JHS Capital To Buy Out Paulson's $1.1B Retail Biz

Law360, New York (February 29, 2012, 4:13 PM EST) -- Florida-based securities broker JHS Capital Advisors has agreed to purchase the retail operations of Paulson Investment Co. Inc., which manages $1.1 billion of client assets, the companies announced Wednesday.

The deal will transfer 75 of Paulson Investment's advisers to JHS' operations, though the representatives will continue to use RBC Correspondent Services for custody of client assets and securities, trade execution and portfolio reporting, in order to minimize the impact on clients, JHS said. Financial details of the deal were not immediately disclosed.

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