Fargo, N.D.-based, Great Plains Financial Group has partnered with Securities America for broker-dealer and fee-based RIA services.
Great Plains Financial Group separated from its previous broker-dealer, Investment Centers of America, in order to develop its advisory services, recruitment, and other growth initiatives.
“We wanted to partner with a large, stable firm with strong technology resources and a culture that was a good fit for us,” said Mike Bindas, a founding partner of Great Plains Financial Group. “A key consideration was whether the new affiliation could and would add to our value proposition, and Securities America certainly met that requirement.”
Based out of La Vista, Neb., Securities America was founded in 1984 and ranked as the nation’s seventh largest independent broker-dealer according to 2010 total revenue. The advisory portion of the company, which was started in 1993, manages more than $15 billion in assets.
As part of the agreement, Great Plains Financial Group will continue to operate as an independent advisor, and clients will still be served under the same name. The expectation is that not much will change logistically.
“We are working closely with them to ensure a smooth transition and to provide them with our extensive technology and practice management resources,” said Gregg Johnson, senior vice president of branch office development and acquisitions.
Established in October 2002, Great Plains Financial Group currently oversees $350 million in assets spread among 11 advisors.
Mason Braswell writes for Financial Planning.