A Rochester, N.Y.-based producer group with more than $200 million in client assets has joined Securities America, Ladenburg Thalmann Financial Services’ largest independent broker/dealer subsidiary, the firm announced today. The group, which includes Meliora Wealth Management and Allied Financial Partners, moves over from Cambridge Investment Research.
The firms have six advisors offering a range of services, including investment management and retirement planning. David Quick, president of Meliora Wealth Management, said the group was attracted to SAI due to the pronounced growth of firms on the platform, Ladenburg's resources and SAI's tech platform.
News of the new affiliation follows the addition of St. Louis-based Syntegra Private Wealth Group by Securities America in late March. Syntegra, which joined the IBD from Ameriprise Financial, included six hybrid investors managing $459 million in client assets.
Meliora Wealth Management and Allied Financial Partners will join Evolution Financial Advisors, a super office of supervisory jurisdiction (OSJ), with client assets totaling more than $2.6 billion. EFA became a super-OSJ after being acquired by Securities America in September 2016.