Securities America announced the introduction of a new business model to attract more wirehouse advisors to the independent channel in cooperation with partner United Advisors and its parent company.
“This model gives breakaway wirehouse advisors the freedom to operate their own business as they see fit while maintaining the office structures and geography they are used to,” said Gregg Johnson, senior vice president of branch office development and acquisitions for Securities America, in a press release.
The new arrangement means that advisors will be able to access office space and a branch identity with other ex-wirehouse advisors, while operating and growing their own business on an independent platform, Johnson explains. Plus, they will be able to earn more and access services like investment banking and capital markets products from Securities America’s parent company Ladenburg Thalmann.
“Advisors who join United Advisors Private Client Group will earn significantly higher payouts on the business they write compared to the wirehouse,” Johnson said in a statement.