Ladenburg Thalmann Subsidiary Acquires Insurance Distribution Business with 3,000 Advisors
Ladenburg Thalmann Annuity Insurance Services LLC (LTAIS), a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE: LTS) and full-service annuity processing and marketing company, has purchased certain assets of the insurance distribution business operated by Kestler Financial Group Inc., an independent distribution company located in Leesburg, Virginia.
Ladenburg Thalmann Annuity Insurance Services LLC (LTAIS), a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTSL, LTS PrA, LTSF, LTSK and full-service annuity processing and marketing company, has purchased certain assets of the insurance distribution business operated by Kestler Financial Group Inc., an independent distribution company located in Leesburg, Virginia.
Founded in 1993 by father and son Tom and Jason Kestler, Kestler Financial Group is a distributor of annuities, life insurance, long term care insurance and disability insurance. The firm has selling agreements with more than 20 independent broker-dealers, RIAs and other firms representing more than 3,000 affiliated financial advisors. LTAIS purchased certain Kestler assets, including the rights to the “Kestler Financial Group” name and brand.
The company said that the acquisition is expected to generate “important benefits” for the Ladenburg insurance and annuity platform, which also includes Ladenburg subsidiary Highland Capital Brokerage.
“This is a significant step forward in our strategic vision for LTAIS and the entire Ladenburg insurance and annuity platform, especially with respect to reinforcing our leadership position in the independent financial advice space at a time when insurance and annuity solutions are becoming increasingly important to individuals and families across the country,” said Richard Lampen, president and chief executive officer of Ladenburg.
The Kestler team will operate from their current headquarters in Leesburg, and Jason Kestler is now part of the Highland executive management team, while also serving as president of the Kestler Financial Group division within LTAIS.
Ladenburg Thalmann Financial Services is the fourth-largest firm within the independent financial advice space, supporting 4,300 financial advisors and more than $168 billion in advisory and brokerage client assets. Ladenburg subsidiaries include Securities America, Triad Advisors, Securities Service Network, Investacorp, KMS Financial Services, Premier Trust, Ladenburg Thalmann Asset Management, Highland Capital, Ladenburg Thalmann Annuity Insurance Services, and Ladenburg Thalmann & Co. Inc.
