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Ladenburg Thalmann Financial Services has announced that its subsidiary, Highland Capital Brokerage, has acquired certain assets of Four Seasons Financial Group (FSFG), an independent insurance and annuity distribution company based in New Jersey.
“Ongoing demographic shifts and escalating planning complexities associated with significantly longer average lifespans make it more crucial than ever for financial advisors and institutions to enjoy access to comprehensive insurance and annuity solutions, along with the tools to support client insurance needs in an efficient and streamlined manner,” said Richard Lampen, chairman, president and CEO of Ladenburg. “With this acquisition, we have further strengthened the Ladenburg insurance and annuity platform in this space, while reinforcing our mission of mobilizing Ladenburg’s intellectual capital, financial capital and other growth resources to deliver a superior level of value-added solutions for financial advisors and institutions across the country.”
FSFG, founded in 1993 by James J. Sorebo, is a national distributor of annuities, life insurance, hybrid long-term care insurance products and product design with a focus on the institutional market. The acquisition is expected to expand and deepen the services offered by Ladenburg’s insurance and annuity platform, while expanding its presence in the institutional segment through FSFG’s existing selling agreements with more than 200 banks and independent broker-dealers, as well as with other firms representing more than 5,000 financial advisors.
Under the terms of the acquisition, the FSFG team will continue to operate from its current headquarters in Marlton, N.J., as part of Highland. Sorebo will become part of the Highland management team.
“We are excited to welcome FSFG to Highland Capital Brokerage and the broader Ladenburg family,” said Highland CEO Jim Gelder. “Jim Sorebo is an established and very well-respected leader in our industry, and his experience and vision will bring significant benefits to our leadership team.”
“We are thrilled to announce this asset acquisition by Highland Capital Brokerage and to become part of the Ladenburg insurance and annuity platform,” Sorebo said. “Highland’s existing business is highly complementary to ours, while the Highland and Ladenburg team’s vision for continuing to extend their leadership in these crucial markets is a perfect fit with our growth strategy.”
