MINNEAPOLIS –August 17, 2011 –Ameriprise Financial, Inc. (NYSE: AMP) today announced that it has signed a definitive agreement to sell Securities America Financial Corporation and its subsidiaries to Ladenburg Thalman Financial Services, Inc. (NYSE Amex: LTS) for $150 million in cash and potential future payments if Securities America reaches certain financial criteria. La Vista, Neb.-based Securities America is an independent broker-dealer with approximately 1,700 financial advisors.
The transaction, which requires standard regulatory approvals, is expected to close by the end of 2011.
Ameriprise Financial, Inc. is a diversified financial services company serving the comprehensive financial planning needs of the mass affluent and affluent. For more information, visit ameriprise.com