Ladenburg Thalmann Financial Services Inc. is engaged in independent brokerage and advisory services, investment banking, equity research, institutional sales and trading, asset management services and trust services through its principal subsidiaries, Ladenburg Thalmann & Co. Inc., Securities America, Investacorp, Inc., Triad Advisors, Inc., Ladenburg Thalmann Asset Management Inc. and Premier Trust, Inc. The Company has two operating segments: the independent brokerage and advisory services segment includes the broker-dealer and investment advisory services provided by Investacorp, Securities America and Triad to their independent contractor financial advisors and Premier Trust, which includes the wealth management services, and the Ladenburg segment includes the investment banking, sales and trading and asset management services and investment activities conducted by Ladenburg and LTAM. In November 4, 2011, the Company acquired Securities America Financial Corporation.