Securities America announced Tuesday that 30 advisors from Eagle One Investments in Washington, Iowa, have affiliated with the independent broker-dealer, an addition that represents the Nebraska-headquartered firm’s second small broker-dealer transition in the last 30 days.
The Iowa group, which represents approximately $4.5 million in annual revenue, intends to wind down operations, and most of its advisors have moved to Securities America, according to Eagle One Investments Chief Executive Dave Paulson. Eagle One was founded in 1998 as a representative-owned broker-dealer. It has advisors in Iowa, Nebraska, North Dakota, Minnesota, California, Michigan, Wisconsin and Illinois.
Founded in 1993, La Vista, Neb.-based Securities America is a subsidiary of Ladenburg Thalmann Financial Services and the nation’s eighth-largest independent broker-dealer as ranked last June by Financial Planning magazine, based on 2011 total revenue.
“This is the second small BD transition we have announced in the past 30 days,” said Jim Nagengast (left), Securities America CEO and president, in a statement. “All parties are seeing a win-win outcome from our experience in completing these transactions combined with the resources we bring to a successful transition and an industry-leading value proposition for future growth and success.”
On Dec. 11, Securities America said Investors Security Co. of Suffolk, Va., will become a branch of Securities America, with about 130 advisors.
Paulson said Eagle One’s advisors can now take service to their clients “to the next level” with what Securities America and Ladenburg Thalmann offer.
“Our advisors have enjoyed the culture and camaraderie at Eagle One,” Paulson said in a statement. “Finding that same Midwestern-values culture at Securities America, along with the cutting-edge technology and focus on business growth, gave our advisors a great deal of comfort and confidence.”
Read Securities America Adds Group With 130 Reps, $1 Billion in Assets at AdvisorOne.