Exhibit 21
SUBSIDIARIES OF REGISTRANT
The following are wholly-owned subsidiaries of the registrant:
| NAME | STATE OF ORGANIZATION |
| Securities America Financial Corporation | Nebraska |
| Securities America, Inc. | Delaware |
| Securities America Advisors, Inc. | Nebraska |
| Brecek & Young Advisors, Inc. | California |
| Ladenburg Thalmann & Co. Inc. | Delaware |
| Ladenburg Thalmann Asset Management Inc. | New York |
| Investacorp, Inc. | Florida |
| Investacorp Advisory Services Inc. | Florida |
| Triad Advisors, Inc. | Florida |
| Premier Trust, Inc. | Nevada |
Not included above are other subsidiaries which, if considered in the aggregate as a single subsidiary, would not constitute a significant subsidiary, as such term is defined by Rule 1-02(w) of Regulation S-X.