Ladenburg Thalmann Financial Services Inc. (AMEX: LTS) (“Ladenburg”) today announced that it has completed its previously-announced acquisition of Securities America Financial Corporation and its subsidiaries (“Securities America”), an independent broker-dealer and investment advisor with a broad nationwide presence.
“We are thrilled to complete this transformational acquisition of Securities America which provides Ladenburg with a leadership position in the attractive independent brokerage and advisory area to complement our growing and profitable investment banking business,” said Dr. Phillip Frost, Chairman of the Board of Ladenburg. “Ladenburg is committed to building the best platform for independent advisors to grow their practices and we believe we now have the scale and resources to do so. We are excited about the opportunities to drive strong organic growth and recruiting in our brokerage firms: Securities America, Triad Advisors, Investacorp and Ladenburg Thalmann & Co.”
Richard Lampen, President and Chief Executive Officer of Ladenburg, stated, “The addition of Securities America triples our existing revenue base and well positions Ladenburg to capitalize on the appealing demographic and other growth trends of the independent brokerage channel. We’ve had tremendous success retaining an extremely high percentage of advisors at Securities America, which will continue to operate on a truly independent basis under the leadership of Jim Nagengast and his talented team, a formula that has worked well for us with Triad and Investacorp. We look forward to working to leverage Securities America’s industry-leading technology, risk management and practice development/management across our entire broker-dealer platform and we believe that Securities America advisors will benefit from access to additional products and services that can help them build their practices. Ladenburg’s robust network now includes approximately 2,700 independent financial advisors with approximately $70 billion in total client assets, further establishing our leadership position in this industry.”
Mr. Nagengast said, “Securities America is delighted to join Ladenburg and its talented team of employees and financial advisors and we are very excited about our future prospects. With a shared goal of enhancing the ability of our financial advisors to serve their clients and grow their businesses, I am confident that Securities America and Ladenburg are an ideal fit.”
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