GREAT FALLS, Mont.--(BUSINESS WIRE)--D.A. Davidson & Co., an employee-owned full-service investment firm, today announced it has agreed to merge with SMITH HAYES Companies, a Lincoln, Neb.-based firm who, through its subsidiaries, oversees roughly $4 billion in assets under management. The merger will broaden D.A. Davidson’s strong presence in Nebraska, building on SMITH HAYES’ reputation as a trusted advisor in the region for 30 years. SMITH HAYES will become part of D.A. Davidson’s Individual Investor Group. The transaction, which is subject to customary closing conditions, is expected to be completed in the first half of 2016.
“We are proud to join forces with a firm that has SMITH HAYES’ reputation and track record. SMITH HAYES has grown deep roots in the communities it serves over the course of the last 30 years,” said Jim Kerr, president and chief executive officer of D.A. Davidson & Co. “That commitment, echoed by D.A. Davidson’s 80-year history, makes SMITH HAYES an ideal addition to our Individual Investor Group. We are eager to reach our full potential in Nebraska with greater resources, a consistent brand and a continued commitment to growth.”
SMITH HAYES provides financial advisory services to clients in Lincoln, Omaha and Columbus, complementing D.A. Davidson’s locations in Lincoln and Omaha. Tom Smith, chairman of SMITH HAYES, will become a vice chairman of D.A. Davidson’s Individual Investor Group and join the D.A. Davidson Companies board of directors upon the merger’s completion. John Decker, president and chief executive officer of SMITH HAYES, will be responsible for overseeing all Nebraska operations for D.A. Davidson’s Individual Investor Group, also effective upon deal close.
“As a founder of SMITH HAYES, I am proud that we are joining forces with a firm whose reputation and market leadership so closely aligns with our own,” said Smith. “Our combined teams will undoubtedly provide clients with a broader offering of services, ultimately resulting in an even better experience. I look forward to sharing my industry knowledge with the D.A. Davidson Individual Investor Group team.”
As a result of the SMITH HAYES transaction, the Individual Investor Group’s total assets under management and administration will be nearly $40 billion.
About D.A. Davidson Companies
Employee-owned D.A. Davidson Companies is a financial services holding company offering a range of financial services and products to individual investors, families, businesses and municipalities nationwide. Founded 80 years ago, the company has more than 1,300 employees. D.A. Davidson Companies is headquartered in Montana, with major business hubs also in Denver, Los Angeles, Portland and Seattle.
D.A. Davidson Companies’ largest subsidiary, D.A. Davidson & Co., is the largest full-service investment firm headquartered in the Northwest, and provides wealth management advice and services for investors and offers equity and fixed income capital markets services and advice. D.A. Davidson Companies also operates Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For information, visit www.davidsoncompanies.com or Twitter: @dadavidsonco.
About SMITH HAYES Companies
SMITH HAYES Companies is a financial services holding company and through its two subsidiaries, the firm provides asset management services to institutions, wealth management services to individuals, as well as retirement plan consulting and investment banking services to municipal and corporate clients. Founded in 1985 by Thomas C. Smith and Thomas D. Hayes, SMITH HAYES is an employee-owned firm that serves clients based on five core principles, including partnership, communication, education, solutions and trust.
SMITH HAYES has office locations in Lincoln, Omaha and Columbus. SMITH HAYES Financial Services Corporation (Member FINRA/SIPC), a wholly owned subsidiary of SMITH HAYES Companies, is a full service broker-dealer and is licensed to do business in all 50 states. SMITH HAYES Advisers, Inc. (“SHAI”) is a registered investment adviser, and is a wholly owned subsidiary of SMITH HAYES Companies.
