Atlanta Life Financial Group today announced the acquisition of Jackson Securities

Two of the of America's oldest Black-owned financial services firms Atlanta Life Financial Group and Jackson Securities, LLC today announced the completion of there merger.

With this transaction, Atlanta Life Financial Group becomes majority-owner of Jackson Securities. Jackson will retain its name and senior management team. Current Jackson Securities President Rueben McDaniel III and CEO Dudley Brown, Jr. will report to Atlanta Life Financial Group's President and CEO, Ronald D. Brown. Mr. McDaniel and Dudley Brown will continue management of Jackson's day-to-day operations.

"Atlanta Life's acquisition of Jackson Securities is a phenomenal benchmark," said Ronald D. Brown, President and CEO, Atlanta Life Financial Group. "The acquisition of Jackson compliments and expands Atlanta Life's product and service portfolios. I believe all of our business units as well as our current and future customers will benefit."

"This was the right move at the right time," said Reuben McDaniel, III, President, Jackson Securities. "As a member of the Atlanta Life family, Jackson Securities is able to move into financial arenas that had previously been prohibitive. We welcome the challenges and opportunities ahead of us."

Investment banking is just one of Jackson's strong suits. The firm ranked 7th on the 2006 BE 100s Investment Banks list with $41.432 billion total managed issues.

Jackson Securities employees a staff of 35 and is headquartered in Atlanta with offices in Bethesda, Chicago, Dallas, Houston, Miami, Milwaukee, New York City, Sacramento and Stamford.

Financial terms of the deal were not disclosed.