Securities America Recruits Patriot Financial Group, Boston-Area Hybrid RIA and Super-OSJ With Approximately $650 Million in Client Assets
Aug. 30, 2018
LA VISTA, Neb.--(BUSINESS WIRE)--Aug 30, 2018--Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA, LTSL, LTSF, LTSK), announced today that Patriot Financial Group, an independent hybrid Registered Investment Advisor and Super Office of Supervisory Jurisdiction based in Westborough, Massachusetts with approximately $650 million in total client assets and 33 total financial advisors, has joined Securities America.
Gregg Johnson, Securities America’s executive vice president of branch office development and acquisitions, said, “We are pleased to welcome Patriot Financial Group to Securities America. Their decision to join our platform demonstrates our appeal to practices seeking a stable and transparent relationship with an independent advisory and brokerage partner that is forward-looking in regard to the industry and the needs of advisors. We value the group’s independence and their focus on building teams of experts who specialize in distinct aspects of financial services. We have the platform and expertise to effectively support Patriot Group and their distinctive model, and we’re committed to helping them achieve their growth goals for the future.”
Patriot Financial Group, led by founder and Chairman David O’Donnell and Chief Executive Officer Michael Tashjian, maintains a coverage area that spans Massachusetts, Rhode Island and Connecticut. Specialists provide clients with guidance in their respective areas of expertise — wealth management, retirement planning, and insurance solutions — delivered through a mix of fee- and commission-based service.
Patriot Financial Group provides personal insurance planning and business protection that accounts for key person life insurance, disability, general liability and business continuity insurance. The group, which has a 10-member office staff, also provides advisor support services including succession planning, transition support and team coaching on the vision of the business as well as on individual goals and roles.
Mr. O’Donnell said, “We have taken a very intentional approach to building our firm and our business model, and we are thrilled to find a partner in Securities America who supports our distinctive vision. We’re a strictly independent and advisor-centric model. Our platform is based on team-building and supports our advisors; each advisor is independent, each firm is advisor-owned. But they have the support of a larger group of specialists to call on to strengthen their practices. This approach drives strong growth for our advisors and exceptional service for clients – and we look forward to taking it to the next level with Securities America.”
Mr. Tashjian said, “With Securities America, we have the strength of a well-resourced platform with powerful industry expertise behind us. We support the individual, and Securities America supports us. Whenever we made a request, Securities America quickly responded with a proven process, platform or product. From day one, they have shown us how we will be able to leverage the strength of our partnership to help our representatives grow their businesses.”
Mr. Johnson concluded, “Patriot Financial Group’s hybrid model is advisor-centric in the best possible way. It allows each client to receive the type of service that best fits their needs, which in turn has enabled Patriot to experience strong growth. We anticipate that, with the full infrastructure and resources of Securities America behind it, many more advisors and clients will soon reap those benefits.”
About Securities America Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA, LTSL, LTSF, LTSK), is one of the nation’s largest independent advisory and brokerage firms, with more than 2,500 independent advisors and over $86 billion in client assets as of Dec. 31, 2017.
Securities offered through Securities America, Inc., member FINRA / SIPC. Advisory services offered through Securities America Advisors. Securities America and Ladenburg Thalmann Financial Services Inc. are separate entities from all other entities named.
About Ladenburg Thalmann Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA, LTSL, LTSF, LTSK) is a publicly-traded diversified financial services company based in Miami, Florida. Ladenburg’s subsidiaries include industry-leading independent advisory and brokerage (IAB) firms Securities America, Triad Advisors, Securities Service Network, Investacorp and KMS Financial Services, as well as Premier Trust, Ladenburg Thalmann Asset Management, Highland Capital Brokerage, a leading independent life insurance brokerage company, Ladenburg Thalmann Annuity Insurance Services, a full-service annuity processing and marketing company, and Ladenburg Thalmann & Co. Inc., an investment bank which has been a member of the New York Stock Exchange for over 135 years. The company is committed to investing in the growth of its subsidiaries while respecting and maintaining their individual business identities, cultures, and leadership. For more information, please visit www.ladenburg.com.
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future growth. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of Ladenburg Thalmann's business. These risks, uncertainties and contingencies include those set forth in Ladenburg Thalmann's annual report on Form 10-K for the fiscal year ended December 31, 2017 and other factors detailed from time to time in its other filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Further, investors should keep in mind that Ladenburg Thalmann's quarterly revenue and profits can fluctuate materially depending on many factors, including the number, size and timing of completed offerings and other transactions. Accordingly, Ladenburg Thalmann's revenue and profits in any particular quarter may not be indicative of future results. Ladenburg Thalmann is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise, except as required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180830005148/en/
CONTACT: Haven Tower Group for Securities America
Michael Dugan / Jessica Caris
424-652-6520, ext. 106 or 104
Related Links: https://www.securitiesamerica.com
KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT MASSACHUSETTS NEBRASKA RHODE ISLAND
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE LEGAL
SOURCE: Securities America
Copyright Business Wire 2018.
PUB: 08/30/2018 06:00 AM/DISC: 08/30/2018 06:00 AM