D.A. Davidson is expanding through a merger with a small brokerage and the rebranding of its Crowell Weedon division.
Davidson this week agreed to merge with Smith Hayes, a small brokerage based in Lincoln, Neb., adding 30 advisors to the regional B-D's Individual Investor Group, as well as offices in Omaha and Columbus, the firm said. Terms of the merger were not disclosed.
After the deal's completion, Davidson is expected to have a total of about 400 advisors, a spokeswoman said. Smith Hayes also is expected to add about $4 billion in assets to the regional B-D, increasing Davidson's total assets to $40 billion, the spokeswoman said. Davidson is based in Great Falls, Mont.
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In other expansion efforts,
Former Smith Hayes chairman Tom Smith will become a vice chairman for the group upon the deal's closing. Former Smith Hayes CEO John Decker will oversee all Nebraska operations for the group.
“These combined teams will provide clients with a broader offering of services," Smith Hayes says in a statement. "I look forward to sharing my industry knowledge with D.A. Davidson’s Individual Investor Group within these key markets as well as nationally.”
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