MIAMI, Aug. 13, 2019 /PRNewswire/ -- Ladenburg Thalmann
Financial Services Inc. (NYSE American: LTS, LTS PrA, LTSL, LTSF,
LTSK, LTSH) ("Ladenburg"), a publicly-traded diversified financial
services company, today announced an investment in Newday Financial
Technologies Inc. ("Newday"), a San
Francisco-based startup focused on delivering easily
accessible, low-cost impact investing strategies that align with
the values of investors, with a target audience of new investors,
especially Millennials.
Newday is the second strategic investment by the Ladenburg
Innovation Lab since its launch two years ago, and follows its
investment in Track Technologies in July
2018. The transaction reflects the Ladenburg Innovation
Lab's strategy of investing in early-stage companies that seek to
capture opportunities shaped by transformative social, economic and
cultural trends and adapting the unique tools and solutions
developed by these startups for use by Ladenburg's five independent
advisory and brokerage firm subsidiaries: Securities America, Triad
Advisors, Investacorp, KMS Financial Services and Securities
Service Network (SSN). Financial details of the transaction were
not disclosed.
Adam Malamed, Executive Vice
President and Chief Operating Officer of Ladenburg, said, "Our
strategic investment in Newday further advances the Ladenburg
Innovation Lab's mission of identifying the most important
macro-trends that are fundamentally shifting how people think about
and consume financial advice, and investing in startups that seek
to address these trends. By seeking to help Ladenburg's financial
advisors capitalize on these macro-trends, our Innovation Lab is
amplifying our broader mission of aligning Ladenburg's financial
capital, intellectual capital, technology and other growth
resources with our financial advisors to drive their success."
Newday encourages values-based investors to engage more
meaningfully in the causes they care most about, including
investing in those causes. Newday's platform allows users to make
impact-oriented investments as low as $5 in portfolios designed to align with values
such as environmental sustainability, animal welfare and gender
equality.
Dan Sachar, Vice President for
Enterprise Innovation at Ladenburg and Head of the Ladenburg
Innovation Lab, said, "Our investment in Newday reflects our belief
that Millennials and the generations that follow will continue to
both seek out technology-enabled entry points into the world of
investing and prioritize cause- or mission-based investing that
aligns with their values. Younger investors want to be engaged
citizens of their communities and the world, and Ladenburg and
Newday want to help those clients meet this need."
Founded in 2017, Newday is an institutional asset management
organization that its founders Alexander
Meek and Anthony Randazzo
established as a democratized channel through which investors could
align their values with their investment strategy. The firm has
seven investment funds oriented around United Nations sustainable
development goals:
- Global Sustainable Impact Portfolio;
- Ocean Health Investment Portfolio;
- Climate Action Investment Portfolio;
- Animal Welfare Investment Portfolio;
- Fresh Water Investment Portfolio;
- Gender Equality Investment Portfolio;
- Conscious Leaders Investment Portfolio.
Newday Founder Alexander Meek
said, "We're not only helping our users align their values with
their investing strategy, but we're offering a tangible,
technology-enabled solution for virtually anyone to participate.
Many of Newday's users, prior to investing in our portfolios,
didn't feel as though they had any way to make their dollars
reflect their values. We are giving them that channel, for an
initial investment as little as $5."
Newday CEO and Founder Douglas
Heske commented, "With Ladenburg's support we aim to
continue to be a valued partner for the next generation of
investors in the coming decades as much of the accumulated wealth
of the baby boomers shifts to their children and grandchildren.
Ladenburg is looking to the future intersection of impact investing
and financial advice, and we are excited about shaping the future
of mission-driven wealth management."
About Ladenburg Thalmann
Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS,
LTS PrA, LTSL, LTSF, LTSK, LTSH) is a publicly-traded diversified
financial services company based in Miami, Florida. Ladenburg's subsidiaries
include industry-leading independent advisory and brokerage (IAB)
firms Securities America, Triad Advisors, Securities Service
Network, Investacorp and KMS Financial Services, as well as Premier
Trust, Ladenburg Thalmann Asset Management, Highland Capital
Brokerage, a leading independent life insurance brokerage company
and full-service annuity processing and marketing company, and
Ladenburg Thalmann & Co. Inc., an investment bank which has
been a member of the New York Stock Exchange for over 135 years.
The company is committed to investing in the growth of its
subsidiaries while respecting and maintaining their individual
business identities, cultures, and leadership. For more
information, please visit www.ladenburg.com.
About Newday Financial Technologies Inc.
Based in San Francisco, Newday
is a technology-enabled asset manager that provides affordable,
transparent and easy-to-understand impact investment solutions to
the mass market. By investing in socially responsible and
sustainable companies, Newday aims to generate competitive return
and, most importantly, drive meaningful change in the way companies
in our portfolios adopt environmental, social and governance (ESG)
practices and policies. In order to be effective in driving
positive impact on corporate behavior, Newday adopts an active
ownership model, engaging with companies' decisions as they affect
their stakeholders including communities, employees and
shareholders.
Media Contacts:
Chris
Clemens / Mitch Manning
Haven Tower Group
424 317 4854 or 424 317 4858
cclemens@haventower.com or mmanning@haventower.com
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SOURCE Ladenburg Thalmann Financial Services Inc.