Legg Mason (LM) Announces Completion of Financial Guard Acquisition

August 17, 2016 5:08 PM EDT

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Legg Mason (NYSE: LM) announced that it has completed the acquisition of an 82% interest in Financial Guard LLC, an online Registered Investment Advisor and innovative technology-enabled wealth management and investment advice platform. The firm will operate as part of Legg Mason's alternative distribution strategies business, which focuses on combining technology with Legg Mason's investment affiliates' capabilities to better serve clients.

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