Independent broker-dealer network Ladenburg Thalmann has hired due diligence veteran Thayer Gallison as the head of the publicly traded firm’s newly created due diligence platform.
The Miami, Florida-based firm has more than 4,000 financial advisors and counts a network of five independent advisory and brokerage firms (IAB) consisting of Securities America, Triad Advisors, Investacorp, KMS Financial Services and Securities Service Network.
The newly launched platform will provide product analysis, due diligence and ongoing performance monitoring for all five subsidiaries.
Based in Atlanta, Georgia, Gallison will report directly to Ladenburg’s chief risk officer, Craig Timm. He will manage all existing due diligence team members across the five subsidiaries and continue to build out the platform by developing, implementing and monitoring due diligence policy and management.
Prior to joining Ladenburg, Gallison spent around seven years at another independent broker-dealer network, Advisor Group where he held multiple roles.
Most recently, he served as the firm’s vice president for investment research and product due diligence, where he developed and implemented all investment research, due diligence and product strategy. He was also a senior investment analyst at MV Capital Management from 2006 to 2011.
‘Our new platform substantially augments the existing capabilities of each of our subsidiaries in product due diligence and oversight, crucial areas that would otherwise consume considerable bandwidth among each firm’s home office staff,’ said Richard Lampen, president and chief executive of Ladenburg.
Ladenburg Thalmann had client assets of $152.8 billion as of September 30 2017, including $66.2 billion of advisory assets under management and cash balances of $4.1 billion.