IBD Adds a Pair of Hybrids

Securities America, an independent broker dealer with over 1,700 financial advisors, has recently added to its team by hiring advisors Jonathan Lifschutz and David Reed. The dynamic duo formerly worked for Morgan Stanley and together managed $75 million in client assets.

They are now at United Advisors Private Client Group Great Neck office, which opened two days prior to their arrival. United Advisors, LLC is a New York-based, privately owned financial services company that together with Securities America developed the hybrid independent wealth advisory business model that Mr. Lifschutz and Mr. Reed will be using.

“We are excited to have Jonathan and David as the first two advisors to join our new support model for wirehouse brokers,” commented Mark Penske, chairman of United Advisors. “Most advisors who leave a wirehouse go to another wirehouse because few independent-broker dealers understand what they need. Our partnership with Securities America gives Jonathan and David an independent hybrid option with the turnkey office space, staff and support they are comfortable with. We expect more breakaway advisors to find our model appealing.”

Gregg Johnson, Securities America senior vice president of branch office development and acquisitions added, “We’re proud to support United Advisors in introducing this option for wirehouse advisors looking to breakaway and experience the benefits of an independent broker-dealer.” He continued, “We look forward to Jonathan and David using our award-winning technology, practice management opportunities and supportive environment to take their business to the next level.”

Mr. Lifschutz graduated from Columbia University and holds the Series 7, Series 63 and Series 65 licenses and the Certified Financial Planner (CFP) designation. Mr. Reed, who graduated from the University of Pennsylvania and the California Institute of the Arts, holds the Series 7 and Series 66 licenses.