Determined to keep its 48-year-old firms small, hometown feel, Investors Security of Suffolk, Va., has decided to drop its own broker-dealer and affiliate with Securities America, a subsidiary of Ladenburg Thalman Financial Services, the nations eighth largest independent broker-dealer.
The deal is one of the largest in the history of Securities America, which appears to have successfully emerged from the troubled period capped by its sale by Ameriprise to Ladenburg last year. And it marks a triumph for a firm, which landed the deal after Investors Security weighed partnering with larger independent B-Ds like LPL Financial and Commonwealth.
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