Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 29 n° 341

Ladenburg Reports Second Quarter 2017 Financial Results

Posted by fidest press agency su sabato, 12 agosto 2017

miamiMiami. Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA) announced financial results for the three and six months ended June 30, 2017.Dr. Phillip Frost, Chairman of Ladenburg, said, “The second quarter of 2017 was another strong quarter for Ladenburg, with revenues of $311.5 million increasing by 15.5% from the prior year, while adjusted EBITDA increased during the quarter by 25.2% to $13.2 million. We remain encouraged by the impact improving market conditions and higher interest rates are having on both our independent advisory and brokerage and capital markets businesses. We believe these factors, combined with high levels of recruiting, position us well for continued growth and success in the second half of the year and beyond. We are tremendously proud of our nationwide network of approximately 4,000 independent advisors, which provides clients with high quality, trustworthy services.”Richard Lampen, President and Chief Executive Officer of Ladenburg, said, “Ladenburg continues to strengthen its position as a leader in the independent advisory and brokerage business. We believe this business remains one of the fastest growing segments of the financial services industry, as our financial advisors provide needed independent advice, financial planning and investment solutions to the mass affluent segment of ‘Main Street America’. This is reflected in year-over-year growth at June 30, 2017 of 15.9% in total client assets to $147.9 billion and 20.5% in advisory assets under management to $63.4 billion, both record amounts. We are focused on improving margins through driving increased recurring revenues and shared services, and managing all of our operating segments efficiently. Ladenburg remains committed to generating strong returns and driving sustainable growth, and our announcement today that we are initiating a quarterly dividend on our common stock reflects our long-term commitment to delivering value for our shareholders.”

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