Ladenburg Thalmann Financial Services Inc., a financial services company, has completed its merger with Advisor Group Inc., one of the nation’s largest networks of independent wealth management firms. Ladenburg shareholders approved the merger last month.
As previously reported, Ladenburg agreed to be acquired by Advisor Group through a cash merger, and each outstanding share of Ladenburg’s common stock was converted into a cash payment of $3.50 per share. The combined company has nine broker-dealers, with nearly 11,500 financial advisors and more than $450 billion in client assets.
Advisor Group’s firms include FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial and Woodbury Financial. Ladenburg’s independent advisory and brokerage firms include Securities America, Triad Advisors, Investacorp, KMS Financial Services and Securities Service Network (SSN).
In connection with the closing, Ladenburg’s common shares have been delisted from the New York Stock Exchange.