Advisor Group’s new IBD giant is leveraged on network appeal
November 13, 2019 by Tobias Salinger
Two major IBD networks are joining forces against the largest firms in the space.
Nearly a year after cashing out its former principal shareholder, Ladenburg Thalmann found a buyer building a new giant of the independent broker-dealer sector. The buyer, Advisor Group, is also assembling more debt under its latest massive private equity deal.
Reverence Capital Partners-backed Advisor Group struck a deal to acquire Ladenburg’s five IBDs with 4,400 advisors for $1.3 billion, the firms said Nov. 11. The agreement would create a network of nine firms with 11,500 advisors and $450 billion in client assets upon its expected closure in the first half of next year. It would also take Miami-based Ladenburg private.