Nebraska-based Securities America, the independent broker/dealer owned by Ladenburg Thalmann, has acquired Wall Street Financial Group, a small IBD based in Fairport, N.Y. The deal comes on the heels of the firm’s purchase of Foothill Securities, another small IBD in Santa Clara, Calif., in August.
The acquisition adds 67 advisors, $2.1 billion in client assets and approximately $11 million in revenue to Securities America. Wall Street Financial Group will operate as a super office of supervisory jurisdiction (OSJ) under the name Evolution Financial Advisors. The branch will be led by President and CEO Victoria Bach-Fink and Vice President D. Robert Anderson.
This is Securities America’s ninth acquisition in the past eight years; over that period, the firm has transitioned more than 1,000 advisors, $127.8 million in revenue and about $14.9 billion in client assets to its platform.
“Our proven, sophisticated, multi-departmental approach to the acquisition process, along with our industry thought leadership pertaining to the DOL rule and its impacts, have made us a desirable business partner for firms such as WSFG,” Gregg Johnson, Securities America executive vice president of branch office development and acquisitions, said in a statement.