LA VISTA, Neb.--(BUSINESS WIRE)--Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), announced the addition of advisors Brad Novak, Mark Bibelheimer, Jeff Grewe, Cindy Fason, Arnie Ellingson, Dave Falk and Holly Gruba of Fargo, N.D., and Jay Caldwell of Bismarck, N.D.
“This group of advisors have an incredible depth of knowledge and experience in the financial services industry. They also come from the same background as many of the existing advisors in our group,” said Todd Terhorst, president and managing partner of Diversified Wealth Management and Securities America branch manager.
Since joining Securities America in 2002 as an independent advisor, Terhorst has built his practice to include 32 advisors and eight staff members. When advisors under his supervision doing business under other practice names are added in, Terhorst’s firm includes 49 total advisors with 13 staff members across four states. The average tenure in the financial services industry for all the advisors in his group is more than 20 years.
“Like the advisors in Bismarck who joined our group in 2011, our newest advisors are skilled professionals who are enjoyable to work with. We feel very fortunate to add these advisors and their staff to our consortium and to call them our partners,” Terhorst said.
The Fargo advisors joined Securities America from AXA, where they had a combined $140 million in client assets. In July, 13 advisors from the Compass Group of Fort Wayne, Ind., also joined Diversified Wealth Management. At their previous broker-dealer, those advisors had $300 million in client assets. Jeff Carlyle and Jeff Green, who had a combined $29 million in client assets, joined Diversified Wealth Management’s Minneapolis, Minn., branch office in October.
“Todd is an great example of how an advisor can become a successful branch manager by taking advantage of the resources we offer at Securities America to help recruit and develop a successful, growing practice,” said Gregg Johnson, executive vice president of Branch Office Development and Acquisitions at Securities America. “We look forward to providing him and his team with the service and the support they need to enjoy continued growth and to reach their goals.”
About Securities America
Securities America is one of the nation’s largest independent broker-dealers with more than 2,000 independent advisors and $60 billion in client assets.
Advisory services offered through Securities America Advisors, Inc., an SEC Registered Investment Advisory Firm. Securities offered through Securities America, Inc., member FINRA/SIPC. Diversified Wealth Management and Securities America are separate, unaffiliated entities.