ATLANTA, Aug. 24, 2015 /PRNewswire/ -- SFA Holdings, Inc., the parent company of The Strategic Financial Alliance, Inc. ("SFA"), today announced that it has completed the acquisition of MerCap Securities, LLC, a Pennsylvania-based privately-held independent broker-dealer supporting Series 6 registered representatives. MerCap Securities registered representatives focus principally on providing insurance-based solutions to retail investors. SFA is an independent, privately owned provider of brokerage and advisory services and solutions to independent financial advisors nationwide.
Based in Paoli, PA, near Philadelphia, MerCap supports 90 registered representatives in 20 states, with a primary concentration in the Northeast. MerCap will continue to operate as a stand-alone entity under its current senior leadership team, led by President and CEO Dale Pope, a longtime member of the broker-dealer community. Mr. Pope will report to Clive Slovin, CEO of SFA Holdings.
Commenting on the transaction, Mr. Slovin said, "We are delighted to finalize our holding company's first acquisition, which builds upon our tradition as a leading firm serving the specialized needs of independent financial advisors."
Mr. Slovin continued, "The key message to our industry through this transaction is also very exciting: We have positioned our company to be one of the few players in the industry that is successfully identifying and enabling new entrants into our space by providing professionals from related industries with a path to becoming independent advisors. In the past, the focus on bringing new recruits to the independent advisory space has oriented around areas such as the tax advice industry. We have chosen to partner with the insurance industry towards this goal. Our industry is clearly in need of adding to its ranks of qualified advisors, and we are leading the way forward with this transaction."
Mr. Slovin concluded, "Ultimately, SFA Holdings is truly business-model agnostic when it comes to whether MerCap registered reps choose to grow further within the insurance space or they choose to expand into comprehensive financial advisory work. The common theme that ties both broker-dealer firms within our holding company together is a shared commitment to enabling the growth of advisors' businesses by providing them with the resources and tools necessary to deliver exceptional end client experiences."
Financial terms of the transaction, which has been completed, were not disclosed.
About MerCap Securities
MerCap Securities, LLC, based in Paoli, Pennsylvania, is a broker-dealer supporting registered representatives focused on providing retail clients with insurance-based products and solutions. MerCap Securities provides support to 90 advisors in 20 states, primarily in the Northeast.
About the Strategic Financial Alliance
The Strategic Financial Alliance empowers independent financial advisors by providing them with the support necessary for developing their businesses and helping their clients achieve their financial objectives. SFA offers an extensive selection of carefully vetted investment and insurance solutions and a wide range of practice management resources. The firm maintains a high-touch, personalized relationship with each of its advisors, and grows by seeking advisors who possess high standards, have a passion for helping their clients, and enjoy sharing with fellow advisors as part of a true community. SFA supports approximately 150 independent advisors across the country, with nearly $4 billion in brokerage and advisory assets as of December 31, 2014. For more information, please visit: www.thesfa.net.
SOURCE SFA Holdings, Inc.