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Cambridge Investment Research, Inc. Legal Internship in Fairfield, Iowa

For the last 12 years, Cambridge has recruited highly talented interns from across the country to join us during the summer for a 10-12 week internship. Each year, 25-30 interns join us for a full-time, paid internship experience at our home offices in Fairfield, Iowa and Phoenix, Arizona. The Next Step internship program gives students practical insight into the financial services industry. Students are partnered with a professional mentor, supervisor, and executive champion and participate in trainings on industry basics and trends, along with professional development courses and opportunities to job shadow other departments across Cambridge. At the conclusion of the internship, each intern will have the opportunity to present on their experience and a specific project of their choice.


  • Competitive pay

  • Away time: Interns will receive 16 hours of away time at the beginning of employment

  • Volunteer time: Each intern will be allowed up to eight hours of paid time off for the summer to volunteer for activities that support community events and activities.

  • Holiday pay: Memorial Day and Independence Day

  • Housing assistance: Interns located in the Fairfield office needing housing assistance will be offered the option to utilize a local university’s apartment facilities at a small expense.

  • Educational courses: Interns get to participate in educational training put on by our Associate Training and Development team. Courses consist of career workshops, problem solving, proper work etiquette, and financial services industry basics.

  • Social events: Interns have the option to participate in local social events with other interns and home office associates.

  • Networking events: Interns have the opportunity to network with our top executives during the Welcome and End of Summer Banquets. Interns will get the chance to learn from our top leaders and ask questions. Interns also have the ability to do job shadows with other teams at Cambridge. Upon the completion of the internship program, interns will also have access to the Next Step Intern Alumni LinkedIn Group to stay in touch with Cambridge and other interns that have gone through the program.

  • Opportunity to discuss continued employment with Cambridge on a part-time or full-time basis at the conclusion of the internship

Cambridge’s Legal team is responsible for protecting the firm, our financial professionals, and their clients by resolving problems and mitigating risk through offering guidance, support, and white glove customer service. This team handles contract negotiation and review, arbitration and litigation, and evaluates risk. The intern will have the unique opportunity to experience what it would be like to work as in-house, corporate counsel in a traditional legal role with the added layer of experiencing what it would be like to utilize their law degree in the context of compliance and risk work, a non-traditional role. The intern will be exposed to several areas of practice, including but not limited to securities law, contract law, employment law, and corporate governance as well as risk and compliance work.

We have three Legal Internship openings located in the Fairfield, IA office.

As the Legal Intern, you will:

  • Work with both the legal and risk departments on a wide range of projects

  • Participate in projects that include research and analysis of state and federal laws and self-regulatory organization rules

  • Drafting legal documents such as letters, reports, memorandums, presentations, and basic contracts

  • Perform data analysis and review

  • Conduct risk assessments and testing

  • Interact with other departments to focus on core projects and to help complete tasks, resolve issues, and improve processes and procedures related to legal and risk

  • Report to a supervising attorney that will assist with projects and facilitate networking opportunities

Candidates must be enrolled in an ABA accredited law school and must have completed one year (or more) at the time the internship begins. Ideal candidates will also have a background and/or interest in the financial industry, compliance, regulation, risk assessment, due diligence, securities law, corporate law, contract law, and/or employment law. Experience utilizing legal research tools such as Westlaw or Lexis Nexis is preferred.

Compensation:$19-$23 per hour. This range is a good faith estimate of the compensation to be offered for this position based on the ideal candidate’s qualifications, the Company’s operational needs, and other considerations permitted by law. The actual pay offered to a specific candidate may vary above or below the stated range.

About Us:

Cambridge Investment Research Inc. is one of the nation’s top independent broker-dealers. We serve independent financial professionals and their clients as they work to grow their wealth and plan for their future goals. We are a company of over 900 associates with offices in Fairfield, IA and Phoenix, AZ.

At Cambridge, our purpose is to make a difference in the lives of our financial professionals, their investing clients, and our associates. Our values of integrity, commitment, flexibility, and kindness continue to guide us in the decisions we make together every day. For 40 years we’ve delivered innovative financial solutions while offering exciting career opportunities with ongoing professional development.

A national leader as a financial solutions firm, Cambridge’s commitment to long-term professional development in a unique small-town community makes this a one-of-a-kind opportunity. Cambridge has been honored 11 times by our associates as a ‘Top Workplace in Iowa’, and 13 times as ‘Broker-dealer of the Year’ by our financial professionals through Investment Advisor magazine. We are recognized among the leading firms in the financial advice industry as we serve over 3,700 independent financial professionals and hundreds of thousands of their investing clients across the country.

Job ID: 2022-2142

External Company Name: Cambridge Investment Research, Inc.

External Company URL:

Telecommute: No