SAN FRANCISCO, Dec. 2, 2010 /PRNewswire/ -- Merriman Holdings, Inc. (Nasdaq: MERR) today announced that Merriman Capital, Inc. and Scarsdale Equities LLC ("Scarsdale") have established a strategic partnership, creating investment banking and advisory referrals, as well as OTCQX collaborations.
"I'm pleased to welcome key principals of Scarsdale Equities as investors and the firm as a strategic partner," said Jon Merriman, co-chairman of Merriman Holdings, Inc. "Our team has built deep relationships with Scarsdale's senior management over the years, and we look forward to building out our respective investment banking pipelines and accessing Scarsdale's network of sophisticated private investors. This agreement also adds to our product distribution, and we are excited about our association with an exceptional group of investors."
"We have worked with Merriman Capital's staff on several banking assignments. They have earned our respect for their professionalism and honesty, and we are delighted to have the opportunity to build upon our mutual and complementary strengths for the benefit of each firm's clients. Merriman's institutional sales force should permit us to expand our distribution capability beyond our existing client base," said Frank Mlynarczyk, CEO of Scarsdale Equities LLC.
Merriman added, "We will continue to look for strategic partnership opportunities with like-minded broker/dealers and investment banks as we grow our core businesses of researching, advising, financing and trading fast-growing companies."
About Scarsdale Equities LLC
Scarsdale Equities LLC is an institutional broker/dealer located in New York City. The founding members of Scarsdale Equities LLC are veterans of the U.S. financial services industry as investment bankers, investors, and analysts. The firm's services include investment banking, institutional equity brokerage, discretionary account management, and start-up consulting and advisory services for money managers. Special investment banking focus is devoted to: 1) extractive industries, including oil and gas, energy services, and mining of precious metals, base metals, and fertilizers, 2) healthcare financing, in which Scarsdale has built a healthcare group staffed by professionals with extensive formal education and experience in the medical devices, diagnostics and therapeutics fields, 3) specialty real estate, and 4) alternative energy. The firm is a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corp. (SIPC). The firm's website is located at www.scarsdale-equities.com.
About Merriman Holdings, Inc.
Merriman Holdings, Inc. (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services. Merriman specializes in three industry growth sectors: Technology, CleanTech and Consumer, Media & Internet. For more information, please go to http://www.merrimanco.com/
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2010. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2010 and the Form 10-Q filed on November 15, 2010, together with this press release and the financial information contained herein, are available on our website, www.mcfco.com. Please click on "Investor Relations."
SOURCE Merriman Holdings, Inc.