February 06, 2014 | Press Releases
Securities America Supports Soft Landing for Breakaway Wirehouse AdvisorsLA VISTA, Neb. – Feb. 6, 2014 – Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), is proud to announce a new hybrid independent wealth advisory business model in partnership with United Advisors LLC, a privately owned financial services company out of New York.
“This model gives breakaway wirehouse advisors the freedom to operate their own business as they see fit while maintaining the office structures and geography they are used to,” said Gregg Johnson, senior vice president of Branch Office Development and Acquisitions. “This approach eases the transition for advisors moving from a captive environment to the independent sector by giving advisors familiar office space and leadership structures under a unified branch identity, while they can operate and grow their own business on a completely independent platform. Plus, through our parent company, Ladenburg Thalmann, these advisors have access to services they are used to from wirehouse environments, such as investment banking and capital markets products.”
To implement this new model, United Advisors has added Kevin Hughes as a managing partner of United Advisors Private Client Group. Formerly of Morgan Stanley, Hughes was the branch manager of the $2 billion in assets office in Great Neck.
“The addition of Kevin Hughes’ leadership to United Advisors Private Client Group provides a launching pad for our unique wirehouse recruiting model,” said Mark Penske, United Advisors chairman. “The experience, expertise and relationships Kevin brings as the managing partner of UAPCG are the catalyst for this new venture."
Hughes joins United Advisors with more than 21 years of Wall Street experience. Formerly of Smith Barney, Hughes joined Morgan Stanley in June 1998 and was in his 16th year at the combined company where he served as a first vice president, a financial advisor, assistant branch manager, acting branch manager, complex business development officer and branch manager.
“After listening for years to the concerns of fellow financial advisors, we have created this hybrid independent and wirehouse model that allows financial advisors to be properly compensated while placing their clients first, yet avoiding the professional isolation of going it completely alone,” Hughes said. “Advisors will be completely independent but able to network, partner, train and share ideas with other branch advisors while gaining supportive, open access to the dedicated management and resources available from United Advisors, Securities America and Ladenburg Thalmann.”
About Securities America
Securities America is one of the nation’s largest independent broker-dealers with more than 1,700 independent advisors responsible for $50 billion in client assets.
Securities offered through Securities America, Inc., member FINRA/SIPC. Advisory services offered through United Advisors, LLC., an SEC Registered Investment Advisory Firm. United Advisors, LLC is not affiliated with Securities America, Inc.