MIAMI--(BUSINESS WIRE)--Ladenburg Thalmann Financial Services Inc. (NYSE AMEX: LTS) today announced that it is set to join the broad-market Russell 3000(R) Index when Russell Investment Group reconstitutes its comprehensive set of U.S. and global equity indexes on June 25, 2010, according to a preliminary membership list posted on Friday, June 11, 2010, on www.russell.com.
The Russell 3000(R) Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market and is reconstituted annually to ensure new and growing equities are reflected. As a member of the Russell 3000(R) Index, Ladenburg also automatically would be included in the Russell 2000(R) Index, which measures the performance of the small-cap segment of the U.S. equity universe. Russell indices are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies.
Dr. Phillip Frost, Chairman of the Board of Ladenburg commented, "We are pleased with Ladenburg’s inclusion in the Russell indices and the opportunity it provides us to increase our visibility within the investment community.”
Richard Lampen, President and Chief Executive Officer of Ladenburg, added, “Our inclusion in the Russell indices is another reflection of Ladenburg’s positive momentum. We continue to grow both our capital markets and independent brokerage and advisory services businesses, and now have approximately $20 billion in client assets. We believe we are well positioned to capitalize on the many attractive opportunities in the marketplace and increase shareholder value.”
Ladenburg Thalmann Financial Services is engaged in investment banking, equity research, institutional sales and trading, independent brokerage and advisory services and asset management services through its principal subsidiaries, Ladenburg Thalmann & Co. Inc., Investacorp, Inc. and Triad Advisors, Inc. Founded in 1876 and a New York Stock Exchange member since 1879, Ladenburg Thalmann & Co. is a full service investment banking and brokerage firm providing services for companies and high net worth individuals. Investacorp, Inc., a leading independent broker-dealer headquartered in Miami Lakes, Florida, has been serving the independent registered representative community since 1978 and has approximately 450 independent financial advisors nationwide. Founded in 1998, Triad Advisors, Inc. is a leading independent broker-dealer and registered investment advisor headquartered in Norcross, Georgia that offers a broad menu of products, services and total wealth management solutions to approximately 540 independent financial advisors nationwide. Ladenburg Thalmann Financial Services is based in Miami, Florida. Ladenburg Thalmann & Co. is based in New York City, with regional offices in Miami and Boca Raton, Florida; Melville, New York; Lincolnshire, Illinois; Los Angeles, California; and Princeton, New Jersey. For more information or to sign up to receive timely e-mail news alerts from Ladenburg Thalmann Financial Services, please visit www.ladenburg.com/info.
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, statements regarding shareholder value, and statements regarding marketplace opportunities. 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 the Company’s business. These risks, uncertainties and contingencies include those set forth in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2009 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 the Company’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, the Company’s revenue and profits in any particular quarter may not be indicative of future results. The Company 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.