Seeking Alpha

Ladenburg Thalmann to acquire KMS Financial Services

  • In news released alongside its quarterly results, Ladenburg Thalman (LTS +4.8%) agrees to the purchase of KMS Financial, a Seattle-based broker with about 325 financial advisors, $14B in client assets, and $84M in revenue.
  • LTS will pay about $24M - $11M in cash, $8M in 4-year notes, and 1.44M shares of common stock.
  • Upon closing of this and other pending deals, Ladenburg will have about $110B in client assets, 3.5K advisors, and $1B of annual revenues.
  • Source: Press Release
  • Previously: Ladenburg Thalman in high cotton
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