Announcement
CIR’s Advanced Search feature is now live! It’s no secret that previously it was hard to find information on the Cambridge website. We are thrilled to see Cambridge taking our feedback and making improvements. Click here to learn more.
Welcome New Financial Professionals & Admins
Over the past few months, we’ve seen a focus on team growth. Adding new team members shows us that we are growing as an Enterprise but also that our Advisors are prioritizing servicing their clients. Please help us welcome the following people:
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Allan Palma – Financial Professional – Berkley, MI
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Tyler Ferguson – Licensed Admin – Tempe, AZ
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Tyler Diver – Licensed Admin – Omaha, NE
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Cassie Saine – Admin – Tempe, AZ
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Miriam Kershaw – Admin – Tempe, AZ
Compliance News
Firm Element
It’s true. Starting this year, Cambridge’s Firm Element Program will be eliminating the Firm Element course requirements. Yah! This change is being made possible by the new annual FINRA Regulatory Element CE course and Cambridge’s Annual Compliance Meetings.
Best Interest Disclosure (BIA).
On the BIA form, in section 7A (Current Account Fees and Expenses) there are three choices that require you to provide some additional information on page 3 in the Note’s section. If you select any of the three choices in section 7A, additional formation is required.
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Advisory Program Fees – include note with advisory fees client is currently paying.
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Solicitor Fees – if qualified account, include the solicitor fees in Notes section.
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Made best efforts… – state what attempts were made by yourself and/or client(s) to obtain fee/expense information.
Compliance Reminders
Submitting Sponsor Company Paperwork
Question: Can you submit business to the sponsor company prior to principal approval?
Answer: No. Please check Trade Review in CLIC and make sure the trade key has been approved by the OSJ Principal before sending documents to the sponsor company.
Exceptions: Only a COBD can be forwarded to the sponsor company before an OSJ Principal has approved the trade key.
Impact: When commission business is submitted to the sponsor company prior to OSJ Principal approval and commissions are received at Cambridge, those commissions cannot be paid out to the Financial Advisor per regulatory guidelines. It is also a compliance violation in which a letter of education and letter of cautions may be issued.
Correspondence
Please be sure you are submitting your Correspondence in a timely manner. All submissions should be complete within 14 days of use or receipt of correspondence, but no later than 30 days
Correspondence Review is accessed via RegEd, with single sign-on from cir2.com. Once you have accessed RegEd, select the paper airplane image from the menu options for Communications Review.
How to Submit Hardcopy Correspondence
Upcoming Events
2023 Ignite – September 20-23 | Gaylord Palms Resort | Orlando, FL – Register
2024 PJ Annual Conference – April 21-23 | Tempe Mission Palms | Tempe, AZ – RSVP HERE
Cambridge Virtual Events – For information on Cambridge’s virtual webinars, please visit this link.
Helpful Resources
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Disclosure Checklist, Chart and Resources – Pjadvisorgroup.com – Please contact the office if you need the password to login
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Terminating a Client – Guide
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Vulnerable Client Documentation Process – Click here
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Diminished Capacity Documentation Process – Click here
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Vulnerable Client Intake Form – Click here