NEWS & PRODUCTS, JULY 2007

Marcia Martin was named senior vice president, operations and partner support, at Cambridge Investment Research. Martin, who joined Cambridge in January 2005, assumes oversight for the Cambridge Partner Support Center, set to launch on August 1. Prior to joining Cambridge, she was president of CUNA Mutual Group’s broker/dealer. Additionally, Cambridge announced that Tom Anderson will join the firm as vice president, chief compliance officer, filling the vacancy created by Martin’s transition. Anderson was most recently with SMH Capital/SMH Capital Advisors where he served as director of compliance, chief compliance officer…

The Financial Industry Regulatory Authority (FINRA) has warned investors about the potential downside of using 401(k) debit cards to borrow money from their retirement funds. FINRA’s Investor Alert, 401(k) Debit Cards–Think Before You Swipe, explains that a 401(k) debit card is like a debit and credit card rolled into one. It allows you to access and spend your own money, rather than someone else’s. It’s like a credit card because you are billed each month for the charges you ring up. That bill includes a minimum payment due plus interest, fees, and an additional interest charge that’s paid to the credit card vendor servicing the account. “Regardless of how easy it might be to do, borrowing against your retirement savings should be a last resort, and done only in emergency situations,” said John Gannon, FINRA senior VP for Investor Education, in a statement…