Securities America, a subsidiary of Ladenburg Thalmann Financial
Services Inc. (NYSE MKT: LTS), has announced that Dalton Strategic
Investment Services Inc. in Knightstown, Ind., has become a branch of
the independent broker-dealer. Dalton Strategic Investment Services has
approximately 60 advisors in 18 states and $950 million in client assets.
“This business has become increasingly challenging for smaller
broker-dealers,” said Jim Nagengast, Securities America chief executive
officer and president. “We welcome the advisors from Dalton Strategic
Investment Services and look forward to helping them grow through our
expertise in advisory business, retirement income planning, practice
management and technology.”
Steve Dalton, who founded Dalton Strategic Investment Services in 1988,
said the company intends to wind down operations and that most of its
advisors, who collectively generate about $7 million in annual revenue,
have moved to Securities America.
“We evaluated 10 other broker-dealers before choosing Securities America
as the right partner for our future success,” Dalton said. “The cultural
fit, technology and practice management support Securities America
provides will help us grow our business and develop our advisors, and
serve as a strong value proposition for recruiting additional advisors.”
Securities America has partnered with several smaller broker-dealers in
recent years to help them become super branches with the company. In
2013, Securities America added 30 advisors from Eagle One Investments in
Washington, Iowa. In 2012, the company transitioned 140 advisors from
Investors Security Company Inc. In 2010, the company transitioned 45
advisors from Equitas and 40 from ePlanning. In 2009, Securities America
acquired broker-dealer Brecek & Young Associates from Security Benefit
Corp., adding 260 advisors.
“Through our extensive experience in collaborating with small firms,
Securities America has developed meticulous processes and automation
specifically for creating a smooth transition experience for the
advisors,” Nagengast said. “Our conversations with smaller BDs have
increased, and we are looking for additional opportunities in this
space. These firms most often cite compliance costs, technology costs
and business development as their reasons to consider joining a larger
broker-dealer. Securities America excels in all of these areas, with a
customer-focused culture that advisors find familiar and comfortable.”
About Securities America
Securities
America is one of the nation’s largest independent broker-dealers
with more than 1,800 independent advisors responsible for $54 billion in
client assets.
Advisory services offered through Securities America Advisors, Inc., an
SEC Registered Investment Advisory Firm. Securities offered through
Securities America, Inc., member FINRA/SIPC. Securities America is not
affiliated with any other entity named.
Copyright Business Wire 2014