Ladenburg Thalmann Financial Services Acquire Brokerdealer Firm blog update courtesy of South Florida Business Journal’s Nina Lincoff profiles a financial service’s recently acquisition of brokerdealers services.

Brokerdealers are at the center of the securities and derivatives trading process therefore making them a great asset to any financial services firm. Services that brokerdealers offer very important and valuable tools to any financial services firm. Recently, Miami-based Ladenburg Thalmann realized this and made a $45 million venture to acquire the Knoxville, Tennessee-based independent broker-dealer and advisory firm, Securities Service Network.

Miami-based Ladenburg Thalmann Financial Services said Monday it had completed its $45M acquisition of a Knoxville, Tenn.-based independent broker-dealer and advisory firm.

With the acquisition of Securities Service Network, Ladenburg Thalmann adds about $13 billion in client assets and about 450 independent financial advisors, according to a news release. For the 12 months ended June 30, SSN generated about $115 million in revenue.

The acquisition, announced in September, consists of a $25 million cash payment and $20 million in four-year notes. The purchase follows a string of purchases by Ladenburg Thalmann, including a November acquisition of a broker-dealer that added $2.5 billion in assets to the company.

Ladenburg Thalmann’s chairman and principal shareholder is billionaire Dr. Phillip Frost, CEO of Miami-based Opko Health. Frost acquired 100,000 shares of Ladenburg Thalmann stock at nearly $4.09 a share, or a total of just over $400,000, the same day the acquisition was announced.

For Lincoff’s original article in South Florida Business Journal, click here.