Legg Mason (NYSE: LM) announced today 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.

About Legg Mason

Legg Mason is a global asset management firm with $757 billion in assets under management as of July 31, 2016. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

About Financial Guard LLC 

Financial Guard is a leading online investment advisor providing simple, professional and transparent investment advice through its interactive website. Financial Guard's technology allows investors to create a unique profile, view all of their investments in one place, assess their portfolios with a simple grading system, and receive guidance on how to optimize their portfolio(s) to reduce overall costs.