Securities America warns of service slowdown as consolidation begins
July 22, 2020 By Bruce Kelly, Investment News Advisers are experiencing "longer than usual wait times," according to a memo Securities America Inc., one of the major broker-dealers in the burgeoning Advisor Group network, on Monday morning warned its advisers of longer than usual times to deal with advisers’ phone calls as it begins a major merger. The notice regarding slowdowns in services comes as the firm is in the process of absorbing 1,200 advisers from Advisor Group’s recent acquisition of Ladenburg Thalmann Financial Services Inc. Snafus in technology or service, irritating and at times infuriating to financial advisers, are common during large broker-dealer mergers. Advisor Group said in May it was going to shut down three of the Ladenburg firms and move those advisers over the summer onto the platform of Securities America, the...