Investacorp, SSN and KMS to Become Part of Securities America in Phased Plan to Commence in Summer and Conclude by Year End
Advisor Group, the nation’s largest network of independent wealth management firms, announced an organizational realignment to drive the accelerated delivery of its industry-leading technology, platforms and growth resources to all financial professionals across its recently expanded organization. As part of this realignment, Investacorp, Securities Service Network (SSN) and KMS Financial Services will be integrated into Securities America under a process that emphasizes continuity of service and minimal administrative burden for financial professionals. Advisor Group confirms no repapering of client securities accounts will be needed for financial professionals at Investacorp, SSN and KMS. A small number of advisor accounts at KMS will require positive consent to the change of firms.
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Upon conclusion of this realignment plan, which will commence this summer and wrap up by the fourth quarter of this year, both Securities America and Triad Advisors will remain stand-alone firms, alongside the pre-existing Advisor Group firms FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial and Woodbury Financial Services.
Jamie Price, CEO of Advisor Group, said, “Our decision to align Investacorp, SSN and KMS with Securities America was driven by one goal: Delivering the very best technology, platforms, tools and other growth resources that we have to all financial professionals across each of these firms as expeditiously as possible. We reached this decision after a comprehensive review of operations that we commenced shortly after the completion of our merger with Ladenburg in late February, in a process that included feedback from financial professionals. Based on this review, we are implementing these organizational changes in a carefully staged, multi-month process that prioritizes consistency of support for financial professionals and their clients.”
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“From the outset, we have been clear that no former Ladenburg firms would be combined with the four original Advisor Group firms, while also emphasizing that any organizational changes would be based on what most effectively and efficiently adds value to the financial professionals affiliated with our newly-acquired firms,” Mr. Price continued. “This announcement is consistent with our strategy and reaffirms our commitment to expedite the ongoing delivery of leading-edge technology, products and resources to cement our position as the leading multi-brand, multi-clearing and multi-custodial platform in the wealth management space today.”
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