Ladenburg Thalmann (AMEX: LTS) said its fourth quarter revenue nearly doubled, growing 96 percent to $107.3 million from the year-ago quarter at $54.6 million. The spike was primarily due to the company’s acquisition of Securities America, adding $57.1 million to Ladenburg’s 2011 revenue. ...
Ameriprise Financial’s (NYSE: AMP) fourth quarter 2011 net income dropped about 22 percent to $240 million from $306 million a year ago. The company attributed the fall to volatile markets, increased cash positions, and continued low interest rates. ...
Ladenburg Thalmann (AMEX: LTS) has closed the deal to acquire independent broker/dealer Securities America from Ameriprise Financial (NASDAQ: AMP), which it had announced in August. Registered Rep. was the first to write about Ladenburg as a potential buyer of Securities America. ...
Following Wednesday’s announcement that Ladenburg Thalmann Financial Services (AMEX: LTS) would be buying Securities America, the details of the firm’s retention packages to SAI’s 1,700 reps are still up in the air, but sources say the firm is handing out retention packages on a case-by-case basis, with a higher bonus for those with higher production. ...
Ladenburg Thalmann Financial Services Inc. has agreed to buy Securities America Financial Corp., the troubled independent broker/dealer, from Ameriprise Financial Inc. for at least $150 million in cash, Ladenburg and Ameriprise said this morning. Registered Rep. was the first to write about Ladenburg as a potential buyer of Securities America....
Some advisors have jumped ship from independent broker/dealer Securities America for LPL Financial (NASDAQ: LPLA) following news that parent Ameriprise Financial (NYSE: AMP) would sell SAI. Most recently, a $420 million team in Cornelius, N.C., Cornerstone Financial Partners, which includes four partners, have made the move and formed their own registered investment advisory firm under LPL’s hybrid platform....
During its National Conference in Orlando, Fla., this week, independent broker/dealer Securities America announced its new social media program, which will allow all of its 1,800 reps to access and post content on Facebook, LinkedIn and Twitter in mid-July, said Leia Farmer, deputy chief compliance officer. ...
Securities America will face a federal court judge Friday to decide whether the independent broker/dealer gets preliminary approval for a $21 million settlement agreement related to allegedly fraudulent private placements sold by the company. Firm says FA retention is nevertheless still strong....
Last year was a record recruiting year for some independent broker/dealer firms, as big name financial services firms shed hordes of financial advisors. But that exodus is over, and this year, recruiting is way down. Over the long haul, hiring new talent ...
The dizzying industry turmoil of the last few years has induced wirehouses to offer their top producers some of the largest retention packages ever. It was bound to happen, industry insiders say, as these folks had many more questions than answers about their futures—and those of their firms. Still, the deals aren’t necessarily buying advisor loyalty....
Times are tough for branch managers. And, like many people facing challenges, there’s often much to be gained by the support of your peers (hence, the existence of this newsletter). ...
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