The hybrid model has proven to be a big winner this year for Triad Advisors, the independent broker-dealer owned by Ladenburg Thalmann Financial Services.

The Atlanta-based IBD, which offers advisory firms both a broker-dealer and a fee-based RIA multi-custodial platform, is now closing in on a record $20 million in new revenues  from recruiting this year; the 16-year-old firm joined Ladenburg Thalmann in 2008.

"We've had as strong a pipeline as we've ever had," says Nathan Stibbs,  Triad's senior vice president of national business development. "We expect the migration to independent RIAs to continue, and I think we're in the fifth inning of that trend. It's one we intend to capitalize on."

Triad now has around $25 billion in assets under management with around 225 firms, Stibbs says.

$130 MILLION ARRIVAL

In its latest deal, Triad signed on Connecticut-based Wealth Management Group of North America, Wealth Management Group, which has assets of approximately $130 million and has offices in Farmington, Conn. and Delray Beach, Fla.

Founded in 1995 by CEO Daniel Friedman, and president and CFO Brian Beck, Wealth Management Group -- the 20th firm to join Triad this year, according to Stibbs -- specializes in working with small business, corporate and dental and specialized medical practices.

Triad is looking for firms with around $1 million in annual revenue and up, Stibbs says. "We want to partner with other entrepreneurial firms who want more flexibility to build their own independent brand and create more enterprise value."

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