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Ladenburg Thalmann Tag

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Advisor Group’s BD Consolidation a ‘Sign of the Times’

14:44 12 May in In the News by rafferty

May 11, 2020 By Janet Levaux, ThinkAdvisor Industry watchers weigh in on the plan to merge three former Ladenburg Thalmann BDs into Securities America. Advisor Group said Monday that three of the five independent broker-dealers it bought recently from Ladenburg Thalmann will be merged into Securities America, the largest BD in this network. Industry watchers reacted to the news with a bit of a shrug, seeing it as part of the consolidation overall across the advisor landscape. Data compiled by the Financial Industry Regulatory Authority puts the latest BD tally at about 3,500, down from roughly 4,700 a decade ago. “This consolidation in the IBD space is another sign of the times,” said Tim Welsh, head of the consultancy Nexus Strategy. “With zero commissions, cash spreads at micro-levels and market lows, it is an incredibly...

Financial Advisor IQ a Financial Times Service

B-D Recruiters Poised to Scoop Up Unhappy FAs in Mega-Merger Fallout

21:55 14 February in In the News by rafferty

January 20, 2020 By Mrinalini Krishna, Financial Advisor IQ Broker-dealer recruiters are getting set for a big year of advisor movement off the back of last year’s mega-mergers. The last quarter of 2019 rounded up with the announcement of two mega-mergers — Charles Schwab’s acquisition of TD Ameritrade and the Ladenburg Thalmann-Advisor Group deal. At that time, many recruiters considered those announcements opportunities for competitors to lure any unhappy advisors left in the wake of those unions. And some broker-dealer recruitment bosses agree. The Ladenburg Thalmann-Advisor Group deal LPL Financial’s managing director and divisional president of business development Rich Steinmeier is confident of the firm’s chances of nabbing independent advisors, especially in the aftermath of the Ladenburg Thalmann and Advisor Group deal. “Traditionally, when you see a firm change hands, there usually is an increased number...

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Advisor retention under spotlight after Advisor Group-Ladenburg deal

21:18 06 January in In the News by rafferty

January 6, 2020 By Tobias Salinger, Financial Planning When sealing a deal to buy another firm, independent broker-dealers also acquire a fight: Recruiting and retaining advisors from the purchased firm. For the 4,400 advisors affiliated with Ladenburg Thalmann’s five independent broker-dealers, the close of Advisor Group’s deal to acquire the Miami-based firm won’t mean a change. But the Ladenburg firms are combining with Phoenix-based Advisor Group’s four companies into a Brady Bunch of a network, with nine different IBDs and 11,500 advisors. The parties promise it won’t be a rerun of other deals, in which advisors lose their longtime beloved BD partner under a merger into a larger firm. Still, since Advisor Group knows it must somehow form a family after purchasing Ladenburg for $1.3 billion, its IBD rivals will be on the lookout...