Ladenburg Thalmann to buy Triad Advisors

Ladenburg Thalmann Financial Services Inc. of Miami continues to build its presence in the independent-contractor brokerage industry by making its second acquisition in less than a year.
Ladenburg said this morning it reached an agreement to acquire Triad Advisors Inc. of Norcross, Ga.
If Triad hits certain profit targets, the deal could be worth $42 million in cash and stock.
Triad produced $59.4 million in gross revenue last year, so the firm was valued at about 71% of its sales.
Triad has about 380 affiliated registered reps and advisers and $9 billion in client assets.
Mark Mettelman, Triad’s chief executive and president, and the rest of Triad’s management will continue to operate the firm as a stand-alone business after the close of the deal, which is expected to be by the end of October.
Ladenburg has been busy making deals.
Last October, it acquired Investacorp Inc. of Miami Lakes, Fla., paying 71% of Investacorp’s revenue.
Counted together, Triad and Investacorp have $128 million in gross revenue and 880 affiliated reps, putting them among the top 25 independent firms in the industry, according to the most recent InvestmentNews survey.