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October 30, 2019 at 04:47 PM
Ladenburg Thalmann, which owns a group of independent broker-dealers with about 4,500 advisors, is considering its ownership options, according to Bloomberg News.
The firm’s IBDs are Securities America, Triad Advisors, Investacorp, Securities Service Network and KMS Financial Services.
“As a matter of corporate policy, we don’t comment on market rumors or speculation,” CEO Richard Lampen said in an email to Ladenburg’s affiliated advisors.
“Everyone at Ladenburg remains focused on running the business and continuing to serve your needs,” Lampen said. “If you are asked about this news by your clients, you can assure them that it is business as usual.” He said the firm’s financial performance had been strong.
“The strategy behind such a move [to sell] is likely tied to the fact that the markets are topping, so selling … now is a better time than ever,” said industry recruiter Jon Henschen. “You want to exit before any weakness, which could mean you get 30% less.”
What options could be on the table for Ladenburg?
“Maybe they’re looking for a private equity firm to take a minority or partial interest, so they get some capital for expansion,” said Henschen, who sees that situation as more advantageous than a sale that brings on a full or majority owner.
“But they could be thinking about a sale to a hedge fund or a leveraged buyout,” he added.
