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LPL, Cambridge and others in ‘serious’ talks to buy Foothill Securities

May 13, 2016

“It’s not a lot of fun to be a broker-dealer these days,” says firm chairman John Burroughs

May 10, 2016 @ 11:34 am | By Bruce Kelly | Investment News

Foothill Securities Inc., an adviser-owned independent broker-dealer with 220 registered reps under its roof, is in “serious discussions” to be acquired by a larger firm, according to its chairman, John Burroughs.

Four firms currently in discussion with Foothill include: LPL Financial, Cambridge Investment Research Inc., Securities America Inc. and SagePoint Financial Inc., Mr. Burroughs said.

The discussion of merging Foothill Securities with another firm comes at a time of when the common wisdom in the securities industry is that small- and mid-sized broker-dealers such as Foothill are facing extinction-like pressures.

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
2016 Broker Dealer Educational Summit 2016
May 30, 2016

Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!