The deal is expected to close by the end of the year and will bolster Ladenburg’s client assets to around $70 billion. Based on the trailing 12-month period, the combined company would have had approximately $675 million in revenue.

The acquisition is being financed by an affiliate of Dr Philip Frost, Ladenburg’s principal shareholder and chairman of the board, the firm said in a statement. Additional performance-related payments are possible, and it is understood these relate to targets set for 2012 and 2013.

The firm declined to comment on further details of the agreement.

Securities America, an independent broker-dealer and investment advisor, counts around 1,700 financial professionals in its employment and $50 billion in client assets. Of these assets, it manages around $15 billion through its investment advisor subsidiaries.

It is expected that the acquired company will retain its brand and core focus, as well as its current employees, offices and business affiliations.

The senior management team will also remain in place, with Jim Nagengast, president and chief executive of Securities America, continuing to run the firm as a stand-alone business from its current headquarters in La Vista, Nebraska, Ladenburg Thalmann said in its statement.

“The acquisition of Securities America is a transformative transaction for Ladenburg, enabling us to immediately bolster our position in the vibrant independent broker-dealer space and provide a platform for future growth,” said Dr Frost.

“This strategic combination is consistent with Ladenburg’s long-stated goal to grow into a more diversified financial services firm with a stable, growing revenue stream from our independent broker-dealer business to balance our capital markets and investment banking areas,” he added.