Securities America, an independent broker/dealer subsidiary of Ladenburg Thalmann, has recruited three advisor practices from Questar Capital, whose advisors have moved over to Woodbury via a recruiting deal. Questar parent Allianz entered into an agreement with Advisor Group last October to transition the firm’s reps to Woodbury Financial Services. About 400 reps, and 86% of Questar’s assets under management, went over to Woodbury.
Miller & Hurt Wealth Advisors, a two-advisor team in Rockledge, Fla., moves to SAI with $110 million in client assets. Hill & Associates, a three-advisor team in Lincoln, Neb., brings $82 million onto the b/d’s platform, while Duprez Financial, with two advisors in Myrtle Beach, S.C., has $53 million in client assets.
This is not the first time Securities America has had success recruiting advisor teams affiliated with broker/dealers going through ownership changes. The firm recruited several teams and offices of supervisory jurisdiction in the wake of LPL Financial’s acquisition of National Planning Holdings last year.