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Gunn Allen completes acquisition of Pointe Capital

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Financial services company Gunn Allen has completed its acquisition of 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 USD5.8bn of assets under management and operating from more than 200 branch offices nationwide.

The acquisition of Pointe Capital demonstrates GunnAllen’s implementation of its stated commitment to expansion through organic and strategic acquisition growth. 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 organisation in the marketplace.

"We are excited about the opportunities the Pointe acquisition brings to GunnAllen and at the prospects for the total organisation," says Scott J. Bendert, chairman of GunnAllen Financial. "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 chief executive 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 organisation."

"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, Royal Bank of Canada and Penson Worldwide, 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," says Richardson.

Gunn Allen Holdings 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 and Pointe Capital. Additional retail and corporate services are offered through GAF Insurance Services, , which serves as an insurance broker for insurance products offered and sold through GunnAllen Financial and Pointe Capital, and GunnAllen Tax Services, which offers tax preparation, estate and trust services.

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