Securities America said early Tuesday that it had completed its acquisition of some 205 Sunset Financial Services’ registered representatives from Kansas City Life Insurance (KCLI).
The Ladenburg Thalmann-owned (LTS) independent broker-dealer says these independent reps have about $2.5 billion in client assets and now report to KCL Services Co., an office of supervisory jurisdiction (OSJ) of Securities America. In addition, the Sunset Financial reps will continue to sell Kansas City Life variable insurance products.
“Our technology, advisory, practice management solutions and retirement income distribution programs have been well received by the advisors from Sunset Financial Services,” said Securities America CEO and President Jim Nagengast, in a statement. “We look forward to helping them become even more familiar with our offerings as they grow their practices.”
The latest deal follows Securities America’s July acquisition of 60 advisors with $950 million in client assets from Dalton Strategic Investment Services. The IBD says it also added 30 advisors from Eagle One Investments in 2013 and transitioned 140 advisors from Investors Security Co. in 2012. Prior to these deals, it transitioned 45 advisors from Equitas, 40 from ePlanning and 260 via its purchase of Brecek & Young Associates.
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The broker-dealer currently has more than 1,800 independent advisors and $50 billion in client assets.
In early November, Securities America and several other firms suspended sales of some products tied to American Realty Capital Properties (ARCP) and RCS Capital (RCAP), the Phillips Edison-ARC Grocery Center REIT II and Cole Capital Properties V.
Conferences, Tech Moves
Securities America recently hosted two conferences for its reps in Amelia Island, Florida.
In early November, 90 of them met to discuss the third-party money manager options at the group’s seventh-annual Managed Money Conference. Twenty-three third-party money managers and two mutual fund companies attended the event to describe strategies and trends in asset management.
Keynote speakers included Bob Nelson, managing partner of Nelson Murphy Insurance & Investments, in Omaha, and Judson Bergman, chairman and chief executive officer of Envestnet.