Acquisition Reinforces LTAIS’ Efforts to
Align Annuity Solutions with Independent Firms and Advisors Across
the Country
Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS,
LTSL, LTS PrA, LTSF, LTSK) (“Ladenburg”), a publicly-traded,
diversified financial services company, announced today that its
Ladenburg Thalmann Annuity Insurance Services LLC (“LTAIS”)
subsidiary has purchased certain assets of the insurance
distribution business operated by Kestler Financial Group, Inc.
(“KFG”), a leading independent distribution company (“IDC”) located
in Leesburg, Virginia.
Under the terms of an asset purchase agreement, LTAIS purchased
certain KFG assets, including the rights to the "Kestler Financial
Group" name and brand, as part of an ongoing strategy for LTAIS to
reinforce its position as a leading distributor of annuity
solutions for independent financial advisors throughout the
country. The acquisition is expected to generate important benefits
for the Ladenburg insurance and annuity platform, which consists of
LTAIS and Ladenburg’s complementary subsidiary Highland Capital
Brokerage, a leading independent brokerage of life insurance
solutions nationwide.
Founded in 1993 by father and son Tom and Jason Kestler, KFG has
established itself as one of the nation’s leading distributors of
annuities, life insurance, long term care insurance and disability
insurance by identifying, recruiting, and training independent
insurance agents, registered representatives and financial planners
nationwide. The firm brings strong client relationships to
Ladenburg’s insurance and annuity platform, including selling
agreements with over 20 independent broker-dealers, RIAs and other
firms representing more than 3,000 affiliated financial
advisors.
Richard Lampen, President and Chief Executive Officer of
Ladenburg, said, “We are very pleased to welcome the Kestler team
to the Ladenburg family. This is a significant step forward in our
strategic vision for LTAIS and the entire Ladenburg insurance and
annuity platform, especially with respect to reinforcing our
leadership position in the independent financial advice space at a
time when insurance and annuity solutions are becoming increasingly
important to individuals and families across the country.”
Jim Gelder, CEO of LTAIS, said, “Kestler Financial Group has a
long, successful history in the fixed index space working with the
financial advisors of independent broker-dealers across the
country. Jason and Tom Kestler are well-known and highly respected
thought leaders in this market, and we’re excited to bring them
into our organization. With the longstanding client relationships
the Kestler team has formed and the industry-leading capabilities
they bring to our organization, the Ladenburg insurance and annuity
platform will be exceptionally well-positioned to shape the future
of this space.”
KFG is one of the few IDCs with a service model that effectively
addresses the needs of insurance-only advisors, registered
representatives and investment advisor representatives in the RIA
space. LTAIS will benefit from KFG’s deep and specialized expertise
in marketing, sales and operations in the annuity and insurance
sector. The acquisition will also enable LTAIS’ existing sales team
to expand and strengthen the support it provides advisors
affiliated with Ladenburg’s independent advisory and brokerage
(IAB) subsidiaries, by giving the LTAIS sales team access to robust
lead generation capabilities through social media, seminars and
other channels.
The Kestler team will operate from their current headquarters in
Leesburg, Virginia, as part of LTAIS. Effective immediately, Jason
Kestler will become part of the Highland executive management team,
while also serving as President of the Kestler Financial Group
Division within LTAIS.
Jason Kestler, President of KFG, said, “This announcement marks
the start of an exciting new period of growth for our insurance
distribution business. We’ve established our organization by
focusing on creating one-to-one relationships with our advisors,
built on a foundation of mutual respect and exceptional service.
It’s very clear to us that LTAIS, Highland Capital and Ladenburg
share the Kestler team’s longstanding focus on advisor service, and
that becoming part of the Ladenburg family of companies will
amplify our ability to assist advisors in growing their practices
in an area that is crucial to millions of households, business
owners and individuals across the country who are seeking to
maximize their financial security over the long run.”
About Ladenburg
Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS,
LTSL, LTS PrA, LTSF, LTSK) is a publicly-traded diversified
financial services company based in Miami, Florida. Ladenburg’s
subsidiaries include industry-leading independent advisory and
brokerage (IAB) firms Securities America, Triad Advisors,
Securities Service Network, Investacorp and KMS Financial Services,
as well as Premier Trust, Ladenburg Thalmann Asset Management,
Highland Capital Brokerage, a leading independent life insurance
brokerage company, Ladenburg Thalmann Annuity Insurance Services, a
full-service annuity processing and marketing company, and
Ladenburg Thalmann & Co. Inc., an investment bank which has
been a member of the New York Stock Exchange for over 135 years.
The company is committed to investing in the growth of its
subsidiaries while respecting and maintaining their individual
business identities, cultures, and leadership. For more
information, please visit www.ladenburg.com.
About LTAIS
Ladenburg Thalmann Annuity Insurance Services LLC (“LTAIS”) is a
wholly owned subsidiary of Ladenburg Thalmann Financial Services
Inc. LTAIS is a full-service annuity processing and marketing
platform offering advisors proprietary and industry-leading
technologies, contracting and licensing, and in-house annuity
experts. The company’s sales support team works in close
coordination with financial advisors to ensure that the products
being offered are in the best interest of the client. For more
information, visit the LTAIS website at ladenburgannuity.com.
About Kestler Financial Group
Kestler Financial Group, Inc. (“KFG”) is a valued resource for
thousands of independent advisors nationwide. KFG delivers products
and tools built on a robust platform for their clients to run and
grow their practices more successfully. Members of the KFG team
have a rich history of being thought leaders in the annuity
distribution channel, and the firm has found its niche providing
insurance and annuity solutions within the securities industry. For
more information, visit the KFG website at
kestlerfinancial.com.
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements regarding future growth, growth of
our independent advisory and brokerage business and growth of our
insurance and annuity business. These statements are based on
management’s current expectations or beliefs and are subject to
uncertainty and changes in circumstances. Actual results may vary
materially from those expressed or implied by the statements herein
due to changes in economic, business, competitive and/or regulatory
factors, including the SEC’s proposed rules and interpretations
concerning the standards of conduct for broker dealers and
investment advisers when dealing with retail investors, future cash
flows, a change in the Company’s dividend policy by the Company’s
Board of Directors (which has the ability in its sole discretion to
increase, decrease or eliminate entirely the Company’s dividend at
any time) and other risks and uncertainties affecting the operation
of the Company’s business. These risks, uncertainties and
contingencies include those set forth in the Company’s annual
report on Form 10-K for the fiscal year ended December 31, 2017 and
other factors detailed from time to time in its other filings with
the SEC. The information set forth herein should be read in light
of such risks. Further, investors should keep in mind that the
Company’s quarterly revenue and profits can fluctuate materially
depending on many factors, including the number, size and timing of
completed offerings and other transactions. Accordingly, the
Company’s revenue and profits in any particular quarter may not be
indicative of future results. The Company is under no obligation
to, and expressly disclaims any obligation to, update or alter its
forward-looking statements, whether as a result of new information,
future events, changes in assumptions or otherwise, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20180905005181/en/
Haven Tower GroupMichael Dugan / Jessica Caris424-652-6520 ext.
106 or ext. 104mdugan@haventower.com or jcaris@haventower.com
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