Securities America lures back advisory team managing $414M

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.