Liberty Partners Financial Services and Modern Capital Securities Join Forces with Parsonex to Enhance Services for Financial Representatives and Clients.
Parsonex Enterprises announced plans to merge its two broker dealers with Modern Capital Securities and Liberty Partners Financial Services, pending approval by regulators. The combined firm will have approximately $1.5 billion of assets under management and 150 representatives.
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“This merger allows us to offer a wider range of products to solve client challenges and roll out more efficient business and technology systems,” said Brad Atkins, owner of Liberty and Modern who will oversee the growth of Modern Capital’s recently launched mutual fund and work to expand the firm’s intuitional relationships.
Jonathan Miller, CEO of Parsonex Enterprises, will lead the combined broker dealers and Dan Shanahan will continue to serve as President. Brian Neustrom has joined the firm as chief compliance officer, leveraging nine years of compliance experience at a large broker-dealer active in mergers and acquisitions.
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According to Miller, “There is tremendous synergy in merging these four great firms together. It creates a strong foundation for growth, enhances the services we provide, makes us more efficient and effective, and puts a highly capable team in place for the future. All four firms are having record years and we expect that growth to continue.”
“This makes it even more attractive for experienced advisors to join our firm,” said Shanahan. “Our open architecture, advisor-friendly compliance, competitive compensation, a streamlined technology platform, and customized marketing plans make us one of the most competitive homes for advisors who want to grow their business.”
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