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Securities America Adds Former NPH Hybrid with $744 AUM

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Securities America, the broker-dealer subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE: LTS), announced that Elite Financial Network has joined its independent advisory and brokerage platform.

Elite Financial Network, an independent hybrid RIA and Super-OSJ founded in 1992, has 35 advisors supporting $744 million in advisory and brokerage client assets in offices across Ventura, Riverside, San Bernardino, Orange, San Diego and Los Angeles counties in California.

Elite Financial was previously affiliated with National Planning Corp, the largest firm within the National Planning Holdings network, which was purchased by LPL Financial in August for an initial purchase price of $325 million.

In other Securities America news, super-OSJ Priority Financial Group, which oversees $1.35 billion of client brokerage and advisory assets, joined the firm from LPL Financial two weeks ago.

“The two factors that determined the firm we wanted to affiliate with came down to superior, easy-to-use technology and a culture that made all of us feel at home,” said Elite Financial Network president Dan Cairo, a 30-year veteran of the retail financial advice industry. “We spoke with multiple firms in our search process. Securities America immediately stood out as the best possible choice by far for us, our advisors and their clients.”

Elite Financial Network specializes in providing business growth resources, compliance supervision support, and practice management coaching to independent advisors.

Securities America is one of the nation’s largest independent advisory and brokerage firm with more than 2,200 independent advisors and nearly $72 billion in client assets.

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