Securities America buying Dalton Strategic Investment Services
July 8, 2014By Bruce Kelly, Investment News Trend of small and midsize broker-dealer mergers and acquisitions continues to build The market for broker-dealer mergers and acquisitions continues to heat up as Securities America Inc. said Tuesday it was acquiring Dalton Strategic Investment Services Inc., a small firm with 60 representatives and advisers. Located in Knightstown, Ind., Dalton will become a branch of Securities America. Securities America is buying the assets of Dalton, namely its reps, but terms of the asset purchase were not disclosed. Securities America's announcement to purchase Dalton's assets comes one day after LPL Financial said it was buying the assets of Financial Telesis Inc., a midsize broker-dealer with 203 advisers who focus on retirement planning. Dalton Strategic Investment Services posted $4.4 million in total revenue last year and net income of $420,000, according to the annual audited financial statement filed...