GREENVILLE, S.C. – Wagner Wealth Management has signed a deal for Triad Advisors, a subsidiary of Ladenburg Thalmann Financial Services, to serve as its independent broker dealer.
Wagner Wealth Management, which has $260 million in assets under advisement as a registered investment adviser (RIA), chose Triad to support its growth plans, said Dan Wagner, the firm’s president. The firm expects to close acquisitions with RIAs in the San Francisco, CA area and in Asheville, NC, by the end of this year, Wagner said.
The Atlanta-based Triad, which now works with around 600 advisors around the country, was bought by Ladenburg Thalmann in 2008 and has approximately $21 billion in assets under management. The company’s total revenues rose last year to $156 million, a 27 percent increase from 2012. That put Triad at 33 on the FP50 ranking of independent broker-dealers — a jump from the 38th spot in 2011.
Triad’s access to Ladenburg Thalmann’s investment banking services was a big draw for the firm, Wagner said.
“The investment banking relationship gives us more capabilities with our business owner clients, and gives them access to strategic capital for growth,” Wagner said.
The deal is part of what is known as a hybrid model, said Nathan Stibbs, Triad’s senior vice president of national business development.
“Hybrid advisors have their own brand and have built their fee-based business,” he said. “They have more flexibility, with access to multiple custodians, and they can provide a better platform for growth, including recruiting and/or acquiring other firms.”