Ladenburg Thalmann Enters Into Strategic Relationship with Norman Malo and Richard Jasper
Industry Veterans Join Ladenburg Team as Strategic Advisors as Firm Continues to Grow its Independent Brokerage and Advisory Business
MIAMI-- Ladenburg Thalmann Financial Services Inc. (AMEX: LTS) today announced that it has entered into a strategic consulting relationship with Norman Malo and Richard Jasper, the founding partners of Wealth Investment Partners LLC. Mr. Malo, the former President and Chief Executive Officer of National Financial Services LLC (a Fidelity Investments® company), and Mr. Jasper, the former Director of Business Development at Russell Investments, will help Ladenburg identify and capitalize on new acquisition opportunities and strategic partnerships as it continues to grow its independent brokerage and advisory business and other core areas of the firm.
Dr. Phillip Frost, Chairman of Ladenburg, stated, “We are extremely pleased to be collaborating with Norm and Rich as we continue our efforts to expand our independent broker-dealer and advisory business. With over 1,000 financial advisors and more than $22 billion in client assets, Ladenburg is committed to building further on its strong position in the space, both organically and through acquisitions.”
Richard Lampen, President and Chief Executive Officer of Ladenburg, stated, “Norm and Rich are prominent figures in the industry and we look forward to capitalizing on their significant expertise in growing broker-dealers as well as tapping into their vast network of relationships with registered representatives, asset managers, and private trust companies in order to increase client assets and recruit talented new independent advisors.”
Messrs. Malo and Jasper commented, “We are delighted to be partnering with Ladenburg as it continues to expand its independent brokerage and advisory platform. Ladenburg has established itself as a significant player in this fast growing, evolving space. We look forward to providing additional resources and insight to help Ladenburg identify and capitalize on new opportunities in the marketplace during the next phase of the firm’s development.”
About Ladenburg
Ladenburg Thalmann Financial Services is engaged in investment banking, equity research, institutional sales and trading, independent brokerage and advisory services, asset management services and trust services through its principal subsidiaries, Ladenburg Thalmann & Co. Inc., Investacorp, Inc., Triad Advisors, Inc., Ladenburg Thalmann Asset Management Inc. and Premier Trust, Inc. Founded in 1876 and a New York Stock Exchange member since 1879, Ladenburg Thalmann & Co. is a full service investment banking and brokerage firm providing services principally for middle market and emerging growth companies and high net worth individuals. Investacorp, Inc., a leading independent broker-dealer headquartered in Miami, Florida, has been serving the independent registered representative community since 1978 and has approximately 450 independent financial advisors nationwide. Founded in 1998, Triad Advisors, Inc. is a leading independent broker-dealer and registered investment advisor headquartered in Norcross, Georgia that offers a broad menu of products, services and total wealth management solutions to approximately 600 independent financial advisors nationwide. Ladenburg Thalmann Financial Services is based in Miami, Florida. Ladenburg Thalmann & Co. is based in New York City, with regional offices in Miami and Boca Raton, Florida; Melville, New York; and Princeton, New Jersey. For more information, please visit www.ladenburg.com.
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future growth, statements regarding growth of the independent brokerage and advisory area, statements regarding expected benefits from the consulting relationship with Wealth Investment Partners and statements regarding client assets and financial advisors. These statements are based on management’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of the Company’s business. These risks, uncertainties and contingencies include those set forth in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2010 and other factors detailed from time to time in its other filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
Sard Verbinnen & Co
Paul Caminiti/Carrie Bloom/Jonathan
Doorley, 212-687-8080
Source: Ladenburg Thalmann Financial Services Inc.