Securities America acquires another broker-dealer
Purchase of Wall Street Financial Group is the firm’s ninth and second in as many months
Sep 26, 2016 @ 9:36 am | By Bruce Kelly| Investment News
For the second time in as many months, Securities America Inc. said it was acquiring the assets of another broker-dealer.
Securities America, part of the Ladenburg Thalmann Financial Services Inc. group of broker-dealers, said Monday it was acquiring the 67 advisers of Wall Street Financial Group, a small broker-dealer which opened in 1994. Those advisers produce close to $11 million in annual revenue and have $2.1 billion in client assets, according to the companies.
Last month, Securities America said it was acquiring the assets of a mid-sized broker-dealer, Foothill Securities Inc. with 220 representatives under its roof.