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California: News and Insight on Business in the Golden
State | THE STATE / FINANCIAL SERVICES

Sun America Acquires 2 San Diego Firms

April 03, 1998|Dow Jones News Service

Sun America Inc. has acquired San Diego broker-dealers Sentra Securities Corp. and Spelman & Co. Sun America said Richard and Kaye Woltman, principal owners of Sentra and Spelman, will continue to run the two companies in San Diego as units of Sun America Financial Network. Spelman and Sentra have a total of about 500 registered representatives in the U.S. The Sentra-Spelman organization also provides operational back-office services to three other broker-dealers with networks of more than 1,200 representatives. Los Angeles-based Sun America is a financial services company. With the acquisition, the company's broker-dealer force now totals about 9,400 representatives. Sun America shares rose $1.88 to close at $49.44 on the NYSE.

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