LA VISTA, Neb.--(BUSINESS WIRE)--Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTSL, LTS PrA, LTSF, LTSK), announced today that it has successfully recruited three advisory practices with client assets totaling approximately $245 million.
The three groups are:
- Miller & Hurt Wealth Advisors, a two-advisor practice in Rockledge, Fla., with total client assets of $110 million;
- Hill & Associates, a three-advisor practice based in Lincoln, Neb., with total client assets of $82 million; and
- Duprez Financial, a two-advisor practice in Myrtle Beach, S.C., with total client assets of $53 million.
Gregg Johnson, Securities America’s executive vice president of branch office development and acquisitions, said, “We are excited to be able to grow the Securities America family by adding Hill & Associates, Miller & Hurt Wealth Advisors and Duprez Financial. Each of these practices has been built by hardworking, service-focused advisors that were seeking the cutting-edge technology and practice management expertise that define the Securities America platform and the resources available to advisors at Ladenburg’s IAB firms. We stand ready to help these three firms grow to the next level.”
Stephen Hill, founder and president of Hill & Associates, said, “We appreciated that the team at Securities America is focused on providing the best service and technology in the industry. Even more than that, we were very impressed that they are real people who care about making our experience and that of our clients the best one possible, and they back that up through their friendly, open-door culture.”
Richard Miller and Tony Hurt of Miller & Hurt said, “We believe in building longstanding relationships through mutual respect and appreciation, and our practice is built around helping our clients achieve their objectives, not around products or transactions. We joined Securities America because their team cares deeply about these things, too. Moreover, the company’s technology and culture will allow us to maintain our independence while continuing to advocate for our clients in the best way possible.”
Michael Duprez, founder of Duprez Financial, said, “We are passionate about the quality of the service we provide our clients, and it was very important that our IAB partner feel the same way. In affiliating with Securities America, we are joining an organization that has built a strong foundation that will help us do our best work for our clients, and help drive the long-term success of our firm.”
Mr. Johnson concluded, “Helping strong independent advisory practices flourish is the lifeblood of our business. The advisors we serve are an indispensable part of the tight-knit culture we have created at Securities America. In the end, people are what make any organization great, and we look forward to collaborating with these three firms in their future development and growth.”
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 2,600 independent advisors and more than $94 billion in client assets as of Mar. 31, 2019.
Securities offered through Securities America, Inc., member FINRA / SIPC. Advisory Services offered through Securities America Advisors, Inc. 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, LTSL, LTS PrA, 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 and 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, 2018 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.