Tampa, Florida based broker-dealer GunnAllen just completed its acquisition of Pointe Capital. The decision to purchase Pointe, also a Florida-based B-D, resulted from a John H. Sykes-led investment group's purchase of a controlling stake of GunnAllen Financial last November.

Pointe co-founder and CEO Paul Richardson will join GunnAllen, piloting the newly formed private equity management group. With the acquisition of Pointe, GunnAllen will consist of two broker-dealers, with a combined 750 affiliated registered representatives and $5.8 billion AUM.

"We are excited about the opportunities the Pointe acquisition brings to GunnAllen and at the prospects for the total organization," stated Scott J. Bendert, chairman of GunnAllen Financial, Inc. "This is an exciting time for our firm with the acquisition, the establishment and focus of specifically defined business lines and the positive signs associated with the effective evolution of our corporate culture."

Company Press Release

TAMPA, Fla., Sept. 17 -- Gunn Allen Holdings, Inc., the parent company of Tampa-based GunnAllen Financial, Inc., (collectively referred to as "GunnAllen") is pleased to announce the completion of its acquisition of Pointe Capital, Inc., ("Pointe" or "Pointe Capital") headquartered in Boca Raton, Florida. With the acquisition of Pointe, GunnAllen is comprised of two distinct broker-dealers with a combined 750 affiliated registered representatives approximating $5.8 billion of assets under management and operating from more than 200 branch offices nationwide.

The acquisition of Pointe Capital demonstrates GunnAllen's implementation of both its stated commitment to expansion through organic and strategic acquisition growth, as well as the ability to offer additional options and choices to affiliates throughout its independent business model. This direction commenced in November 2008 when an investor group, led by John H. Sykes, purchased a controlling stake of GunnAllen and initiated efforts to reestablish a sound business reputation and reposition the organization in the marketplace.

"We are excited about the opportunities the Pointe acquisition brings to GunnAllen and at the prospects for the total organization," states Scott J. Bendert, Chairman of GunnAllen Financial, Inc. "This is an exciting time for our firm with the acquisition, the establishment and focus of specifically defined business lines and the positive signs associated with the effective evolution of our corporate culture. The addition of Pointe Capital CEO and co-founder Paul Richardson, who will also be responsible for our newly formed Private Equity Management group, brings considerable experience and business acumen to the organization."

"GunnAllen and Pointe share the values which are critical to the successful operation of an independent financial services firm. In retail brokerage, it is important to have choice, flexibility and independence. I believe our shared values, Pointe's relationships with its established clearing partners, Legent Clearing LLC, Royal Bank of Canada and Penson Worldwide, Inc., and GunnAllen's expansive suite of products and services will allow us to better serve the needs of those providing and receiving retail brokerage services," states Paul Richardson.

Gunn Allen Holdings, Inc. is a diversified financial services holding company engaged in securities brokerage, securities trading, investment banking, and money management activities through its wholly owned subsidiaries GunnAllen Financial, Inc. and Pointe Capital, Inc., members FINRA/SIPC. Additional retail and corporate services are offered through GAF Insurance Services, Inc., which serves as an insurance broker for insurance products offered and sold through GunnAllen Financial and Pointe Capital, and GunnAllen Tax Services, Inc. which offers tax preparation, estate and trust services. For more information visit the firm's corporate web site www.gunnallen.com.

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE