Center provides rep-advisors with the information and resources needed to confidently service the retirement marketplace and the ever-evolving regulation. It is designed to deliver industry leading resources and expertise, integrated retirement systems, and retirement market solutions while bringing new opportunities to advisors seeking to grow their independent businesses through opportunities in the retirement marketplace.

Cambridge also provides innovative fee programs and a full menu of commission offerings to advisors across the nation. Recognized in the industry as The Fee Experts1, Cambridge has been ranked a fee leader among independent broker-dealers for 11 consecutive years4.

1 THE FEE EXPERTS is a registered trade mark of Cambridge Investment Research, Inc. for its investment advisory service for investment managers. 2IA Biz magazine, Best of Iowa Businesses, 2010 3Des Moines Register, Top Workplaces 2011, September 18, 2011 4Financial Planning magazine, June FP50, Top 50 Independent Broker-Dealer Issue, 2001-2011

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Cambridge Embraces ERISA Rules and Regulations for Retirement Plans

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