LA VISTA, Neb.--(BUSINESS WIRE)--Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA, LTSL, LTSF, LTSK, LTSH), today announced the successful recruitment of Nittany Brokerage Financial, a multi-service independent financial advisory practice in central Pennsylvania with $182 million in total client assets. The announcement further underscores Securities America’s position as a leading destination for successful independent practices looking to take the next step in their business’ growth trajectory.
Gregg Johnson, Securities America’s executive vice president of branch office development and acquisitions, said, “We are thrilled to onboard a practice with as strong a track record of growth as Nittany Brokerage Financial. Dean, Suzanne and the firm’s other advisors have done a stellar job of growing their business through a consistent and deep-rooted commitment to client service, and we look forward to providing them with the practice management support, technology and flexibility they need to continue growing, along with our expertise in succession planning and practice acquisitions to help them meet their long-term strategic goals. With the resources of Securities America behind them, the sky’s the limit for Nittany Brokerage.”
Founded in 2005, Nittany Brokerage is based in State College, Pa., and includes six advisors. The firm offers a comprehensive range of wealth management and financial planning services to businesses, families and individuals, and serves many clients who are employees of the state (or commonwealth) of Pennsylvania. Nittany also provides complementary services such as customized auto, home, commercial, group health and life insurance solutions.
Nittany Brokerage is led by President Dean Johnson and OSJ Suzanne Johnson, who have built their business on a fundamental belief that everyone deserves advice on financial and life planning. Mr. Johnson noted that their team was impressed by Securities America’s size, stability, and commitment to advisors’ independence, as well as its strong technology platform and the breadth of resources available to advisors affiliated with Ladenburg’s IAB firms.
Dean Johnson, president of Nittany Brokerage Financial, said, “We want this to be our last broker-dealer change, so we were looking for an established partner that has staying power in the industry. We found that in Securities America. We were also blown away by the platform and leading-edge technology Securities America provides to its affiliated advisors. After seeing all that they have to offer, we were convinced that we can count on Securities America and Ladenburg to support our long-term growth.”
Gregg Johnson concluded, “We are in the business of helping practices like Nittany Brokerage flourish. When groups join Securities America, they join a family of like-minded professionals who are solely interested in seeing them succeed. Advisors are the lifeblood of what we do, and we look forward to collaborating with Nittany Brokerage for years to come.”
About Securities America
Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA, LTSL, LTSF, LTSK, LTSH), 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, LTS PrA, LTSL, LTSF, LTSK, LTSH) 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.