Investacorp is a privately-held, full service broker/dealer, registered with FINRA. It was acquired from the firm’s Chairman and Chief Executive Officer, Bruce Zwigard, and a related seller for $25 million in cash at closing and an additional $15 million in cash payable over a three-year period, a company announcement said.
Zwigard and Investacorp’s management team will continue to operate Investacorp as a stand-alone business based out of its Miami Lakes headquarters. Investacorp registered representatives and investment advisers will continue to operate under the traditional independent broker model, but will have access to additional tools and resources, according to the announcement.
“This significantly enhances the opportunities to expand our business and better serve our Registered Representatives. As a stand-alone entity within Ladenburg, we will maintain our culture and continue to provide the independent financial services and counsel to which our Registered Representatives and their clients have grown accustomed,” said Bruce Zwigard, President and Chief Executive Officer of Investacorp.
Ladenburg Thalmann Financial Services is engaged in retail and institutional securities brokerage, investment banking, research, and asset management services through its principal operating subsidiary, Ladenburg Thalmann & Co. Inc., a full service investment banking and brokerage firm providing services principally for middle market and emerging growth companies and high net worth individuals.