Market Overview

The Legend Group® to Be Acquired by First Allied


The Legend Group announced today that First Allied Holdings Inc. has entered into an agreement to acquire the firm.

The Legend Group and First Allied share similar services and values creating an environment ripe for a union. First Allied consists of several operating subsidiaries, including an independent broker/dealer, registered investment adviser, asset management firm, a retirement services business and insurance services.

“We are confident in this move to enhance our value and services to our clients and advisors,” said The Legend Group's CEO, Mark Spinello. “This provides us with access to new growth opportunities as well as solidifies our commitment to our mission by aligning with a partner company that shares our independent roots and has common goals,” continues Spinello.

Shashi Mehrotra, President, commented, “The commonalities in our companies' business goals and values of teamwork, innovation and integrity create a perfect match for us. First Allied provides a wealth of resources and an exciting future for both of our companies.”

The Legend Group will continue to operate under its current brand as a stand-alone, sister company to First Allied. The companies will seek to explore synergies within the organizations, which will likely translate to an expansion of services and programs offered to advisors and clients.

About The Legend Group®

The Legend Group is a unique investment services provider offering quality investment solutions for our clients for nearly 50 years. We provide a wide variety of products to our clients with premier personalized service and attention. The Legend Group of companies provide investment solutions for retirement, education savings plans, insurance needs, income generation and professional portfolio management. The corporate headquarters is located in Palm Beach Gardens, Florida, with additional offices around the country.

About First Allied

Headquartered in San Diego, California, First Allied is a full-service, independent financial services organization with about 1,000 financial advisors in 500 branches throughout the U.S. First Allied has a proven program to grow independent advisors' businesses to be more financially successful and professionally rewarding. First Allied invests heavily to enrich advisors and help them optimize and monetize their businesses, building lasting personal relationships based upon trust, service and success.

For more information about The Legend Group or First Allied, please visit and

The Legend Group
Regina Rudnick, 561-694-0110

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