Securities America Inc.
A subsidiary of Ladenburg Thalmann Financial Services Inc.
Clearing firm: Charles Schwab, Fidelity Clearing and Custody Solutions, National Financial Services LLC, Pershing LLC, TD Ameritrade
No. advisers: 2,600
No. franchises: 1,639
AUM: $86,100,000,000
Year founded: 1984
Year end: Dec. 31
No. of retail offices: 2,600
Recruitment & Staffing
| 2018 | 2017 | 2016 | |
|---|---|---|---|
| No. of reps | 2,600 | 2,506 | 2,209 |
| No. of producing reps | 2,600 | 2,506 | 2,209 |
| No. of reps producing $100K-$499K /year | 1,155 | 912 | 832 |
| 2018 | 2017 | 2016 | |
|---|---|---|---|
| Total revenues | $803,500,000 | $637,300,000 | $535,725,000 |
| Commission revenues | $311,500,000 | $257,600,000 | $229,700,000 |
| Fee revenues | $402,050,000 | $313,800,000 | $248,500,000 |
| Total revenues: Other | $89,950,000 | $65,900,000 | $57,525,000 |
| 2018 | 2017 | 2016 | |
|---|---|---|---|
| Total account assets | $86,100,000,000 | $86,850,000,000 | $66,000,000,000 |
| Fee-based assets | $39,200,000,000 | $38,100,000,000 | $26,300,000,000 |
| Total account assets: Other | $46,900,000,000 | $48,750,000,000 | $39,700,000,000 |
| Average assets per rep | $33,115,385 | $34,656,824 | $29,877,773 |
| Social Media & Mobile | |||
| Allows advisers to use social media | Y | ||
| Social media sites allowed | Facebook | ||
| Dedicated mobile application for advisers? | Y | ||
| Primary purpose of mobile application | Easy access to important client information | ||
SEC bars former Securities America rep over $1 billion Ponzi scheme
December 2, 2019 - The Securities and Exchange Commission has barred former Securities America broker and certified public accountant Ronald J. Roach for his role in a Ponzi scheme that defrauded investors of about $1 billion. In October, Mr. Roach pleaded guilty to the...
Five brokers lose Ohio National lawsuit over annuity commissions
November 22, 2019 - A group of five brokers lost a lawsuit against Ohio National Life Insurance Co. over the insurer's termination of commission payments for certain variable annuity policies. Judge Emily C. Marks of U.S. District Court in Alabama dismissed all claims made...
Finra bars former Securities America rep in private-securities sale query
August 27, 2019 - The Financial Industry Regulatory Authority Inc. has barred former Securities America rep Bobby Wayne Coburn for failing to appear at a hearing looking into his sales practices. [More: Finra bars no-show former Cetera rep] In March, Securities America...
Insurgent Chris Flint wins contested Finra election for big-firm board seat
August 19, 2019 - In a contested election for a large-firm seat on the board of the Financial Industry Regulatory Authority Inc., insurgent candidate Chris W. Flint has won over incumbent Andrew S. Duff, who was selected to run by the Finra board's nominating committee....
New York RIA head sentenced to 13 years for Ponzi scheme
August 1, 2019 - The head of a suburban New York RIA, Hector May, who pleaded guilty last December to stealing $11.5 million from investors in a Ponzi scheme, has been sentenced to 13 years in prison and ordered to pay $8.4 million in restitution. (More: Securities...
Finra, looking into fraud, bars former Securities America rep
May 28, 2019 - The Financial Industry Regulatory Authority Inc. has barred former Securities America rep Michael Bastardi for failing to provide it with information in connection with an inquiry into his conduct. Mr. Bastardi, who was registered through Securities America...
- Notes
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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