Cambridge Investment Research Acquires $800M Illinois Firm

Fairfield, IA-based independent broker-dealer Cambridge Investment Research has acquired full control of Des Plaines, IL-based WealthPlanners, which oversees about $800 million in assets under management. 

WealthPlanners, founded in 1959 by Denny Gustin-Piazza, is a wealth planning and benefits consulting firm, and has transitioned to Cambridge’s W-2 employee channel, according to the firm.  

Additionally, as part of the acquisition, WealthPlanners has joined an existing group of employee advisors at Cambridge. The newly formed entity, Cambridge WealthPlanners, includes seven advisors and additional associates, managing over $1 billion in total assets.  

Denny Gustin-Piazza, the prior owner of WealthPlanners, will lead and grow the new team. This move reflects Cambridge’s commitment to purposeful growth in supporting advisors, protecting client relationships, and ensuring a smooth transition when ownership changes hands. 

WealthPlanners’ founder and owner Denny Gustin-Piazza will lead the new unit, Cambridge said. 

Specific financial terms of the deal weren’t disclosed. 

“This transition is instrumental in supporting the next phase of our purpose-built growth,” Gustin-Piazza said. “It was important for me to continue to lead a team and drive growth. Cambridge understood our goals and found an approach that allows us to support advisor transitions thoughtfully, provide seamless service to clients, and operate in a business model that fits our culture.” 

In January, Cambridge made a minority investment in Las Vegas-based hybrid RIA The AmeriFlex Group, which was previously affiliated with Osaic Wealth before splitting with the firm last July to join Cambridge.