A wild ride: The major changes in the broker-dealer world since July 2008
Aug. 6: Securities America Inc. says it will acquire Brecek & Young Financial Advisors Inc., an independent broker-dealer with more than 300 affiliated reps and more than $1.3 billion in fee-based assets under management. Deal closes Oct. 31.
Aug. 13: Ameriprise Financial Inc. announces it is buying H&R Block Financial Advisors Inc. for $315 million in cash, scooping up more than 900 reps and advisers. Ameriprise also announces the hiring of Donald Froude (above) as head of its U.S. Advisor Group. He was head of U.S. distribution at Legg Mason Inc.