NEW YORK--(BUSINESS WIRE)--Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS PrA, LTSL, LTSF, LTSK, LTSH), a diversified financial services company, today announced the successful completion of its merger with Advisor Group, Inc. (“Advisor Group”), one of the nation's largest networks of independent wealth management firms.
The expanded Advisor Group will be one of the industry's leading providers of a multi-custodial, multi-clearing model that drives maximum choice and flexibility for financial advisors. The organization will continue to be led by Advisor Group’s current CEO and President, Jamie Price. Ladenburg's firms will not be merged with Advisor Group's firms, reflecting both companies' commitment to a multi-brand network model. In connection with the closing of the transaction, Ladenburg Thalmann common shares have been delisted from the New York Stock Exchange.
Ladenburg Chairman, President and CEO Richard Lampen said, “We are thrilled to complete this transformational merger with Advisor Group, a company with complementary strengths and a shared vision for the future. We believe the transaction will help our financial advisors accelerate the growth of their businesses while continuing to benefit from the highly personalized service experience they have always enjoyed. On behalf of the entire Ladenburg Board and management team, I want to sincerely thank our employees and financial advisors for their tireless work and dedication.”
Jefferies LLC served as financial advisor to Ladenburg and Sullivan & Cromwell LLP served as Ladenburg’s legal counsel.
About Ladenburg Thalmann
Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS PrA, LTSL, LTSF, LTSK, LTSH) is a diversified financial services company based in Miami, Florida. Ladenburg's subsidiaries include industry-leading independent advisory and brokerage (IAB) firms Securities America, Triad Advisors, Securities Service Network, Investacorp and KMS Financial Services, as well as Premier Trust, Ladenburg Thalmann Asset Management, Highland Capital Brokerage, a leading independent life insurance brokerage company and full-service annuity processing and marketing company, and Ladenburg Thalmann & Co. Inc., an investment bank which has been a member of the New York Stock Exchange for over 135 years. The company is committed to investing in the growth of its subsidiaries while respecting and maintaining their individual business identities, cultures, and leadership. For more information, please visit www.ladenburg.com.
