Securities America loses top executive to Carson Group
October 22, 2020
By Bruce Kelly, Investment News
The departure of Kevin Miller, formerly executive vice president, adds to a growing list of high-level employees to leave the firm in recent months
As the Advisor Group network consolidates some of its broker-dealers, Securities America Inc., one of the largest independent-contractor broker-dealers in the industry, is seeing a handful of senior and second-tier employees jump ship.
The most senior executive to leave Securities America is Kevin Miller, formerly executive vice president and general counsel. After more than 20 years at Securities America, he is now working at the Carson Group, according to Ron Carson, CEO and founder of the $13 billion network of advisory firms. The exact timing of his departure was not clear.
Advisor Group said in May it was shutting down three of the broker-dealers that were part of its acquisition of Ladenburg Thalmann Financial Services Inc. earlier this year and moving their advisers onto the platform of Securities America. And last month, Advisor Group confirmed that it had offered jobs to about half of the close to 70 back office employees at one of those firms, Securities Service Network, raising questions about the future of other employees.
Executives in such broker-dealer roll-ups routinely see their responsibilities lessened and look for opportunities elsewhere, noted Jon Henschen, an industry recruiter. “When you become part of a very large firm, your duties become siloed to narrower and narrower functions.”
Christina Heller, now the senior associate counsel at Carson Group, left Securities America in September. Meanwhile, two other former Securities America executives are now working at Ameritas Investment Co.
Brian Strasser, second vice president of transitions at Ameritas, was formerly vice president of branch office support and development at Securities America. He changed jobs in August. And Matthew Kinsella, formerly director of wealth management and product management at Securities America, moved to Ameritas at the start of October.
“Following our acquisition of Ladenburg Thalmann, we have successfully aligned Securities America into Advisor Group’s shared services structure,” said company spokesperson Joseph Kuo. “We do not publicly comment on the details of any employee departures.”
