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Advisor Group Tag

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Securities America loses top executive to Carson Group

16:41 23 October in In the News by rafferty

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...

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1,400 advisors on the move as Advisor Group merges 3 IBDs into Securities America

15:18 18 May in In the News by rafferty

May 15, 2020 By Tobias Salinger, Financial Planning A deal that reshaped the independent broker-dealer sector is realigning thousands of financial advisors in its wake. After two credit downgrades and a pledge by its CEO to fold Ladenburg Thalmann into its structure, Advisor Group is merging three of the IBDs it acquired earlier this year for $1.3 billion into the largest one of the ex-Ladenburg network. By consolidating Investacorp, Securities Service Network and KMS Financial Services into Securities America, the Phoenix-based firm will more quickly deploy technology and other services for the 4,400 financial advisors affiliated with the current crop of five IBDs, CEO Jamie Price said in an interview. Price rejects any connection between the impact of the coronavirus on Advisor Group’s business and the decision to integrate the firms. At the same time,...

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Ex-Ladenburg BDs May Face Culture Clash

15:27 13 May in Articles Written by Jon Henschen by rafferty

May 12, 2020 By Jon Henschen, ThinkAdvisor Layers of questions now come up around fees, compliance policies and back-office services. For advisors at the three midsize broker-dealers formerly owned by Ladenburg Thalmann and now being merged under Advisor Group ownership, what’s most difficult as they look ahead is that their BD ties are relationship-driven, and the BD culture matters to them. Those advisors with KMS Financial Services, Securities Service Network and Investacorp who are largely self-sufficient and don’t use the back office very often may not feel much impact from these changes. But for advisors who use the back office on a regular basis and have easy access to key staffers whom they rely on, their world will be changing greatly. (KMS, SSN and Investacorp will become part of Securities America by year-end, while Triad...