$45 million deal brings burgeoning IBD network to nearly 4,000 reps
Jan 5, 2015 @ 4:00 pm
Ladenburg Thalmann Financial Services Inc. on Monday said it had completed its acquisition of Securities Service Network Inc., a mid-sized independent broker-dealer based in Knoxville, Tenn. Ladenburg Thalmann said in September it had agreed to buy Securities Service Network Inc., known as SSN, which has close to 450 independent reps and advisers and produced $114.2 million in total revenue in 2013. At the time, Ladenburg Thalmann said it would pay $45 million for SSN, or 39.4% of annual revenue. SSN has about $13 billion in client assets.