Investment advisory firm United Advisors has teamed up with Securities America to launch a new hybrid independent wealth advisory business model.
As part of the launch, United Advisors has appointed Kevin Hughes as managing partner of its new United Advisors Private Client Group.
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Hughes has more than 21 years of experience on Wall Street and prior to his spell at Morgan Stanley, he worked at Smith Barney.
The new hybrid independent and wirehouse model will allow financial advisors to be properly compensated while placing their clients first, and also avoid the professional isolation of going it completely alone.
Additionally, the business model will allow advisors to maintain the office structures and geography they are used to, working under a unified branch identity, while operating on a completely independent platform.
According to United Advisors, the advisors will be completely independent but will be able to network, partner, train and share ideas with other branch advisors while gaining supportive, open access to the management and resources available from United Advisors, Securities America and Ladenburg Thalmann.
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By GlobalDataGregg Johnson, senior vice president of branch office development and acquisitions at Securities America, said that the advisors, through their parent company, Ladenburg Thalmann, will have access to services they are used to from wirehouse environments, such as investment banking and capital markets products.
