Securities America has added an independent wealth management firm based in Wisconsin to one of its corporate RIA platforms, Securities America says.
Middleton, Wis.-based Goldstein & Associates has joined Arbor Point Advisors, according to a press release from Securities America, a subsidiary of Ladenburg Thalmann Financial Services.
Led by founder and CEO Jon Goldstein, Goldstein & Associates’ six-advisor team oversees $565 million, Securities America says.
“Advisors aligning with Arbor Point have the freedom to choose a hybrid business model and affiliate with both Arbor Point and Securities America, or join as an RIA-only advisor with Arbor Point or our other corporate RIA, Securities America Advisors. Jon and his team are joining our platform as a hybrid practice,” Gregg Johnson, executive vice president of branch office development and acquisitions at Securities America, says in the press release.
Arbor Point has added more than $1 billion in advisory assets over the past year, bringing its total assets under management to nearly $4 billion, according to Securities America.
Securities America, meanwhile, has had some turnover in recent weeks.
Last month, an advisor formerly aligned with SA Stone Wealth Management launched a Super-Office of Supervisory Jurisdiction with Securities America. The same month, the company lost a pair of advisors to LPL Financial.
In October, however, Securities America lured a practice from Summit Brokerage Services.
In November, Ladenburg agreed to be acquired for $1.3 billion by Advisor Group, whose network includes the broker-dealers FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial and Woodbury Financial.
Under the terms of the deal, the companies will operate on a “multi-brand network model,” so Ladenburg’s firms, including Securities America, Triad Advisors, Investacorp, KMS Financial Services and Securities Service Network, are not being merged with Advisor Group’s firms.