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Ladenburg Thalmann unit acquires assets of Kestler Financial's insurance biz

Ladenburg Thalmann Financial Services Inc. unit Ladenburg Thalmann Annuity Insurance Services LLC has acquired certain assets of the insurance distribution business operated by Kestler Financial Group, Inc.

Under the terms of an asset purchase agreement, Ladenburg Thalmann Annuity Insurance purchased certain Kestler Financial assets, including the rights to the Kestler Financial Group name and brand.

The Kestler team will operate from their current headquarters in Leesburg, Va., as part of Ladenburg Thalmann Annuity Insurance. Effective immediately, Jason Kestler will become part of the Highland Capital Brokerage Inc. executive management team, while also serving as president of the Kestler Financial division within Ladenburg Thalmann Annuity Insurance.