Ladenburg Thalmann Financial Services, a US-based financial services company, has closed its previously announced acquisition of an independent broker-dealer and investment advisor KMS Financial Services.
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The acquisition of KMS will expand Ladenburg’s presence in Pacific Northwest.
Following the acquisition, Mark Hamby, KMS’s chairman and CEO, Eric Westberg, its president and COO, and the remaining KMS management team will continue to operate KMS as a separate entity based in Seattle, Washington.
As part of the deal, advisors of KMS will have access to Ladenburg products and services including investment banking, capital markets resources, institutional quality equity research, and a fixed-income trading desk.
The acquisition will add over $14bn in client assets and approximately 325 independent financial advisors as well as $84m in revenue to Ladenburg.
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By GlobalDataMark Hamby, chairman and CEO of KMS, said: "Our employees and advisors can expect access to new tools and resources to grow both personally as well as professionally."
