Ladenburg Thalmann Financial Services Inc. is a financial services company engaged in independent brokerage and advisory services, investment banking, equity research, institutional sales and trading, asset management services, wholesale life insurance brokerage and trust services through its subsidiaries. The Company's subsidiaries include Ladenburg Thalmann & Co. Inc. (Ladenburg), Ladenburg Thalmann Asset Management Inc. (LTAM), Highland Capital Brokerage, Inc. (Highland) and Premier Trust, Inc. (Premier Trust). The Company operates through three segments: the independent brokerage and advisory services segment, the Ladenburg segment and the insurance brokerage segment. The independent brokerage and advisory services segment includes the broker-dealer and investment advisory services. The Ladenburg segment includes the investment banking and trading management services and investment activities. The insurance brokerage segment includes the wholesale insurance brokerage activities.