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.
In other expansion efforts, Davidson's Los Angeles-based Crowell Weedon division will be rebranded under the Davidson name. Crowell Weedon President Andrew Crowell also will serve as vice chairman of Davidson's Individual Investor Group.
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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