Securities America announced Tuesday that 30 advisors from Eagle One Investments in Washington, Iowa, have joined with the independent broker-dealer.
The group represents approximately $4.5 million in annual revenue.
Jim Nagengast, the CEO and president of Securities America, said this is the second small broker-dealer transition his La Vista, Neb., based company has completedin the past 30 days.
“All parties are seeing a win-win outcome from our experience in completing these transactions combined with the resources we bring to a successful transition and an industry-leading value proposition for future growth and success," Nagengast said.
Eagle One was founded in 1998 as a representative-owned broker-dealer. It has advisors in Iowa, Nebraska, North Dakota, Minnesota, California, Michigan, Wisconsin and Illinois. Dave Paulson, the company's CEO, said the company intends to wind down operations and that most of its advisors have moved to Securities America.
“Our advisors have enjoyed the culture and camaraderie at Eagle One,” he said. “Finding that same Midwestern-values culture at Securities America, along with the cutting-edge technology and focus on business growth, gave our advisors a great deal of comfort and confidence."
Securities America, a unit of Ladenburg Thalmann Financial Services, is the nation’s eighth largest independent broker-dealer.