Cambridge Investment Research says its 27 college interns will work remotely this summer due to the coronavirus. Its yearly 10-week program, The Next Step, is a paid program launched in 2012.
“Cambridge’s purpose and values continue to drive its approach in navigating the impacts of the COVID-19 pandemic, and the firm is focusing on working with its interns and associates to create a valuable, energized experience for everyone in spite of the challenging environment,” the broker-dealer said in a statement.
The news from the Fairfield, Iowa-based broker-dealer comes about 10 days after the XY Planning Network launched a virtual internship program to link students with its 1,170 advisors.
Its interns will be employed by a mix of departments, such as technology, marketing, human resources and operations. Close to 30% of students who completed the internship program in the past were hired as Cambridge employees; some become financial advisors.
The firm says the now virtual internships will include a remote welcome reception with senior leaders, as well as participation in virtual daily “team huddles” and weekly firmwide digital sessions. It also pairs students with a mentor, supervisor and “executive champion” for guidance and support.
Cambridge had about 3,400 affiliated independent advisors as of Dec. 31, 2019. Its 860 home office associates are led by Amy Webber.
— Check out 3 Ways to Train Future Leaders Today (From Home) on ThinkAdvisor.