Securities Service Network, a unit of Ladenburg Thalmann, says it has recruited five teams with a total of 16 advisors and roughly $441 million in combined advisory and brokerage client assets.
“Given the changes to our industry landscape brought on by both the fiduciary era and recent reforms to the tax code, we believe SSN has a unique opportunity to advance a longstanding core strength of supporting tax-savvy financial planners,” said President & CEO Wade Wilkinson in a statement.
The newly advisory practices are:
- Valley Investment Solutions of Kaukauna, Wisconsin
- Insight Financial Services of Overland Park, Kansas
- Dercks, Engels & Lautenschlager Financial Services of Greenville, Wisconsin
- Summit Financial Group of Fort Wayne, Indiana
- Brown & Associates Investment Services of Fayetteville, N.C.
SSN supports over 400 independent financial advisory practices and some $13 billion in advisory and brokerage client assets.
In other news, Alex. Brown, a division of Raymond James, has recruited advisor Andrew Hutcheson in Los Angeles, according to John Davis, Coastal regional director for Alex. Brown. Hutcheson joins from UBS, where he managed $200 million in client assets and had $1.2 million in annual fees and commissions.
“Expanding in the West continues to be an important focus for Alex. Brown and Raymond James,” said Davis, in a statement. “Alex. Brown’s rich history in the area, particularly in California, continues to attract accomplished and talented advisors in our industry.”
Hutcheson previously served as a senior retirement plan consultant and senior portfolio manager at UBS. Prior to UBS, he was a partner at Edward Jones Investments, where he was the performance leader for the western region and led their Retirement Plan business. Joining him at Alex. Brown is investment associate Audra Benge.
“After talking with Haig Ariyan, Alex. Brown’s president, and members of the management team and the local office, I got a better sense of how Alex. Brown’s platform would be the best fit for helping me grow in my specialty of defined contributions, 401(k)s and foundations,” Hutcheson explained in a statement.
Ameriprise Financial said it has added two advisors who a total of $309 million in assets under management.