Dr. Phillip Frost, Chairman of Ladenburg, said, “2012 is an important transition year as we further established Ladenburg as one of the leading independent broker-dealer networks and generated a significant increase in revenue and adjusted EBITDA as a result of the Securities America acquisition. After successfully integrating Securities America, we have strengthened conditions there and at our other subsidiaries for strong and sustainable growth through recruiting and disciplined acquisitions.”Richard Lampen, President and Chief Executive Officer of Ladenburg, added, “Ladenburg’s strong performance allowed us to meet our cash debt service obligations, and in the fourth quarter of 2012 we satisfied the conditions for a significant forgiveness of our loan from our primary clearing firm. We have also identified and begun the process of implementing synergies across all of our broker-dealer firms. These synergies arise from the scale associated with our network of approximately 2,700 independent financial advisors with approximately $70 billion of client assets. Importantly, we have done all of this while maintaining strong organic growth and margins at Investacorp and Triad Advisors, and also expanding our capabilities on the investment banking and capital markets side of our business.”
Ladenburg Thalmann Reports Third Quarter Financial Results
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