Author: rafferty

Ladenburg Thalmann to Acquire KMS Financial Services

August 11, 2014

By Emily Zulz, ThinkAdvisor

Newest deal to add more than $14 billion in client assets, nearly 325 independent financial advisors, $84 million in revenue

Ladenburg Thalmann Financial Services Inc. (LTS) continues to grow its network of independent brokerage and advisory firms with its latest acquisition of KMS Financial Services Inc., a Seattle-based independent broker-dealer and investment advisor.

Ladenburg announced on Monday that it had signed a definitive agreement to acquire KMS, which brings with it nearly 325 independent financial advisors with more than $14 billion in client assets and revenues of approximately $84 million for the 12 months ended June 30. The deal is expected to close later this year.

Consolidation 2014: Ladenburg to Buy KMS Financial for $24 Million

August 11, 2014

By Diana Britton, Wealth Management.com

Ladenburg Thalmann (NYSE MKT: LTS) said it would acquire KMS Financial Services, a Seattle-based independent broker/dealer with about 325 advisors and $14 billion in assets, for $24 million in cash and stock. After the purchase, Ladenburg will have 3,500 advisors with $110 billion in client assets, and $1 billion in revenue across the firm. As of 1 p.m. eastern time, Ladenburg’s stock was up 5.8 percent.

Ladenburg has agreed to pay $11 million in cash, $8 million in four-year notes and about 1.4 million shares of company stock.

“Any time there’s some kind of a change, sometimes there’s the trepidation over creation of a lot of disequilibrium,

The Ten to Watch 2015: Errin Ford

August 8, 2014

By Diana Britton, Wealth Management.com

The Successor

Name: Erinn Ford

Age: 44

Position: President, Cetera Advisors

Location: Seattle; Denver

Education: B.A., University of Washington; Series 7, 24, 65, 63

In early 2012, independent broker/dealer Pacific West Securities was hit with a $2.1 million arbitration award over sales of tenant-in-common (TIC) real estate investments—a situation where more than one entity owns a piece of property. The firm, already struggling with thinning profits, decided it was time to close its doors and move its reps (240 at the time) to Cetera Advisors. Erinn Ford, then Pacific West’s chief operating officer and head of marketing, handled the situation gracefully,