Securities America announced Tuesday that 30 advisors from Eagle One Investments in Washington, Iowa, have affiliated with the independent broker-dealer, an addition that represents the Nebraska-headquartered firm's second small broker-dealer transition in the last 30 days.
The Iowa group, which represents approximately $4.5 million in annual revenue, intends to wind down operations, and most of its advisors have moved to Securities America, according to Eagle One Investments Chief Executive Dave Paulson. Eagle One was founded in 1998 as a representative-owned broker-dealer. It has advisors in Iowa, Nebraska, North Dakota, Minnesota, California, Michigan, Wisconsin and Illinois.
Founded in 1993, La Vista, Neb.-based Securities America is a subsidiary of Ladenburg Thalmann Financial Services and the nation's eighth-largest independent broker-dealer as ranked last June by Financial Planning magazine, based on 2011 total revenue.
"This is the second small BD transition we have announced in the past 30 days," said Jim Nagengast (left), Securities America CEO and president, in a statement. "All parties are seeing a win-win outcome from our experience in completing these transactions combined with the resources we bring to a successful transition and an industry-leading value proposition for future growth and success."
