UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instructions 1(b). 1. Name and Address of Reporting Person Rosenstock, Richard J. c/o Ladenburg Capital Management Inc. 1055 Stewart Avenue Bethpage, NY 11415 USA 2. Issuer Name and Ticker or Trading Symbol Ladenburg Thalmann Financial Services Inc. LTS 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Year August 31, 2002 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other (specify below) Vice Chairman and Chief Operating Officer 7. Individual or Joint/Group Filing (Check Applicable Line) (X) Form filed by One Reporting Person ( ) Form filed by More than One Reporting Person
___________________________________________________________________________________________________________________________________ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| Common Stock, par value $.0|8/20/0|P | |3,200 |A |$0.2407 | |I |(1) | 001 per share |2 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock, par value $.0|8/21/0|P | |1,700 |A |$0.2708 | |I |(1) | 001 per share |2 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock, par value $.0|8/22/0|P | |2,700 |A |$0.30 |3,696,846 |I |(1) | 001 per share |2 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | |or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | |Date |Expir| | |ficially |Ind| | |tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| | |Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | | |rity |Date |Code|V| Amount | |ble | | | |Month |(I)| | ___________________________________________________________________________________________________________________________________| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: (1) These shares are held of record by The Richard J. Rosenstock Revocable Living Trust Dated 3/5/96 of which the reporting person is the sole trustee and beneficiary. CONFIRMING STATEMENT - ------------------------------- This Statement confirms that the undersigned has authorized and designated Victor M. Rivas, Salvatore Giardina or Joseph Giovanniello Jr. to execute and file on the undersigned's behalf all Forms 3, 4 and 5 (including any amendments thereto) that the undersigned may be required to file with the United States Securities and Exchange Commission as a result of the undersigned's ownership of or transactions in securities of Ladenburg Thalmann Financial Services Inc. The authority of Victor M. Rivas, Salvatore Giardina and Joseph Giovanniello Jr. under this Statement shall continue until the undersigned is no longer required to file Forms 3, 4 or 5 with regard to the undersigned's ownership of or transactions in securities of Ladenburg Thalmann Financial Services Inc. unless earlier revoked in writing. The undersigned acknowledges that Victor M. Rivas, Salvatore Giardina and Joseph Giovanniello Jr. are not assuming any of the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of 1934. /s/ Richard J. Rosenstock Richard J. Rosenstock Dated: August 15, 2002 SIGNATURE OF REPORTING PERSON /s/ Richard J. Rosenstock DATE September 5, 2002