In an effort to expand its independent broker-dealer arm, Ladenburg Thalmann Financial Services Inc. has hired a team that had worked for AXA Advisors LLC.

The Miami-based company announced Tuesday that it hired Steven Allison, David Cummings, Doyle Walters, Thomas Skutca and Dayle Scheinman to work for its Investacorp Inc. independent broker-dealer subsidiary as financial advisors. Allison, Cummings and Walters are the three senior principals of S.R. Allison Ltd., formerly affiliated with AXA Advisors, and will provide wealth management services from their office location in Ft. Worth, Texas.

Allison, who has been in the financial services industry since 1988, and his team provide wealth management solutions to high-net-worth individuals, corporate executives, business owners and their employees. S.R. Allison Ltd. has a focus on the employees stock ownership plan marketplace, and developed a turnkey approach to 401(k) administration called TrueFreedom401k.

Investacorp offers investment products and services through 475 independent financial advisors nationally. Allison’s team specializes in 401(k) planning and wealth management.

Ladenburg Thalmann provides investment banking, equity research, institutional sales and trading, independent brokerage and advisory services and asset management services through its principal subsidiaries, Ladenburg Thalmann & Co. Inc., Investacorp, Inc. and Triad Advisors Inc. Ladenburg Thalmann & Co., which is based in New York City, is a full service investment banking and brokerage firm.

Ladenburg Thalman, including Investacorp and Triad Advisors, has approximately 1,000 advisors, with approximately $20 billion in client assets under management. Investacorp has approximately $7.5 billion in client assets under management.