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TAMPA — Financial firm JHS Capital Advisors has reached an agreement to purchase the retail operations of Paulson Investment Co. Inc., it announced in a news release. Terms of the deal were not disclosed.
The purchase will allow JHS to add to its national network of 100 advisers, who manage more than $2 billion in assets. Paulson Investment Co. has about 75 financial advisers who manage $1.1 billion in assets in the U.S. The firm is a wholly owned subsidiary of Portland, Ore.-based Paulson Capital Corp., a public company (NASDAQ: PLCC).
After the purchase, which must be approved by the Financial Industry Regulatory Authority, former Paulson advisers will become registered representatives of JHS, and continue to use RBC Correspondent Services for custody of client assets, which will minimize the impact on clients, the release says. Meanwhile, Paulson will continue to operate as a broker/dealer focusing on boutique investment banking.
JHS Capital Advisors is a financial firm with clients throughout the United States. Founded in 2009 by John H. Sykes, the firm is headquartered in Tampa.
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