Securities America, Diversified Wealth Management Welcome Six Bismarck Advisors
The addition of the Bismarck advisors will expand Diversified Wealth Management to include 20 advisors, eight staff people and seven locations in two states, according to managing partner and OSJ Todd Terhorst. Terhorst anticipates this addition to increase assets under management to the group nearly 33 percent.
"As an advisory consortium, we not only have a broad-based level of knowledge and experience, but different ways we all approach the business," Terhorst said. "Some of us focus on fee-based advice and asset management, some on insurance and traditional financial services, and some on small business planning and 401k plans. We all work together to tap into the expertise needed to best service our clients."
Terhorst began working in the financial services industry in 1993. He founded Diversified Wealth Management in late 2002 and joined Securities America in 2003. In 2004 he became the OSJ and began adding other advisors as partners. Like the Bismarck advisors joining in May, most of the advisors at Diversified Wealth Management were previous co-workers or acquaintances that had worked with Terhorst at previous broker/dealers.
"Having the Bismarck advisors as part of Diversified Wealth Management will add an additional layer of experience and expertise," Terhorst said. "The advisors in this group have an incredible depth of knowledge. Most of the advisors have been in the industry for more than 20 years and have honed their skills and areas of specialty. I have been impressed with their level of professionalism and their primary focus to do whatever is in the best interests of their clients. Their addition to the group and the exposure to the North Dakota market will benefit all the existing partners in years to come."
The transitioning advisors have been together since 1988 and have more than 100 combined years of service. The Bismarck advisors provide services to more than 1,000 clients with more than $200 million in total assets. Advisor Matt Puetz, leading partner of the transitioning Bismarck advisors, said the group chose to join Diversified Wealth Management and Securities America to gain more independence.
"Partnering with Diversified Wealth Management will create a regional financial services firm that will be able to service much of the upper Midwest," Puetz said. "This union will also allow us to draw upon their experience as an independent firm, and the independence offered by Securities America will allow us to better serve our clients through broader product offerings, money managers and superior technology as compared to our current arrangement."Puetz said he and the rest of the Bismarck advisors will bring a wealth of experience and geographic diversity to Diversified Wealth Management.
"We have always taken the team approach to servicing client's needs, so we fit in nicely with Diversified Wealth Management's model," Puetz said. "We are excited about joining forces with both Diversified Wealth Management and Securities America to finally have the independence to allow us to provide unbiased advice and additional services and products to our clients."
The six advisors - Matt Puetz, Farrell Carlson, Douglas Buehler, Robert Johnson, Gary Berube and Larry Souther - officially began business with Securities America and Diversified Wealth Management May 6.
About Securities America
Headquartered in La Vista, Neb., Securities America Inc. is the nation's eighth largest independent broker-dealer (as ranked by Financial Planning magazine, June 2012, based on 2011 total revenue). For more than 25 years, Securities America's mission has been to foster the success of financial professionals so they can provide quality, objective counsel and services to their clients. Advisors benefit from the firm's industry-leading programs in practice management, advisory services and retirement income distribution, supported by state-of-the-art technology. Founded in 1993, Securities America Advisors Inc. is an SEC-Registered Investment Advisory firm that offers investment management, financial advice and financial planning through a national network of independent financial advisors. Securities America Financial Corp. is a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS). Securities America received the inaugural Thought Leadership Award from the Retirement Income Industry Association in March 2011. Additional information is available at www.securitiesamerica.com.