Ladenburg Thalmann Financial Services’ subsidiary Highland Capital Brokerage has acquired certain assets from Four Seasons Financial Group, an insurance and annuity distribution company from New Jersey.
The acquisition further demonstrates Ladenburg’s ability to leverage its nationwide scale and resources to reinforce its position in the increasingly vital insurance and annuity space.
Ladenburg chairman, president and CEO Richard Lampen said: “Ongoing demographic shifts and escalating planning complexities associated with significantly longer average lifespans make it more crucial than ever for financial advisors and institutions to enjoy access to comprehensive insurance and annuity solutions, along with the tools to support client insurance needs in an efficient and streamlined manner.
“With this acquisition, we have further strengthened the Ladenburg insurance and annuity platform’s position in this space, while reinforcing our mission of mobilizing Ladenburg’s intellectual capital, financial capital and other growth resources to deliver a superior level of value-added solutions for financial advisors and institutions across the country.”
Founded in 1993 by James J. Sorebo, Four Seasons Financial Group (FSFG) is a national distributor of annuities, life insurance, hybrid long-term care insurance products and product design with a focus on the institutional market, and has developed its network by recruiting and training bank and broker/dealer registered representatives nationwide.
The acquisition is expected to both expand and deepen the services and solutions Ladenburg’s insurance and annuity platform offers, while expanding its presence in the institutional segment through FSFG’s existing selling agreements with over 200 banks and independent broker-dealers, as well as with other firms representing more than 5,000 financial advisors.
The Ladenburg insurance and annuity platform encompasses Highland, a national brokerage firm providing comprehensive support and product solutions to financial advisors and insurance professionals, as well as Ladenburg Thalmann Annuity Insurance Services (LTAIS), a national distributor of annuity solutions for independent financial advisors.
Highland’s acquisition of assets of FSFG builds on the acquisition by LTAIS in September this year of key assets of Kestler Financial Group, a leading independent distribution company focused on annuities, life insurance, long-term care insurance and disability insurance.
Under the terms of the transaction, the FSFG team will operate from their current headquarters in Marlton, NJ, as part of Highland. James Sorebo will become part of the Highland management team, effective immediately.
Highland Capital Brokerage CEO Jim Gelder said: “We are excited to welcome FSFG to Highland Capital Brokerage and the broader Ladenburg family. Jim Sorebo is an established and very well-respected leader in our industry, and his experience and vision will bring significant benefits to our leadership team.
“In addition to its network and trusted relationships with institutions across the country, FSFG has also positioned itself as an innovator in streamlining the insurance and annuity sale process in the wholesale space.
“We look forward to working with Jim and his team to further bolster the robust solution set Highland and the Ladenburg insurance and annuity platform offer to advisors and institutions, and to accelerating our growth in this crucial market together.”
FSFG president and CEO James J. Sorebo said: “We are thrilled to announce this asset acquisition by Highland Capital Brokerage, and to become part of the Ladenburg insurance and annuity platform. Highland’s existing business is highly complementary to ours, while the Highland and Ladenburg team’s vision for continuing to extend their leadership in these crucial markets is a perfect fit with our growth strategy.”
Source: Company Press Release