Yet another small brokerage firm that sold illiquid alternative investments closed its doors last week
Ten percent have exited to date; rival PrimeVest main beneficiary so far
Firms said to be on short list of acceptable buyers; PE outfit also thought to be lurking about
Silverman leaves on-the-block firm; second defection in June
Securities America Inc. last week took the unusual step of asking its 1,800 reps and advisers to sign a “letter of support” to indicate their intention to remain at the firm — a development that some observers took to mean that a sale of the troubled broker-dealer could be imminent.
Industry veteran ran Merrill Lynch's clearing service for seven years; most recently CEO of Century Securities Associates
Ameriprise Financial Inc. last week put on the block one of the most prominent independent broker-dealers in the industry, its subsidiary Securities America Inc., but no clear buyer has emerged
Another small broker-dealer that sold high-risk private placements is out of business
