Securities America snags $650 million hybrid from LPL

Securities America snags $650 million hybrid from LPL
Patriot Financial Group has 33 advisers operating in Massachusetts, Rhode Island and Connecticut.
SEP 04, 2018
By  Bloomberg

A $650 million hybrid has left LPL Financial to join Securities America, a subsidiary of Ladenburg Thalmann Financial Services Inc. Patriot Financial Group, which is also a super office of supervisory jurisdiction, is led by David O'Donnell, its founder and chairman, and Michael Tashjian, chief executive officer. It has 33 advisers operating in Massachusetts, Rhode Island and Connecticut. "We're a strictly independent and adviser-centric model," Mr. O'Donnell said. "Our platform is based on team-building and supports our advisers; each adviser is independent. But they have the support of a larger group of specialists to call on to strengthen their practices." (More: Ladenburg bets advisers will serve more self-employed clients in the future) Securities America has more than 2,500 independent advisers and managed $86 billion in client assets in 2017, according to its press release.

Latest News

'Bogged down' advisors just want to have fun (again)
'Bogged down' advisors just want to have fun (again)

Jim Cahn, of Wealth Enhancement Group, lifts the lid on his firm's partnership model, his views on RIA M&A, and the widely slept-on reason why advisors are merging into larger organizations.

Vestwell unveils new emergency savings account offering
Vestwell unveils new emergency savings account offering

The fintech firm is cementing its status in the workplace savings space with its latest ESA offering, which employers can integrate into their existing benefits package.

'Money Mimosas' and other ways to show your Valentine financial love
'Money Mimosas' and other ways to show your Valentine financial love

Wealth managers offer unique ideas for couples to grow closer emotionally and financially.

Limra research finds financial confidence on the rise among Black American workers
Limra research finds financial confidence on the rise among Black American workers

Survey findings suggest increased sense of financial security and more optimistic 2025 outlook, while highlighting employers' role in ensuring retirement readiness.

DOGE efforts sideswipe muni bonds backed by federal lease payments
DOGE efforts sideswipe muni bonds backed by federal lease payments

Falling prices for some securities within the $4 trillion state and local government debt market spotlight how the push to shrink spending is sending shockwaves across the US.

SPONSORED Record growth: Interval funds emerge as key players in alternative investments

Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.