sidebar

Connect: 319-210-7700

archive

Ladenburg Thalman Tag

Financial Planning logo

Ladenburg not dependent on ex-chairman’s capital for growth, CEO says

16:01 02 October in In the News by rafferty

October 1, 2018 By Tobias Salinger, Financial Planning The SEC charges against Ladenburg Thalmann’s primary shareholder will not affect access to capital for its 4,300-advisor independent broker-dealer network, CEO Dick Lampen says. Phillip Frost retired from the Miami-based firm’s board on Sept. 20, two weeks after the SEC accused him of involvement with a $27 million pump-and-dump scheme. In addition to the network of five IBDs, Ladenburg’s subsidiaries also include its 139-year old investment bank, an asset management unit, an insurance brokerage and a trust division. The company’s various entities hold $250 million in cash with a book value above $390 million, Lampen noted in a statement. Ladenburg is “very pleased about how well-positioned our company is today for continued industry leadership,” he said, noting it also has $600 million “in permanent capital and long-term...