Cambridge Investment Research purchased a minority stake in $13-billion hybrid RIA The AmeriFlex Group. The investment comes six months after the Las Vegas-based firm joined Cambridge from Osaic. AmeriFlex remains majority advisor-owned and independently operated.
AmeriFlex will use the proceeds to expand its SuccessionFully platform, which helps advisors transition their practices with the goal of maximizing their business value. The firm said the program addresses increasing demand for succession planning with a focus on continuity, marketplace access, deal structuring and a lack of conflicts.
“Strengthening our partnership with Cambridge enhances our ability to support advisors planning for retirement or long-term continuity,” said Thomas Goodson, Founder and CEO of AmeriFlex. “This investment enables us to expand the platform nationally, enhance advisor resources and continue protecting the legacy each advisor has built.”
Jeff Vivacqua, President of Growth and Development at Cambridge, added that the investment is an example of his firm’s commitment to supporting affiliated advisors.
“Cambridge values the opportunity to partner with AmeriFlex and support its growth and succession plans in the coming years,” he said. “Both firms value true independence for their advisors, maintaining internal control and being a driving force in wealth management.”
In the past six months since affiliating with Cambridge, AmeriFlex has added 11 advisors and over $1 billion in client assets.
Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at mmadden@wealthsolutionsreport.com.
