Securities America enters hybrid advisory arena

Firm teams with RIA United Advisors and former Morgan Stanley executive

By Carl O'Donnell

Feb 6, 2014 @ 2:33 pm (Updated 3:29 pm) EST

Securities America, Morgan Stanley, hybrid brokers

Securities America Inc. and registered investment adviser United Advisors Wealth Management are teaming up with former Morgan Stanley vice president Kevin Hughes in an initiative to adopt the increasingly popular hybrid wealth advisory business model.

The new business model will allow financial advisers to serve clients as independent RIAs while maintaining a relationship with a broker-dealer, including access to office space as well as investment products and services.

“We’re incorporating all the benefits of the independent space where a rep or adviser owns his or her client, doesn’t have proprietary product pressures and isn’t forced to do business with a certain criteria or clients, and we’re blending that with an office space and some management involvement,” said Gregg Johnson, senior vice president of branch office development and acquisitions for Securities America.

Mr. Hughes, who has more than 20 years of experience on Wall Street, will spearhead the transition. Prior to his stint at Morgan Stanley, he worked at Smith Barney.

Securities America is the 11th-largest broker-dealer in the country, with annual revenue of $400 million, InvestmentNews data show.

  @IN Wire

Apr 20 10:34PM
MT @ariweinberg: Fund managers fret as Facebook pushes into financial services http://t.co/6CZ1EVRWV8 via @FT
Apr 20 09:04PM
Bankrupt City Fighting to Open a Crack in California?s Pension Agency, via @nytimes http://t.co/GJOk9Dlng9

Career Center

Explore your opportunities and be informed for your next move.

Company Type
Firm Type
Clearing Firm
Presented by

Most Watched Video

7:12The 2 biggest factors driving growth in active ETFs

Ugo W. Egbunike Dir. Of Business Development, ETF.com Greg Crawford Deputy Editor, InvestmentNews

Video Spotlight
1:47People are Living Longer. Good News or Bad News?

Sponsored by Oppenheimer Funds Inc.