Ladenburg Thalmann Financial Services Inc. (NYSE: LTS), a publicly-traded financial services company, has launched its enterprise innovation initiative and innovation lab. The firm appointed Dan Sachar to the newly-created role of vice president of enterprise innovation to lead the platform.
The launch is part of a broader strategy to accelerate the roll-out of new enterprise resources throughout 2018 that support the growth of Ladenburg’s advisory and brokerage subsidiaries, and the financial advisors they serve.
Ladenburg innovation lab will “seek to identify transformative technologies and solutions, and align them with the financial advisors supported by Ladenburg’s independent advisory and brokerage subsidiaries,” the company said in a statement.
Ladenburg’s subsidiaries include Securities America, Triad Advisors, Investacorp, KMS Financial Services and Securities Service Network.
“The retail financial advice space is at a crucial inflection point, characterized by new opportunities created through the convergence of dramatic changes in technology, demographics and the needs of retail investors,” said Adam Malamed, chief operating officer of Ladenburg.
“In response, we’re bringing together the intellectual capital, innovation expertise and growth tools that our firms and their financial advisors need to fully capture these emerging growth opportunities. Our newly launched enterprise innovation initiative will play a crucial role in helping us anticipate, identify, test and implement the technologies, solutions and practices that will define the next era of retail financial advice,” he added.
The innovation lab will guide equity investments in third-party technology providers, in areas such as fintech, whose products and platforms demonstrate benefits for Ladenburg’s advisors. The lab will also serve as an in-house strategic consultant resource that will allow advisors ‘test drive’ new technologies and innovation-driven business growth plans.
Sachar, the founder of independent technology and business strategy consultancy Nextt Advisors Inc., was brought on board to lead the new platform. Previously, he served as a client partner at start-up incubator, investment and services firm Highnote Foundry, where he was responsible for spearheading projects in corporate innovation by building early-stage businesses. Sachar holds a bachelor’s degree from Swarthmore College and a master’s in business administration from Columbia Business School.
Earlier this month, The DI Wire reported that Ladenburg launched a new due diligence platform and appointed veteran industry due diligence executive Thayer Gallison to head the new function.
Ladenburg Thalmann Financial Services is based in Miami, Florida and its five wholly-owned subsidiary firms collectively support 4,000 financial advisors across the country.