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Independent broker/dealer Securities America, a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), announced today that Investors Security Company Inc. of Suffolk, Va., will become a branch of Securities America. Investors Security has approximately 130 registered representatives.
“We’re honored that Investors Security is joining the Securities America family, continuing our outstanding 2012 recruiting results,” said Jim Nagengast, CEO and president of Securities America. “We have significant experience working with smaller broker/dealers that want to merge their advisor force into a strong, industry leading broker/dealer. Our branch structure gives us a culture and infrastructure that smaller broker/dealers find attractive when considering their options for the future. With our unmatched technology and business growth services, Investors Security’s advisors can continue to provide the quality, comprehensive financial services their clients have come to associate with the Investors Security name.”
The branch, which will be one of Securities America’s largest, will continue to do business under the Investors Security name. It will be led by Christopher Holloway, who was recently named president and has been a managing director at Investors Security since 1999, and Cabell Birdsong, founder and CEO of Investors Security.
Birdsong said the decision to affiliate with Securities America was based on the company’s strength as an independent broker/dealer. “I am excited to entrust my life’s work to a firm with the sense of family and community like Securities America,” Birdsong said. “I have spent time with the executives from Securities America and Ladenburg Thalmann and have found them to be quality individuals running a strong broker/dealer that is committed to the advisor experience.”
Birdsong founded Investors Security Company in 1964, pioneering the independent broker/dealer model. He managed Old Dominion Investors Trust, Inc. from 1964 until 2004 when the trust merged into another fund complex. He attended the University of Virginia and has held positions on the boards of Paul D. Camp Community College and the Suffolk Center for Cultural Arts. Birdsong was a finalist for the Ernst & Young Entrepreneur of the Year Award in 2002.