Cambridge Investment Research Advisors, Inc.

Registered investment adviser · Fairfield, IA · CRD #134139

Form ADV data as of 2026-09-01

Regulatory assets

$138.69 billion

Total accounts

608,275

Employees

3,527

Disclosure events

Firm details

Website: https://www.cambridgestronger.com/
Telephone: 641-472-5100
SEC file number: 801-63930
Most recent Form ADV filing: 2026-08-28
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 15 disclosure questions answered Yes, covering 80 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

Convicted of or pled guilty/no contest to a felony (past 10 years)
Charged with a felony (past 10 years)
Convicted of or pled guilty/no contest to an investment-related misdemeanor (past 10 years)
Charged with an investment-related misdemeanor (past 10 years)
SEC or CFTC found a violation of its regulations or statutes
SEC or CFTC entered an order in connection with investment-related activity
SEC or CFTC imposed a civil money penalty or a cease-and-desist order
Another regulator found a false statement, omission, or dishonest, unfair, or unethical conduct
Another regulator found a violation of investment-related regulations or statutes
Another regulator entered an order in connection with investment-related activity (past 10 years)
Another regulator denied, suspended, or revoked a registration or restricted activity
A self-regulatory organization found a false statement or omission
A self-regulatory organization found a violation of its rules
A self-regulatory organization expelled, suspended, barred, or restricted the firm
A court enjoined the firm in connection with investment-related activity (past 10 years)

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$130.83 billion
Non-discretionary regulatory assets under management	$7.87 billion
Total regulatory assets under management	$138.69 billion
Discretionary accounts	585,088
Non-discretionary accounts	23,187
Total accounts	608,275
Regulatory assets under management attributable to non-U.S. persons	$466.7 million

People

Total employees (excluding clerical)	3,527
Employees performing investment advisory functions (including research)	3,496
Employees who are registered representatives of a broker-dealer	3,336
Employees registered as investment adviser representatives with a state	3,527
Employees registered as IARs for another investment adviser	104
Employees who are licensed insurance agents	3,172
Firms or persons who solicit advisory clients on the firm's behalf	128

Custody

Has custody of client cash or bank accounts	No
Has custody of client securities	Yes
Client funds and securities held in the firm's custody	$177.27 billion
Clients for whom the firm has custody	379,648
A related person has custody of client cash or bank accounts	No
A related person has custody of client securities	Yes
Client funds and securities held in a related person's custody	$102.71 billion
Clients for whom a related person has custody	295,591
The firm acts as a qualified custodian	No
A related person acts as a qualified custodian	No
Number of persons acting as qualified custodians for the firm's clients	10

How the firm is compensated

A percentage of assets under managementHourly chargesFixed fees (other than subscription fees)CommissionsOther

Advisory services offered

Financial planning servicesPortfolio management for individuals and/or small businessesPortfolio management for businesses or institutional clientsPension consulting servicesSelection of other advisers (including private fund managers)Market timing servicesEducational seminars/workshops

Affiliated related persons

Broker-dealer, municipal securities dealer, or government securities broker or dealerOther investment adviser (including financial planners)Accountant or accounting firmLawyer or law firmInsurance company or agencyPension consultantReal estate broker or dealer

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Buys securities from or sells securities to advisory clients (principal transactions)
Buys or sells for itself securities it also recommends to clients
Executes agency cross transactions involving advisory client securities
Compensates a non-employee for client referrals

Client types

Type of client	Clients	Assets
Individuals (other than high net worth individuals)	308,441	$65.01 billion
High net worth individuals	47,431	$69.61 billion
Pension and profit sharing plans (not the participants or government plans)	2,387	$1.06 billion
Charitable organizations	6	$16.9 million
State or municipal government entities (including government pension plans)	2,948	$3.00 billion