After losing close to 10% of its advisors since spring, Securities America is focused on growing back to its former scale.
The firm's roster is down about 150 independent reps over the last six months, a period in which the long-drawn-out process of changing corporate ownership led many to depart.
Now that Securities America is officially under new owner Ladenburg Thalmann's control, it is launching a practice transition program to help its remaining affiliates grow.
There seem to be several objectives here. First, Securities America is encouraging its stronger reps to buy out the weaker ones, keeping those assets within the network.
Second, providing strategic insight into the M&A process may get these advisors thinking about buying an outside practice or two.
But on the advisor-facing side, the main selling point here seems to be giving advisors who have no plans to buy or sell a way to ensure that their businesses continue in the event of a sudden death or illness.
The biggest story in the press release introducing the program involves both sudden death and shark attack, pointing advisors firmly in the direction of succession planning.
If Securities America wants to get its reps on the M&A path, a bit more concrete focus on the day-to-day business benefits might be welcome.
Securities America has also brought in Jeremy Belfiore, formerly an independent recruiter and consultant, to drive its recruiting efforts through the western United States.
Belfiore is being positioned as a brand ambassador for Securities America aggressively courting new recruits.
He will be talking about all the great things the firm can do for outside reps, or as the firm says, "communicate Securities America’s philosophy with financial professionals seeking to align themselves with a Business Growth Expert."