Securities America lures back advisory team managing $414M

The Michigan-based team rejoins the firm after six years away

By Trevor Hunnicutt

Sep 24, 2013 @ 12:11 pm (Updated 3:13 pm) EST

Securities America Inc. has lured a financial advisory team with $414 million in client assets back to the firm after six years away.

The Bay City, Mich.-based team, Maier & Associates Financial Group Inc., includes its founder, Wayne Maier, five other advisers and five staff members. The firm generates $32 million in revenue each year.

Mr. Maier started the firm in 1984. His team initially joined Securities America in 2002 before leaving in 2007 to join the National Planning Corp, a competing broker-dealer. A spokeswoman for National Planning did not immediately respond to a request for comment.

Securities America, an independent broker-dealer based in La Vista, Neb., is a subsidiary of Ladenburg Thalmann Financial Services Inc.

  @IN Wire

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