Summary: Consolidation among smaller and mid-sized firms has become a fact of life in our industry, and acquisitions are a staple of media coverage. What has received less attention has been the number of transactions in which the smaller firm seeks out a deal specifically to get out of the broker-dealer business and become an independent branch of the acquiring firm.
 If the right acquirer comes along, becoming a super OSJ – rather than getting absorbed into a monolithic, large firm with thousands of employees – may be the best possible path forward for such firms."Brian Kovack, president and co-founder, Kovack Securities |
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