Securities America Jumps to Ninth on Financial Planning’s List of Top 50 IBDs
July 06 2017 - 7:00AM
Business Wire
Securities America, a wholly owned subsidiary of Ladenburg
Thalmann Financial Services, Inc. (NYSE MKT: LTS, LTS PrA), jumped
from tenth to ninth on Financial Planning’s recently released list
of the nation’s top 50 independent broker-dealers.
The annual list ranks independent broker-dealers by the previous
year’s total revenue. Securities America finished 2016 with
$536 million in total revenue. Securities America has consistently
ranked in the top 10 for the past 17 years.
Eighty percent of the firms on the list saw an increase in
revenue from fees representing an industry-wide shift away from
commission-based business. At Securities America, assets under
management in advisory business grew 19 percent, and advisory
business grew from 49 percent of gross revenue to 51.2 percent of
gross revenue.
Securities America’s success in 2016 was bolstered by its
acquisition of certain assets of two independent broker-dealers,
Wall Street Financial Group of Fairport, New York, now a branch
known as Evolution Financial Advisors, and Foothill Securities, of
Santa Clara, California. When they were acquired, Wall Street
Financial Group had 67 advisors with approximately $11 million in
annual gross revenue and $2.1 billion in client assets, and
Foothill Securities had 210 advisors with 38 million in revenue and
$5.14 billion in client assets.
In the past nine years, Securities America has developed
industry-leading expertise in transitioning large groups of
advisors. Over that time, it successfully completed nine
transactions, bringing on board more than 1,000 advisors with
approximately $127.8 million in revenue and about $14.9 billion in
client assets.
“To move up in the top 10 in a year that presented so many
challenges in the industry says a lot about our advisors and the
people and processes we have in place,” said Securities America CEO
and President Jim Nagengast. “In 2017, Securities America is poised
to provide our advisors the support they’ll need for continued
growth under the DOL fiduciary rule and other new regulations.”
About Securities America
Securities America is one of the nation’s largest independent
broker-dealers with more than 2,000 independent advisors and nearly
$60 billion in client assets.
Securities offered through Securities America, Inc., member
FINRA/SIPC. Advisory services offered through Securities America
Advisors, Inc., an SEC Registered Investment Advisory Firm.
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version on businesswire.com: http://www.businesswire.com/news/home/20170706005129/en/
Securities AmericaNatalie Hadley402-399-9111 ext.
4606800-747-6111 ext. 4606nhadley@saionline.com
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