Investors Security Company Inc., a broker-dealer in Suffolk, Va., has agreed to become an affiliate of Securities America, the nation's eighth-largest broker-dealer.
Securities America, based in La Vista, Neb., is a subsidiary of Ladenburg Thalmann Financial Services. Investors Security has 130 registered representatives and will be one of Securities America’s largest branches. Securities America has acquired the $1 billion in assets of Investor Security but the representatives of Investor Security will remain independent contractors of Securities America, according to Securities America. The clients of Investors Security will retaiin their relationships with the firm.
Investors Security will keep its name and will be led by Christopher Holloway, who was recently named president and has been a managing director at the company since 1999, and Cabell Birdsong, the broker-dealer's founder and CEO.
“I have spent time with the executives from Securities America and Ladenburg Thalmann and have found them to be quality individuals running a strong broker-dealer that is committed to the advisor experience,” Birdsong said, explaining the decision to affiliate with Securities America.