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Industry Spotlight > Broker Dealers

BD Cambridge Adopts Code of Conduct

By Janet Levaux

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Soon after news of Ken Fisher’s crude remarks broke last month, Cambridge Investment Research President and CEO Amy Webber spoke out about the “inappropriate, disrespectful behavior” and called for “a professional code of conduct and a culture of inclusion at all industry events.” 

The firm she leads — which has some 3,300 advisors, 20% of whom are women — adopted such a code last week. 

Based on “recent non-Cambridge, industry events, we believe it is time to formalize a Cambridge Code of Conduct that aligns with our values and reflects the inclusion and respect we already expect at Cambridge hosted events,” she and Executive Chair Eric Schwartz said in a note to advisors. 

(See Blog Series Details Sexual Assaults at Financial Events)

“Our Code of Conduct is to be honored and enforced by organizers, moderators, speakers and attendees whether they are home office associates, independent financial professionals, industry partners or guests,” they explained. 

Neither Webber nor Schwartz were at the recent Tiburon CEO Summit when Fisher spoke, “but we believe this should be a turning point to bring awareness to the reality that it does happen and should not be tolerated at any level, on or off the record,” the two said in their letter.

The code includes a mandate that advisors and others “be professional: Keep commitments, use appropriate language, be thoughtful, exercise caution with intended humor, and behave ethically while displaying a positive attitude.”  

The code will be enforced by leaders and staff of the broker-dealer, which hosts more than 24 events a year. 

“Participants asked to stop any harassing behavior are expected to comply immediately. If a participant engages in harassing behavior, the staff may take any action they deem appropriate, including warning the offender or expulsion from the event with no refund, if applicable,” the executives said.

— See this Timeline on the Fallout From Ken Fisher’s Crude Remarks.

Janet Levaux

@Think_JanetL

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