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Retirement Planning > Social Security

Securities America Wraps Up $2.5B Insurance Acquisition

By Janet Levaux

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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.

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.

“The intimate setting of the conference allows these independent financial advisors to meet with money managers one-on-one to discuss their specific business models and goals, allowing them to expand their investment advisory services to clients,” explained Dennis King, senior vice president of business development and fee-based sales for Securities America, in a press release.

About 70 advisors came to the IBD’s NextPhase conference, held just before the managed-money event. This gathering focused on retirement-income distribution; topics included proposal generation and support, client marketing materials and an investment platform.

Corgenius CEO Amy Florian gave advisors guidance on how to support clients dealing with transition and loss. In addition, Marlene Lund, president, Speaking of Aging Inc. and Lund Insurance, spoke about senior health care funding.

“Advisors taking advantage of our NextPhase program are receiving both a strong partner and a plan that provides solutions,” said Zach Parker, first vice president of Wealth Management & Product Strategy at Securities America, in a statement. “Whether an advisor needs resources for outreach, education or to help ease client fears about volatility and uncertainty, we want them to have the knowledge and confidence to provide superior client service.”

On Nov. 5, Securities America introduced a mobile app for its fee-based wrap platform, Managed Opportunities, which has over 500 mutual fund and ETFs, as well as 125-plus separately managed account portfolios. Advisors also can use the platform to create self-directed models, outsource to third-party money managers or both in a single account.

The IBD says advisors can use the new mobile to “run proposals, manage client assets, run client-specific reviews and perform deep research from a tablet.”

“Our focus remains on providing advisors flexible and scalable technology that allows them to be more efficient,” said Janine Wertheim, president of Securities America Advisors and senior vice president and chief marketing officer of Securities America, in a press release. “We understand the need to be on the cutting edge with respect to platforms that can help advisors manage and grow their business, and will continue to expand our offering as new options become available.”

Ladenburg Thalmann, which includes other IBDs such as Triad Advisors and Investacorp, says that pending the company’s acquisition of Securities Service Network, it should have roughly 4,000 financial advisors with $125 billion of client assets.

— Check out Schwab, Fidelity Stop Sales of Schorsch-Led Nontraded REITs on ThinkAdvisor.

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