An Illinois-based hybrid registered investment advisor firm will join with Triad Advisors, an advisory and brokerage firm, as well as a subsidiary of Ladenburg Thalmann Financial Services. Mooney Lyons Financial Advisors has $320 million in managed assets with four advisors.
“Mooney Lyons is just the kind of practice that thrives on our hybrid solutions platform – entrepreneurial, with an eye towards growing to the next level through selective recruitment of independent advisors,” Triad Executive Vice President and Chief Strategy Office Nathan Stibbs said about the acquisition. “Our aim is to help them elevate their marketing and recruitment strategy, while also empowering their growth with our technology and practice management support services.”
Triad is one of Ladenburg Thalmann’s five subsidiary independent advisory and brokerage firms, including Securities America, KMS Financial Services, Investacorp and Securities Service Network. Triad is based in Atlanta and was founded in 1998, and 10 years later it was acquired by Ladenburg Thalmann Financial Services.
At the time, Triad’s network of advisors had about $9 billion in client assets, but it has grown significantly in size and scope in the years since; as of the end of 2018, Triad had 641 advisors with more than $26 billion in client assets, according to Triad’s site. In January, Triad recruited Retirement Benefits Group, a retirement plan-focused advisory firm with more than $10 billion in assets under management. Several months prior, Triad recruited Stonebridge Financial Group, which had approximately $850 million in client assets under advisement, from Wells Fargo Advisors Financial Network. In speaking about the deal with Mooney Lyons, Stibbs stressed that the firm stood “ready to help” other financial advisors.
“Working with highly motivated practices like Mooney Lyons gives us the energy and drive to do our best for the advisors that affiliate with us,” he said. “As more practices take the hybrid RIA path, we believe we will continue to be a key destination of choice for those advisors.”