Ameriprise is acquiring the B/D from Security Benefit Corporation (SBC) of Topeka, Kansas. According to a news release, under the acquisition plan, Brecek & Young Advisors’ employees and advisers will become affiliated with Securities America, Inc. in late 2008, subject to regulatory approval.

The addition of Brecek & Young Advisors represents approximately $42 million in gross revenues, more than $1.3 billion in fee-based assets under management, and more than 300 producing financial advisers. After the transition, Securities America will serve approximately 2,000 independent advisers with an estimated $550 million in revenue and $15 billion in fee-based assets under management, according to the release. The terms of the transaction were undisclosed.

“This acquisition is a natural progression of the success we have cultivated over the past 24 years,’ said Steve McWhorter, chairman and CEO of Securities America, in the release. “It further demonstrates that Securities America is a top-tier independent broker/dealer and that we are committed to growth. This is a great fit because our cultures and product mixes are very similar. In addition, Brecek & Young’s award-winning, service-oriented reputation will complement Securities America’s history of extraordinary service as our advisers’ business growth expert.’

Securities America said the acquisition will give its current advisers access to Iron Point Capital Management, Brecek & Young’s internal asset management program, as well market expertise, such as 403(b) issues. Securities America said overall the merge will give advisers from both firms a much larger pool of other successful advisers with whom they can network for best practices, as well as business succession and acquisition planning.