Securities America has added 32 advisors with $800 million in client assets.
Advisors Scott Bordelon, Larry Lock and Steven Hollis combined their firms to become a single office of supervisory jurisdiction branch with Securities America. Combined, they now operate as Beam Asset Management, a Louisiana- and Missouri-based independent RIA firm. Together they earned $6.5 million in production before their firms' transitioned from LPL, where they had been registered since 2009, according to their FINRA records.
Bordelon, a 34-year industry veteran, merged his independent RIA, Financial & Investment Management Advisors, with Universal Financial Planning Consultants, owned by Lock and Hollis, to form Beam, according to firm's spokesperson.
We wanted a broker-dealer that had demonstrated its willingness to support a super [office of supervisory jurisdiction] branch structure, to help that branch recruit advisors and to work with an independent RIA, said Bordelon, who is registered with Securities Americas Covington, Louisiana branch. Lock and Hollis are located at St, Louis, MO.
Securities America, a subsidiary of Ladenburg Thalmann Financial Services, with $55 billion in client assets, had picked up an advisor from H.Beck with $115 million in client assets in May.
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