Advanced Capital completes purchase of broker-dealer Lake Forest Securities

Advanced Capital Securities, a Miami-based investment bank that focuses on emerging companies and institutional and individual investors in Latin America, said Friday that it completed the purchase of Lake Forest Securities LLC. The Chicago-based broker-dealer specializes in high-grade corporate fixed income securities and municipal bonds. Lake Forest Securities, which operates in Illinois, Ohio, Wisconsin, Michigan, Texas and Florida, will now operate under the name AdCap Securities.

With the acquisition, Advanced Capital said it will expand its U.S. client base and broaden its product offerings and research capabilities for its international clients, primarily in Latin America. Advanced Capital has brokerage, capital markets and asset management operations in Argentina, Uruguay and Peru.

The company said the acquisition is another key piece in its regional capital markets strategy. In February, Advanced Capital acquired Latmark Asset Management LLC, a boutique investment advisor based in Miami.