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In the News

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Controversial adviser Ed Butowsky launches broker-dealer aimed at smaller breakaways

17:04 08 November in In the News by rafferty

November 7, 2019 By Jeff Benjamin, Investment News Rolling out the red carpet for wirehouse reps managing $75 million to $200 million While much of the financial services industry has become fixated on building scale through record-level acquisitions of registered investment advisers, Texas-based RIA Ed Butowsky is going against the grain by launching a broker-dealer aimed at recruiting smaller wirehouse reps. Mr. Butowsky is targeting brokers with books of business from $75 million to $200 million. "I don't want those multimillion-dollar producers that think they have it all figured out," he said. "My guys will be ninja brokers because I will train them right." Plano, Texas-based Chapwood Securities is affiliated with Mr. Butowsky's $200 million RIA Chapwood Capital Investment Management and is designed specifically for hybrid advisers who work with clients on both commission- and fee-based...

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Advisor Group, Cetera Financial seen as potential buyers of Ladenburg Thalmann

16:18 03 November in In the News by rafferty

November 1, 2019 By Bruce Kelly, Investment News Ladenburg should command a price of at least $1 billion, based on its enterprise value Advisor Group and Cetera Financial Group, along with a private-equity investor, are the likely buyers of Ladenburg Thalmann Financial Services Inc., according to several industry sources, with the value of the brokerage network and its 4,400 financial advisers estimated to be at least $1 billion. Ladenburg Thalmann is currently working with an adviser to weigh potential offers. Bloomberg News reported Friday afternoon that Ladenburg is in talks with Advisor Group, citing "people familiar with the matter." Several industry executives pointed to Advisor Group and Cetera Financial as good fits for Ladenburg Thalmann's network of five independent broker-dealers. Advisor Group and Cetera operate similar businesses with stand-alone broker-dealers that use multiple clearing firms for...

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Ladenburg Thalmann Exploring Sale: Report

18:13 01 November in In the News by rafferty

October 30, 2019 By Janet Levaux, ThinkAdvisor Ladenburg Thalmann, which owns a group of independent broker-dealers with about 4,500 advisors, is considering its ownership options, according to Bloomberg News. The firm’s IBDs are Securities America, Triad Advisors, Investacorp, Securities Service Network and KMS Financial Services. “As a matter of corporate policy, we don’t comment on market rumors or speculation,” CEO Richard Lampen said in an email to Ladenburg’s affiliated advisors. “Everyone at Ladenburg remains focused on running the business and continuing to serve your needs,” Lampen said. “If you are asked about this news by your clients, you can assure them that it is business as usual.” He said the firm’s financial performance had been strong. What options could be on the table for Ladenburg? A member of the investment banking community told ThinkAdvisor that the sale...