Ladenburg Thalmann Financial Services subsidiary Securities America entered into a strategic alliance with industry veteran David Pintaric to help launch William R. Pintaric & Associates LLC as a Super Office of Supervisory Jurisdiction, Securities America said Tuesday.
The super-OSJ combines Pintaric’s 33 years of experience in the wealth management industry with the technology, “expertise and resources” of Ladenburg’s largest subsidiary, according to Securities America, which said it had 2,600 independent advisors and about $97 billion in client assets as of Sept. 30.
The announcement is another example of Securities America serving as a “strong partner for seasoned industry professionals who are seeking to channel their knowledge and skill in supporting independent advisors into establishing successful OSJ offices,” it said.
As part of the new Super-OSJ’s growth strategy, Pintaric will work with Securities America’s recruiting team and “leverage his own extensive industry contacts in hopes of recruiting new advisors to the firm,” Securities America said. The firm will also use its experience helping OSJs in their “brand-building efforts to assist” Pintaric in “developing his new brand and raising his profile on social media platforms,” Securities America said.
William R. Pintaric & Associates is “affiliating with Securities America” as part of the alliance, Gregg Johnson, executive vice president of branch office development and acquisitions at Securities America, told ThinkAdvisor, noting “this is not an acquisition.”
“One of the things that we’re most excited about is the ability to partner with someone like David who has” so many years of experience and has both run his family’s broker-dealer and been an executive with a large, independent BD, he said.
Pintaric also has the “ability to know what’s needed and what’s desired by advisors,” Johnson said, adding he has known Pintaric for many years. “David has brought some client assets to the new office, but please keep in mind that this is a new enterprise, and it will take time to build up its book of business,” Johnson pointed out. He added: “That said, his current AUM and advisor headcount is less important to us than his ability to build a very attractive, compelling OSJ platform for advisors. We believe that he is in a tremendous position to do that successfully, and we are looking forward to supporting the growth of his firm.”