Following a $160 million settlement with investors after they sued the Securities America over failed private placements that were sold by the firm’s brokers between 2003 and 2008, Ameriprise Financial Inc. put the firm up for sale. However, Securities America CEO Jim Nagengast claims that in the final stages of the running “the key issue is a retention package for the firm’s 1,800 reps.” Within the coming weeks potential buyers will finalize their proposals which will include structure, valuation, and approaches to financial advisor retention and/or equity participation.
For those Securities America registered representatives seeking to transition to another firm, Eccleston Law stands ready to advise those brokers in their transition by both consulting advisers as to whether they should transition and by serving as their counsel to effectuate a successful transition to a new firm. Our goal is to negotiate the most favorable employment terms for transitioning Securities America reps.
To discuss our transition services, please call one of our attorneys at 312-332-0000 for a free, no obligation consultation.
FinancialCounsel.com, hosted by James J. Eccleston, is a companion website to this blog, along with EcclestonLaw.com. It contains complementary material of general interest to investors and financial services professionals. Investors will find material on securities arbitration to recover investment losses; industry and financial markets intelligence; and strategies for estate planning. Professionals have access to material on broker/adviser registration, regulation, compliance and disciplinary proceedings; industry and financial markets intelligence; strategies for estate planning; and broker/adviser employment litigation and injunctions, including defamation and non-competition/solicitation issues. 
