Birmingham, Ala.-based advisors Terry Bethea and Larry Angst have decided to return to Securities America after about four years with LPL Financial. The team, which manages $100 million in client assets, left the firm for LPL in August 2011, around the time Ameriprise Financial announced it would sell Securities America to Ladenburg Thalmann Financial Services for $150 million.
Other teams have also returned to Securities America over the years after joining competing firms. Kathy Keadle, who manages $140 million in client assets, left the firm in July 2011 to join Lincoln Financial Securities. But Keadle came back in November 2013. A $3.2 million producer group, Maier & Associates Financial Group, rejoined in September 2013 after leaving in 2007 to go to National Planning Corporation.
Bethea and Angst kept in touch with Clyde Wyatt III, managing director of Navigation Financial Services, an office of supervisory jurisdiction at Securities America. The two have formed Angst and Bethea Wealth Management, which will operate under the OSJ with Wyatt as the branch manager.
“I’ve known Clyde since 1989,” Bethea said, in a statement. “That relationship, as well as a connection with some of the home office employees at Securities America, coupled with the ease of doing business offered through this affiliation were the driving factors in my return.”