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April 03, 2024 at 11:37 AM
Cambridge Investment Research has launched a new outsourced personal chief financial officer service for wealthy clients. With the new offering, Cambridge aims to connect its 3,800-plus independent financial professionals and their clients with the financial management expertise of a veteran CFO.
The rollout of the new offering comes about a year after Cambridge introduced its private client solutions group. The group brings together resources and expertise related to investment management, insurance, cash-flow management, tax planning, wealth protection and other major issues in the high- and ultra-high-net-worth client segments.
Through the expansion, financial professionals will be able to choose from a customizable menu of services for their clients which includes monthly household bookkeeping services, electronic bill payments, budget preparation and review, and more options.
By outsourcing these tasks to a seasoned CFO, financial professionals should be able to uncover useful insights into a client’s household financials and demonstrate their commitment to holistic planning, according to the independent broker-dealer.
