Securities America Acquires Dalton Strategic Investment Services
"This business has become increasingly challenging for smaller broker-dealers," said Jim Nagengast, Securities America chief executive officer and president. "We welcome the advisors from Dalton Strategic Investment Services and look forward to helping them grow through our expertise in advisory business, retirement income planning, practice management and technology."
Steve Dalton, who founded Dalton Strategic Investment Services in 1988, said the company intends to wind down operations and that most of its advisors, who collectively generate about $7 million in annual revenue, have moved to Securities America.
"We evaluated 10 other broker-dealers before choosing Securities America as the right partner for our future success," Dalton said. "The cultural fit, technology and practice management support Securities America provides will help us grow our business and develop our advisors, and serve as a strong value proposition for recruiting additional advisors."
Securities America has partnered with several smaller broker-dealers in recent years to help them become super branches with the company. In 2013, Securities America added 30 advisors from Eagle One Investments in Washington, Iowa. In 2012, the company transitioned 140 advisors from Investors Security Company Inc. In 2010, the company transitioned 45 advisors from Equitas and 40 from ePlanning. In 2009, Securities America acquired broker-dealer Brecek & Young Associates from Security Benefit Corp., adding 260 advisors.
"Through our extensive experience in collaborating with small firms, Securities America has developed meticulous processes and automation specifically for creating a smooth transition experience for the advisors," Nagengast said. "Our conversations with smaller BDs have increased, and we are looking for additional opportunities in this space. These firms most often cite compliance costs, technology costs and business development as their reasons to consider joining a larger broker-dealer. Securities America excels in all of these areas, with a customer-focused culture that advisors find familiar and comfortable."
About Securities America
Securities America is one of the nation's largest independent broker-dealers with more than 1,800 independent advisors responsible for $54 billion in client assets.
SOURCE: Securities America
Advisory services offered through Securities America Advisors, Inc., an SEC Registered Investment Advisory Firm. Securities offered through Securities America, Inc., member FINRA/SIPC. Securities America is not affiliated with any other entity named.