St. Louis-based brokerage Benjamin F. Edwards continues to its slow-but-steady growth with its recruitment of Rick Balmaseda.
He joined the Danbury, Conn., branch as senior vice president-investments. With the addition of Balmaseda, the Danbury office now employs 12 financial professionals, according to a press release from the company. It did not disclose his assets-under-management. Balmaseda will report to Arnold H. Rozany, branch manager and senior vice president-investments.
Balmaseda began his career in the financial services industry almost 30 years ago when he joined Prudential Securities in 1984. Prudential was later acquired by Wachovia Securities, which was acquired by Wells Fargo Advisors in 2008.
As for Benjamin F. Edwards, the small brokerage has been selectively adding branches and advisors for the past two years. It was founded in 2008 by Benjamin F. “Tad” Edwards IV after Wachovia bought A.G. Edwards. Overall, the firm has 15 offices now in nine states across the country. In a previous interview with On Wall Street, Edwards said there was no specific growth strategy other than to go "wherever the right people are." The firm has since added branches in its home state of Missouri as well as Illinois, Georgia, Connecticut, New York, North Carolina, Ohio, Virginia and Wisconsin.