• Feb. 23, 2015, 5:52 PM
    Feb. 23, 2015, 5:52 PM
  • Sep. 23, 2014, 11:02 AM
    • Ladenburg Thalman (LTS +1.4%) yesterday announced an agreement to purchase Knoxville-based Securities Service Network for $45M - $25M in cash and $20M of four-year notes.
    • Founded in 1983, SSN has about 450 financial advisors and roughly $13B in client assets. The business had revenue of $115M for the year ended June 30.
    • Following this deal and two other pending purchases, Ladenburg's network of brokerages will have about 4K financial advisors, $125B in client assets, and revenues of $1.1B.
    • Barrington boosts its price target on the Outperform-rated name to $5 from $4.25, noting the fast pace of acquisitions this year.
    Sep. 23, 2014, 11:02 AM