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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> America

Ameriprise Financial sells Securities America to Ladenburg Thalmann

Posted by RJ and Makay on Aug 17, 2011

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Ameriprise Financial Inc. (AMP) announced today that it has agreed to sell Securities America Financial Corporation and its subsidiaries to Ladenburg Thalmann Financial Services, Inc. (LTS) for $150 million in cash.  The deal is expected to close by the end of the year and will add about $450 million in annual revenue for Thalmann.  The deal includes additional payments to Ameriprise if Securities America hits performance targets in 2012 and 2013.