{"id":638,"date":"2010-01-29T14:23:51","date_gmt":"2010-01-29T14:23:51","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2010\/01\/troubled_gunnallen_securities"},"modified":"2010-01-29T14:23:51","modified_gmt":"2010-01-29T14:23:51","slug":"troubled-gunnallen-securities","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/troubled-gunnallen-securities\/","title":{"rendered":"Troubled GunnAllen Securities to be Acquired by Progressive Asset Management as Lawyers for Investors Investigate the Sale."},"content":{"rendered":"

\t\t\t\tAfter undergoing major litigation costs, GunnAllen Financial Inc. has agreed to be acquired by Progressive Asset Management Inc., which already controls a smaller broker-dealer. Progressive claims to be a “socially conscious” investment firm.<\/p>\n

The combination of the firms would appear to create a broker-dealer with about 1,000 independent advisors and brokers in more than 200 offices nationwide. If so, the resulting firm would be ranked in the 30 largest independent broker-dealers, according to information available from InvestmentNews.<\/p>\n

The terms of the acquisition have not been disclosed, according to David Levine, executive vice president of Progressive, who also did not specify whether his firm would be acquiring GunnAllen’s broker-dealer firm or only its advisers and assets. Often buyers of troubled securities firms seek to buy only the assets leaving behind creditors with little or nothing, including former clients of the firm who have ongoing suits and claims.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

After undergoing major litigation costs, GunnAllen Financial Inc. has agreed to be acquired by Progressive Asset Management Inc., which already controls a smaller broker-dealer. Progressive claims to be a “socially conscious” investment firm. The combination of the firms would appear to create a broker-dealer with about 1,000 independent advisors and brokers in more than 200 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3848],"tags":[],"class_list":["post-638","post","type-post","status-publish","format-standard","hentry","category-gunnallen-financial"],"yoast_head":"\nGunnAllen Securities to be Acquired by Progressive Asset Management — Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"GunnAllen Financial Inc. has agreed to be acquired by Progressive Asset Management Inc., which already controls a smaller broker-dealer.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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