Ladenburg Thalmann Sends Annual Letter To Shareholders

Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS) (“Ladenburg” or the "Company”) today announced that the Company sent the following annual letter to its shareholders from the Chairman of the Board, Dr. Phillip Frost, and the Company’s President & Chief Executive Officer, Richard J. Lampen:

Dear Shareholder:

In 2011, Ladenburg Thalmann made significant strides to build and strengthen the firm in our core focus areas of the independent brokerage and advisory business and investment banking. Our strategy is designed to take advantage of our leadership position in the expanding independent broker-dealer business as well as to position us for growth in the lucrative, but less predictable, capital markets and investment banking arena.

With baby boomers retiring and more individuals taking control of their investment portfolios than ever before, it's clear that there are substantial growth opportunities in the independent brokerage and advisory channel. By adding three major independent brands to Ladenburg's portfolio in the past five years – Triad, Investacorp and, most recently, Securities America – we have become a leader in this timely business. In investment banking, we have added new talent and directed our resources to the best sector and product opportunities.

2011 Overview

Some highlights from 2011 and the first half of 2012 include:

• Increasing full year 2011 revenues by 41% from the acquisition of Securities America, Inc., the continued growth of our other independent brokerage and advisory businesses, and higher investment banking activity in yield-based equity offerings, PIPEs and underwritten public offerings.
• Generating EBITDA growth in 2011 of approximately 311% over 2010.
• Expanding our robust network to include approximately 2,700 independent financial advisors with approximately $70 billion in total client assets.
• Broadening the technological, professional and other support we provide for our enviable team of independent advisors, including offering an attractive suite of wealth management products to our advisors, including trust services.
• Becoming an advocate for the independent brokerage advisory business in Washington, D.C. by having our three independent subsidiaries and their affiliated independent financial advisors become active members of the Financial Services Institute.
• Making well deserved appointments to senior leadership positions at key parts of the organization including the appointment of Adam Malamed as our Chief Operating Officer and Peter Blum and David Rosenberg as co-CEOs of our Ladenburg Thalmann broker-dealer. In addition, adding senior industry specialists in dynamic sectors for investment banking such as energy and healthcare.
• Bolstering our institutional equity business at our Ladenburg Thalmann broker-dealer subsidiary with the addition of a talented team of traders and salespeople.
• Participating in 73 offerings during 2011, which raised approximately $9.6 billion for clients in healthcare, biotechnology, energy and other industries.
• Surpassing $1 billion in assets under management at Ladenburg Thalmann Asset Management, our internal wealth management division that serves as a money manager for retail and institutional clients, while also filling an important role in supporting organic growth from our independent advisors.

Independent Brokerage Business

The increased appetite for unbiased financial advice provided by independent financial advisors has been an instrumental factor in the development of our overall strategic plan. As the U.S. population continues to age, with approximately 10,000 new retirees each day, and market participants move away from the traditional wirehouse model, we believe that top quality independent broker-dealers are well positioned for sustainable growth over the next decade.

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