Meredith Whitney buys a broker-dealer

Meredith Whitney Advisory Group LLC has announced that it has wrapped up its purchase of Seegal Benson Leucadia Securities LLC, a New York-based broker dealer.
AUG 14, 2009
Meredith Whitney Advisory Group LLC has announced that it has wrapped up its purchase of Seegal Benson Leucadia Securities LLC, a New York-based broker dealer. The unit, which has been renamed Meredith Whitney Securities LLC, will provide financial advisory and research services initially. But Ms. Whitney, chief executive, also plans to apply to the Financial Industry Regulatory Authority Inc. of Washington and New York to expand its services, the New York firm said in a statement. The additional services will include sales and trading, syndicate participation and other broker-dealer activities. “This acquisition will broaden the scope of our services and capabilities to our clients greatly, and we look forward to this new addition to the platform,” Ms. Whitney said in the statement. Founded in February 2009, the former Meredith Whitney Advisory Group is an investment research firm covering a range of financial companies.

Latest News

Why fixed income still belongs in your clients' portfolios
Why fixed income still belongs in your clients' portfolios

In an era of AI euphoria and market FOMO, getting back to basics with fixed income may be the most contrarian and most important move advisors can make.

Voya expands advisor managed accounts to add private market assets
Voya expands advisor managed accounts to add private market assets

Voya Financial adds private equity, credit and real estate options to its AMA program, building on support for looser federal investment rules in retirement accounts.

With executives leaving, Osaic’s Reid now in the spotlight
With executives leaving, Osaic’s Reid now in the spotlight

Shannon Reid, president of Osaic and the network’s number two executive, has plenty of challenges, industry executives said.

Investors sue crypto fund and platform, alleging $1.5 million never returned
Investors sue crypto fund and platform, alleging $1.5 million never returned

Auditors flagged the commingling. The COO allegedly knew. Investors kept getting the pitch

Wells Fargo nabs $1.7B RBC advisor team, loses two teams to LPL
Wells Fargo nabs $1.7B RBC advisor team, loses two teams to LPL

The advisors on the move include two brothers leading a family practice in Connecticut, and a husband-and-wife tandem working with business owners in the West Coast.

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.